LAS VEGAS—It's been a big year for Wyndham Hotel Group, and president and CEO Eric Danziger is excited at the company's global growth prospects. Perhaps the biggest piece of news detailed at the 2012 Wyndham Hotel Group Global Conference at Mandalay Bay was the rebranding of Microtel Inns & Suites to more broadly include its presence in Wyndham's brand portfolio.
"In the case of Microtel, it was the right thing to do," said Danziger. "In all reality, there's never been a brand that didn't start out being all new build; they do change. The last couple years were a little bit slow so we have even created some incentives to help people build Microtels. We'll help ensure the person the ability to get financed and have offered some bank assistance." Danziger also addressed Wyndham's uncharacteristic ownership of the Wyndham Grand Orlando Resort Bonnet Creek, couching the move in terms of grand strategy. "In terms of Bonnet Creek, I don't think its right to say it's a change for us," said Danziger. "We don't want to be owners of real estate and we won't be. Thats not to say there will not be the occasional product that make sense for us." Development will remain Wyndham's bread and butter expansion strategy, however, and the company has even begun working with owners and developers to help get new projects off the ground. "We've gone into this year in an aggressive development mode for Wyndham, which may mean we make operational guarantees or loans," said Danziger. "For the right hotel, we're going to find a solution. For Bonnet Creek, it's part mixed-use with 1,000 vacation ownership units. We were happy to complete the deal but I don't know how long we'll own it because someone will want to buy it. Then maybe we can use that capital. It is not a strategic shift to be in the ownership business." Danziger is especially excited about Wyndham's development pipeline outside the United States, where most new-build development has ceased. "Forty-five percent of the company's pipeline is international, especially in places like China, India and Panama," said Danziger. "Outside the States is very active, and Canada is very active particulary with our Days Inn brand."
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"In the case of Microtel, it was the right thing to do," said Danziger. "In all reality, there's never been a brand that didn't start out being all new build; they do change. The last couple years were a little bit slow so we have even created some incentives to help people build Microtels. We'll help ensure the person the ability to get financed and have offered some bank assistance." Danziger also addressed Wyndham's uncharacteristic ownership of the Wyndham Grand Orlando Resort Bonnet Creek, couching the move in terms of grand strategy. "In terms of Bonnet Creek, I don't think its right to say it's a change for us," said Danziger. "We don't want to be owners of real estate and we won't be. Thats not to say there will not be the occasional product that make sense for us." Development will remain Wyndham's bread and butter expansion strategy, however, and the company has even begun working with owners and developers to help get new projects off the ground. "We've gone into this year in an aggressive development mode for Wyndham, which may mean we make operational guarantees or loans," said Danziger. "For the right hotel, we're going to find a solution. For Bonnet Creek, it's part mixed-use with 1,000 vacation ownership units. We were happy to complete the deal but I don't know how long we'll own it because someone will want to buy it. Then maybe we can use that capital. It is not a strategic shift to be in the ownership business." Danziger is especially excited about Wyndham's development pipeline outside the United States, where most new-build development has ceased. "Forty-five percent of the company's pipeline is international, especially in places like China, India and Panama," said Danziger. "Outside the States is very active, and Canada is very active particulary with our Days Inn brand."
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