ORLANDO, Fla.—Wyndham Worldwide today completed its spin-off of Wyndham Hotels & Resorts and became the world’s largest vacation ownership and exchange company. Now known as Wyndham Destinations, the company began trading on the New York Stock Exchange under the new symbol “WYND.”
Wyndham Destinations has a global presence in 110 countries at more than 220 vacation ownership resorts and 4,300 affiliated exchange properties.
“Over the past decade, we have built the world’s largest vacation ownership and exchange company thanks to the hard work of our employees and the loyalty of our customers,” says Michael D. Brown, president and chief executive officer for Wyndham Destinations. “We are excited to move forward as a focused, pure-play company with a leading market position and significant growth opportunities. With our experienced management team, robust sales and marketing platform, and increased financial flexibility, we look forward to providing our owners and guests with great vacation experiences and delivering value for our shareholders in the years to come.”
Wyndham Destinations expects to file a Form 8-K report with the U.S. Securities and Exchange Commission containing unaudited pro forma condensed consolidated financial statements reflecting the impact of the spin-off.
“Every year 3.5 million families entrust us with their vacation dreams. Through our unique brands, flexible ways to explore, and more destinations than anyone else, we make it easy to experience and enjoy the most amazing vacations around the globe,” Brown says. “Our associates have a pioneering ‘test and invest’ culture that keeps us at the forefront of change which will fuel our growth and innovation.”
Wyndham Destinations executives will celebrate the creation of the new company by ringing the opening bell at the New York Stock Exchange at 9:30 a.m. on June 5.
