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This excerpt taken from the WYN 10-K filed Feb 27, 2009. History
and Development
Prior to August 2006, we were a wholly owned subsidiary of
Cendant Corporation (which changed its name to Avis Budget
Group, Inc. in September 2006). Cendant Corporation was created
in December 1997 through the merger of CUC International, Inc.,
or CUC, and HFS Incorporated, or HFS. Prior to the merger, HFS
was a major hospitality, real estate and car rental franchisor.
At the time of the merger, HFS franchised hotels worldwide
through brands, such as Ramada, Days Inn, Super 8, Howard
Johnson and Travelodge and had recently acquired Resort
Condominiums International, Inc., a premier vacation exchange
business. Subsequent to the merger, Cendant took a
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number of steps and completed a number of transactions to grow
its Hospitality Services business and to develop its Timeshare
Resorts (vacation ownership) business, including the following:
Each of our lodging, vacation exchange and rentals and vacation
ownership businesses has a long operating history. Our lodging
business began operations in 1990 with the acquisition of the
Howard Johnson and Ramada brands, each of which opened its first
hotel in 1954. RCI, the best known brand in our vacation
exchange and rentals business, was established 35 years
ago, and our vacation ownership brands, Wyndham Vacation Resorts
and Wyndham Resort Development Corporation, which operates as
WorldMark by Wyndham, began vacation ownership operations in
1980 and 1989, respectively.
Prior to July 31, 2006, Cendant transferred to Wyndham
Worldwide all of the assets and liabilities of Cendant’s
Hospitality Services (including Timeshare Resorts) businesses
and, on July 31, 2006, Cendant distributed all of the
shares of Wyndham common stock to the holders of Cendant common
stock issued and outstanding on July 21, 2006, the record
date for the distribution. The separation was effective on
July 31, 2006. On August 1, 2006, we commenced
“regular way” trading on the New York Stock Exchange
under the symbol “WYN.”
Subsequent to our separation from Cendant, we further expanded
our global presence in the lodging industry by acquiring a 30%
equity interest in CHI Limited, a joint venture that provides
management services to luxury and upscale hotels in Europe, the
Middle East and Africa, in November 2006, and expanding our
economy brands and entering the extended stay segment by
acquiring the Microtel and Hawthorn brands in July 2008.
This excerpt taken from the WYN 10-K filed Feb 29, 2008. History
and Development
Previously, we were a wholly owned subsidiary of Cendant
Corporation (which changed its name to Avis Budget Group, Inc.
in September 2006). Cendant Corporation was created in December
1997 through the merger of CUC International, Inc., or CUC, and
HFS Incorporated, or HFS. Prior to the merger, HFS was a major
hospitality, real estate and car rental franchisor. At the time
of the merger, HFS franchised hotels worldwide through brands,
such as Ramada, Days Inn, Super 8, Howard Johnson and
Travelodge. Subsequent to the merger, Cendant took a number of
steps and completed a number of transactions to grow its
Hospitality Services business and to develop its Timeshare
Resorts (vacation ownership) business, including the following:
Each of our lodging, vacation exchange and rentals and vacation
ownership businesses has a long operating history. Our lodging
business began operations in 1990 with the acquisition of the
Howard Johnson and Ramada brands, each of which opened its first
hotel in 1954. RCI, the best known brand in our vacation
exchange and rentals business, was established more than
30 years ago, and our vacation ownership brands, Wyndham
Vacation Resorts and Wyndham Resort Development Corporation,
which operates as WorldMark by Wyndham, began vacation ownership
operations in 1980 and 1989, respectively.
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Prior to July 31, 2006, Cendant transferred to Wyndham
Worldwide all of the assets and liabilities of Cendant’s
Hospitality Services (including Timeshare Resorts) businesses
and, on July 31, 2006, Cendant distributed all of the
shares of Wyndham common stock to the holders of Cendant common
stock issued and outstanding on July 21, 2006, the record
date for the distribution. The separation was effective on
July 31, 2006. On August 1, 2006, we commenced
“regular way” trading on the New York Stock Exchange
under the symbol “WYN.”
Subsequent to our separation from Cendant, we further expanded
our presence in the Lodging industry by acquiring a 30% equity
interest in CHI Limited, a joint venture that provides
management services to luxury and upscale hotels in Europe, the
Middle East and Africa. As of December 31, 2007, we were
providing hotel management services to 14 hotels through this
joint venture, the majority of which have already been, or will
be in early 2008, re-branded as a Wyndham brand.
This excerpt taken from the WYN 10-K filed Mar 7, 2007. History
and Development
Previously, we were a wholly owned subsidiary of Cendant
Corporation (which changed its name to Avis Budget Group in
September 2006). Cendant Corporation was created in December
1997 through the merger of CUC International, Inc., or CUC, and
HFS Incorporated, or HFS. Prior to the merger, HFS was a major
hospitality, real estate and car rental franchisor. At the time
of the merger, HFS franchised hotels worldwide through brands,
such as Ramada, Days Inn, Super 8, Howard Johnson and
Travelodge. Subsequent to the merger, Cendant took a number of
steps and completed a number of transactions to grow its
Hospitality Services business and to develop its Timeshare
Resorts business (which is the same business as our vacation
ownership business), including the following:
Prior to July 31, 2006, Cendant transferred to Wyndham
Worldwide all of the assets and liabilities, including the
entities holding substantially all of the assets and
liabilities, of Cendant’s Hospitality Services (including
Timeshare Resorts) businesses and, on July 31, 2006,
Cendant distributed all of the shares of Wyndham common stock to
the holders of Cendant common stock issued and outstanding on
July 21, 2006, the record date for the distribution. The
separation was effective on July 31, 2006. On
August 1, 2006, we commenced “regular way”
trading on the New York Stock Exchange under the symbol
“WYN.”
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Subsequent to our separation from Cendant, we further expanded
our presence in the Lodging industry by acquiring a 30% equity
interest in CHI Limited, a joint venture that provides
management services to luxury and upper upscale hotels in
Europe, the Middle East and Africa. As of December 31,
2006, we were providing property management services to 17
hotels branded as Corinthia through this joint venture. We
expect 13 of these hotels to be branded or cobranded as Wyndham
or Ramada during 2007.
This excerpt taken from the WYN 8-K filed Jul 19, 2006. History and Development We are currently a wholly owned subsidiary of Cendant Corporation. Cendant Corporation was created in December 1997 through the merger of CUC International, Inc., or CUC, and HFS Incorporated, or HFS. Prior to the merger, HFS was a major hospitality, real estate and car rental franchisor. At the time of the merger, HFS franchised hotels worldwide through brands, such as Ramada, Days Inn, Super 8, Howard Johnson and Travelodge. Since the merger, Cendant has taken a number of steps and completed a number of transactions to grow its Hospitality Services business and to develop its Timeshare Resorts business (which is the same business as our vacation ownership business), including the:
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Prior to the distribution, Cendant will transfer to Wyndham Worldwide the assets and liabilities, including the entities holding substantially all of the assets and liabilities, of Cendant’s Hospitality Services (including Timeshare Resorts) businesses. | EXCERPTS ON THIS PAGE:
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