Wyndham Hotels & Resorts has revealed that its BOLD by Wyndham program has signed deals for 18 hotels across the U.S. in just over six months, including 10 under its newly launched ECHO Suites Extended Stay by Wyndham brand.
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 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, VP, 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.”
Twin brothers Dubi and Chuchu Ajukwu, co-managing partners, VANA Partners and graduates of Dartmouth College and Harvard Law School and Harvard Business School, respectively, are the developers behind the deal involving the 10 hotels affiliated with the ECHO Suites brand.
“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,” said Dubi Ajukwu. “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.”
Pivotal to the Ajukwu brothers’ selection of Wyndham was the company’s commitment and flexibility in working with them to identify and develop hotels in the markets that matter most to them. 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, FL, later this year.
