Dive Brief:
- Wyndham Hotels & Resorts launched a new community-building program for its BOLD and Women Own the Room franchisees, designed to connect them with a network of existing owners and industry experts through quarterly, small-group virtual meetings, the company announced Monday.
- Through the Accelerator Circle program, BOLD, which stands for Black Owners and Lodging Developers, and WOTR franchisees will be able to engage in expert-led roundtable discussions on securing financing, hotel renovations, development and operations.
- The program, a product of direct owner feedback, is Wyndham’s latest move to diversify hotel ownership by supporting underrepresented entrepreneur groups, Galen Barrett, vice president of strategic franchise initiatives, shared with Hotel Dive.
Dive Insight:
Accelerator Circle was designed to give franchisees access to peer-to-peer connections and expert mentorship, according to Barrett.
With the BOLD and WOTR communities growing — currently with a combined 90 hotel contracts signed — the franchisees wanted an additional resource to connect and learn from shared experiences and best practices, Barrett explained.
The quarterly meetings will operate like a roundtable discussion, led by industry professionals, where owners can ask questions and have open dialogues with other franchisees regarding their concerns or barriers they face.
Each discussion will have an overarching topic, with the inaugural meeting focused on how to best leverage your franchisor or brand, WaterWalk CEO Mimi Oliver told Hotel Dive. Oliver — who joined forces with BOLD and WOTR after WaterWalk became Wyndham’s 25th brand earlier this year — will lead the first meeting as an expert advisor, telling Hotel Dive that these initiatives have “solidified” WaterWalk’s partnership with Wyndham.
Subsequent Accelerator Circle meetings will be centered on topics like capital fundraising and operational optimization, selected from franchisee polling, according to Barrett. The meetings are for both BOLD and WOTR members, allowing the members to “tap into the breadth of a wide amount of experience and perspective,” he added.
The overall goal of the program is to assist Black and women entrepreneurs in hotel ownership and “expand diversity in the industry,” Oliver said.
While Black employment in the hotel industry represents nearly 20% of all team members, less than 2% of hotel owners are Black, according to The National Association of Black Hotel Owners, Operators and Developers. And both Black and women employees are underrepresented in leadership roles across the hospitality industry.
