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 formerly traded on the New York Stock Exchange under the 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 expected 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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On February 17, 2021, Wyndham Destinations, Inc. was renamed Travel + Leisure Co. and trades on the NYSE under the new ticker symbol TNL.
Materials & Presentations
- Form 8-K containing unaudited pro forma condensed consolidated financial statements reflecting the impact of the spin-off (June 4, 2018)
- Wyndham Destinations Overview (March 19, 2018)
- Wyndham Destinations Supplementary Financial Information (May 2, 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