Cendant Board Approves Spin-Off, Aggressive Franchising

Cendant Corp.'s board approved the spinoffs of its real estate and hospitality units, now to be called Realogy and Wyndham Worldwide Corp and will list in the New York Stock Exchange under the symbols "H" and "WYN.". Realogy consists of franchise brands such as Century 21, Coldwell Banker, and ERA Real Estate. Wyndham is considered the second largest hotel franchiser, with properties under the Super 8, Days Inn and AmeriHost Inn brand names. 

According to Motley Fool , this is all part of Cendant's master plan, in hopes that the sum of its parts prove more valuable than its whole. The move also provides a boon to franchise development. In regards to Realogy's franchise future:

[Vice Chairman and President of Realogy] Smith said the company had enormous advantage in its established brands, and that in a tough market, it may pick up more business in its franchise operations as independents agents seek a corporate umbrella. Realogy has franchises in 50 states and 59 countries. In a presentation the company gave in the months leading up to the spinoff, the company cited its growth in franchises beating the rest of the industry.