PARSIPPANY, N.J., April 5, 2019 /PRNewswire/ — Wyndham Hotels & Resorts (NYSE: WH) announced today that it will report first quarter 2019 results on Tuesday, April 30, 2019. Geoff Ballotti, President and Chief Executive Officer, and David Wyshner, Chief Financial Officer, will host a call with investors at 8:30 a.m. ET that morning to discuss the Company’s results and business outlook.
Listeners can access the webcast live through the Company’s website at www.investor.wyndhamhotels.com. The conference call may also be accessed by calling 877 876-9174 and providing the passcode “Wyndham”. Listeners are urged to call at least five minutes prior to the scheduled start time. An archive of this webcast will be available on the website for approximately 90 days beginning at noon ET on April 30, 2019. A telephone replay will be available for approximately ten days beginning at noon ET on April 30, 2019 at 800 374-0934.
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 810,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers more than 70 million enrolled members the opportunity to redeem points at tens of thousands of hotels, vacation club resorts and vacation rental properties globally. For more information, visit www.wyndhamhotels.com.
Hotel Leader Joins Business Coalition for the Equality Act and Earns Perfect Score as a Best Place to Work for Lesbian, Gay, Bisexual, Transgender and Queer (LGBTQ) Equality
Wyndham Hotels & Resorts team members participate in the 2018 Pride March in New York City. Photo credit: Danny Chin - Omega Photo StudiosClick to Download
PARSIPPANY, N.J. (April 4, 2019) – Wyndham Hotels & Resorts (NYSE: WH) has been recognized for its culture of inclusion by the Human Rights Campaign on the heels of reinforcing its commitment to workplace fairness for lesbian, gay, bisexual, transgender and queer (LGBTQ) team members. Within the same week of joining the Business Coalition for the Equality Act, Wyndham Hotels & Resorts earned a perfect score of 100 as a Best Place to Work for LGBTQ Equality.
“At Wyndham Hotels & Resorts, we are committed to creating an inclusive work environment where all of our team members can thrive,” says Mary Falvey, chief administrative officer, Wyndham Hotels & Resorts. “That’s why last week we raised the bar in ensuring workplace fairness by joining the Business Coalition for the Equality Act. Our pledge put an exclamation point on Wyndham Hotels & Resorts’ welcoming culture that reflects the diversity of our team members, guests, owners and communities around the world.”
On March 26, at the Diversity and Inclusion Conference in Philadelphia, Wyndham Hotels & Resorts joined the Business Coalition for the Equality Act, a group of leading U.S. employers that support the Equality Act, federal legislation that would provide the same basic protections to LGBTQ people as are provided to other protected groups under federal law.
In joining the Business Coalition for the Equality Act, Wyndham Hotels & Resorts reinforced its strong history of diverse and inclusive practices, with full leadership support, to its team members, partners and customers. As part of Wyndham Worldwide, the Human Rights Campaign named the Company as one of the Best Places to Work for LGBTQ Equality nine times with a perfect score of 100.
“For more than ten years, Wyndham has been an employer of choice among the LGBTQ community, and one that encourages team members to bring their whole selves to work,” said Patricia Lee, executive vice president of Global Learning and Development and chief social responsibility officer, Wyndham Hotels & Resorts. “Our recognition as a Best Place to Work shows that we continue to do the right thing in ensuring the environment we’re cultivating is in the spirit of hospitality.”
Recognizing that embracing inclusivity is good business, Wyndham Hotels & Resorts appeals to diverse consumers, cultivating welcoming environments in its hotels, in addition to supporting its team members. An important element of this culture is Pride, an affinity business group dedicated to fostering a culture of acceptance and equality within the Company. With local chapters in several corporate locations, Pride members raise awareness of LGBTQ issues, lead community support activities, and drive a positive impact on business practices and goals.
The 2019 Corporate Equality Index evaluates LGBTQ-related policies and practices including non-discrimination workplace protections, domestic partner benefits, transgender-inclusive health care benefits, competency programs, and public engagement with the LGBTQ community. For more information on the 2019 Corporate Equality Index, or to download a free copy of the report, visit www.hrc.org/cei.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 810,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards® loyalty program offers more than 70 million enrolled members the opportunity to redeem points at tens of thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.
PARSIPPANY, N.J., April 3, 2019 – Wyndham Rewards®, the world’s most generous rewards program, today announced the addition of new program benefits for its more than 70 million enrolled members around the globe—including the introduction of special perks designed exclusively for active and retired U.S. and Canadian military members and their spouses—all while officially welcoming more than 900 La Quinta® hotels to the program’s award-winning portfolio.
