On June 1, 2018, Wyndham Destinations, Inc. (NYSE: WYND), formerly known as Wyndham Worldwide Corporation, announced that it completed the spin-off of Wyndham Hotels & Resorts, Inc. (NYSE: WH) to become the world's largest vacation ownership and exchange company. Wyndham Destinations now trades on the New York Stock Exchange under the new ticker "WYND."
The spin-off was effected through a pro rata distribution of Wyndham Hotels & Resorts common stock to Wyndham Worldwide stockholders of record as of 5:00 pm on May 18, 2018, the record date for the distribution. Each Wyndham Worldwide stockholder received one share of Wyndham Hotels & Resorts common stock for each share of Wyndham Worldwide common stock held by such stockholder on the record date. Upon completion of the spin-off, Wyndham Worldwide stockholders own 100% of the common stock of Wyndham Hotels & Resorts and will continue to own 100% of the common stock of Wyndham Destinations.
Beginning in June 2018, Wyndham Destinations expects to pay a quarterly cash dividend of $0.41 per share and Wyndham Hotels & Resorts expects to pay a quarterly cash dividend of $0.25 per share. The dividends, in aggregate, are consistent with Wyndham Worldwide's previous quarterly dividend of $0.66 per share.
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Materials & Presentations
- Form 8-K containing unaudited pro forma condensed consolidated financial statements reflecting the impact of the spin-off (June 4, 2018)
- News Release: Wyndham Worldwide Completes Spin-off of Wyndham Hotels & Resorts; Becomes Wyndham Destinations (June 1, 2018)
- Wyndham Worldwide and Wyndham Hotels & Resorts Declare Cash Dividends (May 21, 2018)
- News Release: Wyndham Worldwide Announces Plan to Become Two Publicly Traded Hospitality Companies (August 2, 2017)
- Wyndham Destinations Overview (March 19, 2018)
- Wyndham Hotels & Resorts Form 10 Registration Statement (April 19, 2018)
- News Release: Wyndham Worldwide Announces Financings by Wyndham Hotels & Resorts, Inc., Its Spin-Off Subsidiary (April 13, 2018)
- Wyndham Destinations Supplementary Financial Information (May 2, 2018)
- A comparison of first quarter 2018 results to first quarter 2017 results
- Pro forma adjusted EBITDA and adjusted net income for first quarter 2018
- Full-year 2018 pro forma outlook
- Second quarter 2018 pro forma outlook
- Full-year and quarterly 2017 pro forma revenue and adjusted EBITDA
- Reconciliations of non-GAAP measures to GAAP results
- News Release: Wyndham Worldwide to Host Investor Meeting on May 16 (May 8, 2018)
- Wyndham Hotels & Resorts Investor Presentation (May 16, 2018)
- Wyndham Destinations Investor Presentation (May 16, 2018)
- Wyndham Hotels & Resorts Tax Forms
Wyndham Hotels Spin Off Tax Information and Basis Allocation (June 8, 2018)
Wyndham Hotels Spin Off Tax Form 8937
- News Release: Wyndham Worldwide Announces Completion of its Sale of its European Vacation Rentals Business (May 9, 2018)
- News Release: Wyndham Worldwide Announces Agreement to Sell its European Vacation Rental Business to Platinum Equity (February 15, 2018)
- News Release: Wyndham Worldwide Completes Acquisition Of La Quinta Holdings (May 31, 2018)
- News Release: Wyndham Worldwide and La Quinta Holdings Announce Acquisition Agreement (January 18, 2017)
- Investor Presentation: Wyndham Worldwide Acquisition of La Quinta Holdings (January 18, 2018)
European Rentals Business Divestiture
La Quinta Acquisition