Wyndham destinations [NYSE: WYND] reported that the company has purchased the travel & leisure brand from Meredith Corporation [NYSE: MDP]. Wyndham purchased all related assets to it including the resorts, memberships lifestyle travel brands, and travel clubs.
This transaction will pace up the company’s strategy to build on a leading position as the largest vacation club around the globe. It will also aid in changing the company and extending into a new leisure Travel and certifying markets.
“Wyndham purchased travel and leisure including all of its access to 35M followers and 60k club members through multiple platforms. This transaction matches our determination and desire to put the world on a vacation. During the past year and a half, we laid the foundation to expand the company’s own business. Today marks another day that we add another influential brand in travel through this transaction.” Said Michael D Brown President and CEO of Wyndham.