Wyndham Worldwide will split its hotel and timeshare businesses, allowing each company to focus on its core business, following similar spin-offs by competitors Marriott International and Starwood Hotels & Resorts.
Wyndham’s hotel unit will become a new, publicly traded company by the first half of 2018. Wyndham Hotel Group will be based in New Jersey, and operate or franchise 8,100 hotels across 18 brands.
The timeshare unit, Florida-based Wyndham Vacation Ownership, will be joined with Wyndham Destination Network, parent of timeshare exchange company RCI.
The corporate names of the post-spin public companies have not yet been decided.
The hotel and timeshare companies plan to enter a license agreement to jointly run their loyalty programs, Wyndham Rewards, and cross-sell properties.