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This excerpt taken from the WYN 10-K filed Mar 7, 2007. Property
Management
As of December 31, 2006, our lodging business was providing
hotel property management services to 32 properties associated
with the either the Wyndham Hotels and Resorts brand or the CHI
joint venture. Our property management business offers owners of
hotels professional oversight and comprehensive operations
support, including hiring, training, purchasing, revenue
management, sales and marketing, and food and beverage services;
financial management and analysis; and information systems
management and integration. Our management fee is generally
based on a percentage of each hotel’s gross revenue plus,
in the majority of properties, an incentive fee based on
operating performance. The terms of our management agreements
are for various periods and generally contain renewal options,
subject to certain termination rights. In general, under our
management agreements all operating and other expenses are paid
by the owner and we are reimbursed for our
out-of-pocket
expenses.
This excerpt taken from the WYN 8-K filed Jul 19, 2006. Property Management In connection with our acquisition of Wyndham Hotels and Resorts’ franchise business, we acquired Wyndham’s property management business and began offering hotel property management services. As of March 31, 2006, our lodging business owned hotel property management contracts for 19 properties associated with the Wyndham Hotels and Resorts brand. Our property management business offers customers professional oversight of independently owned hotels and comprehensive operations support, including hiring, training, purchasing, revenue management, sales and marketing, and food and beverage; financial management and analysis; and information systems management and integration. | EXCERPTS ON THIS PAGE:
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