DALLAS, Jun 25, 2002 (BUSINESS WIRE)—Wyndham International, Inc. (NYSE:WYN) today announced it has successfully resolved its singular, quantitative compliance issue with the New York Stock Exchange and will continue trading on the Exchange.
Following the events of Sept. 11, 2001, the average closing price of the Wyndham International stock fell below $1.00 for a consecutive thirty-day trading period. As a result, the stock was not in compliance with this Exchange guideline. The Company has been in a six-month cure period, which ended June 21, 2002. At the close of trading on June 21, 2002 Wyndham`s stock was trading at $1.08, with the thirty-day average closing price of the stock at $1.16.
“We are pleased to have successfully resolved the compliance concern and we remain 100 percent focused on executing our business plan to efficiently and effectively operate hotels,” stated Wyndham International Chairman and Chief Executive Officer Fred J. Kleisner.
Wyndham International, Inc. offers upscale and luxury hotel and resort accommodations through proprietary lodging brands and a management services division. Based in Dallas, Wyndham 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.