Aug
07
Wyndham to Separate Hotel, Timeshare Businesses
ByGeoff Ballotti, the current CEO, will lead the hotel company, and Michael Brown, current CEO of the group’s Vacation Ownership division, will lead the timeshare operation.
Wyndham Worldwide will spin off its hotel business, thus creating two separate publicly traded companies, Wyndham announced late last week.
Wyndham Hotel Group will become a new publicly traded, pure-play hotel company and will remain headquartered in Parsippany, N.J. Wyndham Vacation Ownership, based in Orlando, Fla., will be the world’s largest publicly traded timeshare company and will be teamed with Wyndham Destination Network, home to RCI, the world’s largest timeshare exchange company.
Wyndham reportedly “will … explore strategic alternatives for its European rental brands.”…