Starting today, Wyndham Rewards members can begin taking advantage of the following:
A Faster Way to Free Nights – With the introduction of three distinct redemptions tiers, free nights (go freeSM) now start at just 7,500 points per bedroom per night (half their previous redemption cost) at nearly 3,000 hotels while points + cash award nights (go fastSM) now start at just 1,500 points per bedroom per night, plus some cash.
New Places to Stay – Through the addition of the La Quinta brand, Wyndham Rewards members now have more than 900 new hotels where they can earn and redeem Wyndham Rewards points, including hotels in key destinations like Dallas, Miami, San Francisco, Seattle and Toronto, to name just a few.
New Benefits for Military Members – U.S. and Canadian military members (active, reserve, veteran or retired status) and their spouses now receive a complimentary upgrade to Gold level membership along with 1,000 bonus points on their first qualifying night. These benefits are in addition to existing discounts of 12 percent or more off the Best Available Rate at participating Wyndham Rewards hotels. (Note: Wyndham Rewards membership is not required to take advantage of the discount.)
“We’re incredibly excited about what these enhancements mean for our members, as they’re a direct response to what they told us they value most,” said Eliot Hamlisch, senior vice president of worldwide loyalty and partnerships at Wyndham Hotels & Resorts. “As champions of the everyday traveler, our goal is to deliver a simple, generous program that offers rich, meaningful rewards alongside one of the largest, most diverse redemption portfolios in the world.”
Earn on Everyday Purchases, Redeem for Incredible Rewards
In addition to the above benefits, starting today, members can take advantage of new and expanded partners making it easier than ever to earn and redeem points outside of hotel stays. Whether it’s shopping for a new spring jacket or filling up at the pump, Wyndham Rewards is encouraging members to go for itSM, making the most of everyday purchases, earning and redeeming points toward incredible rewards. Among the many ways members will be able to earn and redeem:
Shopping – Earn up to 10 points per dollar spent when shopping online through WyndhamRewards.com with select retailers, including popular brands like Target®, Apple® and Home Depot®. Plus, redeem points for merchandise, gift cards, air travel, car rentals and more.
Gas – Earn points at Marathon branded gas stations on fuel and select in-store purchases, including 2 points per gallon of gas with MakeItCount™, Marathon’s fuel rewards program. Also save 5 CentsOff® on every gallon, everyday. Plus, redeem points for fuel discount rewards starting at as few as 3,000 points.
Coming in the next few weeks:
Tours and Experiences – Earn up to 10 points per dollar spent when booking tours and experiences online through WyndhamRewards.com with Viator and redeem points for tours and experiences starting at around 1,500 points.
Food Delivery – Earn 250 points with every DoorDash order placed through wyndhamrewards.com. Plus, new DoorDash customers can earn 2,000 bonus points on their first order.
To learn more about the above Wyndham Rewards enhancements, including full details on new ways to earn and redeem, visit www.wyndhamrewards.com. A complete listing of Wyndham Rewards hotels, along with their newly assigned redemption tiers, is available at www.wyndhamrewards.com/locations.
About Wyndham Rewards Recently named the number one hotel rewards program by readers of USA TODAY, Wyndham Rewards® is the world’s most generous rewards program with more than 30,000 hotels, vacation club resorts and vacation rentals worldwide. Designed for the everyday traveler, members earn a guaranteed 1,000 points with every qualified stay and may redeem points for a wide-range of rewards, including free nights at any of more than 9,000 hotels or tens of thousands of vacation club resorts and vacation rentals globally through partnership with Wyndham Destinations (NYSE: WYND) and others. Join for free today at www.wyndhamrewards.com. You’ve earned this.®
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 810,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards® loyalty program offers more than 70 million enrolled members the opportunity to redeem points at tens of thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.
New openings bolster brand’s offerings in key cities from East to West
La Quinta by Wyndham added eight new hotels to its brand family in the fourth quarter of 2018, closing the year with nearly 30 new additions.Click to Download
PARSIPPANY, N.J.(March 6, 2019) – Wyndham Hotels & Resorts, the world’s largest hotel franchisor with approximately 9,200 hotels and 20 iconic brands, continued strengthening its bench of La Quinta by Wyndham destinations in key U.S. markets with eight new openings in the fourth quarter of 2018. The latest additions culminated a strong year of growth for the brand which saw nearly 30 new hotels – anchored by 16 new construction locations – join the La Quinta family.
