Wyndham Hotels & Resorts has expanded its BOLD by Wyndham program. In seven months, participants in the initiative have signed deals for 18 hotels across the U.S., including 10 under its newly launched Echo Suites Extended Stay by Wyndham brand.
Based on data provided by the National Association of Black Hotel Owners, Operators and Developers, Black employment in the hotel industry represents nearly 20 percent of all team members in the industry, though less than 2 percent of hotel owners are Black, and fewer than 1 percent of hotels are owned by Black women. BOLD by Wyndham, which stands for Black Owners and Lodging Developers, was established to engage and advance Black hoteliers by addressing the unique challenges faced by Black entrepreneurs through the scale, relationships and resources of Wyndham. The program is built around promoting hotel ownership as a vehicle for potential wealth creation and accelerating the path to hotel ownership.
“There’s an immense gap when it comes to the representation of Black hotel owners, which is why it’s crucial that players like Wyndham find and champion new opportunities to drive diversity,” said Galen Barrett, VP of strategic development, Wyndham Hotels & Resorts. “With agreements for nearly 20 hotels in our pipeline, BOLD by Wyndham is proving there is opportunity in our industry for Black entrepreneurs and that our industry will be all the better for it.”
Among the hotels currently in the BOLD by Wyndham pipeline, 10 are affiliated with Wyndham’s newly launched Echo Suites Extended Stay by Wyndham brand. Twin brothers Dubi and Chuchu Ajukwu, co-managing partners of VANA Partners, are the developers behind the deal.
“Chuchu and I are well-versed in the worlds of residential and commercial real estate and for years, our vision was to build a company leveraging our institutional experience in those sectors,” Dubi Ajukwu said. “That vision still holds true but has since evolved to have extended-stay and hospitality at its center. Participating in BOLD by Wyndham has not only enabled us to break into competitive markets with immense growth potential but also allowed us to leverage the scale and resources of the world’s largest hotel franchising company.” Working toward a long-term goal of an established footprint throughout Florida and beyond, the brothers anticipate breaking ground on their first hotel in Daytona Beach later this year.
Wyndham has approximately 9,100 hotels open in more than 95 countries.