PARSIPPANY, NJ— The new hospitality company that Cendant Corp. plans on establishing later this year will be called Wyndham Worldwide. The spin-off company will incorporate Cendant’s current lodging, timeshare resorts and vacation exchange and rental businesses. Once the spin-off is finalized, Wyndham Worldwide will be an independent, publicly traded pure-play company focused on the development and performance of its nine hotel lodging chains, which include the Wyndham, Ramada, Super 8, Wingate Inn and Days Inn brands, among others. The soon-to-be-acquired Baymont Inns & Suites brand will also be a part of the new company. Cendant’s vacation exchange rental businesses, including RCI, Novasol and Landal GreenParks, and its timeshare resorts businesses, including Fairfield Resorts and Trendwest Resorts, will be a part of Wyndham Worldwide as well. Stephen Holmes will be the new company’s chairman and CEO. He noted that since the Wyndham hotel brand is widely known for “its distinctly personalized approach to hospitality, Wyndham Worldwide translates perfectly as the bold new identity for a company that provides consumers with the widest choice in global travel accommodations for virtually any occasion, price point and experience.” Wyndham Worldwide will incorporate more than 6,300 franchised or managed hotels with 530,000 guestrooms around the globe. It will also serve more than three million members of the RCI exchange network with access to more than 4,000 resorts worldwide. It will further encompass 55,000 vacation exchange and rental properties in more than 100 countries and more than 140 timeshare resorts serving more than 750,000 timeshare owners in North America, the Caribbean and the South Pacific. Since the Cendant name will be retired through the spin-off, Cendant Timeshare Resort Group, Inc. will change its name to Wyndham Vacation Ownership, Inc. Furthermore, Cendant Hotel Group, which currently manages Cendant’s franchised and managed hotel lodging business, will be renamed Wyndham Hotel Group. The Wyndham brand will also be renamed Wyndham Hotels & Resorts.
