meredith corporation travel & leisure group

Wyndham Destinations Acquires Travel + Leisure Brand from Meredith Corporation in Strategic Alliance; Wyndham Destinations to Be Renamed Travel + Leisure Co.

•   Leading leisure travel company has acquired the iconic, trusted travel brand to accelerate its strategic plan to broaden reach with launch of new travel services, expand its membership travel business, and amplify the global visibility of its leisure travel products
• The new Travel + Leisure Co. will trade on the NYSE under the ticker symbol TNL in mid-February 2021
• Travel + Leisure’s successful multi-platform media assets, renowned for journalistic excellence, will continue to be operated by Meredith Corporation to serve clients and consumers
• This strategic alliance between two industry leaders will continue to grow the Travel + Leisure (T+L) brand globally and create new business opportunities

Media Contacts:

Vanessa Picariello Wyndham Destinations (407) 569-6234 [email protected]

Jill Davison Meredith Corporation (917) 280-0475 [email protected] Investor Relations Contacts:

Christopher Agnew Senior Vice President, FP&A and Investor Relations Wyndham Destinations (407) 626-4050 [email protected]

Mike Lovell Executive Director, Corporate Communications Meredith Corporation (515) 284-3622 (office) (515) 771-1585 (mobile) [email protected]

Release Summary

Wyndham Destinations acquires Travel + Leisure Brand from Meredith Corp in Strategic Alliance; Wyndham Destinations to be Renamed Travel + Leisure Co.

The World’s Leading Membership and Leisure Travel Company

Travel + Leisure Co. is the world’s leading membership and leisure travel company, with nearly 20 travel brands across its resort, travel club, and lifestyle portfolio. The company provides outstanding vacation experiences and travel inspiration to millions of owners, members, and subscribers every year through its products and services: Wyndham Destinations, the largest vacation ownership company with more than 245 vacation club resort locations across the globe; Panorama, the world’s foremost membership travel business that includes the largest vacation exchange company and subscription travel brands; and Travel + Leisure Group, featuring top travel content and travel services including the brand’s eponymous travel club. At Travel + Leisure Co., our global team of associates turns vacation inspiration into memorable travel experiences year after year.

Our Mission

We put the world on vacation.

Travel drives our company, our careers, and the lives of our customers. We recognize that vacations deliver some of life’s best memories, and we are here to help customers make the most of this world.

The execution of our strategy is firmly anchored by our culture — the foundation of the shared values, competencies, and spirit of our global team. Aligned with our vision to put the world on vacation, our values are the HEART of our company:

Discover Our World

Get insight into our leadership team, brand portfolio, and charitable efforts.

Creating Our Roadmap to Success

Over time, we have been transforming and acquiring some of the most iconic vacation and travel-related businesses to become the world’s leading membership and leisure travel company. In 2018, we established Wyndham Destinations, Inc. and spun off our hotel business into a separate publicly traded company, Wyndham Hotels & Resorts. While they are two separate entities, we have long-term exclusive license agreements to retain our connection with Wyndham Rewards, one of the top loyalty programs in the hospitality industry. Since then, we have also acquired Alliance Reservations Network and the iconic Travel + Leisure brand.

1970s-1980s

Capitalizing on the subscription model trend.

Subscription-based revenue has been on the rise in the past decade 1 . Seventy-nine percent of adults in the U.S. belong to a subscription service 2 . With consumers desiring to travel near and far, we connect people with places they never dreamed of visiting through strategic vacation ownership and subscription-based travel models.

Households of Vacation Lovers

Households of Subscription Lovers

Households of Timeshare Lovers

1 BMC/Mercatus survey, 2 Zuora, 3 ARDA, 4 Timeshare Consumer Guide, 5 Euromonitor

As of Sept. 10, 2021 • Travel + Leisure Co. Investor Day Presentation, September 2021

Our Portfolio of Global Brands

With a diverse portfolio of resort, membership, and lifestyle travel brands within the Travel + Leisure Co. family, we bring people together and inspire them to discover the world’s greatest escapes. We put the world on vacation!

Experienced Leaders at the Helm

Our veteran leadership team provides knowledge that propels the company’s growth while ensuring that our practices align with our values.

Get In Touch with Us

Are you interested in learning more about our brands? Reach out to us today.

• Club Wyndham South Pacific
• Discovery by Wyndham
• Lifestyle by Wyndham
• Club Wyndham Asia
• Full Circle
• Find us on Social
• COOLING-OFF
• Discounted Hotel Stays Globally
• Get ready, you’re going places
• Target Market Determination
• Hotel & Resort Management
• Senior Leadership Team
• Media Releases
• Hotel and Resort Management
• Customer Stories
• The Bucket List Map
• Lives at Wyndham Destinations
• South Pacific

WYNDHAM DESTINATIONS ACQUIRES TRAVEL AND LEISURE BRAND FROM MEREDITH CORPORATION IN STRATEGIC ALLIANCE; WYNDHAM DESTINATIONS TO BE RENAMED TRAVEL AND LEISURE CO.

