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| Formerly | Wyndham Worldwide (2006–2018) Wyndham Destinations (2018-2021) |
|---|---|
| Company type | Public |
| Industry | Hospitality |
| Founded | July 8, 2006; 19 years ago (2006-07-08) |
| Headquarters | Orlando,Florida, United States |
Key people | |
| Products | Timeshare,vacation rentals,resorts |
| Revenue |  US$3.864 billion(2024)[3] |
| US$733 million(2024)[4] | |
| US$411 million(2024)[5] | |
Number of employees | 19,000[6] (2024) |
| Divisions | Vacation Ownership, Travel & Membership |
| Subsidiaries | RCI WorldMark by Wyndham |
| Website | www |
| Footnotes / references [7][8] | |
Travel + Leisure Co. (formerlyWyndham Destinations, Inc., andWyndham Worldwide Corporation) is an Americantimeshare company headquartered inOrlando, Florida.[9] It develops, sells, and manages timeshare properties under several vacation ownership clubs, including Club Wyndham,WorldMark by Wyndham, Margaritaville Vacation Club, and Accor Vacation Club. The company provides timeshare exchange services, primarily throughRCI, and travel clubs including Travel + Leisure GO.
The company operates two business lines: Vacation Ownership and Travel & Membership.[10]
Wyndham Worldwide was formed as aspin-off fromCendant Corporation in 2006, with ownership of Cendant's hotel and timeshare businesses. In 2018, Wyndham Worldwide spun off its hotel division asWyndham Hotels & Resorts and changed its own name to Wyndham Destinations and then to Travel + Leisure in 2021 following the acquisition of the brand fromMeredith Corporation, later known asPeople Inc..[11] TheTravel + Leisure magazine is published independently by People under a long-term license agreement.[12]
The company's origins can be traced to the founding ofHospitality Franchise Systems (HFS) in 1990, created as a vehicle to acquire hotel franchises. By 1995, it had acquired theDays Inn,Howard Johnson,Ramada, andSuper 8 brands. HFS then expanded into other businesses. In 1996, it acquired the timeshare exchange serviceResort Condominiums International. In 1997, HFS merged withCUC International to formCendant Corporation. Cendant increased its involvement in the timeshare business by buying Fairfield Communities in 2001 andTrendwest Resorts in 2002. In 2005, Cendant bought the Wyndham hotel brand from theBlackstone Group.
On July 31, 2006, Wyndham Worldwide was created as a spin-off from Cendant with ownership of its hotel and timeshare businesses, as part of a plan to break Cendant up into four separate companies.
In 2013, Wyndham acquired Shell Vacations Club for $102 million plus $153 million of assumed debt.[13]
In August 2017, Wyndham announced plans to spin off its hotel division to shareholders as a separate publicly traded company, thereby becoming a pure timeshare company.[14] The spin-off ofWyndham Hotels & Resorts occurred on May 31, 2018, and what remained of Wyndham Worldwide was renamed as Wyndham Destinations the same day.[15][16]
Travel + Leisure Co., headquartered in Orlando, Florida, is the largest vacation ownership company in the world by number of owners and resorts. It includes a network of more than 270 properties, 25,000 individual units, and over 800,000 property owners.[17] Locations are inNorth America, theCaribbean, and theSouth Pacific. The company's Vacation Ownership business line includes marketing and sales of vacation ownership interests, consumer financing in conjunction with the purchase of vacation ownership interests, property management services to property owners' associations, and development and acquisition of vacation ownership resorts.[17]
The company's Travel & Membership business line was formed to manage the company's timeshare exchange and membership travel and technology businesses, including RCI. This division operates the businesses formerly part of Wyndham Destination Network.Wyndham Exchange and Rentals officially changed its name toWyndham Destination Network on January 1, 2016, and formerly operated over 110,000 vacation properties worldwide in more than 100 countries.[19] To help diversify from its traditional exchange business, the company boughtLove Home Swap in 2017.[20] On May 9, 2018, Wyndham Worldwide Corporation completed an agreement to sell its European vacation rental business, which included cottages.com, Hoseasons, James Villa Holidays,Landal GreenParks, Novasol, and several others toPlatinum Equity for around $1.3 billion[21] Wyndham Destinations sold its North American Vacation Rental business and associated brands toVacasa in July 2019[22] and purchased Alliance Reservations Network in August 2019 for $92 million.[23]
Wyndham Vacation Resorts was the focus of investigations regarding their sales practices in 2016 inPennsylvania andWisconsin. The Real Estate Commission for Pennsylvania fined Wyndham and their broker at theirShawnee-on-Delaware location, Craig Roberts, a total of $15,000. Eight months earlier, Wyndham settled similar allegations in Wisconsin, paying $655,000 in restitution to 29 consumers.[24]
Also in 2016, a San Francisco jury awarded $20 million to Trish Williams, a former Wyndham timeshare sales representative, who was wrongfully terminated in 2010 for reporting timeshare fraud on the elderly.[25]
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