Size and scale of company will drive future growth and focus on delivering great vacations.
ORLANDO, FLA. – Wyndham Destinations, Inc., formerly known as Wyndham Worldwide Corporation, announced that it has completed the spin-off of Wyndham Hotels & Resorts, Inc. to become the world's largest vacation ownership and exchange company. Wyndham Destinations now trades 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," said 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 said. "Our associates have a pioneering 'test and invest' culture that keeps us at the forefront of change which will fuel our growth and innovation."
As previously announced, Wyndham Worldwide common stockholders of record as of the close of business on May 18, 2018, the record date for the distribution, received one share of Wyndham Hotels & Resorts, Inc. common stock for each share of Wyndham Worldwide common stock held by such stockholder on the record date.
The Wyndham Destinations senior leadership team includes:
– Michael D. Brown, president and chief executive officer
– Michael Hug, chief financial officer
– James Savina, general counsel
– Kimberly Marshall, chief human resources officer
– Brad Dettmer, chief information officer
– Noah Brodsky, chief brand officer
– Gordon Gurnik, president, RCI Exchanges
– Mary Lynn Clark, president, Wyndham Vacation Rentals
– Jeff Myers, chief sales and marketing officer, Wyndham Vacation Clubs
– Geoff Richards, chief operating officer, Wyndham Vacation Clubs
– Barry Robinson, president and managing director, international operations, Wyndham Vacation Clubs
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