• Leading leisure travel company has acquired the iconic, trusted travel brand to accelerate its strategic plan to broaden reach with launch of new travel services, expand its membership travel business, and amplify the global visibility of its leisure travel products
• The new Travel + Leisure Co. will trade on the NYSE under the ticker symbol TNL in mid-February 2021
• Travel + Leisure’s successful multi-platform media assets, renowned for journalistic excellence, will continue to be operated by Meredith Corporation to serve clients and consumers
• This strategic alliance between two industry leaders will continue to grow the Travel + Leisure (T+L) brand globally and create new business opportunities

(ORLANDO, FL/DES MOINES, IA, January 6, 2021)  –  Wyndham Destinations  (NYSE:WYND) and  Meredith Corporation  (NYSE:MDP) today announced that Wyndham Destinations has acquired the Travel + Leisure brand and all related assets from Meredith Corporation, combining the travel company’s portfolio of resort, membership, and lifestyle travel brands with the world’s most trusted travel lifestyle content curator and its travel clubs. This acquisition will accelerate Wyndham Destinations’ strategic plan to build on its leading position as the world’s largest vacation club and exchange company and expand into new leisure travel and licensing markets.

“We acquired Travel + Leisure, including access to its global audience of 35 million loyal followers across multiple platforms and nearly 60,000 club members, because it matches our passion and purpose to put the world on vacation. Over the past 18 months, we have laid the foundation to expand our footprint beyond our core vacation ownership business, and today we add one of the most trusted and influential brands in travel through the acquisition of Travel + Leisure,” said Michael D. Brown, president and chief executive officer of Wyndham Destinations. “This iconic brand, along with its authoritative content and wide audience, will help accelerate and amplify the growth of new capital-light travel businesses and services, as we take the next step in expanding our reach within the global leisure travel industry.”

In early 2021, Wyndham Destinations will change its name to Travel + Leisure Co. and will expand its portfolio through various branded products and offerings. The new company will inspire travelers with Travel + Leisure’s expert multi-platform content to grow its membership travel club businesses, launch new branded travel services, and expand brand licensing agreements under its Travel + Leisure Group.

The new Travel + Leisure Co. stock will begin trading under the ticker symbol NYSE:TNL in mid-February 2021.

Meredith will continue to operate and monetize Travel + Leisure’s media across multiple channels, including its advertising and marketing activities, under a 30-year royalty-free, renewable licensing relationship. The agreement ensures that the brand’s long-standing commitment to high-quality, independent travel journalism will continue under the leadership of Travel +Leisure Editor-in-Chief Jacqui Gifford and SVP/Group Publisher, Travel + Leisure Giulio Capua.

“As new stewards of the Travel + Leisure brand, we are committed to ensuring that the integrity and independence of its trusted, authoritative journalism remains uncompromised. I’m very pleased that Meredith will continue producing the number one travel content brand and major monthly consumer magazine under the leadership of Editor-in-Chief Jacqui Gifford,” Brown said. “For 50 years, Travel + Leisure has offered travel inspiration to tens of millions across the world through immersive, transportive experiences across many channels. Its dedicated readers rely on the brand as a window into the world’s best destinations, cultures, and experiences, and we look forward to supporting Meredith as it continues that mission.”

Transaction Details

• The $100 million acquisition will be funded with cash on hand of $35 million paid at closing, with trailing payments completed by June 2024. In addition, Wyndham Destinations has agreed to a five-year marketing commitment across Meredith’s portfolio of brands.
• Travel + Leisure Co. will continue to maintain its current portfolio of brands and products, with Wyndham Destinations now serving as the umbrella brand for its vacation club resorts, which will continue to leverage the power of the Wyndham Rewards program, and with Panorama operating the exchange, membership travel, and technology businesses.
• The acquisition is expected to be neutral to earnings for the new Travel + Leisure Co. in year one and accretive in year two. The acquisition includes Travel + Leisure’s travel clubs and their nearly 60,000 members.
• Travel + Leisure Co. will license the brand to Meredith to continue operating and monetizing T+L’s media platforms in a long-term agreement.

“This strategic alliance brings a new, innovative approach to media brand development, and we’re excited to leverage Wyndham Destinations’ and Meredith’s strengths to enhance and realize Travel + Leisure’s full potential,” said Meredith Chairman and Chief Executive Tom Harty. “This is a great demonstration of the value that strong brands deliver when expanded beyond the media space, and we look forward to developing more of these creative, value-enhancing programs across our portfolio.”

Travel + Leisure Editor-in-Chief Jacqui Gifford said, “I’m delighted that Wyndham Destinations has such a deep understanding of and excitement for Travel + Leisure, and in partnership with Meredith profoundly shares our mission to inspire and empower the world’s most curious and passionate travelers. I’ve spent time getting to know Michael Brown. I’m thrilled that he appreciates the legacy and integrity of this brand, and I look forward to working with him. We will continue to produce and deliver independent, award-winning journalism and rich, immersive storytelling, transporting our passionate audience across numerous platforms to compelling destinations around the world. With Wyndham’s backing and support, T+L is poised to accelerate its growth and flourish beyond our content while continuing to benefit from Meredith’s successful track record in operating media brands.”

“The Wyndham Destinations alliance is a win-win strategy and is indicative of our interest in collaborating with industry leaders to optimize the potential of our many other powerful Meredith media brands,” said John Zieser, Meredith Chief Development Officer.

The transaction is not expected to change employment at either company.

Deutsche Bank Securities Inc. is serving as financial advisor and Kirkland & Ellis LLP is serving as legal advisor to Wyndham Destinations on this transaction. Cooley LLP is serving as legal advisor to Meredith Corporation.

• New Resort Manager Appointed to Wyndham Resort Torquay February 19, 2021
• New General Manager Appointed to Ramada Resort by Wyndham Shoal Bay February 19, 2021

Wyndham Destinations acquires Travel + Leisure ahead of rebranding

This acquisition will accelerate Wyndham Destinations’ strategic plan to build on its leading position as the world’s largest vacation club and exchange company and expand into new leisure travel and licensing markets.

