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Wyndham Destinations acquires travel magazine

During a time of struggle for the hospitality industry, a timeshare company has found a unique way to make revenue.

Orlando-based rental and timeshare company Wyndham Destinations is acquiring Travel + Leisure magazine from Meredith Corp., reports Skift. In the $100 million deal Wyndham will change its name to Travel + Leisure Co. and Meredith will continue to operate all media through a licensing agreement. Wyndham will also acquire Travel + Leisure’s travel clubs, which has 60,000 members.

According to Skift, the move helps Wyndham continue to attract millennial travels. Millennials are the company’s fastest-growing sales demographic, accounting for 20% of sales in 2019. In fact, Wyndham actually posted a $40 million profit in the third quarter of 2020 timeshares becoming popular during the pandemic.

“This iconic brand, along with their authoritative content and wide audience, will help accelerate and amplify the growth of new capital-light travel businesses and services, as we take the next step in expanding our reach within the global leisure travel industry,” said Wyndham CEO Michael Brown.

All in all, Wyndham will encompass 20 brands and more than 200 vacation club resorts around the world. The move helps Meredith as well. Known for brands such as People, Entertainment Weekly and InStyle, the company lost $289 million in the third quarter of 2020. But it looks like the deal, which will see Travel + Leisure’s editor-in-chief Jacqui Gifford and publisher Giulio Capua maintain their roles, will give Meredith a boost overall.

“The Wyndham Destinations alliance is a win-win strategy, and indicative of our interest in collaborating with industry leaders to optimize the potential of our many other powerful Meredith media brands,” John Zieser, Meredith Corp.’s chief development officer, said in a statement.

 

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.