The newly built hotels in Waco and Richmond, Texas, and Greensboro, N.C.; and transformational conversions in Jamestown, N.Y.; Raleigh, N.C.; Aurora, Colo.; Seattle, Wash.; and Madera, Calif., widened La Quinta’s presence in the U.S., bringing its footprint to just under 900 hotels nationwide.
The newly opened La Quinta hotels all embody elements of the brand’s guest-inspired, owner-friendly Del Sol prototype design, which combines clean geometric lines, bold colors, and varying textures with iconic brand elements and guest-centric offerings to enhance the experience while helping maximizing revenue-generating space for hotel developers. Thirty-five Del Sol-designed hotels are currently under construction across the U.S., with 43 already open and operating.
Wyndham made additional strides in furthering La Quinta’s expansion by executing 14 franchise agreements between October 1 and December 31, 2018, all but one of which were new construction deals. New construction development is a major force behind the brand’s growth trajectory, accounting for 91 percent of the 261 hotels in its pipeline as of December 31, 2018.
The brand’s steady openings rate through the back half of 2018 is testament to Wyndham’s strategic efforts to expand the brand in key markets throughout the U.S. with high quality hotels that drive a consistent portfolio. Seventeen hotels – equating to more than half of La Quinta’s 2018 additions, and ten of which were newly constructed hotels – opened under the Wyndham umbrella since the Company acquired the brand in May of last year, strengthening the Company’s position as a midscale and upper-midscale lodging leader in the U.S.
“We’re putting our guests, franchisees, and hotel developers first by adding high-caliber hotels in underrepresented markets across the country, growing our footprint to serve their needs while staying true to the elevated quality, service, and performance which have become synonymous with this brand,” said Rajiv Trivedi, president, La Quinta by Wyndham at Wyndham Hotels & Resorts.
“La Quinta’s historically solid reputation and Wyndham’s broad scale and consumer affinity have played significant roles in the brand’s evolution since joining the Wyndham family,” he continued. “The continued onslaught of new openings and new deals demonstrates the ongoing fervent demand for this brand among owners and travelers.”
Like each of its nearly 915 hotels in North and Latin America, La Quinta’s newest additions offer the brand’s signature pillow-top Bright Morning Bed®, free Bright Side Breakfast®, and spacious in-room work areas with ample charging stations. Additional features include comfortable social gathering space in each hotel’s Great Room; a sizable state-of-the-art fitness center; an on-site Bright Side Market®; free high-speed Wi-Fi; and meeting space.
ABOUT LA QUINTA BY WYNDHAM With nearly 915 destinations in North and Latin America, the upper-midscale La Quinta by Wyndham brand is a bright spot in every travelers’ journey. Whether traveling for business or leisure, guests can rest assured, relax, and recharge thanks to the brand’s Bright Morning Bed®, free Bright Side Breakfast®, spacious in-room work areas, and free high-speed internet. For more information, visit www.lq.com. Like and follow La Quinta on Facebook, Twitter, and YouTube. For more information on developing a La Quinta by Wyndham hotel, click here.
ABOUT WYNDHAM HOTELS & RESORTS
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 810,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 61 million enrolled members the opportunity to redeem points at tens of thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.
Global hospitality leader’s culture of integrity and ethical business practices are the foundation of its commanding presence in the lodging industry
PARSIPPANY, N.J. (February 26, 2019) – With a commitment to acting with integrity and a dedication to making hotel travel possible for all, Wyndham Hotels & Resorts (NYSE: WH) has been recognized as one of the 2019 World’s Most Ethical Companies by the Ethisphere Institute. This distinction marks the first global accolade for the Company and builds upon a strong Wyndham history of recognition by Ethisphere, a leader in defining and advancing the standards of ethical business practices.
“In our first year as a new public company, today’s recognition as one of the World’s Most Ethical Companies is continued reaffirmation of the inclusive, values-driven culture instilled in our team members by our former parent, Wyndham Worldwide,” said Geoff Ballotti, president and chief executive officer, Wyndham Hotels & Resorts. “Strong ethics are the foundation of our corporate culture, with integrity being one of our Company’s core values.”
The World’s Most Ethical Companies designation recognizes those companies which align principle with action, work tirelessly to make trust part of their corporate DNA, and in doing so, shape future industry standards by introducing tomorrow’s best practices today.
“Companies with effective compliance programs not only make good ethical decisions, but Ethisphere’s research demonstrates that they also outperform their peers,” said Paul Cash, general counsel and chief compliance officer, Wyndham Hotels & Resorts.
“Our ethical business practices foster great experiences and brand loyalty for our guests and for Wyndham Rewards members, as well as our Wyndham Hotels & Resorts team members,” added Samantha Vaughan, group vice president, corporate compliance and chief privacy officer.