“The Wyndham Destinations alliance is a win-win strategy and is indicative of our interest in collaborating with industry leaders to optimize the potential of our many other powerful Meredith media brands”

“We acquired Travel + Leisure, including access to its global audience of 35 million loyal followers across multiple platforms and nearly 60,000 club members, because it matches our passion and purpose to put the world on vacation. Over the past 18 months, we have laid the foundation to expand our footprint beyond our core vacation ownership business, and today we add one of the most trusted and influential brands in travel through the acquisition of Travel + Leisure,” said Michael D. Brown, president and chief executive officer of Wyndham Destinations. “This iconic brand, along with its authoritative content and wide audience, will help accelerate and amplify the growth of new capital-light travel businesses and services, as we take the next step in expanding our reach within the global leisure travel industry.”

In early 2021, Wyndham Destinations will change its name to Travel + Leisure Co. and will expand its portfolio through various branded products and offerings. The new company will inspire travelers with Travel + Leisure’s expert multi-platform content to grow its membership travel club businesses, launch new branded travel services, and expand brand licensing agreements under its Travel + Leisure Group.

The new Travel + Leisure Co. stock will begin trading under the ticker symbol NYSE:TNL in mid-February 2021.

Meredith will continue to operate and monetize Travel + Leisure’s media across multiple channels, including its advertising and marketing activities, under a 30-year royalty-free, renewable licensing relationship. The agreement ensures that the brand’s long-standing commitment to high-quality, independent travel journalism will continue under the leadership of Travel +Leisure Editor-in-Chief Jacqui Gifford and SVP/Group Publisher, Travel + Leisure Giulio Capua.

“As new stewards of the Travel + Leisure brand, we are committed to ensuring that the integrity and independence of its trusted, authoritative journalism remains uncompromised. I’m very pleased that Meredith will continue producing the number one travel content brand and major monthly consumer magazine under the leadership of Editor-in-Chief Jacqui Gifford,” Brown said. “For 50 years, Travel + Leisure has offered travel inspiration to tens of millions across the world through immersive, transportive experiences across many channels. Its dedicated readers rely on the brand as a window into the world’s best destinations, cultures, and experiences, and we look forward to supporting Meredith as it continues that mission.”

Transaction Details

• The $100 million acquisition will be funded with cash on hand of $35 million paid at closing, with trailing payments completed by June 2024. In addition, Wyndham Destinations has agreed to a five-year marketing commitment across Meredith’s portfolio of brands.
• Travel + Leisure Co. will continue to maintain its current portfolio of brands and products, with Wyndham Destinations now serving as the umbrella brand for its vacation club resorts, which will continue to leverage the power of the Wyndham Rewards program, and with Panorama operating the exchange, membership travel, and technology businesses.
• The acquisition is expected to be neutral to earnings for the new Travel + Leisure Co. in year one and accretive in year two. The acquisition includes Travel + Leisure’s travel clubs and their nearly 60,000 members.
• Travel + Leisure Co. will license the brand to Meredith to continue operating and monetizing T+L’s media platforms in a long-term agreement.

“This strategic alliance brings a new, innovative approach to media brand development, and we’re excited to leverage Wyndham Destinations’ and Meredith’s strengths to enhance and realize Travel + Leisure’s full potential,” said Meredith Chairman and Chief Executive Tom Harty. “This is a great demonstration of the value that strong brands deliver when expanded beyond the media space, and we look forward to developing more of these creative, value-enhancing programs across our portfolio.”

Travel + Leisure Editor-in-Chief Jacqui Gifford said, “I’m delighted that Wyndham Destinations has such a deep understanding of and excitement for Travel + Leisure, and in partnership with Meredith profoundly shares our mission to inspire and empower the world’s most curious and passionate travelers. I’ve spent time getting to know Michael Brown. I’m thrilled that he appreciates the legacy and integrity of this brand, and I look forward to working with him. We will continue to produce and deliver independent, award-winning journalism and rich, immersive storytelling, transporting our passionate audience across numerous platforms to compelling destinations around the world. With Wyndham’s backing and support, T+L is poised to accelerate its growth and flourish beyond our content while continuing to benefit from Meredith’s successful track record in operating media brands.”

“The Wyndham Destinations alliance is a win-win strategy and is indicative of our interest in collaborating with industry leaders to optimize the potential of our many other powerful Meredith media brands,” said John Zieser, Meredith Chief Development Officer.

The transaction is not expected to change employment at either company.

Deutsche Bank Securities Inc. is serving as financial advisor and Kirkland & Ellis LLP is serving as legal advisor to Wyndham Destinations on this transaction. Cooley LLP is serving as legal advisor to Meredith Corporation.

About Meredith Corporation

Meredith Corporation  (NYSE: MDP), a leading media company for nearly 120 years, produces service journalism that engages audiences with essential, inspiring, and trusted content. Meredith reaches consumers where they are across multiple platforms, including digital, video, print, and broadcast television. Meredith’s National Media Group reaches nearly 95 percent of all U.S. women and more than 190 million unduplicated American consumers every month through such iconic brands as PEOPLE, Better Homes & Gardens, Allrecipes, Southern Living, and REAL SIMPLE. Meredith’s premium digital network reaches more than 150 million consumers each month. The company is the No. 1 U.S. magazine operator with 36 million subscribers and the No. 2 global licensor with robust brand licensing activities that include a Better Homes & Gardens partnership with Walmart. Meredith’s Local Media Group portfolio includes 17 television stations reaching 11 percent of U.S. households and 30 million viewers. Meredith’s portfolio is concentrated in large, fast-growing markets, with seven stations in the nation’s Top 25 markets, including Atlanta, Phoenix, St. Louis, and Portland, and 13 stations in the Top 50.

