Wyndham merges China unit into Asia Pacific
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Wyndham Hotel Group said in an internal message that it will reorganise its global structure from five regions to three, combining Greater China with Southeast Asia Pacific Rim as Asia Pacific, and combining North America with Latin America.
CEO Geoff Ballotti said senior executives including Greater China president Leo Liu will soon leave the company after this reorganisation. Ballotti said the reorganisation aims to further streamline overhead expenses in face of the COVID-19 pandemic. The company will also eliminate some jobs and carry out furloughs to be leaner during the virus outbreak.
As of the end of 2019, the company had 154,600 hotel rooms in the Greater China region, but that only contributed 3% of Wyndham’s royalties in the year. China represents just 2% of the company’s adjusted EBITDA, Ballotti said during Wyndham’s fourth-quarter earnings call back in February this year.
The company now has over 85% of its 1,600 hotels in China reopened for business.
As originally reported on the China Travel News website
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