PARSIPPANY, N.J., Dec. 9, 2015 /PRNewswire/ -- Wyndham
Worldwide Corporation (NYSE: WYN) ("Wyndham" or the "Company")
today issued the following statement regarding its settlement with
the Federal Trade Commission ("FTC") resulting from the FTC's
investigation of data breaches that occurred at some Wyndham Hotels
and Resorts-brand hotel properties from 2008 to 2010.
"We are pleased to reach this settlement with the FTC, which
does not hold Wyndham liable for any violations, nor require
Wyndham to pay any monetary relief. We chose to defend against this
litigation based on our strong belief that we have had reasonable
data security in place, and that the FTC's position could have had
a negative impact on the franchise business model. This settlement
resolves these issues, and sets a standard for what the government
considers reasonable data security of payment card information.
Safeguarding personal information remains a top priority for our
company at a time when companies and government agencies are
increasingly the targets of cyberattacks."
Several years ago, Wyndham Hotels and Resorts, LLC was the
victim of sophisticated cyberattacks by criminal hackers, who
accessed customer information at certain Wyndham Hotels and
Resorts-brand hotel properties. The Company promptly alerted law
enforcement agencies, retained computer forensic experts,
implemented significant security enhancements, and assisted
franchised Wyndham Hotels and Resorts-brand hotels in reinforcing
their information security. Wyndham also made prompt efforts to
notify the hotel customers whose information may have been
compromised, and offered them credit monitoring services.
Importantly, to date Wyndham has not received any indication that
any hotel customers experienced financial loss as a result of these
attacks. The FTC conducted an investigation of this matter and
Wyndham cooperated fully. Following are the key terms of the
settlement between Wyndham and the FTC announced today:
- Wyndham will not pay any monetary relief.
- The Company is granted a Safe Harbor if it continues to meet
certain requirements for "reasonable information security" outlined
in the FTC's consent order.
- The consent order applies only to payment card information, and
does not apply to any other categories of personally identifiable
information. Payment Card Industry ("PCI") certification will
satisfy Wyndham's reporting requirement and provide the basis for
the Safe Harbor.
- The duration of Wyndham's obligations under the consent order
will in no event be longer than 20 years, and in several areas will
be shorter.
About Wyndham Worldwide
One of the world's largest
hospitality companies, Wyndham Worldwide (NYSE: WYN) provides a
wide range of hospitality services and products through its global
portfolio of world-renowned brands. The world's largest hotel
company based on the number of properties, Wyndham Hotel Group is
home to many of the world's best-known hotel brands, with
approximately 7,760 franchised hotels and approximately 672,000
hotel rooms worldwide. Wyndham Exchange & Rentals is the
worldwide leader in vacation exchange and the world's largest
professionally managed vacation rentals business, providing more
than 5 million leisure-bound families annually with access to over
110,000 vacation properties in over 100 countries through its
prominent exchange and vacation rental brands. The industry and
timeshare ownership market leader, Wyndham Vacation Ownership
develops, markets, and sells vacation ownership interests and
provides consumer financing to owners through its network of over
210 vacation ownership resorts serving approximately 900,000 owners
throughout the United States,
Canada, Mexico, the Caribbean, and the South Pacific. Based in
Parsippany, NJ, Wyndham Worldwide
employs over 34,000 associates globally. For more information,
please visit www.wyndhamworldwide.com.
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SOURCE Wyndham Worldwide