Multi-year deal brings world's largest hotel franchisor and number one hotel rewards program into 120 ballparks, driving new hotel stays while unlocking one-of-a-kind member experiences
PARSIPPANY, N.J., (March 29, 2023) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels spanning more than 95 countries, today announced a new multi-season partnership with Minor League Baseball. The deal makes Wyndham the Official Hotel Partner of Minor League Baseball (MiLB) with its award-winning loyalty program, Wyndham Rewards, becoming MiLB’s Official Hotel Loyalty Partner.
Wyndham chose Minor League Baseball as the program’s newest partner based on MiLB’s growing popularity, accessibility, and strong synergies between its guests, particularly its rewards members, and MiLB’s fan base. For the past five years, Wyndham Rewards has been named the number one hotel rewards program by readers of USA TODAY. Known for championing everyday travelers through its unmatched simplicity and generous rewards, the program offers members unparalleled access to a growing redemption portfolio of more than 50,000 hotels, vacation club resorts and vacation rentals round the world.
“Minor League Baseball has been grooming and celebrating the sport’s next-generation of stars for decades, all while entertaining fans and helping families make memories that last a lifetime,” said Dana Rosenberg, senior vice president of Marketing at Wyndham Hotels & Resorts. “Our partnership brings guests and members closer to something we already know they love, and in doing so, makes it easier than ever for them to unlock new value and experiences with Wyndham and Wyndham Rewards.”
Through Wyndham’s new relationship with Minor League Baseball, Wyndham Rewards members will soon be able to redeem points for unprecedented access to all that MiLB has to offer, including: tickets to Minor League games, one-of-a-kind experiences such as throwing a first pitch, behind-the-scenes ballpark tours, batting practice field access and more. Benefits are slated to go live later this summer.
“Baseball fans love traveling to see the many ballparks around the country and watching their favorite teams play,” said Uzma Rawn, senior vice president, Global Partnerships, Major League Baseball. “When you consider our Minor League Baseball stadiums around the country, on average nearly 20 by Wyndham branded hotels are within a 25-mile radius. It’s a partnership that truly fits like a glove.”
Wyndham’s partnership with Minor League Baseball also includes a series of additional touchpoints designed to raise visibility of the program among fans while simplifying travel to and from their favorite Minor League games. These include a heavy presence at over 8,000 scheduled Minor League games in the form of branded stadium features, sponsorship of Minor League Baseball’s Official Ballpark Guides, a robust social and digital media presence, and Wyndham booking links on MiLB.com as well as all 120 Minor League Baseball Club sites. The deal also carries additional benefits for Wyndham franchisees. Notably, official MiLB League travel will now include stays at Wyndham hotels. What’s more, franchisees will have access to all team logos, allowing for cross marketing opportunities between hotels and their local Minor League team.
Added Rosenberg, “This is an incredibly rich and detailed partnership, one that brings immense value not just for Wyndham Rewards, but Wyndham’s thousands of hotel franchisees who are the heart of everything we do.”
Named the number one hotel loyalty program by readers of USA TODAY, Wyndham Rewards is the only hotel loyalty program offering members a guaranteed 1,000 points with every qualified stay. Free nights start at just 7,500 points per night, while discounted nights start at 1,500 points plus some cash. The program’s member levels (status), which are among the most attainable in travel, allow members to unlock benefits like a preferred room, late checkout, accelerated earning, suite upgrades and more.
About Minor League Baseball Minor League Baseball consists of 120 teams across four classification levels (Single-A, High-A, Double-A, and Triple-A) that are affiliated with Major League Baseball’s 30 teams. Fans flock to MiLB games to see baseball’s future stars and experience the affordable family-friendly entertainment that has been a staple of MiLB since 1901. For more information, visit MiLB.com. Follow MiLB on Facebook, Instagram, and Twitter.
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,100 hotels across over 95 countries on six continents. Through its network of approximately 843,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 24 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers nearly 100 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visitwww.wyndhamhotels.com.
Industry-leading program sets the bar for driving diversity while expanding women hotel ownership
PARSIPPANY, N.J., (March 22, 2023) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels spanning more than 95 countries, today announced the continued momentum of its groundbreaking “Women Own the Room” program, which in its inaugural year, has signed more than 30 hotels across the U.S. and Canada, 10 of which are now open.
The first-ever program by a major hotel company specifically targeting women’s advancement in hotel ownership, Women Own the Room is designed to advance and empower women entrepreneurs to break through the predominantly male-dominated hotel industry and is a natural extension of Wyndham’s strong dedication to diversity, equity, and inclusion.
“Representation matters. Opening doors for traditionally underrepresented owners unlocks potential and possibility, and paves the way for others to follow,” said Lisa Checchio, chief marketing officer, Wyndham Hotels & Resorts. “Women play a critical role in the hotel industry, and Women Own the Room is breaking down barriers to actively change the face of hotel ownership.”
Data from the Castell Project, shared in 2022, shows that while the hospitality industry is diverse, it lags when it comes to diversity in senior positions and ownership with women holding less than 10 percent of hotel development and leadership roles. Women Own the Room delivers comprehensive financial solutions for new construction and conversion projects with enhanced capital support and reduced initial franchise fees. The program also offers members personalized operational support and establishes an inclusive community for networking and continuing education for women in hospitality.
A New Generation of Owners Nearly 50 percent of the hotels affiliated with Women Own the Room are new construction projects. Among them is the upcoming Microtel by Wyndham in New Castle, CO. Nestled in a picturesque area between the bustling ski towns of Vail and Aspen, the hotel is owned by Wyndham franchisee Elizabeth Avery and is on track to break ground later this year.
