Cendant Corp. on Thursday said that Wyndham Worldwide Corp., its wholly owned subsidiary and intended parent company of its hospitality services unit, has filed with U.S. regulators to spin off the division.

Cendant, a holding company which owns online travel agency Orbitz and Avis car rental, said it expected the transaction to occur in the summer of 2006.

The company said it planned to file to spin off its travel division by October 2006, as well as consider selling the unit.

Sources: Reuters