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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;;

Stock News for Wyndham Worldwide Corp (WYN)
02/17/201712:40:04Annual Report (10-k)
02/16/201716:08:09Current Report Filing (8-k)
02/16/201715:07:00ResortQuest Becomes Exclusive Hospitality Company for 30A's Newest...
02/15/201707:12:21Current Report Filing (8-k)
02/15/201706:30:00Wyndham Worldwide Reports Fourth Quarter and Full Year 2016 Results
02/14/201712:14:33Amended Statement of Ownership (sc 13g/a)
02/13/201717:32:39Amended Statement of Ownership (sc 13g/a)
02/10/201714:05:51Amended Statement of Ownership (sc 13g/a)
02/10/201711:33:31Schedule 13g
02/09/201717:17:07Annual Statement of Changes in Beneficial Ownership (5)
02/09/201715:49:00Wyndham® Extra Holidays Announces "Ski Getaway" Travel Deals
02/09/201711:08:32Schedule 13g
02/02/201708:58:38Amended Statement of Ownership (sc 13g/a)
01/27/201706:10:49Amended Statement of Ownership (sc 13g/a)
01/19/201706:00:00Wyndham Grand Comes Ashore in Clearwater Beach
01/18/201711:52:00Wyndham Worldwide Releases 2016 Corporate Social Responsibility...
01/10/201716:05:00Wyndham Worldwide to Report Fourth Quarter and Full Year 2016...
12/21/201609:30:00Wyndham Worldwide Receives Highest Ever Rating for Corporate...
12/19/201617:11:42Statement of Changes in Beneficial Ownership (4)
12/16/201617:56:00Holiday Inn Club Vacations and RCI Build on 35 Year History...

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