Maintaining a strong focus on ethical practices is part of Wyndham Hotels & Resorts’ robust social responsibility commitment. Some of the Company’s activities and accomplishments include:
Creating a diverse and inclusive place to work and do business through its values-driven culture of ethics and integrity;
Developing new training programs and awareness initiatives to provide tailored guidance for corporate and hotel property-based team members on acceptable business conduct standards and how to weave compliant and ethical decision making into everyday business;
Working to protect human rights by providing hotel owners and franchisees training and awareness tools to identify human trafficking in partnership with the Polaris Project and ECPAT-USA.
The World’s Most Ethical Company assessment is based upon the Ethisphere Institute’s Ethics Quotient® (EQ) framework which offers a quantitative way to assess a company’s performance in an objective, consistent and standardized way. The information collected provides a comprehensive sampling of definitive criteria of core competencies, rather than all aspects of corporate governance, risk, sustainability, compliance and ethics. Scores are generated in five key categories: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership and reputation (10%).
About the Ethisphere Institute
The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character and measure and improve culture. Ethisphere honors superior achievement through its World’s Most Ethical Companies recognition program and provides a community of industry experts with the Business Ethics Leadership Alliance (BELA). More information about Ethisphere can be found at: https://ethisphere.com.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 810,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 61 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.
PARSIPPANY, NJ, February 19, 2019 – Wyndham Rewards®, the world’s most generous rewards program, is about to become even more rewarding this April with plans to introduce a wide-array of new features—from free nights at thousands of hotels starting at just 7,500 points (half their original redemption cost), to the addition of more than 900 La Quinta® hotels, to the ability to earn and redeem points with a host of new and expanded partners.
A direct response to research and feedback from program members, the effort underscores Wyndham’s ongoing commitment to delivering a simple, generous rewards program that’s uniquely designed for the needs of the everyday traveler. Wyndham Rewards currently has approximately 61 million enrolled members worldwide.
“We know members love the simplicity and generosity of Wyndham Rewards but we also know they want greater flexibility when it comes to where and how they can redeem their points,” said Eliot Hamlisch, senior vice president of global loyalty and partnerships at Wyndham Hotels & Resorts. “With these changes, we’re making thousands of hotels available for half the points and what’s more, drastically expanding the ways in which they can earn and redeem those points, making it easier than ever for them to engage with the program.”
Here’s what Wyndham Rewards members have to look forward to come this April:
A Faster Way to Free and Discounted Nights
Empowering more members to redeem points where and how they want, Wyndham Rewards will begin offering three tiers for both free night redemptions (go free) and points + cash redemptions (go fast). Members will also start earning points on the cash portion of points + cash redemptions.
Free Nights Starting at Just 7,500 Points
Free night redemptions will be available at 7,500 points, 15,000 points, and 30,000 points, while points + cash redemptions will be available at 1,500 points + cash, 3,000 points + cash, and 6,000 points + cash, respectively. All redemptions will be per bedroom, per night. Approximately one-third of the program’s hotel portfolio—nearly 3,000 hotels—is expected to move to the more affordable 7,500 point tier while approximately 200 properties will move into the new 30,000 point tier.
Over 30,000 Hotels, Club Resorts, Vacation Rentals and Counting Wyndham Rewards already offers one of the largest, most diverse redemption portfolios in the world and now it’s getting even bigger, from thousands of club resorts and vacation rentals to more than 900 La Quinta hotels.
Wyndham Rewards Welcomes La Quinta La Quinta hotels will officially become a part of Wyndham Rewards on April 3. Free night redemptions will start as low as 7,500 points and with every qualified stay, members will earn 10 points per dollar spent or a minimum of 1,000 points, whichever is more.
More Ways to Earn, More Ways to Redeem Providing more ways to earn and redeem points than ever before, Wyndham Rewards will debut a host of new and expanded partnerships this April. Members can look forward to earning points for food delivery through DoorDash, earning and redeeming points at Marathon gas stations, and earning and redeeming points when booking tours and activities around the globe with Viator. The program will also unveil a new shopping portal, enabling members to earn points on purchases with thousands of online retailers.
Extra Points on Stays
In addition to new earn and redeem partners, Gold, Platinum and Diamond Wyndham Rewards members will be able to earn extra points on their qualified stays with the introduction of accelerated earn. Gold members will earn 10% more in base points, Platinum members will earn 15% more and Diamond members will earn 20% more. Accelerated earn replaces point bonuses, which were previously awarded annually for Platinum and Diamond members.
