Wyndham Worldwide Corporation (NYSE: WYN) today announced that its subsidiary, Wyndham Hotels & Resorts, has completed its previously announced acquisition of La Quinta Holdings' hotel franchising and hotel management business. The addition of La Quinta's over 900 franchised hotels with a total of nearly 89,000 rooms builds Wyndham Hotels & Resorts' midscale presence and expands its reach further into the upper-midscale segment of the lodging industry.

Wyndham Hotels & Resorts is the world's largest hotel franchising company based on number of properties and will become an independent public company (NYSE: WH) when it is spun-off from Wyndham Worldwide after the market close on May 31. Wyndham Hotels & Resorts now operates a portfolio of 20 lodging brands with nearly 9,000 franchised hotels across more than 80 countries and six continents, and is a leading provider of hotel management services.

La Quinta's loyalty program, La Quinta Returns®, which includes approximately 15 million enrolled members, will be combined in the coming months with the award-winning Wyndham Rewards® program, which includes over 56 million enrolled members. As a result, La Quinta guests and franchisees will soon benefit from Wyndham Hotels & Resorts' intense focus on product quality, state-of-the-art technology solutions and a loyalty program widely regarded as the most generous in the industry.

Wyndham Hotels & Resorts funded the $1.95 billion acquisition of La Quinta with proceeds from its $500 millionoffering of 5.375% senior notes due 2026 completed in April and a $1.6 billion term loan due 2025 that closed in connection with the acquisition.

Prior to Wyndham Hotels & Resorts' acquisition of La Quinta's hotel franchising and hotel management business, La Quinta completed its spin-off of CorePoint Lodging Inc. (NYSE: CPLG), a publicly traded real estate investment trust that owns 316 La Quinta hotels.

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 nearly 885,000 rooms appealing to the everyday traveler, 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 110 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 Wyndham Rewards

Part of Wyndham Hotels & Resorts (NYSE: WH), the world's largest hotel franchising company, Wyndham Rewards is the #1 hotel rewards program as named by readers of USA TODAY. Members—approximately 120 million enrolled around the world—earn a guaranteed 1,000 points with every qualified stay and can redeem for free nights starting at just 7,500 points. With more than 60,000 hotels, vacation club resorts and vacation rentals globally, no other hotel rewards program is more generous. Join for free at WyndhamRewards.com.