Wyn­d­ham to spin off its ho­tel busi­ness

Northwest Arkansas Democrat-Gazette - - BUSINESS & FARM - — Bloomberg News

Wyn­d­ham World­wide Corp., owner of the Ra­mada and Days Inn brands, said it will spin off its ho­tel unit into a new pub­licly traded com­pany and con­sol­i­date its time­share busi­ness while ex­plor­ing strate­gic al­ter­na­tives for its Euro­pean ren­tal brands.

The com­pany will split into Wyn­d­ham Ho­tel Group, based in Par­sip­pany, N.J., and Wyn­d­ham Va­ca­tion Own­er­ship, head­quar­tered in Or­lando, Fla., the com­pany said Wed­nes­day. The lat­ter will be com­bined with Wyn­d­ham Des­ti­na­tion Net­work, which in­cludes the RCI time­share ex­change net­work. The names of the post-split com­pa­nies haven’t been de­cided.

Wyn­d­ham World­wide shares fell $2.71, or 2.7 per­cent, to close Thurs­day at $97.60.

Wyn­d­ham is fol­low­ing a path taken by other large ho­tel op­er­a­tors. Hil­ton World­wide Hold­ings Inc. in Jan­uary spun off its real es­tate into Park Ho­tels & Re­sorts Inc. and its time­share busi­ness into Hil­ton Grand Va­ca­tions Inc. Mar­riott In­ter­na­tional Inc. took sim­i­lar steps in 1993, when it cre­ated what is now Host Ho­tels & Re­sorts Inc., the largest U.S. ho­tel real es­tate in­vest­ment trust.

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