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Cendant to spin off hospitality division
Cendant Corp. announced last week that Wyndham Worldwide Corp., its wholly owned subsidiary, has filed with U.S. regulators to spin off the division and will become the parent company of its hospitality services unit.
Cendant expects the transaction to occur in the summer of 2006.
With more than 6,400 hotels on five continents, Cendant is the world’s largest lodging franchisor. In fact, one out of every five economy and mid-priced room-nights in the United States is spent in a Cendant hotel. The brands include Amerihost Inn, Days Inn, Howard Johnson, Knights Inn, Ramada, Super 8 Motel, Travelodge, Wingate Inn, and Wyndham.
The company had also announced its plans in April to file to spin off its travel division by October 2006, as well as consider selling the unit.
Cedant’s Travel Distribution Services Division is one of the world’s largest and most geographically diverse collections of travel brands and distribution businesses. The division, employing nearly 9,000 people in approximately 140 countries, includes: a leading (GDS) global distribution system (Galileo), serving more than 50,000 travel agencies and over 60,000 hotels; hotel distribution and services businesses (Neat Group®, THOR®, TRUST and WizCom®); leading online travel agencies (asia-hotels.com, CheapTickets®, ebookers.com®, HotelClub.com, Lodging.com, Orbitz®, RatesToGo.com, and The Away Network); an airline market intelligence company (Shepherd Systems); an international travel technology and software company (Travelwire); a leading international provider of long-haul air travel and travel product consolidator (Travel 2®/Travel 4®); online global corporate travel management solutions (Orbitz for Business® and Travelport®); and a leading wholesaler and global online provider of hotels, destination services, travel packages and group tours (Gullivers Travel Associates, OctopusTravel.com® and Travel Bound, Inc.).
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