Wyndham Destinations

Wyndham Destinations, Inc. (formerly Wyndham Worldwide Corporation) is an American timeshare company headquartered in Orlando, Florida.[8] It develops, sells, and manages timeshare properties under several vacation ownership clubs, including Club Wyndham and WorldMark by Wyndham, and provides timeshare exchange services, primarily through RCI.

Wyndham Destinations, Inc.
FormerlyWyndham Worldwide (2006–2018)
TypePublic
IndustryHospitality
FoundedJuly 8, 2006 (2006-07-08)
HeadquartersOrlando, Florida,
United States
Key people
  • Michael D. Brown (president​ & CEO)[1]
  • Michael Hug (CFO)[2]
  • Noah Brodsky (chief brand​ officer)[3]
Productstimeshare, vacation rentals, resorts
Revenue US$4.043 billion (2019)[4]
US$812 million (2019)[4]
US$507 million (2019)[4]
Number of employees
22,500[5] (2019)
SubsidiariesRCI
WorldMark by Wyndham
Websitewww.wyndhamdestinations.com
Footnotes / references
[6][7]

Wyndham Worldwide was formed as a spin-off from Cendant Corporation in 2006, with ownership of Cendant's hotel and timeshare businesses. In 2018, Wyndham Worldwide spun off its hotel division as Wyndham Hotels & Resorts and changed its own name to Wyndham Destinations and then to Travel + Leisure in 2021.

History

The company's origins can be traced to the founding of Hospitality Franchise Systems (HFS) in 1990, created as a vehicle to acquire hotel franchises. By 1995, it had acquired the Days Inn, Howard Johnson, Ramada, and Super 8 brands. HFS then expanded into other businesses. In 1996, it acquired the timeshare exchange service Resort Condominiums International. In 1997, HFS merged with CUC International to form Cendant Corporation. Cendant increased its involvement in the timeshare business by buying Fairfield Communities in 2001 and Trendwest Resorts in 2002. In 2005, Cendant bought the Wyndham hotel brand from the Blackstone 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.[9]

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.[10] The spin-off of Wyndham Hotels & Resorts occurred on May 31, 2018, and what remained of Wyndham Worldwide was renamed as Wyndham Destinations the same day.[11][12]

Wyndham Vacation Clubs

Wyndham Vacation Clubs, headquartered in Orlando, Florida, is the largest vacation ownership program in the world.[13] It includes a network of 230 properties, 25,000 individual units, and over 880,000 property owners.[14] Locations are in North America, the Caribbean, and the South Pacific. Wyndham Vacation Clubs 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.[14]

Wyndham Vacation Clubs brands

RCI Exchanges

RCI Exchanges was created when Wyndham Destinations was established in 2018. RCI Exchanges operates the businesses formerly part of Wyndham Destination Network. Wyndham Exchange and Rentals officially changed its name to Wyndham Destination Network on January 1, 2016, and formerly operated over 110,000 vacation properties worldwide in more than 100 countries.[17] 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 to Platinum Equity for around $1.3 billion[18] Wyndham Destinations sold its North American Vacation Rental business and associated brands to Vacasa in July 2019.[19]

RCI Exchanges brands
  • RCI
  • 7Across (formerly DAE)
  • Love Home Swap
  • PanoramaCo.
  • The Registry Collection
  • @Work International
  • Alliance Reservations Network

Sales practices

Wyndham has been the focus of several investigations regarding their sales practices. Most recently, in Pennsylvania . The Real Estate Commission for Pennsylvania fined Wyndham and their broker at their Shawnee-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.

A San Francisco jury awarded $20 million to Trish Williams, a former Wyndham timeshare sales representative, who was wrongfully terminated for reporting timeshare fraud on the elderly.

References
  1. "Wyndham Worldwide Completes Spin-off of Wyndham Hotels & Resorts; Becomes Wyndham Destinations." CNBC. Retrieved on June 20, 2018.
  2. http://www2.wyndhamdestinations.com/news-media/press-releases/wyndham-worldwide-announces-plan-become-two-publicly-traded-hospitality
  3. https://investor.wyndhamdestinations.com/governance/our-leadership/person-details/default.aspx?ItemId=699bb658-5ca5-4635-889c-4532a54c55ef
  4. "Wyndham Destinations Reports Fourth Quarter and Full Year 2019 Results" (PDF). Wyndham Destinations. February 2020.
  5. https://s22.q4cdn.com/457996430/files/doc_financials/2019/q4/WYND-4Q-2019-Earnings-Release.pdf
  6. "Wyndham Worldwide Corporation". Google Finance. Retrieved 2008-08-26.
  7. "Wyndham Worldwide: At a Glance". Wyndham Worldwide. Retrieved 2008-08-26.
  8. "Contact Us." Wyndham Destinations. Retrieved on August 3, 2009.
  9. "Wyndham buys Shell Vacations for $102M in cash". www.businessweek.com/. Retrieved 2 September 2014.
  10. "Wyndham timeshare will spin off from parent company". Orlando Sentinel. August 4, 2017 – via NewsBank.
  11. Form 8-K: Current Report (Report). Wyndham Destinations. May 31, 2018 – via EDGAR.
  12. "Wyndham Worldwide Completes Spin-Off Of Wyndham Hotels & Resorts; Becomes Wyndham Destinations" (Press release). June 1, 2018. Retrieved 2018-12-31.
  13. "Wyndham Timeshares". VacationOwnership.com. Retrieved December 25, 2014.
  14. "Wyndham Destinations: Form 10-K" (PDF). Wyndham Destinations. Retrieved 2020-02-25.
  15. https://www.wyndhamdestinations.com/news-media/press-releases/australias-largest-timeshare-club-has-rebranded-to-club-wyndham-south-pacific
  16. "Wyndham Extra Holidays".
  17. "Wyndham Exchange and Rentals". Wyndham Destinations. Retrieved 20 November 2015.
  18. Corporation, Wyndham Worldwide. "Wyndham Worldwide Announces Completion of its Sale of its European Vacation Rentals Business". www.prnewswire.com. Retrieved 2019-02-19.
  19. Inc, Wyndham Destinations. "Vacasa Signs Agreement with Wyndham Destinations to Acquire Wyndham Vacation Rentals". www.wyndhamdestinations.com. Retrieved 2019-07-30.
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