Cendant is no more as it splits into real estate, hospitality, vehicle renting and travel distribution spin offs. Cendant which never able to recover after 1998 accounting scandal has taken this step to separate publicly traded companies to pacify the investors. Now the time will only tell how the market recognizes the company’s value as its entire wing will compete with each other.
The travel network which includes Orbitz, Cheap Tickets, Galileo, RCI will not be moved from its present New York location. However the Real Estate Unit (Century 21, International Realty, Coldwell Banker, ERA), Hospitality (Ramada, Wyndham, Days Inn and other half a dozen travel brands) and Vehicle Renting will be located at N.J.
Let’s hope it gets going much better this time and its worldwide 85,000 employees find more reasons to enjoy the New Year in style.
