Wyndham International Sets Luxury Unit Realignment; Holtzman To Resign As President Of Division

8th Sep 1999

Wyndham International (NYSE:WYN) announced today a realignment of its luxury division, Grand Bay Hotels & Resorts, to integrate it more closely with the company`s sales and corporate operations.
“Our luxury group will continue as a separate brand and operating unit. The luxury business is very important to Wyndham International and we will continue its growth and improvement,” said James D. Carreker, chairman and chief executive officer. “This realignment is consistent with the previously announced plan to streamline and simplify the organization into a fully integrated company.”

Under the realignment, most of the luxury support operations will be based in Dallas, with the Phoenix division office closing this week. A regional operations office will be established at The Boulders, one of the luxury division`s resorts near Phoenix. Wyndham International`s national sales organization will handle key accounts for Grand Bay in addition to Wyndham Hotel and Resorts, Wyndham Garden Hotels, Summerfield Suites and other proprietary brands.

In addition, Richard A. Holtzman has resigned as president of Grand Bay, effective Oct. 1, to pursue his personal entrepreneurial interests in the hospitality industry. He will continue to serve as a consultant to the company and assist with business development. William J. Nassikas, who has been with the luxury group for 14 years, will continue to serve as senior vice president of operations, based at The Boulders. He will report to Brian R. Gamache, who will serve as president of the luxury and resort division, with responsibility for Grand Bay and Wyndham Resorts.

“We look forward to a continuing relationship with Dick Holtzman. He has been instrumental in the entire history and development of The Boulders and the luxury resorts. His reputation and leadership within the industry, and his vision, integrity, style and eye for quality, have been important to our company and our people,” said Fred J. Kleisner, president and chief operating officer of Wyndham International.

“It has been a pleasure to work with Carefree Resorts, Grand Bay and Wyndham International,” Holtzman said. “I look forward to continuing to assist Wyndham and wish them all the best as they move forward.”


Kleisner added: “We are delighted that Bill Nassikas will continue to play an important role in our luxury division. He is an outstanding hospitality executive who will provide the leadership to enhance our luxury portfolio and operating performance. Bill will report to Brian Gamache, who has a strong background as a resort executive. Together, they represent a powerful leadership team for Wyndham International`s luxury business.”

Grand Bay Hotels & Resorts include destination resorts and urban hotels. The nine existing and future properties are located in the United States, Puerto Rico and Mexico and are distinguished by highly personalized guest services and unique settings. Properties include The Boulders in Carefree, Arizona, Carmel Valley Ranch in Carmel Valley, California, Grand Bay Hotel Coconut Grove in Miami, Florida, and development projects such as the Grand Bay Hotel Chicago and a luxury resort near Laguna Niguel, California.



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