Wyndham Worldwide Boasts a 277 Percent Increase in Diversity Spending
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Wyndham Worldwide Boasts a 277 Percent Increase in Diversity Spending
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Category: Worldwide - Industry economy -
Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2010-04-27
2009 Marked an Impressive Year for Wyndham Worldwide's Spending With Suppliers Owned by Minorities, Women and Other Diverse Groups
Wyndham Worldwide (NYSE:WYN), one of the world’s largest hospitality companies, announced a 277 percent increase in diversity spending in 2009. Wyndham Worldwide’s Supplier Diversity Council executed and maintained a steady procurement with qualified and competitive diverse businesses – companies owned by minorities, women and other diverse groups.
The Supplier Diversity Council oversaw an increase from 1.8 percent diverse spending in 2008 to 4.5 percent in 2009, as a result of incremental spending with its diversity suppliers. When adjusted to reflect the competitive set, Wyndham Worldwide’s penetration rate grew to 6.8 percent.
“We are very proud of the significant increase in our diverse supplier spending during 2009,” said Stephen P. Holmes, chairman and chief executive officer. “It is imperative that we continue to develop unique approaches to make clear progress in diversifying our supplier base. The Supplier Diversity Council is an integral part of Wyndham Worldwide’s culture and a vital element to our success.”
Created in 2008 as a response to the explosive growth of minority, women-owned and other diverse suppliers, the Supplier Diversity Council aims to partner with such suppliers to generate new ideas and opportunities. Such partnerships strengthen our economy and communities.
Chaired by Tom Anderson, executive vice president and chief real estate development officer, and Jose Nido, director of supplier diversity, strategic sourcing, the council also reaches across all of Wyndham Worldwide’s business units with a “Supplier Diversity Champion” representing each area of business.
“I am extremely proud of the Supplier Diversity Council’s dedication to assessing the quality of minority owned businesses and selecting competitive vendors. In just a short time, we have managed to make a significant difference in our spending totals. We look forward to continuing to seek out opportunities that will make a difference in the years to come,” said Anderson.
During 2010, Wyndham Worldwide’s Supplier Diversity Council will continue to expand supplier diversity internationally (UK and China) and enhance supplier diversity in the areas of marketing and awareness.
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