The vast majority of the above program changes are anticipated to take effect starting April 3, 2019. La Quinta Returns® will officially end at 11:59 p.m. ET on April 2, 2019. Additional information related to earn and redeem opportunities with new partners is expected to be available in late March. For more information on Wyndham Rewards, including full details on the changes and new benefits listed above, visit www.wyndhamrewards.com/comingsoon.
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About Wyndham Rewards
Recently named the number one hotel rewards program by readers of USA TODAY, Wyndham Rewards® is the world’s most generous rewards program with more than 30,000 hotels, club resorts and vacation rentals worldwide. Designed for the everyday traveler, members earn a guaranteed 1,000 points with every qualified stay and may redeem points for a wide-range of rewards, including free nights at any of more than 8,000 hotels or tens of thousands of club resorts and vacation rentals through partnership with Wyndham Destinations (NYSE: WYND) and others. Join for free today at www.wyndhamrewards.com. You’ve earned this.®
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 810,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 61 million enrolled members the opportunity to redeem points at thousands of hotels, club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.
Company Increases Dividend 16% and Provides Full-Year 2019 Projections
PARSIPPANY, N.J., February 13, 2019 – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months and year ended December 31, 2018. Highlights include:
Revenues increased 69% compared with fourth quarter 2017, to $527 million.
Net income was $43 million for the quarter; adjusted net income was $57 million, a 50% increase over the prior-year quarter.
Diluted earnings per share for the quarter were $0.43 and adjusted diluted EPS were $0.58.
Further adjusted diluted EPS for the quarter (calculated as if our spin-off and our acquisition and integration of La Quinta had occurred on January 1) were $0.62.
Adjusted EBITDA increased 64% compared with the prior-year quarter, to $125 million, and grew 19% in constant currency and excluding our 2018 acquisitions and divestitures.
Further adjusted EBITDA for the quarter was $134 million, consistent with our projection of $127 to $138 million.
Global RevPAR increased 8% compared with fourth quarter 2017 and increased 2% in constant currency and excluding our 2018 acquisitions and divestitures.
System-wide rooms grew 11% year-over-year and 2% excluding our 2018 acquisitions and divestitures.
“We finished 2018 with another strong quarter, capping off a year in which we delivered strong adjusted earnings growth fueled by solid RevPAR and rooms growth while acquiring and integrating La Quinta,” said Geoffrey A. Ballotti, chief executive officer. “We expect to continue to build on this strong foundation and are enthusiastic about our prospects for 2019 as we continue to execute our strategies and deploy capital in order to enhance value for shareholders.”
Fourth Quarter 2018 Operating Results
Revenues were $527 million, compared with $312 million in the fourth quarter of 2017. Results reflect $198 million of incremental revenues from La Quinta. Excluding the impact from 2018 acquisitions and divestitures, revenues increased 6% primarily due to higher license and other fees.
Net income was $43 million, or $0.43 per diluted share, compared to $92 million, or $0.92 per diluted share in the fourth quarter of 2017. Fourth quarter 2018 results include separation-related and transaction-related expenses, and fourth quarter 2017 results include impairment expenses and an $85 million tax benefit recorded as a result of the Tax Cuts and Jobs Act.
Adjusted net income was $57 million, or $0.58 per diluted share, compared with $38 million, or $0.38 per diluted share, in the fourth quarter of 2017. Fourth quarter earnings benefited from our revenue growth and a lower effective tax rate, partially offset by higher interest expense. Full reconciliations of GAAP results to our non-GAAP adjusted measures for all reported periods appear in the tables to this press release.
Fourth quarter adjusted EBITDA was $125 million, compared with $76 million in the fourth quarter of 2017. Results reflect approximately $37 million of adjusted EBITDA from La Quinta and are consistent with the Company’s projection of adjusted EBITDA of $117 million to $127 million in the fourth quarter. Excluding the impact from 2018 acquisitions and divestitures, adjusted EBITDA increased 19% in constant currency, primarily reflecting the growth in revenues and the unfavorable effects in 2017 from hurricanes that affected our owned hotel in Puerto Rico.
The Company estimates that, if it had acquired and fully integrated La Quinta on January 1, its further adjusted EBITDA in the fourth quarter would have been $134 million, and its further adjusted diluted earnings per share would have been $0.62. See Tables 5 and 6 for additional information.
Full-Year 2018 Operating Results
Revenues were $1,868 million, compared with $1,280 million in 2017. Results reflect $513 million of incremental revenues from La Quinta. Excluding the impact from 2018 acquisitions and divestitures, revenues increased 6%, primarily due to higher license and other fees, as well as 6% higher royalties and franchise fees.
