Day: January 9, 2021

Wyndham Destinations, in Travel + Leisure Purchase, Looks Beyond Its Timeshares


Courtesy Wyndham Destinations

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Timeshare company

Wyndham Destinations

is getting set for a post-Covid world.

In a move to broaden its reach and change its brand, Wyndham Destinations (ticker: WYND) earlier this week agreed to a $100 million deal with

Meredith

(MDP) to buy Travel + Leisure, which operates an eponymous and well-regarded media platform and several travel clubs.

Wyndham Destinations next month will change its name to Travel + Leisure Co. and trade under the stock ticker TNL. However, the timeshare business, which will remain the company’s primary focus, will continue to operate under the Wyndham Destinations name.

“With the acquisition of Travel + Leisure, we begin to address the approximately 100 million households that travel outside of the timeshare space,” Michael Brown, CEO of Wyndham Destinations, told Barron’s in an interview Thursday.

Wyndham Destinations, based in Orlando, Fla., will make a $35 million payment to Meredith at

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