|
BOLD by Wyndham, a new program designed to engage and advance more Black entrepreneurs on the path to hotel ownership, is reaping dividends.
In just over six months, the program has birthed 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 (NABHOOD), Black employment in the hotel industry represents nearly 20 percent of all team members in the industry, though less than two percent of hotel owners are Black.
BOLD by Wyndham, which stands for Black Owners and Lodging Developers, was established to address the unique challenges faced by Black entrepreneurs through the scale, relationships and resources of Wyndham.
The program is built around two key pillars: 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, Vice President, 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.”
|