Skift Take
There is a big gender and diversity gap among hotel developers.
Wyndham Hotels & Resorts, the world’s largest hotel franchisor, unveiled a new program Monday to boost diversity in hotel ownership.
The initiative, dubbed Accelerator Circle, aims to provide networking and mentorship opportunities for Black and women entrepreneurs who want to become thriving hotel developers.
Why it matters: Less than 2% of hotel owners are Black, and less than 10% are women, highlighting a significant diversity gap in the industry.
Key Points:
- Quarterly virtual meetups will connect franchisees with industry experts and peer mentors. “The topics will be relevant based on a poll we’ll take of the community ahead of time,” said Galen Barrett of Wyndham, VP of strategic franchise initiatives.
- The mentorship program builds on Wyndham’s existing BOLD and Women Own the Room programs. These programs connect potential and current hoteliers with expert access to capital or advice on design, construction, and operational excellence.
- These programs have already facilitated more than 90 hotel deals with Black and women hoteliers, resulting in over 20 newly opened properties.
- The new peer-based program focuses on fast-tracking hotel openings and maximizing performance for diverse owners.
Mimi Oliver, CEO of WaterWalk, which Wyndham acquired earlier this year, will lead the first Accelerator Circle session this fall. Oliver brings significant industry experience to the role, having overseen the development and operations of numerous hotels and raised more than $100 million in equity for the brand.
“Throughout my career in the past, I’ve had some really incredible mentors and frankly, I don’t know if I’d be where I am currently without them,” Oliver said.
When asked for her high-level advice for potential women and Black hoteliers, Oliver urged them to speak up.
“Use your voice,” she said. “Be that squeaky wheel. Really enhance those relationships. Focus on building those partnerships.”
The Accelerator Circle program will let Black and women entrepreneurs ask nitty gritty questions.
“For example, if an owner is in the development phase and needs to get approvals from the city, that can be a complex process, and if you’re having an issue with it, this peer network can help connect you with someone who has already been through a similar process,” Oliver said.
As the world’s largest hotel franchisor, with approximately 9,200 hotels across over 95 countries, Wyndham’s initiative could have a far reach.
What’s next: Wyndham will monitor engagement and community growth as key indicators of the program’s success, with expectations of a “multiplier effect” as participants spread awareness within their communities.