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Wyndham Destinations Acquires Travel + Leisure Brand From Meredith For $100 Million

Orlando, FL —  Wyndham Destinations acquired the Travel + Leisure brand and all related assets from Meredith Corporation, combining the travel company’s portfolio of resort, membership, and lifestyle travel brands with the world’s most trusted travel lifestyle content curator and its travel clubs. This acquisition will accelerate Wyndham Destinations’ strategic plan to build on its leading position as the world’s largest vacation club and exchange company and expand into new leisure travel and licensing markets.

“We acquired Travel + Leisure, including access to its global audience of 35 million loyal followers across multiple platforms and nearly 60,000 club members, because it matches our passion and purpose to put the world on vacation. Over the past 18 months, we have laid the foundation to expand our footprint beyond our core vacation ownership business, and today we add one of the most trusted and influential brands in travel through the acquisition of Travel + Leisure,” said  Michael D. Brown , president and chief executive officer of Wyndham Destinations. “This iconic brand, along with its authoritative content and wide audience, will help accelerate and amplify the growth of new capital-light travel businesses and services, as we take the next step in expanding our reach within the global leisure travel industry.”

In early 2021, Wyndham Destinations will change its name to Travel + Leisure Co. and will expand its portfolio through various branded products and offerings. The new company will inspire travelers with Travel + Leisure’s expert multi-platform content to grow its membership travel club businesses, launch new branded travel services, and expand brand licensing agreements under its Travel + Leisure Group.

The new Travel + Leisure Co. stock will begin trading under the ticker symbol NYSE:TNL in mid-February 2021.

Meredith will continue to operate and monetize Travel + Leisure’s media across multiple channels, including its advertising and marketing activities, under a 30-year royalty-free, renewable licensing relationship. The agreement ensures that the brand’s long-standing commitment to high-quality, independent travel journalism will continue under the leadership of Travel +Leisure Editor-in-Chief  Jacqui Gifford  and SVP/Group Publisher, Travel + Leisure  Giulio Capua .

“As new stewards of the Travel + Leisure brand, we are committed to ensuring that the integrity and independence of its trusted, authoritative journalism remains uncompromised. I’m very pleased that Meredith will continue producing the number one travel content brand and major monthly consumer magazine under the leadership of Editor-in-Chief Jacqui Gifford,” Brown said. “For 50 years, Travel + Leisure has offered travel inspiration to tens of millions across the world through immersive, transportive experiences across many channels. Its dedicated readers rely on the brand as a window into the world’s best destinations, cultures, and experiences, and we look forward to supporting Meredith as it continues that mission.”

Transaction Details

• The $100 million acquisition will be funded with cash on hand of $35 million paid at closing, with trailing payments completed by June 2024. In addition, Wyndham Destinations has agreed to a five-year marketing commitment across Meredith’s portfolio of brands.
• Travel + Leisure Co. will continue to maintain its current portfolio of brands and products, with Wyndham Destinations now serving as the umbrella brand for its vacation club resorts, which will continue to leverage the power of the Wyndham Rewards program, and with Panorama operating the exchange, membership travel, and technology businesses.
• The acquisition is expected to be neutral to earnings for the new Travel + Leisure Co. in year one and accretive in year two. The acquisition includes Travel + Leisure’s travel clubs and their nearly 60,000 members.
• Travel + Leisure Co. will license the brand to Meredith to continue operating and monetizing T+L’s media platforms in a long-term agreement.

“This strategic alliance brings a new, innovative approach to media brand development, and we’re excited to leverage Wyndham Destinations’ and Meredith’s strengths to enhance and realize Travel + Leisure’s full potential,” said  Meredith Chairman  and Chief Executive  Tom Harty . “This is a great demonstration of the value that strong brands deliver when expanded beyond the media space, and we look forward to developing more of these creative, value-enhancing programs across our portfolio.”

Travel + Leisure Editor-in-Chief  Jacqui Gifford  said, “I’m delighted that Wyndham Destinations has such a deep understanding of and excitement for Travel + Leisure, and in partnership with Meredith profoundly shares our mission to inspire and empower the world’s most curious and passionate travelers. I’ve spent time getting to know  Michael Brown . I’m thrilled that he appreciates the legacy and integrity of this brand, and I look forward to working with him. We will continue to produce and deliver independent, award-winning journalism and rich, immersive storytelling, transporting our passionate audience across numerous platforms to compelling destinations around the world. With Wyndham’s backing and support, T+L is poised to accelerate its growth and flourish beyond our content while continuing to benefit from Meredith’s successful track record in operating media brands.”

“The Wyndham Destinations alliance is a win-win strategy and is indicative of our interest in collaborating with industry leaders to optimize the potential of our many other powerful Meredith media brands,” said  John Zieser , Meredith Chief Development Officer.

The transaction is not expected to change employment at either company.

Deutsche Bank Securities Inc. is serving as financial advisor and Kirkland & Ellis LLP is serving as legal advisor to Wyndham Destinations on this transaction. Cooley LLP is serving as legal advisor to Meredith Corporation.

About the New Travel + Leisure Co.

