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Wyndham, Former Parent Reach Deal With IRS; To Post Gain

DOW JONES NEWSWIRES Wyndham Worldwide Corp. (WYN) said Wednesday it and its former parent have reached a settlement with the Internal Revenue Service about a long-running dispute involving a deferred tax liability. The move will result in a roughly $40 million gain for the lodging company in the third quarter. Wyndham expects to pay about $145 million in the period to resolve issues involving former parent Cendant's 2003 through 2006 federal tax returns. Cendant broke up four years ago, with Wyndham being one of the offshoots. Wyndham had set aside $185 million for the IRS matter. The company--which operates the Ramada, Howard Johnson and Days Inn hotel chains--said in April its first-quarter earnings rose 11% on fewer charges as it reported stronger timeshare revenue and got a boost from favorable exchange rates. Second-quarter results are due on July 28. Shares closed at $21.29 Tuesday and weren't active premarket. The stock has risen 5.6% this year. -By Jodi Xu, Dow Jones Newswires; 212-416-3037; jodi.xu@dowjones.com;

Stock News for Wyndham Worldwide Corp (WYN)
DateTimeHeadline
04/24/201510:00:00Wyndham Worldwide Named to DiversityInc's Top 50 Companies for...
04/16/201515:17:00Wyndham Vacation Ownership Takes Home ARDA ACE Community Service...
04/15/201510:03:00Fourth Annual RCI® Green Award Celebrates Top Sustainable Affiliated...
04/14/201509:49:00The Registry Collection Adds Two Hilton Grand Vacations Club...
04/13/201513:10:00RCI Makes the Virtual Presentation a Reality for Affiliates with...
04/13/201505:26:19My Top Hotel, Restaurant And Leisure Stocks For 2015
04/03/201516:20:45Current Report Filing (8-k)
04/02/201519:14:00The Wyndham Reef Resort Grand Cayman a new offering
04/02/201516:08:05Additional Proxy Soliciting Materials (definitive) (defa14a)
04/02/201516:05:56Proxy Statement (definitive) (def 14a)
04/01/201508:41:31Comparing America's Next 3 Lodging Companies
04/01/201508:40:00Wyndham Rewards Revolutionizes Loyalty Landscape with Easier...
03/31/201517:03:00Wyndham Hotel Group to Migrate Central Reservations to Sabre...
03/26/201516:05:00Wyndham Worldwide Announces a New Unsecured Credit Facility and...
03/24/201513:00:00It's Lights Out at Wyndham Worldwide for Annual Earth Hour Event
03/24/201509:00:00Wyndham Worldwide to Report First Quarter 2015 Earnings on April...
03/17/201516:47:43Statement of Changes in Beneficial Ownership (4)
03/17/201516:47:14Statement of Changes in Beneficial Ownership (4)
03/12/201509:00:00Wyndham Worldwide Named as a 2015 World's Most Ethical Company...
03/10/201517:12:32Statement of Changes in Beneficial Ownership (4)

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