The ‘Women Own the Room’ initiative by Wyndham supports female business owners
In its first year, Wyndham Hotels & Resorts’ Women Own the Room program, which aims to support female entrepreneurs, has signed more than 30 hotels in the U.S. and Canada.
According to Wyndham, the program’s goal is to give women “financial solutions for new construction and conversion projects with enhanced capital support and reduced initial franchise fees.” It was launched in January 2022.
Data from the hospitality industry shows that women are underrepresented in roles involving hotel ownership, real estate, and investment funding, according to a 2021 press release from Wyndham.
While the hospitality industry is one of the most diverse, Castell Project research from 2021 found that diversity in the industry’s upper echelons and ownership was lacking. Despite women making up the majority – 70% – of the service sector workers in the hospitality industry, they only hold 10% of hotel development positions. Equal opportunity is important to Wyndham Hotels & Resorts, which is why the company supports initiatives to increase the number of women in leadership roles and the number of women who are financially independent.
“Representation matters. Opening doors for traditionally underrepresented owners unlocks potential and possibility and paves the way for others to follow,” Wyndham Hotels & Resorts Chief Marketing Officer Lisa Checchio said, per Travel Pulse.
“Women play a critical role in the hotel industry, and Women Own the Room is breaking down barriers to actively change the face of hotel ownership,” Checchio added. In addition, Wyndham stated that the program creates a welcoming environment for networking and continuing education for women in the hospitality industry, as well as providing members with individualized operational support.
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This story was originally published March 24, 2023 at 11:35 AM with the headline "The ‘Women Own the Room’ initiative by Wyndham supports female business owners."