In the first quarter of 2021, Travel + Leisure Co. becomes the world’s leading membership and leisure travel company, with a portfolio of nearly 20 resort, travel club, and lifestyle travel brands. The company provides outstanding vacation experiences and travel inspiration to millions of owners, members, and subscribers every year through its products and services: Wyndham Destinations, the largest vacation ownership company with 230 vacation club resort locations across the globe; Panorama, the world’s foremost membership travel business that includes the largest vacation exchange company, industry-leading travel technology, and subscription travel brands; and Travel + Leisure Group, featuring top online and print travel content, online booking platforms and travel clubs, and branded consumer products. At Travel + Leisure Co., our global team of associates brings hospitality to millions, turning vacation inspiration into exceptional travel experiences. We put the world on vacation.

About Wyndham Destinations

Wyndham Destinations  (NYSE: WYND), the world’s largest vacation club and exchange company, is on a mission to put the world on vacation. The company offers more than 4 million members and owner families the opportunity to own, exchange, or rent their vacation experience while enjoying quality, flexibility, and great value from a trusted brand. The company’s Wyndham Vacation Clubs offer 230 resorts that provide a contemporary take on the timeshare model through brands  Club Wyndham ®,  Worldmark® by Wyndham , and  Margaritaville Vacation Club® by Wyndham . With a global presence in 110 countries, the company’s membership travel business –  Panorama  – includes today’s leading vacation exchange, leisure travel, and technology brands, including  RCI , the global leader in vacation exchange that provides access to 4,200+ affiliated resorts, and  Extra Holidays , offering condo vacations at hotel prices. Year after year, our worldwide team of associates delivers exceptional vacation experiences to millions of families as they make life’s favorite memories. At Wyndham Destinations, our world is your destination.

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TRAVEL + LEISURE inspires and empowers the world’s most curious and passionate travelers to travel more–and travel better. We help elevate reader's experiences through content and tools that aid in the entire journey, from dreaming to planning to booking to traveling.

Wyndham Destinations Acquires Travel + Leisure Brand from Meredith Corporation in Strategic Alliance; Wyndham Destinations to Be Renamed Travel + Leisure Co.

• Leading leisure travel company has acquired the iconic, trusted travel brand to accelerate its strategic plan to broaden reach with launch of new travel services, expand its membership travel business, and amplify the global visibility of its leisure travel products
• The new Travel + Leisure Co. will trade on the NYSE under the ticker symbol TNL in mid-February 2021
• Travel + Leisure’s successful multi-platform media assets, renowned for journalistic excellence, will continue to be operated by Meredith Corporation to serve clients and consumers
• This strategic alliance between two industry leaders will continue to grow the Travel + Leisure (T+L) brand globally and create new business opportunities

(ORLANDO, FL/DES MOINES, IA, January 6, 2021)  â€“  Wyndham Destinations  (NYSE:WYND) and  Meredith Corporation  (NYSE:MDP) today announced that Wyndham Destinations has acquired the Travel + Leisure brand and all related assets from Meredith Corporation, combining the travel company’s portfolio of resort, membership, and lifestyle travel brands with the world’s most trusted travel lifestyle content curator and its travel clubs. This acquisition will accelerate Wyndham Destinations’ strategic plan to build on its leading position as the world’s largest vacation club and exchange company and expand into new leisure travel and licensing markets.

“We acquired Travel + Leisure, including access to its global audience of 35 million loyal followers across multiple platforms and nearly 60,000 club members, because it matches our passion and purpose to put the world on vacation. Over the past 18 months, we have laid the foundation to expand our footprint beyond our core vacation ownership business, and today we add one of the most trusted and influential brands in travel through the acquisition of Travel + Leisure,†said Michael D. Brown, president and chief executive officer of Wyndham Destinations. “This iconic brand, along with its authoritative content and wide audience, will help accelerate and amplify the growth of new capital-light travel businesses and services, as we take the next step in expanding our reach within the global leisure travel industry.â€

In early 2021, Wyndham Destinations will change its name to Travel + Leisure Co. and will expand its portfolio through various branded products and offerings. The new company will inspire travelers with Travel + Leisure’s expert multi-platform content to grow its membership travel club businesses, launch new branded travel services, and expand brand licensing agreements under its Travel + Leisure Group.

The new Travel + Leisure Co. stock will begin trading under the ticker symbol NYSE:TNL in mid-February 2021.

Meredith will continue to operate and monetize Travel + Leisure’s media across multiple channels, including its advertising and marketing activities, under a 30-year royalty-free, renewable licensing relationship. The agreement ensures that the brand’s long-standing commitment to high-quality, independent travel journalism will continue under the leadership of Travel +Leisure Editor-in-Chief Jacqui Gifford and SVP/Group Publisher, Travel + Leisure Giulio Capua.

“As new stewards of the Travel + Leisure brand, we are committed to ensuring that the integrity and independence of its trusted, authoritative journalism remains uncompromised. I’m very pleased that Meredith will continue producing the number one travel content brand and major monthly consumer magazine under the leadership of Editor-in-Chief Jacqui Gifford,†Brown said. “For 50 years, Travel + Leisure has offered travel inspiration to tens of millions across the world through immersive, transportive experiences across many channels. Its dedicated readers rely on the brand as a window into the world’s best destinations, cultures, and experiences, and we look forward to supporting Meredith as it continues that mission.â€

Transaction Details

• The $100 million acquisition will be funded with cash on hand of $35 million paid at closing, with trailing payments completed by June 2024. In addition, Wyndham Destinations has agreed to a five-year marketing commitment across Meredith’s portfolio of brands.
• Travel + Leisure Co. will continue to maintain its current portfolio of brands and products, with Wyndham Destinations now serving as the umbrella brand for its vacation club resorts, which will continue to leverage the power of the Wyndham Rewards program, and with Panorama operating the exchange, membership travel, and technology businesses.
• The acquisition is expected to be neutral to earnings for the new Travel + Leisure Co. in year one and accretive in year two. The acquisition includes Travel + Leisure’s travel clubs and their nearly 60,000 members.
• Travel + Leisure Co. will license the brand to Meredith to continue operating and monetizing T+L’s media platforms in a long-term agreement.

