Wyndham International

Patriot American Hospitality was formed in April 1995 as a real estate investment trust (REIT) and made its initial public offering in October 1995.

[10] The firm grew rapidly in the late 1990s, acquiring multiple portfolios of hotels and renaming them Wyndhams.

In March 1999, the group agreed to a $1 billion restructuring when a consortium of private equity firms, including Thomas H. Lee Partners and Apollo Real Estate Advisors, assumed control of the company.

[12] From 1999 to 2004, the firm struggled to pay down debt and was forced to sell off many of the hotels it had acquired in the late 1990s, often at a deep discount in an industry still suffering from the effects of the 9/11 terrorist attacks.

[16] In the months following the sale, Blackstone transferred 14 of the owned-and-operated hotels to its newly created LXR Luxury Resorts brand,[14] and sold 14 others to Columbia Sussex for $1.4 billion.