Kirkland & Ellis LLP is advising Wyndham Worldwide (NYSE: WYN), one of the largest global hospitality companies, on its plans to spin off the company’s hotel business and become two separate, publicly traded companies. As a result of the transaction, Wyndham Hotel Group, one of the world’s largest and most diverse hotel businesses, will become a new, publicly traded pure-play hotel franchise company with a portfolio of renowned brands. In addition, Wyndham Vacation Ownership, the world’s largest developer and marketer of vacation ownership products, will become the largest publicly traded timeshare company and will include Wyndham Destination Network, home to RCI, the world’s largest timeshare exchange company. The transaction is expected to be completed in the first half of 2018. The full press release is available here.
The Kirkland team is led by corporate partners Daniel Wolf and David Feirstein as well as David Fox; capital markets partner Christian Nagler; tax partners Dean Shulman and Sara Zablotney; and executive compensation partner Scott Price.