Wyndham Destinations Inc. is buying the Travel + Leisure publication from Meredith Corp. for $100 million, in a deal that would expand Wyndham’s business beyond its core vacation-ownership operations.
In addition to its eponymous magazine, Travel + Leisure operates membership-based travel services. Wyndham runs 230 timeshare resorts, with more than four million members across its business lines. The combined company would have 18 resort, travel-club and lifestyle-travel brands.
Meredith will continue publishing Travel + Leisure under a 30-year renewable licensing agreement, with the Travel + Leisure staff remaining as Meredith employees, the companies said.
Wyndham Destinations, which spun off Wyndham Hotels & Resorts Inc. in 2018, plans to change its name to Travel + Leisure Co. and trade under the ticker symbol “TNL” as of mid-February.
The goal of the combined company will be to grow its membership travel-club businesses, offer new travel services and expand licensing agreements.
