As previously announced, Wyndham Worldwide’s Board of Directors has approved the spin-off of its wholly-owned subsidiary Wyndham Hotels & Resorts, Inc., the world’s largest hotel franchisor with nearly 8,000 affiliated hotels. The distribution is expected to occur after the market close on May 31, 2018 to Wyndham Worldwide stockholders of record as of May 18, 2018. In conjunction with the spin-off, Wyndham Worldwide will be renamed Wyndham Destinations, Inc. and will continue to be the world’s largest vacation ownership and exchange company.
Following the spin-off, Wyndham Hotels & Resorts will trade on the New York Stock Exchange under the symbol “WH”, and Wyndham Destinations will continue to trade on the New York Stock Exchange under the new symbol “WYND”. Wyndham Hotels & Resorts is expected to begin “regular-way” trading on June 1, 2018.
ABOUT WYNDHAM WORLDWIDE
Wyndham Worldwide (NYSE: WYN) is one of the largest global hospitality companies, providing travelers with access to a collection of trusted hospitality brands in hotels, vacation ownership, and unique accommodations including vacation exchange and managed vacation rentals. With a collective inventory of over 22,000 places to stay across 110 countries on six continents, Wyndham Worldwide and its more than 35,000 associates welcome people to experience travel the way they want. This is enhanced by Wyndham Rewards®, the Company’s award-winning guest loyalty program across its businesses, which is making it simpler for members to earn more rewards and redeem their points faster. For more information, please visit www.wyndhamworldwide.com.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are those that convey management’s expectations as to the future based on plans, estimates and projections at the time Wyndham Worldwide, Wyndham Destinations and Wyndham Hotels make the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “intend,” “goal,” “future,” “guidance,” “estimate” and similar words or expressions, including the negative version of such words and expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Wyndham Destinations and Wyndham Hotels to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements contained in this press release include statements related to the companies’ current views and expectations with respect to their future performance and operations. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Factors that could cause actual results to differ materially from those in the forward-looking statements include without limitation general economic conditions, the performance of the financial and credit markets, the companies’ abilities to obtain financing, their respective credit ratings (including changes thereto as result of the spin-off, the La Quinta acquisition and other related transactions), post-closing credit obligations as result of the sale of Wyndham Worldwide’s European vacation rentals business, the economic environment for the hospitality industry, the impact of war, terrorist activity or political strife, operating risks associated with the hotel, vacation ownership and vacation exchange businesses, unanticipated developments related to the impact of the spin-off on the companies’ relationships with their respective customers, suppliers, employees and others with whom they have relationships, uncertainties related to companies’ abilities to realize the anticipated benefits of the La Quinta acquisition and the spin-off, as well as those factors described in Wyndham Hotels’ Registration Statement on Form 10, filed with the SEC on March 19, 2018, as amended, in Wyndham Worldwide’s Annual Report on Form 10-K, filed with the SEC on February 16, 2018, and in each company’s subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Wyndham Worldwide, Wyndham Hotels and Wyndham Destinations undertake no obligation to publicly update or revise any forward-looking statements, subsequent events or otherwise.
Wyndham Destinations Investors:
Vice President, Investor Relations
Wyndham Hotels & Resorts Investors:
Vice President, Investor Relations
Wyndham Destinations Media:
Director, Corporate Communications
Wyndham Hotels Media:
Nadeen N. Ayala
Senior Vice President, Global Communications
View original content with multimedia:http://www.prnewswire.com/news-releases/wyndham-destinations-and-wyndham-hotels–resorts-to-speak-at-the-goldman-sachs-lodging-gaming-restaurant-and-leisure-conference-300656967.html
SOURCE Wyndham Worldwide