Hoping to choose benefit of a submit-pandemic surge in leisure travel, timeshare and holiday ownership corporation Wyndham Destinations is shopping for the Travel + Leisure model for $100 million from Meredith Corporation. Wyndham Locations will rebrand by itself as Vacation + Leisure Co. in early 2021, while the Travel + Leisure journal will go on to be operated by Meredith Company below a 30-12 months licensing agreement.
Travel + Leisure’s existing staff will continue being workforce of Meredith, according to a assertion. The offer was initially claimed right now by The Wall Avenue Journal.
“It’s a fantastic branding option,” states Noah Brodsky, chief brand officer, Wyndham Locations. “That gives us an prospect to broaden our marketplace, to go away from just timeshare.”
The transfer will see Wyndham Destinations leverage the status of the storied Vacation + Leisure magazine, and will enable the company create a one of a kind manufacturer identification independent from its 2018 spinoff, Wyndham Motels & Resorts. Brodsky sees leisure vacation as one of the to start with sectors established to return when the pandemic turns a corner, and claims the branding from Travel + Leisure will help it prepare for that surge.
“[Travel + Leisure] is a potent, worthwhile media brand name that opens up additional small business opportunities to a business enterprise/brand name that is caught in a stalled market place since of the pandemic.” claims brand name leadership professional Denise Lee Yohn. Yohn claims the transfer will help Wyndham shift absent from currently being involved pretty much entirely with properties.
The magazine’s functions will retain editorial independence, suggests Jacqueline Gifford, Editor in Main of Travel + Leisure. “It offers us the flexibility of journalists to do what we have been undertaking for 50 decades,” mentioned Gifford. “This is a major investment decision in terms of Vacation + Leisure turning into a even bigger brand name.”
As aspect of the rebrand, Wyndham Locations stock will take on the ticker image TNL in mid-February.