Wyndham Worldwide demerged its Hotel Business.

Wyndham Worldwide, an American timeshare company, demerged its Hotel Business into Wyndham Hotels & Resorts, the world’s largest hotel franchisor with more than 8.3k affiliated hotels. “We’re confident that as two independent companies, Wyndham Hotels & Resorts and Wyndham Destinations have the right focus and strategic flexibility to unlock significant long-term value for stockholders. Each of the new companies will have significant scale and a leadership position within its industry, strong cash flows, and a rich portfolio of trusted brands,” Stephen P. Holmes, Chairman and CEO of Wyndham Worldwide.