“We’re thrilled to begin a new era in which we will continue to build upon our powerful asset-light and fee-based business model that is driven by an exceptional portfolio of market-leading economy and midscale brands,” said Geoff Ballotti, chief executive officer of Wyndham Hotels & Resorts.
Wyndham Hotels & Resorts is the world’s largest hotel franchiser and a leading provider of hotel management services, with a portfolio of 20 well-recognized lodging brands and nearly 9,000 franchised hotels in more than 80 countries.
“As the world’s largest hotel franchiser with a proven ability to create value through acquisitions and organic growth, we will focus on strengthening our industry-leading loyalty and technology platforms to drive more direct distribution to our owners and franchisees at a lower cost, while serving everyday travelers exceptionally well,” Ballotti added.
As previously announced, Wyndham Worldwide common stockholders received one share of Wyndham Hotels & Resorts common stock for each share of Wyndham Worldwide common stock held on May 18, 2018, the record date. Following the spin-off, Wyndham Hotels & Resorts has approximately 100 million shares outstanding.
Wyndham Hotels & Resorts commands a leading presence in both the economy and midscale segments of the lodging industry. It is also a leading provider of hotel management services, with more than 400 properties under management.
Wyndham in the Greek market
Since entering the Greek market in 2016, the group operates seven hotels, among them Wyndham Grand Athens in the Greek capital; Wyndham Loutraki Poseidon Resort and the Ramada Loutraki Poseidon Resort in Loutraki near Corinth; and the Dolce Attica Riviera in Vravrona, East Attica.
In the last 18 months, Wyndham Hotel & Resorts opened six of the seven hotels, which adds up to some approximately 1,300 rooms in the Greek hospitality market.
Wyndham Hotels & Resorts recently appointed Dimitris Manikis to the role of president and managing director for Europe, Middle East and Africa (EMEA). Manikis is responsible for the development of all of the group’s brands in the EMEA region and the performance of all new and existing franchise and managed hotels.