Wyndham Destinations, Inc., a new publicly traded timeshare company, will locate its future global headquarters in Orlando, Florida.
The company is making a $7.5 million capital investment, with plans to create 200 jobs. The new employees will be hired over the course of the next two years, consisting of corporate headquarters professional positions in legal, information technology, human resources and finance.
Last year, Wyndham Worldwide announced its plans to spin off the company’s hotel business, resulting in two separate, publicly traded companies. Wyndham Hotel Group, headquartered in Parsippany, New Jersey and Wyndham Destinations which includes Wyndham Vacation Ownership and Wyndham Destinations, located in Orlando, both of which have long-term exclusive license agreements with Wyndham Rewards.
"Over the past decade, we have built the world's largest vacation ownership and exchange company thanks to the hard work of our employees and the loyalty of our customers," said Michael D. Brown, President & CEO for Wyndham Destinations. "We are excited to move forward as a focused, pure-play company with a leading market position and significant growth opportunities."
“With our experienced management team, robust sales and marketing platform, and increased financial flexibility, we look forward to providing our owners and guests with great vacation experiences and delivering value for our shareholders in the years to come." Wyndham Destinations has a global presence in 110 countries at more than 220 vacation ownership resorts and 4,300+ affiliated exchange properties making it the world’s largest vacation ownership, exchange and rental company. It employs more than 25,000 people around the globe,” he added.
The project was made possible through strong partnerships with the Department of Economic Opportunity, the Orlando Economic Partnership (the Partnership), Orange County and Enterprise Florida. The company considered locating in Orange County, New Jersey and Indiana.
CEO of Enterprise Florida Inc. Peter Antonacci said, “The EFI Board of Directors is proud that Wyndham Destinations has chosen Orlando to locate its global headquarters. The 200 new high wage jobs provide more opportunity for hardworking Floridians.”
Florida Governor Rick Scott said, “Today, I am proud to join Wyndham Destinations as they move their headquarters to Orlando and create 200 jobs in our state. By cutting taxes and creating an environment where our private sector can grow, we have made it easier for major businesses to move their operations to Florida.”
“The Partnership assisted the company by providing critical data and research on the market, facilitating the incentives application process and creating customized relocation packages for employees,” said the Partnership’s President & CEO Tim Giuliani. “There is no better place than Orlando for one of the world’s largest hospitality brands. We welcome Wyndham Destinations and its employees and are proud it chose Orlando as home.”