DALLAS, Jun 7, 2002 (BUSINESS WIRE)—Wyndham International, Inc. (NYSE:WYN) today announced it would not proceed with the issuance of senior secured notes as previously announced on May 17, 2002.
“We found the market conditions not deep enough to issue the notes on terms that made sense to the Company and its shareholders,” stated Wyndham International Chairman and Chief Executive Officer Fred J. Kleisner. “We appreciate the hard work of the underwriters and potential investors, but since the Company does not have any bank debt maturities until June 30, 2004 we feel it prudent to evaluate the market later and continue to execute our strategic plan.”
Wyndham International, Inc. (NYSE:WYN) offers upscale and luxury hotel and resort accommodations through proprietary lodging brands and a management services division. Based in Dallas, Wyndham International owns, leases, manages and franchises hotels and resorts in the United States, Canada, Mexico, the Caribbean and Europe. For more information, visit www.wyndham.com. For reservations, call 800-Wyndham.