Net income was $162 million, or $1.62 per diluted share, compared to $230 million, or $2.31 per diluted share in 2017. 2018 results include separation-related and transaction-related expenses, and 2017 results include impairment expenses and an $85 million tax benefit recorded as a result of the Tax Cuts and Jobs Act.
Adjusted net income was $270 million, or $2.71 per diluted share, compared with $186 million, or $1.87 per diluted share, in 2017. 2018 earnings benefited from our revenue growth and a lower effective tax rate, partially offset by higher interest and depreciation expense.
2018 adjusted EBITDA was $507 million, compared with $383 million in 2017. Results reflect approximately
$89 million of adjusted EBITDA from La Quinta and are consistent with the Company’s projection of adjusted EBITDA of $500 million to $510 million for the full year. Excluding the impact from 2018 acquisitions and divestitures, adjusted EBITDA increased 11% in constant currency, primarily reflecting the growth in revenues.
The Company estimates that, if it had acquired and fully integrated La Quinta on January 1, its further adjusted EBITDA in 2018 would have been $600 million, and its further adjusted diluted earnings per share would have been $3.02.
As of December 31, 2018, the Company’s hotel system consisted of approximately 9,200 properties and approximately 810,000 rooms, an 11% increase compared with the fourth quarter of 2017. Room count grew 2% year-over-year, excluding our 2018 acquisitions and divestitures. The Company’s development pipeline grew to over 1,400 hotels and approximately 180,000 rooms, a 21% year-over-year room increase, including approximately 25,000 La Quinta pipeline rooms and the removal of 2,000 Knights Inn pipeline rooms. The Company also increased its pipeline sequentially by 2% compared to the third quarter, including 3% domestic growth and 1% international growth. Approximately 54% of the Company’s development pipeline is international and 73% is new construction.
Fourth Quarter 2018 Business Segment Information
The following discussion of fourth quarter operating results focuses on revenue and adjusted EBITDA for each of our segments.
Hotel Franchising
Revenues increased 37% compared to fourth quarter 2017, including $64 million of incremental revenues from La Quinta. Excluding the impact from 2018 acquisitions and divestitures, revenues increased 8%, primarily due to $13 million of higher license and other fees. Adjusted EBITDA grew 51% to $122 million, including approximately $30 million of incremental adjusted EBITDA from the acquisition of La Quinta. In constant currency and excluding the impact from 2018 acquisitions and divestitures, adjusted EBITDA grew 16%, reflecting the growth in revenues.
Hotel Management
Revenues increased $132 million compared to the prior-year period, reflecting $134 million of incremental revenues from La Quinta (including $124 million of cost-reimbursement revenues). Excluding the impact from the acquisition of La Quinta, revenues declined $2 million. Adjusted EBITDA increased $12 million compared to the prior-year quarter, reflecting $7 million of adjusted EBITDA from La Quinta and a decline in the unfavorable impact from the 2017 hurricanes on our owned hotels.
Other Items
Share Repurchases – The Company repurchased approximately 1.25 million shares of its common stock for $60 million in the fourth quarter. In the seven months after the Company’s May 2018 spin-off, the Company repurchased 2.3 million shares of stock, or 2% of shares outstanding, at a cost of $119 million. At year-end, the Company had 98.1 million shares outstanding.
Dividend Increase – The Company’s Board of Directors authorized a 16% increase in the quarterly cash dividend to 29 cents from 25 cents per share, beginning with the dividend that is expected to be declared in the first quarter of 2019.
Reacquisition of Master License Rights for Days Inn in China – The Company recently announced that it has reacquired the exclusive direct franchising rights for its Days Inn brand in China. The Days Inn system in China consists of more than 70 hotels encompassing more than 12,500 rooms. The near-term earnings contribution from this transaction is not expected to be material, but the Company now owns the exclusive rights to directly franchise and grow the Days Inn brand in China.
Outlook
The Company provided the following outlook for full-year 2019:
Revenues of $2.11 billion to $2.16 billion, an increase of 13% to 16%.
Adjusted net income of $301 million to $313 million.
Adjusted EBITDA of $605 million to $620 million, a year-over-year increase of 19% to 22%, as discussed below.
Adjusted diluted EPS of $3.05 to $3.17, based on an adjusted diluted share count of 98.7 million, which excludes future share repurchases.
Rooms growth of 2% to 4%.
Organic RevPAR growth of 1% to 3% in constant currency.
