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As part of its spinoff strategy, Wyndham is preparing to sell its European vacation-rental business.
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Following the sale, La Quinta will proceed with plans to spin off its real estate assets into a publicly traded REIT under the name of CorePoint Lodging.
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Wyndham Destinations, the timeshare spinoff of Wyndham Worldwide, is undertaking a massive expansion plan to enter new markets and update its branding.
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The program follows a similar one established by Wyndham earlier this year aiming to increase the number of women-owned hotels.
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Wyndham Hotels & Resorts announced plans for another 60 hotels under its Echo Suites brand as extended-stay hotels continue to outperform the broader industry.
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Much of the new demand is expected to come from infrastructure project workers.
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Wyndham has once again rebuffed Choice's proposal, calling the latest offer a "step backwards" in negotiation proceedings.
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Wyndham's leaders said Choice's offer undervalues its growth potential and comes with major business and execution risks.
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Wyndham added 500 new hotels to its system in 2023 despite what CEO Geoff Ballotti has described as a hostile and risk-laden takeover bid from Choice Hotels.
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The hotel company previously positioned the partnership with Wyndham as “a tremendous leap forward for LuxUrban.”
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