Wyndham Worldwide to Sell Its European Vacation Rental Business to Platinum Equity for $1.3 Billion

Platinum Equity | February 15, 2018

PARSIPPANY, N.J., Feb. 15, 2018 -- Wyndham Worldwide Corporation (NYSE: WYN) today announced that it has entered into a definitive agreement for the sale of its European vacation rental business to Platinum Equity for approximately $1.3 billion. In conjunction with the sale, the European vacation rental business has entered into a 20-year agreement under which it will pay a royalty fee of 1% of net revenue to Wyndham's hotel business for the right to use the by Wyndham Vacation Rentals® endorser brand. The European vacation rentals operations will also participate as a redemption partner in the award-winning Wyndham Rewards®...