"The name represents the elevation of a signature brand to serve as our new corporate identity," says Stephen P. Holmes, Cendant vice chairman, who's slated to become chairman and CEO of the new company. "As a provider of accommodations, we will leverage a name that provides us with a familiar corporate identity and conveys who we are."
As part of the spin-off and name change, the company's Cendant Timeshare Resort Group Inc. will become known as Wyndham Vacation Ownership Inc. The Cendant Hotel Group, meanwhile will change its name to Wyndham Hotels & Resorts. The Cendant name is being retired.
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