The Company views its year-over-year growth in adjusted EBITDA as follows (in millions):
More detailed projections are available in Table 6 of this press release. The Company is providing an outlook for net income, EBITDA and EPS only on a non-GAAP, adjusted basis because it is unable to predict with reasonable certainty the occurrence or amount of potential adjustments that may arise in the future.
Conference Call Information
Wyndham Hotels will hold a conference call with investors to discuss the Company’s results and outlook on Wednesday, February 13, 2019 at 8:30 a.m. ET. Listeners can access the webcast live through the Company’s website at www.investor.wyndhamhotels.com. The conference call may also be accessed by dialing 877-876-9174 and providing the passcode “Wyndham”. Listeners are urged to call at least five minutes prior to the scheduled start time. An archive of this webcast will be available on the website for approximately 90 days beginning at noon ET on February 13, 2019. A telephone replay will be available for approximately ten days beginning at noon ET on February 13, 2019 at 800 283-8486.
Presentation of Financial Information
Financial information discussed in this press release includes non-GAAP measures, which include or exclude certain items. These non-GAAP measures differ from reported GAAP results and are intended to illustrate what management believes are relevant period-over-period comparisons and are helpful to investors as an additional tool for further understanding and assessing the Company’s ongoing operating performance.
Exclusion of items in the Company’s non-GAAP presentation should not be considered an inference that these items are unusual, infrequent or non-recurring. Full reconciliations of GAAP results to the comparable non- GAAP measures for the reported periods appear in the financial tables section of this press release.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 810,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award- winning Wyndham Rewards loyalty program offers approximately 61 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rental properties globally. For more information, visit www.wyndhamhotels.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include those that convey management’s expectations as to the future based on plans, estimates and projections at the time Wyndham Hotels makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “intend,” “goal,” “future,” “outlook,” “guidance,” “target,” “estimate” and similar words or expressions, including the negative version of such words and expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Wyndham Hotels to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements contained in this press release include statements related to the Company’s revenues, earnings, cash flow, dividends and other financial and operating measures.
You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Factors that could cause actual results to differ materially from those in the forward- looking statements include without limitation general economic conditions, the performance of financial and credit markets, the economic environment for the hospitality industry, operating risks associated with the hotel franchising and management businesses, the impact of war, terrorist activity or political strife, risks related to our spin-off as a newly independent company and risks related to our ability to obtain financing as well as the risks described in the section titled “Risk Factors” in Wyndham Hotels’ Registration Statement on Form 10 and in Wyndham Hotels’ other filings with the Securities and Exchange Commission. Except as required by law, Wyndham Hotels undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise.
PARSIPPANY, N.J., Jan. 14, 2019 – Wyndham Hotels & Resorts (NYSE: WH) announced today that it will report fourth quarter and full-year 2018 results on Wednesday, February 13, 2019. Geoff Ballotti, President and Chief Executive Officer, and David Wyshner, Chief Financial Officer, will host a call with investors at 8:30 a.m. ET that morning to discuss the Company’s results and business outlook.
Listeners can access the webcast live through the Company’s website at www.investor.wyndhamhotels.com. The conference call may also be accessed by calling 877 876-9174 and providing the passcode “Wyndham”. Listeners are urged to call at least five minutes prior to the scheduled start time. An archive of this webcast will be available on the website for approximately 90 days beginning at noon ET on February 13, 2019. A telephone replay will be available for approximately ten days beginning at noon ET on February 13, 2019 at 800 283-8486.
ABOUT WYNDHAM HOTELS & RESORTS
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with more than 9,000 hotels across more than 80 countries on six continents. Through its network of over 798,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers over 59 million enrolled members the opportunity to redeem points at thousands of hotels, condominiums and holiday homes globally. For more information, visit www.wyndhamhotels.com.
“Confidence is on the rise at Wyndham Hotels & Resorts – not just among the executive team, but with franchisees who feel pretty good about its direction.” Read Full Story
Additions expand fast-growing soft brand to five countries and more than 100 locations;
Canadian roster includes five open hotels and resorts and seven recently signed deals across six provinces
Georgian Bay Hotel, Trademark Collection by Wyndham, is one of the newest additions to Trademark's growing Canadian footprint.Click to Download
PARSIPPANY, N.J., November 27, 2018 – Since launching less than 18 months ago as Wyndham Hotels & Resorts’ (NYSE:WH) first soft-brand, Trademark Collection® by Wyndham is continuing its rapid growth around the world and raising its flag in Canada with a dozen recently signed hotels and resorts spanning the country. These additions – five of which have opened doors in British Columbia and Ontario, and another seven set to open within the next year in Nova Scotia, New Brunswick, Alberta, and Saskatchewan – bolster the brand’s footprint on both sides of the Atlantic with the Trademark name now adorning more than 100 hotels in North America and Europe.
