0000930661-01-501919.txt : 20011009
0000930661-01-501919.hdr.sgml : 20011009
ACCESSION NUMBER: 0000930661-01-501919
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20011002
ITEM INFORMATION: Other events
ITEM INFORMATION: Financial statements and exhibits
FILED AS OF DATE: 20011003
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: WYNDHAM INTERNATIONAL INC
CENTRAL INDEX KEY: 0000715273
STANDARD INDUSTRIAL CLASSIFICATION: HOTELS, ROOMING HOUSE, CAMPS & OTHER LODGING PLACES [7000]
IRS NUMBER: 942878485
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 8-K
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-09320
FILM NUMBER: 1751144
BUSINESS ADDRESS:
STREET 1: 1950 STEMMONS FRWY
STREET 2: STE 6001
CITY: DALLAS
STATE: TX
ZIP: 75207
BUSINESS PHONE: 2148631000
MAIL ADDRESS:
STREET 1: 1950 STEMMONS FRWY
STREET 2: STE 6001
CITY: DALLAS
STATE: TX
ZIP: 75207
FORMER COMPANY:
FORMER CONFORMED NAME: BAY MEADOWS OPERATING CO
DATE OF NAME CHANGE: 19920703
FORMER COMPANY:
FORMER CONFORMED NAME: PATRIOT AMERICAN HOSPITALITY OPERATING CO\DE
DATE OF NAME CHANGE: 19970723
8-K
1
d8k.txt
FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
October 2, 2001
Wyndham International, Inc.
(Exact name of registrant as specified in its charter)
Delaware 1-9320 94-2878485
(State or other (Commission (IRS employer
jurisdiction of file number) identification no.)
incorporation or
organization)
1950 Stemmons Freeway, Suite 6001
Dallas, Texas 75207
(Address and zip code of principal executive offices)
Registrant's telephone number, including area code:
(214) 863-1000
Item 5. Other Events
On October 2, 2001, Wyndham International, Inc., a Delaware corporation,
issued a press release, a copy of which is attached hereto as Exhibit 99.1 and
is hereby incorporated by this reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits
The following Exhibit is filed herewith:
99.1 Press Release.
[SIGNATURE PAGE FOLLOWS]
2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
WYNDHAM INTERNATIONAL, INC.
By: /s/ RICHARD A. SMITH
-------------------------------------------
Richard A. Smith, Executive Vice President and
Chief Financial Officer
Date: October 3, 2001
3
EXHIBIT INDEX
Exhibit
Number Description
------ -----------
99.1* Press Release.
__________________
* Filed herewith.
4
EX-99.1
3
dex991.txt
PRESS RELEASE
Exhibit 99.1
------------
Wyndham International Provides Business Update; Hotels Managing for Recovery
DALLAS--(BUSINESS WIRE)--Oct. 2, 2001--Fred J. Kleisner, chairman and chief
executive officer of Wyndham International (NYSE:WYN) today issued the following
statement:
"The tragedies of September 11 have created a wound to our nation, and our
hearts go out to all of the victims, as well as those who have worked so
tirelessly to respond to these extraordinary events. Although Wyndham
International, like others in our industry, has experienced a slowdown, I want
to assure our customers, employees, stockholders and business partners that the
company has implemented a solid recovery plan. Further, the 164 Wyndham-branded
properties and the 69 non-proprietary branded properties continue to generate
cash for the company and, importantly, serve the needs of our guests.
Although occupancy has not yet returned to former levels, during the past two
weeks we have seen indications of improvement in demand through both hotel
occupancy and Wyndham's Central Reservations. Further, the cancellations we
experienced were concentrated to September and October and many of the group
meetings are now rescheduled. We are confident that the immediate efforts of
the federal government to provide assistance to the airline industry and
increase airport security will help the entire hospitality and travel industry
recover quickly."
Wyndham maintains a solid cash position with access to a revolving credit line
through its banking relationships. Given the industry-wide impact of the
attacks, Wyndham's banking syndicate has waived certain covenants during the
third and fourth quarters. To reflect the emerging new operating environment,
the company and the bank group are working together on a long-term amendment
targeted for completion by February 28, 2002. In connection with the waiver,
the company has agreed to defer the cash dividend on the preferred stock. "The
company is appreciative of the banking syndicate partnership during this
difficult time," said Kleisner.
Wyndham's plan for recovery has included the furlough or layoff of approximately
1,600 employees at both the property level and corporate headquarters,
representing slightly more than 5% of the total workforce. Additionally, a
substantial number of employees are now working reduced hours; as hotel
occupancies rise the employees are planned to again work full schedules. The
Wyndham Operations Team continues to evaluate ways to reduce costs particularly
in those select markets where occupancy has not yet rebounded.
Additionally, the company has put capital projects on-hold, but still plans to
complete the Wyndham Newark Airport this year. The vitality of Wyndham is
further demonstrated by the recently announced management and franchise
contracts of newly branded properties: the Wyndham Sapphire Beach Club in St.
Maarten, The Kelley House and The Harbour View, Wyndham Luxury Resorts in
Martha's Vineyard, Mass., and the Wyndham Pittsburgh Airport.
The company will sponsor a conference call with the investment community on
Friday, October 5, 2001 at 10:00 a.m. CST. The call will also be simulcast on
www.wyndham.com.
Wyndham International, Inc. 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.
Cautionary Statement
This press release contains certain forward-looking statements within the
meaning of Sections 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, including projections about future operating
results. The Company's results could differ materially from those set forth in
the forward-looking statements. Certain factors that might cause a difference
include, but are not limited to, risks associated with the availability of
equity or debt financing at terms and conditions favorable to Wyndham; risks
associated with the course of litigation; Wyndham's ability to effect sales of
assets on favorable terms and conditions; Wyndham's ability to integrate
acquisitions into its operations and management; risks associated with the hotel
industry and real estate markets in general; competition within the lodging
industry; the impact of general economic conditions; risks associated with debt
financing; and other risks and uncertainties set forth in the company's annual,
quarterly & current reports and proxy statements.
CONTACT: Wyndham International, Dallas
Media Contacts:
Andrew Jordan, 214/863-1360
ajordan@wyndham.com
or
Analyst Inquiries:
Elizabeth Williams, 214/863-1389
ewilliams@wyndham.com