Wyndham Hires Restructuring Adviser

LOS ANGELES— According to a Reuters report, Wyndham International Inc. has hired a restructuring adviser and a lawyer specializing in bankruptcy. A spokesman for debt-laden Wyndham, whose problems have been magnified by the U.S. travel industry crisis in the aftermath of the Sept. 11 attacks, would not confirm or deny the move but said the company was confident in its liquidity. While Wyndhams hiring of counsel and advisers could indicate the company is considering bankruptcy, those steps could also be posturing moves to pressure creditors into renegotiating Wyndhams large debt, said Reuters. Wyndham faces a Feb. 28 deadline in ongoing talks with lenders aimed at renegotiating the terms on some of its debt, according to its own filings with securities regulators. Company spokesman Andrew Jordan said Wyndham, which has an interest in 129 hotels nationwide, is focused on coming to terms with its creditors and said that its operations are now cash-flow positive. SOURCE: Reuters