Wyndham International sells hotel trademark.

Wyndham International, Inc. has purchased the lease of the Wyndham Hotel in Manhattan, located at 42 W. 58th St., from Suzanne Mados, the hotel's proprietor since 1966 and holder of the exclusive right to the "Wyndham" name and trademark in New York City. As a result, Wyndham International will now become the operator of the hotel, with complete usage rights to its proprietary brand name to expand its distribution in New York City through new development opportunities. Terms of the transaction were not disclosed.

"This is a momentous day for the entire Wyndham family as we look to expand our brand in the No. 1 business and leisure market in the world," said Fred J. Kleisner, chairman and chief executive officer of Wyndham International. "With this transaction now complete, we will aggressively pursue new development opportunities in multiple locations throughout New York City to fly our brand flag."

While the Wyndham Hotel will retain its "Wyndham" name in compliance with the existing ground lease, it will not be marketed as part of the Wyndham brand until a thorough property evaluation is complete. However, the company will immediately upgrade all guest rooms and the lobby area.

The Wyndham Hotel in Manhattan, which originally opened in 1929, features 136 spacious guest rooms, half of which are large, two-room suites. For 75 years, countless guests have been welcomed through its doors, including many Broadway celebrities who stayed there long-term. Due to the property's long history with the "Wyndham" name, John and Suzanne Mados, by virtue of the lease, held the usage rights for the "Wyndham" name and trademark in Manhattan. Until now, this prohibited Wyndham International from entering the city with a branded hotel.