“This strategic alliance brings a new, innovative approach to media brand development, and we’re excited to leverage Wyndham Destinations’ and Meredith’s strengths to enhance and realize Travel + Leisure’s full potential,†said Meredith Chairman and Chief Executive Tom Harty. “This is a great demonstration of the value that strong brands deliver when expanded beyond the media space, and we look forward to developing more of these creative, value-enhancing programs across our portfolio.â€

Travel + Leisure Editor-in-Chief Jacqui Gifford said, “I’m delighted that Wyndham Destinations has such a deep understanding of and excitement for Travel + Leisure, and in partnership with Meredith profoundly shares our mission to inspire and empower the world’s most curious and passionate travelers. I’ve spent time getting to know Michael Brown. I’m thrilled that he appreciates the legacy and integrity of this brand, and I look forward to working with him. We will continue to produce and deliver independent, award-winning journalism and rich, immersive storytelling, transporting our passionate audience across numerous platforms to compelling destinations around the world. With Wyndham’s backing and support, T+L is poised to accelerate its growth and flourish beyond our content while continuing to benefit from Meredith’s successful track record in operating media brands.â€

“The Wyndham Destinations alliance is a win-win strategy and is indicative of our interest in collaborating with industry leaders to optimize the potential of our many other powerful Meredith media brands,†said John Zieser, Meredith Chief Development Officer.

The transaction is not expected to change employment at either company.

Deutsche Bank Securities Inc. is serving as financial advisor and Kirkland & Ellis LLP is serving as legal advisor to Wyndham Destinations on this transaction. Cooley LLP is serving as legal advisor to Meredith Corporation.

About the new Travel + Leisure Co.

In the first quarter of 2021, Travel + Leisure Co. becomes the world’s leading membership and leisure travel company, with a portfolio of nearly 20 resort, travel club, and lifestyle travel brands. The company provides outstanding vacation experiences and travel inspiration to millions of owners, members, and subscribers every year through its products and services: Wyndham Destinations, the largest vacation ownership company with 230 vacation club resort locations across the globe; Panorama, the world’s foremost membership travel business that includes the largest vacation exchange company, industry-leading travel technology, and subscription travel brands; and Travel + Leisure Group, featuring top online and print travel content, online booking platforms and travel clubs, and branded consumer products. At Travel + Leisure Co., our global team of associates brings hospitality to millions, turning vacation inspiration into exceptional travel experiences. We put the world on vacation.

About Wyndham Destinations

Wyndham Destinations  (NYSE: WYND), the world’s largest vacation club and exchange company, is on a mission to put the world on vacation. The company offers more than 4 million members and owner families the opportunity to own, exchange, or rent their vacation experience while enjoying quality, flexibility, and great value from a trusted brand. The company’s Wyndham Vacation Clubs offer 230 resorts that provide a contemporary take on the timeshare model through brands  Club Wyndham ®,   Worldmark® by Wyndham , and  Margaritaville Vacation Club® by Wyndham . With a global presence in 110 countries, the company’s membership travel business –  Panorama  â€“ includes today’s leading vacation exchange, leisure travel, and technology brands, including  RCI , the global leader in vacation exchange that provides access to 4,200+ affiliated resorts, and  Extra Holidays , offering condo vacations at hotel prices. Year after year, our worldwide team of associates delivers exceptional vacation experiences to millions of families as they make life’s favorite memories. At Wyndham Destinations, our world is your destination.

About Meredith Corporation

Meredith Corporation  (NYSE: MDP), a leading media company for nearly 120 years, produces service journalism that engages audiences with essential, inspiring, and trusted content. Meredith reaches consumers where they are across multiple platforms, including digital, video, print, and broadcast television. Meredith’s National Media Group reaches nearly 95 percent of all U.S. women and more than 190 million unduplicated American consumers every month through such iconic brands as PEOPLE, Better Homes & Gardens, Allrecipes, Southern Living, and REAL SIMPLE. Meredith’s premium digital network reaches more than 150 million consumers each month. The company is the No. 1 U.S. magazine operator with 36 million subscribers and the No. 2 global licensor with robust brand licensing activities that include a Better Homes & Gardens partnership with Walmart. Meredith’s Local Media Group portfolio includes 17 television stations reaching 11 percent of U.S. households and 30 million viewers. Meredith’s portfolio is concentrated in large, fast-growing markets, with seven stations in the nation’s Top 25 markets, including Atlanta, Phoenix, St. Louis, and Portland, and 13 stations in the Top 50.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws. Words, and variations of words, such as “will,†“expect,†“intend,†“believe,†“plan,†and similar expressions are intended to identify these forward-looking statements, including statements about the expected results of the transaction and the future prospects for, and plans of, the company. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the company’s control, which could cause actual results to differ materially from those indicated in the forward-looking statements. Results may be materially affected by factors including (without limitation) unanticipated costs and/or delays, unfavorable reaction by customers, partners, employees, or suppliers, future revenues being lower than expected, failure or inability to implement growth or expansion strategies in a timely manner or at all, local and global political and economic conditions, and other risks described in the company’s filings with the Securities and Exchange Commission, including the company’s most recently filed Annual Report on Form 10-K. The reader is cautioned not to rely on these forward-looking statements. All forward-looking statements are based on information currently available to the company and are qualified in their entirety by this cautionary statement. The company does not assume any obligation to update any such forward-looking statements or other statements included in this press release.

