SOURCE: Wyndham Worldwide

December 06, 2007 12:34 ET

Wyndham Hotels and Resorts Opens First Hotel in Panama

PARSIPPANY, NJ--(Marketwire - December 6, 2007) - The Wyndham Hotels and Resorts brand will fly its first flag in Panama with the conversion of the five-star, 301-room Veneto Hotel & Casino in Panama City to The Veneto, A Wyndham® Grand Hotel.

Peter Strebel, Wyndham Hotels and Resorts president, said the introduction of the Wyndham brand in Panama is part of the brand's strategy to pursue flagship Wyndham hotel properties in key international and gateway cities.

"The addition of The Veneto, A Wyndham Grand Hotel, to our collection of first-class Wyndham properties further establishes our position as a global hospitality company and demonstrates the strength of the Wyndham brand," he said. "Our intent is to fully augment this hotel's premier status through our training, reservations and marketing platforms."

Silver Entertainment, the gaming and hospitality investment arm of The Andalex Group, a New York City-based real estate organization, will operate the hotel. The Andalex Group is a family-owned, full-service real estate organization founded in 1989 by Allen Silverman that specializes in property acquisition, development, construction management and leasing.

"After an extensive search, we selected the Wyndham brand for our flagship hotel," said Alex Silverman, Silver Entertainment co-president. "We are proud to introduce this prestigious upscale brand name in Panama and believe it will attract a whole new group of foreign tourists to our shores."

The Veneto, A Wyndham Grand Hotel, is located on Via Veneto in Panama City's financial and business district between Via Eusebio A. Morales and Via Espana, 20 minutes from Panama's Tocumen International Airport.

The hotel offers four restaurants, a full-service spa and fitness center, rooftop pool, business center, 15,000 square feet of meeting space and a Las Vegas-style casino with more than 40,000 square feet of gaming area, making it one of the largest casinos in Latin America. The hotel, now undergoing a multimillion-dollar renovation, is remodeling its guest rooms and suites, restaurants and casino.

Wyndham Hotels and Resorts, a subsidiary of Wyndham Worldwide Corporation (NYSE: WYN), offers upscale hotel and resort accommodations throughout the United States, Canada, Europe, Mexico and the Caribbean. All hotels are either franchised or managed by Wyndham Hotels and Resorts or an affiliate. For more information, visit www.wyndham.com.

EDITORS: Photos of this hotel are available on request. High-resolution logos and other hotel photos can be downloaded from www.wyndhamimages.com. Log in under the user name "service" and the password "excellence." For more information about Wyndham Worldwide Corporation and its businesses, go to www.wyndhamworldwide.com.

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