Wyndham Worldwide revealed executive leadership appointments for the new, publicly traded pure-play hotel company to be created by the 2018 spin-off from Wyndham Worldwide.
With 18 brands and more than 8,100 hotels, Wyndham’s hotel business is the world’s largest hotel company by number of properties, according to the company. Anchored by hotel brands including Days Inn and Super 8, the future asset-light, fee-for-service hotel company is poised to build on its position in the economy and midscale segments, while growing its upscale portfolio and management business.
As previously noted, Geoff Ballotti, current CEO of Wyndham Hotel Group, will continue to lead the hotel company as president and CEO. David Wyshner has joined Wyndham Worldwide as CFO and will become CFO of the new hotel company upon spin.
Chief Strategy and Development Officer: Tom Barber, currently SVP, M&A and operational excellence at Wyndham Worldwide
General Counsel: Paul Cash, currently EVP and general counsel at Wyndham Destination Network. Cash will assume this role at the end of 2017.
Chief Administrative Officer: Mary Falvey, currently EVP and chief human resources officer at Wyndham Worldwide. Falvey will assume this role immediately in addition to her current role at Wyndham Worldwide.
Chief Marketing Officer: Barry Goldstein, currently chief marketing officer at Wyndham Hotel Group
Chief Operating Officer: Bob Loewen, currently COO of Wyndham Hotel Group
“This proven and experienced leadership team of industry veterans is perfectly suited to move this business forward as a standalone leader in hospitality, with an incredible global portfolio, a strong and resilient asset-light business model, strong cash flow, and a growing pipeline,” said Ballotti. “Each of our leaders brings a unique perspective and background that together creates a powerful combination of public company and hospitality industry expertise as we look ahead to growing our collection of brands and driving lasting value for shareholders.”
This month, Wyndham Worldwide unveiled plans to spin off the company’s hotel business, resulting in two separate, publicly traded companies. Wyndham Hotel Group will become a new, publicly traded pure-play hotel company. The other publicly traded company will include Wyndham Vacation Ownership, with headquarters in Orlando, FL, and Wyndham Destination Network, home to RCI. The corporate names of the post-spin public companies have not yet been disclosed.
The two public companies intend to enter into long-term exclusive license agreements to retain their affiliation Wyndham Rewards, as well as continued collaboration on key inventory sharing and customer cross-sell initiatives, according to the company.
Wyndham Hotel Group is the world”s largest hotel company based on number of hotels and is one of three hospitality business units of Wyndham Worldwide (NYSE: WYN). As both a leading hotel brand franchisor and hotel management services provider, the company”s global portfolio consists of approximately 7,700 properties and over 668,500 rooms in 71 countries under the following brands: Dolce Hotels and Resorts®, Wyndham Grand® Hotels and Resorts, Wyndham Hotels and Resorts®, Wyndham Garden® Hotels, TRYP by Wyndham®, Wingate by Wyndham®, Hawthorn Suites by Wyndham®, Microtel Inn & Suites by Wyndham®, Ramada®, Baymont Inn & Suites®, Days Inn®, Super 8®, Howard Johnson®, Travelodge® and Knights Inn®. Wyndham Rewards, the company”s guest loyalty program, offers more than 40 million members the opportunity to earn and redeem points at thousands of hotels across the world. For more information, visit www.wyndhamworldwide.com.
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