Media Contacts:          

Vanessa Picariello Wyndham Destinations (407) 569-6234                                                          [email protected]

Jill Davison Meredith Corporation (917) 280-0475 [email protected]

Investor Relations Contacts:

Christopher Agnew Senior Vice President, FP&A and Investor Relations  Wyndham Destinations (407) 626-4050 [email protected]

Mike Lovell Executive Director, Corporate Communications Meredith Corporation (515) 284-3622 (office) (515) 771-1585 (mobile) [email protected]

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8 Incredible Hotels Where Famous Authors Have Lived and Worked

Any one of these luxe options is a great place to write your next chapter.

One of the most magical travel experiences is watching the setting of a favorite book come to life: Think reading The God of Small Things in India, Midnight in the Garden of Good and Evil in Savannah, or A Room with a View in Florence, seated by your own window overlooking the piazza. But there’s a way to step deeper into a story — by staying in a hotel where an author you admired once lived and wrote. If you’re imagining spartan hovels inhabited by ink-stained wretches, stop now. The eight options include coastal villas in Greece and along the Riviera, an island idyll in the Caribbean, an ornate former convent in South America, and a private game reserve in South Africa. Cast yourself as the protagonist of a page-turner, skim the selections below, then go ahead and book a trip.

Hotel Belles Rives, Juan-les-Pins, France

Courtesy of Belles Rives Hotel

F. Scott Fitzgerald didn’t just sleep here. In 1925, when it was a private home, he rented what was then called the Villa Saint Louis as a summer place for himself, his wife Zelda, and their daughter, Scottie. They loved it so much that they returned the next two summers, and the author kept busy socializing with luminaries including Picasso and Gerald and Sara Murphy, writing Tender Is the Night, which is set in Antibes, and helping transform the coastal fishing villages of the Riviera into a summer playground. In 1929, with the Fitzgeralds gone, the villa opened as the Hotel Belles Rives , a landmark resort that continues to party on, Jazz Age style, and is still run by the same family that launched the property. There’s a beach club, a Michelin-starred restaurant (La Passagere), and the Bar Fitzgerald. Each year, the resort awards the Prix Fitzgerald to a writer whose work embodies Fitzgerald’s spirit, keeping his legend alive on-site. As for guests, the hope is that they will experience some of the joy the author himself felt in the space. A plaque at the hotel is engraved with the following lines from a 1926 letter from Fitzgerald to Hemingway: “With our being back in a nice villa on my beloved Riviera (between Nice and Cannes), I’m happier than I’ve been for years. It’s one of those strange, precious, and all too transitory moments when everything in one’s life seems to be going well.”

Sun Valley Lodge, Sun Valley, Idaho

As for Hemingway himself, his happy place seems to have been Sun Valley, Idaho, where he could do all his favorite things: hunt and fish in what is now the Silver Creek Preserve, eat and drink at Michel’s Christiana’s restaurant, and write. He discovered his own private Idaho in 1939 when he was invited to be a celebrity writer in residence at the Sun Valley Lodge as part of the property’s PR initiative to attract guests to the new resort, which opened in 1937. Hemingway finished For Whom the Bell Tolls there in 1939 while staying in Suite 206 with Martha Gelhorn, who became his third wife. You can follow in his footsteps by booking the Celebrity Suite named for him (other options include former visitors Clint Eastwood and Sonia Henie). But guests in any of the 108 rooms on the property can enjoy the vast spa, outdoor pool, restaurants, and yoga studio — when they’re not out horseback riding in summer, skiing in winter, or generally being rugged and outdoorsy, like Papa himself.

The Patrick and Joan Leigh Fermor House, Kardamyli, Greece

This stone sanctuary overlooking a cove in the Mani, one of the windswept peninsulas in Greece’s Peloponnese, comes by its double-billed name, honestly. Patrick was the World-War-II-hero-turned-travel-writer who immortalized the region in his travelogue Mani and decided to build a home there. He recalled seeing “all these wild mountains, and the olives and the water and the islands,” and thinking, “Here would be an ideal place to live.” However, it was former debutante Joan who sold her jewelry to fund the building of the villa. In their wills, they left the property to Greece’s Benaki Museum, which utilizes it as a retreat for scholars for nine months of the year and allows Aria Hotels to offer it to guests during the summer, thus funding the renovation and upkeep of the place. With Paddy and Joan’s books on the shelves, their former housekeeper dishing up meals, and the round tabletop he rolled down the mountainside to install in the living room, the house reverberates with dynamic couple’s personalities throughout. But you could know nothing about them and still love this retreat for the stone steps leading to the cove below (where Paddy swam until he was 94), the tree-lined pool, and the endless views.

