S&P Dow Jones Indices is set to add Wyndham Worldwide Corp. to the S&P MidCap 400 Global Industry Classification Standard Hotels, Resorts & Cruise Lines Sub-Industry index, effective before market open May 31.
The hospitality company is being moved to the S&P MidCap 400 in anticipation of the impending spinoff of its Wyndham Hotels & Resorts unit into a stand-alone hotel business.
Meanwhile, Wyndham Hotels will be added to the same index, effective before market open June 1.
Wyndham Worldwide will rebrand as Wyndham Destinations Inc., which will remain in the S&P MidCap 400, post-spinoff.
S&P Dow Jones Indices and S&P Global Market Intelligence are owned by S&P Global Inc.
