Wyndham Worldwide announces agreement to sell its European vacation rental business to Platinum Equity
Wyndham Worldwide Corporation has announced that it has entered into a definitive agreement for the sale of its European vacation rental business to Platinum Equity for approximately $1.3 billion. In conjunction with the sale, the European vacation rental business has entered into a 20-year agreement under which it will pay a royalty fee of 1% of net revenue to Wyndham’s hotel business for the right to use the by Wyndham Vacation Rentals® endorser brand. The European vacation rentals operations will also participate as a redemption partner in the award-winning Wyndham Rewards® loyalty programme. Wyndham’s industry-leading European vacation rental business is the largest...
Wyndham Worldwide announces plan to become two publicly traded hospitality companies
Wyndham Worldwide has announced plans to spin off the company's hotel business resulting in two separate, publicly traded companies. Wyndham Hotel Group will become a new, publicly traded pure-play hotel company with a portfolio of renowned brands. Wyndham Vacation Ownership will be the world's largest publicly traded timeshare company and will be joined with Wyndham Destination Network, home to RCI. The Company will also explore strategic alternatives for its European rental brands. The two public companies intend to enter into long-term exclusive license agreements to retain their affiliation with one of the industry's top rated loyalty programs, Wyndham Rewards, as well...
