Wyndham Destinations is buying the Travel + Leisure publication from Meredith Corp. for $100 million. In addition to its eponymous magazine, the combined company would have 18 resort, travel-club and lifestyle-travel brands. 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”.
SPACs
The use of what are called blank-check companies, which go public with no assets and then merge with private companies, surged in 2020, raising a record $82.1 billion in 2020, up from $13.5 billion in 2019.
Lodging Index
Although the FTSE Nareit Equity Lodging/Resorts Index surged in November following news of successful vaccine trials, it was still down 25% in 2020.