NEW YORK— Wyndham International is vowing to sell off 55 assets considered to be non-proprietary to its core business by next year, said Chairman/CEO Fred Kleisner. Wyndham invited a select group of potential owners and franchisees, as well as existing partners, to a breakfast this morning at the Millennium Hotel in Times Square as the last day of the NYU Hospitality Investment Conference was kicking off up the street at the Marriott Marquis. During the get-together, Kleisner laid out the company’s growth plans, emphasizing that Wyndham aims to “get simpler every day, and then get bigger with partners.” The company has continued its plan of signing one franchise or management contract a month, said Kleisner, who indicated he was also pleased at the recovery the industry and economy in general have been enjoying. Noting that some have shown disappointment the recovery is not going as quickly as anticipated, Kleisner emphasized the fact that the country is simply in the midst of an economic cycle. Wyndham has a portfolio consisting of 220 hotels, and owns or leases 166 of them. Pointing to a pie chart on a projector screen this morning, Kleisner told the audience they could consider the portion that showed 37% of the company’s overall portfolio being comprised of “non-proprietary assets,” to become history over the next year. “Just color them gone,” he said. While Wyndham is indeed shopping these properties— which currently fly the Hilton, Hyatt and Marriott flags— around, it is not selling them at rock-bottom prices. “There were a lot of bottom fishers around after 9/11 and we said ‘no, thank you,’” said Kleisner. Wyndham yesterday announced it is giving away free local and long-distance phone calls to its ByRequest members.
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