Hoping to make the most of a post-pandemic surge in leisure journey, timeshare and trip possession firm Wyndham Locations is shopping for the Journey + Leisure model for $100 million from Meredith Company. Wyndham Locations will rebrand itself as Journey + Leisure Co. in early 2021, whereas the Journey + Leisure journal will proceed to be operated by Meredith Company below a 30-year licensing settlement.
Journey + Leisure’s present employees will stay staff of Meredith, based on an announcement. The deal was first reported as we speak by The Wall Road Journal.
“It’s an excellent branding alternative,” says Noah Brodsky, chief model officer, Wyndham Locations. “That offers us a chance to broaden our market, to maneuver away from simply timeshare.”
The transfer will see Wyndham Locations leverage the repute of the storied Journey + Leisure journal, and can assist the corporate set up a singular model identification separate from its 2018 spinoff, Wyndham Resorts & Resorts. Brodsky sees leisure journey as one of many first sectors set to return when the pandemic turns a nook, and says the branding from Journey + Leisure will assist it put together for that surge.
“[Travel + Leisure] is a strong, invaluable media model that opens up extra enterprise alternatives to a enterprise/model that’s caught in a stalled market due to the pandemic.” says model management professional Denise Lee Yohn. Yohn says the transfer will assist Wyndham transfer away from being related virtually utterly with properties.
The journal’s operations will retain editorial independence, says Jacqueline Gifford, Editor in Chief of Journey + Leisure. “It offers us the liberty of journalists to do what we’ve been doing for 50 years,” mentioned Gifford. “It is a main funding by way of Journey + Leisure turning into an even bigger model.”
As a part of the rebrand, Wyndham Locations inventory will tackle the ticker image TNL in mid-February.