Travel + Leisure Co. is looking to ramp up development of its newly launched Sports Illustrated Resorts brand through an expanded partnership with Wyndham Hotels & Resorts.
By teaming up with the hotel giant, the company hopes to establish the framework to build, operate and scale hotels by "bringing the brand into the traditional hotel space through a differentiated model that pairs Travel + Leisure's brand stewardship, mixed-use development and management expertise with Wyndham’s global scale, distribution, development engine and commercial infrastructure," Travel + Leisure Co. said Monday.
The partnership provides more flexibility for development, with Wyndham leveraging its relationships across the industry to help identify potential development partners and asset owners.
"Sports Illustrated Resorts is bringing the power of the Sports Illustrated brand to life through travel and hospitality, building on the brand’s legacy in sports, culture and entertainment," said Michael Brown, President & CEO, Travel + Leisure Co. President and CEO Michael Brown said in a statement.
"Opening the door to traditional hotels, in partnership with Wyndham, is the next chapter for the platform, giving us new ways to extend the Sports Illustrated experience to travelers while creating distinctive opportunities for developers and asset owners," added Brown. "We’re excited about the potential to unlock even more of what the Sports Illustrated brand can deliver in hospitality."
"Sports Illustrated is one of the world’s most iconic lifestyle and entertainment brands, and its connection to sports creates a powerful opportunity in hospitality," Geoff Ballotti, President & CEO, Wyndham Hotels & Resorts, said in a statement.
"Together with Travel + Leisure Co., we have an opportunity to create immersive, year-round destinations across college towns and major urban markets, anchored in unique experiences, distinctive programming and premier sports-centric events. The result is a highly differentiated offering for developers looking to get into the high-yield sports tourism sector and one we believe is well-positioned to generate strong, year-round demand," Ballotti concluded.
Sports Illustrated Resorts Nashville has officially opened and is welcoming guests in the Music City, while other properties are slated to open soon in Chicago, Baton Rouge, Louisiana and Tuscaloosa, Alabama.
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