Wyndham Worldwide has revealed plans to create a new, publicly traded hotel company.
To be spun-off from Wyndham Worldwide in 2018, the new “pure play” hotel group will operate the company’s 18 hotel brands, which comprise more than 8,100 properties worldwide.
This will officially separate Wyndham Hotel Group from the company’s vacation ownership, vacation exchange, holiday parks and home rentals businesses.
Geoff Ballotti, the current CEO of Wyndham Hotel Group, will continue to lead the new hotel company as president & CEO, while Barry Goldstein and Bob Loewen will continue their existing roles of chief marketing officer and chief operating officer. Tom Barber, who is currently senior vice president of M&A and operational excellence at Wyndham Worldwide, will join the new hotel group as chief strategy & development officer.
The new Wyndham Hotel Group will continue to be headquartered in New Jersey and will operate the company’s global brands, including Wyndham, Ramada, Days Inn and Super 8. The spin-off will also see Wyndham Vacation Ownership and Wyndham Destination Network, home to timeshare group RCI, become separate companies.