Wyndham Worldwide Corporation’s (WYN - Free Report) operational arm Wyndham Hotel Group recently declared inclusion of 56 hotels spread across mid-Atlantic and southeast U.S. to its family of brands. In this regard, the company has entered into an agreement with Colony Financial, Inc. (CLNY - Free Report) and Colony Capital, LLC.
These hotels were previously operating under the Jameson Inns brand. Now, as per the agreement, 49 hotels will be running under the company’s Baymont Inn & Suites brand while Days Inn will be operating one hotel and other six properties will be branded as Howard Johnson property.
Aimbridge Hospitality will be engaged in controlling and managing the operations of these 56 Wyndham branded properties. With this agreement, nearly 3,638 guestrooms will be added to Wyndham Hotel Group profile.
Wyndham Hotel Group remains optimistic regarding the agreement, as it will further strengthen its brand value moving ahead.
Wyndham Hotel Group currently operates 7,260 hotels with 618,100 rooms across 66 countries. It works under various brand names such as Wyndham Hotels and Resorts, Ramada, Days Inn, Super 8, Wingate by Wyndham, Baymont Inn & Suites, Microtel Inn & Suites by Wyndham, Hawthorn Suites by Wyndham, TRYP by Wyndham(SM), Howard Johnson, Travelodge and Knights Inn.
Recently, Wyndham Hotel Group declared the launch of a TRYP by Wyndham(SM) branded property in Taksim, Istanbul. Christened as TRYP by Wyndham Istanbul Taksim, the hotel features 108 rooms with various other facilities. Wyndham Hotel Group now possesses 326 hotels in Europe, the Middle East and Africa (EMEA) region.
Wyndham carries a Zacks Rank #3 (Hold). The hotel industry is improving gradually. Some of the hoteliers who are expected to perform well in the near future include Choice Hotels International Inc. (CHH - Free Report) and Intercontinental Hotels Group plc (IHG - Free Report) . All these stocks carry a Zacks Rank #1 (Strong Buy).