Wyndham Hotels & Resorts is building on its previously launched Black Owners and Lodging Developers (BOLD) and Women Own the Room initiatives and has launched Accelerator Circle. Created on the foundation of building community for diverse hoteliers, the new initiative will provide access to peer-to-peer connections and mentorship.
With Accelerator Circle, BOLD and Women Own the Room franchisees will get exclusive access to Wyndham’s network of owners and industry veterans through quarterly, small-group virtual meetups focused on fast-tracking hotel openings and maximizing performance.
BOLD and Women Own the Room offer customized solutions to help break down common challenges when pursuing hotel ownership. Together, these two initiatives have resulted in more than 90 hotel deals, Wyndham said in a release, adding that Black and women hoteliers have opened over 20 hotels. Accelerator Circle will help Wyndham bring greater diversity to hospitality, the lodging company said.
“Navigating hotel ownership isn’t easy, with many owners facing the same challenges over and over. Wyndham’s Accelerator Circle connects a dynamic community for Black and women entrepreneurs who haven’t always had the support of our industry,” said Galen Barrett, VP, strategic franchise initiatives, Wyndham Hotels & Resorts. “It’s a space for owners to exchange knowledge, learn from seasoned pros and the expected result? A more diverse industry with a new wave of empowered, savvy owners.”
Designed to assist entrepreneurs from the time they consider ownership till their journey in opening the hotel, both BOLD as well as Women Own the Room stress on creating an interactive community that supports diversity. Accelerator Circle will take this emphasis to the next level by enabling connection among these owners, encourage them to learn from shared experiences and grow together as a community.
Accelerator Circle sessions will focus on topics that come directly from franchisees — securing financing, hotel renovations, development and operations and others. Sessions will be led by industry professionals, ranging from Wyndham team members, industry experts and owner peers; facilitating peer-to-peer discussions and providing insights on the real-time concerns owners face.
The first session for Accelerator Circle will be conducted by WaterWalk CEO Mimi Oliver, who will lead a discussion on optimizing relationships with franchisors. Oliver has spearheaded the development, opening and operations for several hotels and raised more than $100 million in equity for WaterWalk. Earlier this year, WaterWalk launched a strategic relationship with Wyndham to create a new brand, WaterWalk Extended Stay by Wyndham, which became the 25th brand to join Wyndham’s portfolio.
“Hotel ownership is challenging, and I’ve seen firsthand how valuable it is to have a circle of supporters to help navigate those difficulties and drive success. I was drawn to Wyndham because of their dedication to increasing diversity in hospitality, and Accelerator Circle is one meaningful way I can give back to inspire future generations — especially those who might not see a clear path—to join our fantastic industry,” Oliver said.
Future sessions will be hosted on topics spanning fundraising, construction and renovation, creating an optimal staffing model and more.
In March, Women Own the Room initiative achieved a milestone, following 15 hotel openings and more than 50 signings in just over 24 months. Launched in early 2022, the program aims to be a resource to help overcome common barriers women face in hotel development and empower them to open and run their own hotels.
In early 2023, Wyndham announced that its BOLD program signed deals for 18 properties in just over 18 months in the U.S. Identifying the “immense gap” in the representation of Black hotel owners, the program seeks to advance and engage Black hoteliers by addressing the commonly-faced challenges through Wyndham’s scale, resources and relationships.