The economic slowdown and resulting drop-off in business has prompted Wyndham International to lay off some 700 of its hotel managers and 150 corporate staff members so far this year.  

"Given the impact of the economic downturn on the entire lodging industry, we have taken decisive steps in cost containment and revenue generation while not compromising customer service," said Wyndham chief executive Fred J. Kleisner this week in announcing second-quarter losses.

The company reported a net loss of $12.3 million, compared to $46.5 million in the second quarter of 2000. The majority of cuts took place in June and July. A reported 350 employees remain at Wyndham's corporate offices, with about 29,000 people working at 240 Wyndham hotels, most of which are located in North America. Some analysts see Wyndham as a takeover target, possibly by Six Continents, which was formerly known as Bass Hotels. Wyndham has incurred some $3 billion in debt.