Wyndham Announces the Launch of Wyndham Residences® in the U.S. With Reside, Our Portfolio Company
Wyndham Announces the Launch of Wyndham Residences® in the U.S.
In partnership with Reside Worldwide Inc. (“Reside”), a Westbridge portfolio company Wyndham Hotels announced the debut of its Wyndham Residence® tier in the U.S. Wyndham Residences® are initially launching in five cities and will expand to the top 50 markets in the U.S.
Reside, with its roots in the Puget Sound region, has for decades prior successfully managed and operated alternative accommodations for some of the world’s largest corporations and is a natural partner for the build-out of this alternative hospitality brand.
This tie-up is transformative, bringing to fruition part of Reside's two-pronged metamorphosis from a corporate housing provider, into a partner for a global brand to build out an exciting segment of the hospitality market. Reside also continues to build 3Sixty, a marketplace that transforms the way extended-stay travel is sourced and purchased by creating a seamless digitally controlled quality, curated, compliant accommodation experience.
Ever since the acquisition of Reside in 2017, under the leadership of its CEO Lee Curtis, Westbridge has provided the business with support bringing to bear the weight of its capital, and the professional services group, also helping identify and hire key senior resources to drive execution of this opportunity.
Reside offers another example of the success of the Westbridge model, taking good businesses and making them better through access to patient non-dilutive capital and professional support and by empowering management teams to drive growth and returns.
This news was recently shared by Wyndham Hotels & Resorts. Click here to read the full article: https://investor.wyndhamhotels.com/news-events/press-releases/detail/351/wyndham-expands-extended-stay-offerings-teams-with-reside.
About Reside
Headquartered in Seattle, WA, Reside is the leading provider of professionally operated and managed global alternative accommodations with a portfolio of premier hospitality and technology brands. Reside's mission is to present a new way to stay; offering a curated experience to guests no matter the destination or duration of their stay. Reside operates in over 60 countries across the globe, providing a diversified selection of options to satisfy the growing consumer demand for dependable, high-quality housing solutions for business or leisure travel. To learn more visit www.staywithreside.com.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world's largest hotel franchising company by the number of properties, with approximately 9,200 hotels across over 95 countries on six continents. Through its network of approximately 893,000 rooms appealing to the everyday traveller, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 25 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company's award-winning Wyndham Rewards loyalty program offers approximately 112 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit wyndhamhotels.com.
About Westbridge Capital Ltd.
Westbridge is a private equity management company. Westbridge focuses on real estate and private equity investments that by their nature have little correlation to publicly listed securities and may be used to diversify a portfolio and reduce overall portfolio risk and volatility.
About Westbridge Capital Partners Income Trust
Westbridge Capital Partners Income Trust is a Canadian-domiciled Mutual Fund Trust managed by Westbridge Capital Ltd. The Fund makes high-yield loans to mature operating companies and distributes the associated income stream to investors through monthly distributions.
