Wyndham spins-off hotel unit, seeks deals for European brands
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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, New Jersey, and Wyndham Vacation Ownership, headquartered in Orlando, Florida, the company said on 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.
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