Wyndham Worldwide Franchise Boasts a 277 Percent Increase in Diversity Spending
2009 Marked an Impressive Year for Wyndham Worldwide's Spending With Suppliers Owned by Minorities, Women and Other Diverse Groups
April 23, 2010 // Franchising.com // PARSIPPANY, N.J. — Wyndham Worldwide (NYSE:WYN), one of the world's largest hospitality companies, announced a 277 percent increase in diversity spending in 2009. Wyndham Worldwide's Supplier Diversity Council executed and maintained a steady procurement with qualified and competitive diverse businesses – companies owned by minorities, women and other diverse groups.
The Supplier Diversity Council oversaw an increase from 1.8 percent diverse spending in 2008 to 4.5 percent in 2009, as a result of incremental spending with its diversity suppliers. When adjusted to reflect the competitive set, Wyndham Worldwide's penetration rate grew to 6.8 percent.
"We are very proud of the significant increase in our diverse supplier spending during 2009," said Stephen P. Holmes, chairman and chief executive officer. "It is imperative that we continue to develop unique approaches to make clear progress in diversifying our supplier base. The Supplier Diversity Council is an integral part of Wyndham Worldwide's culture and a vital element to our success."
Created in 2008 as a response to the explosive growth of minority, women-owned and other diverse suppliers, the Supplier Diversity Council aims to partner with such suppliers to generate new ideas and opportunities. Such partnerships strengthen our economy and communities.
Chaired by Tom Anderson, executive vice president and chief real estate development officer, and Jose Nido, director of supplier diversity, strategic sourcing, the council also reaches across all of Wyndham Worldwide's business units with a "Supplier Diversity Champion" representing each area of business.
"I am extremely proud of the Supplier Diversity Council's dedication to assessing the quality of minority owned businesses and selecting competitive vendors. In just a short time, we have managed to make a significant difference in our spending totals. We look forward to continuing to seek out opportunities that will make a difference in the years to come," said Anderson.
During 2010, Wyndham Worldwide's Supplier Diversity Council will continue to expand supplier diversity internationally (UK and China) and enhance supplier diversity in the areas of marketing and awareness.
About Wyndham Worldwide Corporation
As one of the world's largest hospitality companies, Wyndham Worldwide offers individual consumers and business-to-business customers a broad suite of hospitality products and services across various accommodation alternatives and price ranges through its premier portfolio of world-renowned brands. Wyndham Hotel Group encompasses approximately 7,110 franchised hotels and approximately 597,700 hotel rooms worldwide. Wyndham Exchange and Rentals offers leisure travelers, including its 3.8 million members, access to over 65,000 vacation properties located in approximately 100 countries. Wyndham Vacation Ownership develops, markets and sells vacation ownership interests and provides consumer financing to owners through its network of over 155 vacation ownership resorts serving over 820,000 owners throughout North America, the Caribbean and the South Pacific. Wyndham Worldwide, headquartered in Parsippany, N.J., employs approximately 25,000 employees globally.