GoldenEye, Oracabessa Bay, St. Mary, Jamaica

Courtesy of GoldenEye

When Ian Fleming bought his property in Jamaica in 1946, he named it after the British naval operation that first brought him to the island during World War II. He wrote all 13 James Bond novels in the villa he had built on-site. ( Dr. No, Live and Let Die and The Man with the Golden Gun are also set on the island.) Today, the Fleming Villa is just one of the accommodation options in the GoldenEye resort complex, which has grown from Fleming’s original 15 acres to 52 under the ambitious eyes of Chris Blackwell, the founder of Island Records. (Fun fact: Blackwell purchased GoldenEye from Bob Marley, who had bought it from Fleming.) If not staying in the author’s former home, guests can also choose from the “beach huts” on the cove, cottages whose steps lead right into the lagoon, or roomier villas, all complete with outdoor showers. They’re welcome to practice spycraft or write bestselling thrillers. But they might opt for paddleboarding, snorkeling, or kayaking instead. Sunbathing by one of the pools with a tropical drink (heavy on the Blackwell Rum) is not frowned upon.

Hotel Santa Clara, Cartagena, Colombia

Chris Kewish/Courtesy of Sofitel Legend Santa Clara Cartagena

A convent for almost 250 years (from 1621 to 1861), the Hotel Santa Clara then spent the next century and change as a charity hospital, a prison, and a medical school before debuting as a hotel in 1995. A local landmark within a walled city so historic it’s been named a World Heritage by UNESCO, the Hotel Santa Clara (now part of the Sofitel Legend Collection) has always been the site of dramatic plot twists. This was true even back in 1949 when then-cub-reporter Gabriel García Marquez went to cover excavation work in the former convent and witnessed a crypt that held a skeleton with a long mane of red hair. The incident inspired his short story Of Love and Other Demons. Today, hotel guests can tour the same crypt and a hall named after the Nobel prize winner, carved with quotes from his books, in the company of one of the hotel butlers. Spending the day lounging by the pool bar (once the nuns’ orchard) is a fine option, and exploring the magical realist city is an even better one. Still, you wouldn’t be the first guest to while away the hours roaming the hallways searching for hidden confessionals.

Old Cataract Aswan, Aswan, Egypt

Agatha Christie’s beloved second husband was an archaeologist. And while he excavated pharaohs’ tombs, the Mrs. kept busy writing Death on the Nile. She penned the blockbuster bestseller in a suite with a Nile view at the Old Cataract Hotel. Perhaps unsurprisingly, her book characters stayed at the same institution. Today, this grand hotel, too, is part of the Sofitel Legend Collection, and you can venerate Christie’s mahogany desk and wicker chair in the lobby or visit her suite on a walking tour. The building itself could be a historical monument, a Victorian gem dating back to 1899. (Winston Churchill also stayed here, bumping into Christie more than once.) When you’re not geeking out over Christie’s suite or sitting in your own wicker chair watching the feluccas sail by, you can swim in the palm-tree-ringed pool, order flambéed desserts at the 1902 Restaurant on-site, or head off the property to visit the temple of Abu Simbel (with its massive statues of Ramesses II) or the Aswan Botanical Garden. Just take a lesson from Christie’s characters and watch your back.

The Saxon Hotel, Villas, and Spa, Johannesburg, South Africa

When this luxurious hotel was the luxurious private home of the Steyn family, Nelson Mandela, having been released from prison, stayed with them for six months, completing his memoir, Long Walk to Freedom. It was converted into a 26-suite hotel in 2020 and has since expanded with more villas. However, Mandela’s influence can still be seen in the graceful reception area, where the collection of artwork includes Dean Simon’s “The Five Faces of Mandela,” which depicts the Nobel Peace Prize winner in various stages of life from a young boy to an elder statesman. Of course, there’s also the Nelson Mandela Platinum Suite, reachable via a glass elevator and complete with a 24-hour butler. (Yes, it was created out of Mandela’s very own guest suite when he stayed here.) 

You’ll enjoy the art-filled halls, the elegant restaurant Qunu, which serves vegetables grown on-site in the garden, and the central infinity pool. But if you really want to follow in Mandela’s footsteps, you’ll also book a visit to the Saxon’s sister property, Shambala , a private game reserve where Mandela, again hosted by Steyn, spent summers as South Africa’s first democratically elected president until he died in 2013. At Shambala, you’re liable to spot hippos, leopards, and elephants on the reserve and inside the Nelson Mandela Villa , you’ll notice a Picasso on the wall.

The Sofitel Metropole Hanoi, Hanoi, Vietnam

You might be better off asking which writer known for depicting Vietnam of days gone by didn’t stay at the Metropole rather than which ones did. The grand hotel opened in 1901 and almost immediately became a literary haven. Somerset Maugham wrote The Gentleman in the Parlour, his Asian travelogue, here, and Graham Greene penned The Quiet American in the hotel while on assignment from Paris Match. Marguerite Duras also checked in, and the hotel, with its French haute cuisine restaurant, Le Beaulieu, and grand architecture, conjures the atmosphere of her novel The Lover, which chronicles a forbidden affair steeped in the country’s French colonial era. (Sadly, Duras does not have a suite named after her, although Maugham, Greene, and Charlie Chaplin, who honeymooned here with Paulette Goddard in 1936, do.) 

The country’s military, as well as literary, history is alive here, too; when the Bamboo Bar was being renovated in 2011, workers stumbled upon the sealed-off bunker that protected guests — including famous activists Jane Fonda and Joan Baez — from 1964 to 1973, during what the hotel calls The American War. With over 120 years of history behind its stately doors, the Metropole (the first hotel in Sofitel’s Legends collection) is an atmospheric place to write your travelogue, have your own illicit romance, or explore the rediscovered bunker.

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