Cendant Spin-Off to Adopt Wyndham Name

Parsippany, N.J. -- The hospitality company to be spun off from Cendant Corp. later this year plans to adopt Wyndham Worldwide as its name.

Stephen Holmes, Cendant vice chairman and the new hospitality company's chairman and chief executive, said last Thursday that Wyndham Worldwide "represents the elevation of a signature brand with high consumer appeal."

Cendant acquired the Wyndham brand last September from The Blackstone Group and about the same time announced it planned to spin off Cendant's four principal businesses-- real estate, travel distribution, hospitality, and vehicle rental--into four, publicly traded companies by the end of this year.

Wyndham Worldwide will be one of the world's largest hospitality companies, encompassing more than 6,300 franchised or managed hotels with over 530,000 hotel rooms worldwide. In addition to the Wyndham brand of full-service hotels, other Wyndham Worldwide brands will include Ramada, Super 8, Wingate Inn, and Days Inn.

Wyndham Worldwide will also include the RCI exchange network, which serves more than three million members with access to over 4,000 resorts worldwide; more than 55,000 vacation exchange and rental properties located in more than 100 countries; and over 140 timeshare resorts serving more than 750,000 timeshare owners throughout North America, the Caribbean, and the South Pacific.