Introduction
Over the past 18 months, Wyndham Worldwide Corporation transformed from a hospitality conglomerate made-up of franchising, vacation network, and timeshare businesses into two more focused companies. The franchising piece of the business spun-off as Wyndham Hotels & Resorts (WH) in May 2018 (click here to see the recent spin-offs). It is a pure-play franchising business that generates significant free cash flow and has a variety of growth opportunities.
2018 Portfolio Transformation
2018 was a transformational year for the company. On February 15th, they announced the sale of the European vacation