Wyndham Hotels & Resorts Appoints Amit Sripathi Chief Development Officer

Rhea-AI Summary

Wyndham Hotels & Resorts (NYSE: WH) has appointed Amit Sripathi as Chief Development Officer, reporting to CEO Geoff Ballotti. Sripathi will lead the North American franchise sales team, focusing on expanding Wyndham's midscale-and-above portfolio and its select-service segments. Sripathi's experience in mergers & acquisitions and capital markets will be instrumental in this role. During his tenure at Wyndham, he has helped divest owned and managed segments, resulting in a pure-play U.S. franchise business. With a record development pipeline and 15 consecutive quarters of organic net room growth, Sripathi aims to build on Wyndham's market-leading position. Outgoing Chief Development Officer Chip Ohlsson will leave in June after significantly expanding Wyndham's brand portfolio and championing diversity initiatives.

Positive

• Amit Sripathi appointed as Chief Development Officer, brings extensive experience in real estate and hospitality sectors.
• Sripathi's strategic approach has led to the divestment of owned and managed segments, creating a pure-play U.S. franchise business.
• Wyndham boasts 15 consecutive quarters of organic net room growth.
• The company has the largest development pipeline in its history.
• Chip Ohlsson's tenure saw the expansion of Wyndham's brand portfolio from 14 to 25 brands.

Negative

• Chip Ohlsson, a key leader in franchise sales and diversity initiatives, will be leaving the company in June.

Real estate and hospitality veteran to lead Wyndham's accelerating growth strategy

PARSIPPANY, N.J., May 17, 2024 /PRNewswire/ -- Wyndham Hotels & Resorts (NYSE: WH) appointed Amit Sripathi Chief Development Officer reporting to the Company's President and Chief Executive Officer, Geoff Ballotti. Sripathi will lead Wyndham's North American franchise sales team as they help hotel owners tap into the power of the world's largest hotel franchise company and its iconic brands.

"Amit's deep experience in mergers & acquisitions and capital markets focused on the real estate and hospitality sectors at Deutsche Bank and RLJ Lodging are instrumental as we increase our focus on growing our midscale-and-above portfolio while reinforcing our leading position in the resilient select-service segments," said Ballotti. "Since joining Wyndham, Amit has demonstrated a strategic approach to growth. He's helped divest our owned and managed segments leading to a pure-play U.S. franchise business and worked with our sales teams across the country and around the world deploying over $250 million in development support for our owners. He hits the ground running, knowing what our franchise sales teams need to continue outperforming expectations."

"With 15 consecutive quarters of organic net room growth and our largest development pipeline ever, it's clear that existing and prospective franchisees appreciate Wyndham's market-share leading brands and the world-class sales, marketing and distribution systems curated for their individual needs," said Sripathi. "Together with the best franchise sales team Wyndham has ever assembled, we will help even more owners discover the power of partnering with Wyndham and experiencing our Owner-First^SM approach."

After a successful career, which began at Wyndham's predecessor company, Hospitality Franchise Systems, Chip Ohlsson, Chief Development Officer, will be leaving the Company in June. During his tenure, Chip helped expand the Wyndham portfolio from 14 to 25 brands including ECHO Suites Extended Stay by Wyndham, the industry's fastest-growing, new-construction brand launch. A champion for diversity on the franchise sales team and for owners, Chip was instrumental in creating groundbreaking programs like Women Own the Room^SM (an industry first) and BOLD ^SM by Wyndham, which help make our industry more diverse while bringing new owners into the Wyndham family.

"From launching his sales career with us in 1993, to returning nearly ten years ago to lead our North America franchise sales teams, Chip has shown unwavering commitment to Wyndham and our franchisees," said Ballotti. "We are extremely grateful for his proven leadership and ability to attract, promote and develop a best-in-class sales team that consistently delivers, and we wish him all the best."

Images associated with the above release can be downloaded here.

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 approximately 876,000 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 over 106 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.

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SOURCE Wyndham Hotels & Resorts

FAQ

Who is the new Chief Development Officer of Wyndham Hotels & Resorts?

Amit Sripathi has been appointed as the new Chief Development Officer of Wyndham Hotels & Resorts.

What role will Amit Sripathi play at Wyndham Hotels & Resorts?

Amit Sripathi will lead the North American franchise sales team and focus on expanding Wyndham's midscale-and-above portfolio.

What achievements has Wyndham Hotels & Resorts reported recently?

Wyndham has reported 15 consecutive quarters of organic net room growth and its largest development pipeline ever.

When is Chip Ohlsson leaving Wyndham Hotels & Resorts?

Chip Ohlsson will be leaving the company in June.