Wyndham Expands in the Extended-Stay Sector
Photo Credit: A kitchen in a WaterWalk property, the extended stay brand Wyndham launched in April 2024. Wyndham
Skift Take
WaterWalk, Wyndham’s 25th brandstands out from other hotel brands in that it lets owners sell a mix of rooms, with about 60% marketed as extended-stay hotel rooms and about 40% marketed as short-term rentals.
The DJIA was down 397 points while Nasdaq was down 156, the S&P 500 fell 38 points and the 10-year treasury yield went up another .04 to 4.37%. Lodging stocks were lower, in fact, if it was not for Ashford Inc. (AINC), it would have been nearly across the board. AINC surged 114% on the news below. SLNA, on the other hand, traded down to another new low and is almost a dime, closing at $0.11. VCSA was down -5% on the day.
Ashford Inc. said a Special Committee of independent and disinterested directors recommended, and the Board of Directors approved, a plan to terminate the registration of the Company’s common stock following the completion of a proposed reverse stock split transaction and then a forward stock split transaction. Let us break this down in a way most can understand. AINC will do a 1 for 10,000 reverse stock split. By getting rid of all shareholders that hold under 10,000 shares,
