Rebranding is just part of its plan

Article Excerpt

TRAVEL + LEISURE CO. $65.11 (New York symbol TNL; TSINetwork Rating: Extra Risk) (www.travelandleisureco.com; Shares o/s: 85.9 million; Market cap: $5.4 billion; Yield: 1.8%) is the new name for Wyndham Destinations after its recent acquisition of the Travel + Leisure brand from Meredith Corp. (symbol MDP on New York) for $100 million. Travel + Leisure is now the world’s largest vacation-ownership and exchange company. It operates 230 timeshare resorts with 880,000 owners. Meanwhile, the acquisition will expand Wyndham’s business beyond its core vacation-ownership operations. The combined company has a global audience of 35 million followers across multiple platforms and nearly 60,000 club members. To ensure its continued high quality, Meredith will continue publishing Travel + Leisure magazine under a 30-year renewable licensing agreement. Wyndham has also agreed to a five-year marketing commitment across Meredith Corp.’s portfolio of media brands beyond Travel + Leisure. The acquisition will accelerate plans by the new Travel + Leisure to build on its leading position as the world’s largest vacation club and exchange company…