Press Release
November 7, 2000
DALLAS, TX -- Wyndham International, Inc. (NYSE:WYN) announced yesterday that it completed the previously announced
sale of the Malmaison brand and hotel properties in England and Scotland to Marylebone Warwick Balfour Group Plc.
(MWB). Wyndham received gross proceeds of $111 million.
With the closing of the Malmaison transaction, Wyndham has divested $406 million in non-strategic assets this year,
exceeding its 2000 target of $300 million, as part of its strategic plan to focus on Wyndham-branded hotel and
resort operations.
"The sale represents a very attractive price for the Malmaison assets and is another important step in our
strategy of concentrating primarily on Wyndham-branded upscale and luxury properties," said Fred J. Kleisner,
chairman and chief executive officer of Wyndham. "Proceeds from the sale of non-core and non-strategic assets
are being used primarily to reduce debt and to enhance our Wyndham brand."
Malmaison hotels are located in Leeds, Manchester, Newcastle, Glasgow and Edinburgh, with hotels planned in Birmingham
and London.
Wyndham International, Inc. offers upscale and luxury hotel and resort accommodations through proprietary lodging
brands and a management services division. Based in Dallas, Wyndham International owns, leases, manages and franchises
hotels and resorts in the United States, Canada, Mexico, the Caribbean and Europe. For more information, visit
www.wyndham.com. For reservations, call 800-WYNDHAM.
Cautionary Statement
This press release contains certain forward-looking statements within the meaning of Sections 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including projections about future operating
results. The Company's results could differ materially from those set forth in the forward-looking statements.
Certain factors that might cause a difference include, but are not limited to, risks associated with the availability
of equity or debt financing at terms and conditions favorable to Wyndham; risks associated with the course of litigation;
Wyndham's ability to effect sales of assets on favorable terms and conditions; Wyndham's ability to integrate acquisitions
into its operations and management; risks associated with the hotel industry and real estate markets in general;
competition within the lodging industry; the impact of general economic conditions; risks associated with debt
financing; and other risks and uncertainties set forth in the company's annual, quarterly & current reports
and proxy statements.
-----------------------------------
Contact:
Wyndham International, Inc. Media Inquiries: Fred Stern 214/863-1258 or Analyst Inquiries: Elizabeth Williams, 214/863-1389