Launched in 2017, Trademark is the first soft-brand geared to three- and four-star hotel owners passionate about upholding their hotels’ independent spirit and designed for everyday travelers seeking distinctive, attainable accommodations in sought-after destinations. Today, travelers can tap global, award-winning Trademark experiences like The INFINITY Hotel & Conference Center in Munich, Germany, and the HYPERION Hotel Basel in Basel, Switzerland, as well as notable American locations like the Galt House Hotel in Louisville, Ky., Ravel Hotel in Long Island City, N.Y., and the Zermatt Utah Resort & Spa in Midway, Utah.
“This global momentum is a testament to Trademark’s mounting appeal as one of the most compelling soft-branded offerings for independent hoteliers across the globe,” said Greg Giordano, vice president, brand operations, Trademark Collection by Wyndham. “These recent landmark additions, located in some of Canada’s most coveted travel spots, underscore what it means to be a Trademark hotel—unmatched character, charm, and individuality. These hotels are now backed by the global distribution power of a leading hospitality name in Wyndham, and a team passionate about driving more travelers through entrepreneurial hoteliers’ doors every day.”
Planting Roots in the Great White North
Trademark’s Canadian additions widen the brand’s presence in North America, joining nearly 50 hotels across the U.S. The first locations flying the Trademark flag in Canada include:
Georgian Bay Hotel & Conference Centre, Trademark Collection by Wyndham, in Collingwood, Ontario:Located in one of the country’s most spectacular natural landscapes, the 94-room Georgian Bay Hotel & Conference Centre gives guests easy access to year-round outdoor activities, up-and-coming wineries, trendy boutiques and galleries, and award-winning dining in the heart of Collingwood, just 90 minutes north of Toronto Pearson International Airport. Recent renovations have transformed the hotel by infusing modern design, comfort, and enhanced functionality into its lobby, restaurant, on-site spa, indoor pool, standard guest rooms and nearly 9,400 square feet of meeting and event space, which can accommodate up to 400 guests. The hotel also offers customized leisure, event, and corporate packages.
The Plaza Hotel, Trademark Collection by Wyndham, in Kamloops, British Columbia: Built in 1928, the 67-room Plaza Hotel in downtown Kamloops balances modern decor and conveniences with historic British Columbian charm. The renovated hotel is conveniently located just steps from the city’s shops and restaurants, and close to popular attractions like Riverside Park and Exhibition Park. Complimentary hotel amenities and services include daily breakfast, wireless internet access, and access to nearby fitness and wellness centers.
Further propelling the brand’s momentum in Canada are two recently signed franchise agreements bringing seven Trademark hotels to four additional Canadian provinces. Wyndham recently executed a deal with Advanced Lodging, Inc., for three highly rated hotels in Eastern Canada scheduled to open under the Trademark brand by the end of the year: Chateau Bedford in Halifax, Nova Scotia; Chateau Moncton in Moncton, New Brunswick; and Chateau Saint John in Saint John, New Brunswick, located just two kilometers (a little over one mile) from Wyndham’s Canadian-based contact center. In Western Canada, another four Trademark locations will open their doors in 2019 in Alberta and Saskatchewan through a franchise agreement with Royal Hotel Group.
All Trademark hotels participate in Wyndham Rewards®, the simple-to-use, revolutionary loyalty program from Wyndham Hotels & Resorts. Named a best hotel rewards program for the past three consecutive years by U.S. News and World Report, Wyndham Rewards offers members a generous points-earning structure along with a flat, free night redemption rate—the first of its kind for a major rewards program. Learn more at www.wyndhamrewards.com.
ABOUT TRADEMARK COLLECTION BY WYNDHAM Each of Trademark Collection by Wyndham’s upper-midscale-and-above hotels around the world—from Germany and Switzerland to New York and Florida—boast three common attributes: character, charm, and individuality. Launched in 2017, Trademark is the first soft-brand geared to three- and four-star hotel owners passionate about upholding their hotels’ independent spirit and designed for everyday travelers seeking distinctive, attainable accommodations in sought-after destinations. For more information, visit www.wyndhamhotels.com/trademark.
ABOUT WYNDHAM HOTELS & RESORTS
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with more than 9,000 hotels across more than 80 countries on six continents. Through its network of over 798,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers over 59 million enrolled members the opportunity to redeem points at thousands of hotels, condominiums and holiday homes globally. For more information, visit www.wyndhamhotels.com.
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