Growing up as a child of Polish immigrants, Avery witnessed her parents pursue their dream of hospitality when they opened their first hotel in New Castle. The experience created childhood aspirations that one day she could do the same. Following a successful career in the gas and oil industry, she’s now getting that chance. Avery was drawn to Wyndham due to its long-standing reputation and expertise in the space and has since been able to leverage the Company’s scale and resources to navigate the hurdles that come with new construction.
“I know the hospitality industry because I grew up in it, but this is my first time spearheading the construction of a new hotel. New construction is not straightforward, and costs, timelines and securing financing are not black and white,” said Avery. “I know Wyndham is dedicated to my success because of the resources they continue to provide, along with the one-on-one, collaborative approach they take as I work through my custom build. Wyndham has helped make what is a complicated process more seamless – and that support goes a long way.”
Avery added this opportunity is a natural step for her, and she doesn’t see her journey in hospitality ending here. With Wyndham’s unique Women Own the Room program, she sees the value in elevating the skillsets women bring to the table and looks forward to being part of a robust community of entrepreneurs.
Breaking Barriers, Opening Doors Since launching in January 2022, Women Own the Room has led to the opening of 10 hotels across the U.S., including new locations for brands like Days Inn by Wyndham, Baymont by Wyndham and AmericInn by Wyndham. Among them is the Travelodge by Wyndham in Macon, Ga., owned by Women Own the Room member Preeti Singh.
Singh came to the U.S. in 2007 on a student visa, and while earning her Master of Business Administration degree from the University of Findlay, she volunteered and learned from a local family in their Travelodge by Wyndham hotel in Freemont, Ohio. It was there that she fell in love with the hotel industry, and following her graduation, she began to pursue her dream of ownership. Singh worked every job she could to get experience in hotels, and was hired as a General Manager at a Microtel by Wyndham in Tifton, Ga in 2009. She worked tirelessly over the next six years to bring success to the hotel and doubled the hotel’s revenue while in her role.
In 2016, Singh bought her first hotel, and based on her history with Wyndham, and in response to the launch of Women Own the Room, she converted it to a Travelodge by Wyndham in 2022 – coming full circle from where she started her journey. The 45-room hotel underwent a full renovation prior to opening and features hardwood floors throughout, updated bathrooms and new bedding, among other improvements. The hotel also boasts a contemporary design and Singh prides herself on the hotel’s welcoming feel and positive energy.
“I was a young immigrant when I started my journey, and Wyndham has been a reliable and consistent partner for me from the beginning with a commitment to elevating me and other women like me,” Singh said. “I hope that by sharing my story, and sharing my experience with Women Own the Room, I can inspire other women to join the industry and follow their dreams of entrepreneurship.”
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,100 hotels across over 95 countries on six continents. Through its network of approximately 843,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 24 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers more than 100 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visitwww.wyndhamhotels.com.
Tool will give group and event planners, as well as those managing infrastructure, logistics and corporate accounts, access to real-time rates, availability, and instant online bookings—a first for the economy segment
PARSIPPANY, N.J., (March 16, 2023) – Wyndham Hotels & Resorts, the world’s largest hotel franchisor with approximately 9,100 hotels spanning more than 95 countries, today announced a new agreement with Groups360 to bring instant online multi-room bookings to Wyndham hotels in 2023.
Powered by GroupSync™, the hospitality industry’s leading direct booking solution, Wyndham hotels will have the opportunity to seamlessly integrate the platform with their hotel reservation systems, providing travel planners—from groups and events to those managing infrastructure, logistics and corporate accounts—the ability to view best available rates and availability as well instantly book rooms online.
“Over the last three years, Wyndham has invested over $100 million in major technology initiatives, giving our franchisees access to best-in-class offerings that unlock new efficiencies while helping to grow their bottom line,” said Lisa Checchio, chief marketing officer, Wyndham Hotels & Resorts. “Bringing franchisees access to GroupSync is just the latest example and one we believe offers incredible opportunity for franchisees, particularly those in the economy segment, where such technology is an industry first.”
Hotel companies that publish live inventory and rates within the GroupSync Marketplace save travel planners valuable time by allowing them to search, shop and book blocks of rooms. Whether it’s short one-to-two-night group events like youth sports, weddings and family reunions or multi-week infrastructure or logistics project like commercial construction, bridge repair or highway expansion, GroupSync empowers planners to quickly and easily book their preferred hotel instantly online or through a Smart RFP.
“Wyndham is a major player in the hospitality industry with offerings that span every segment of the industry,” said Tim Flors, chief customer officer, Groups360. “Travel planners increasingly expect their hotel purchase experience to be seamless, instantaneous, and online. Wyndham’s deployment on GroupSync Marketplace does just that, all while saving hotels time and helping them better serve their guests.”
Planners can already book guest rooms and meeting spaces using Wyndham’s global properties via GroupSync’s Smart RFP and group guest rooms are expected to start being available in GroupSync for instant, online booking later this year. All are a part of Wyndham’s innovative Wyndham Business program, which through a suite of tools and resources, aims to simplify business travel bookings. To learn more about Groups360 and GroupSync Marketplace, visit www.groups360.com. To learn more about Wyndham Business, visit www.wyndhambusiness.com.
About Groups360 Groups360 was created with a singular goal — to empower meeting planners by bringing innovation, transparency and simplicity to the decades-old problem of booking groups. The company’s integrated technology solution, GroupSync™, enables suppliers to distribute inventory, engage with planners, and optimize group revenue. GroupSync also equips planners to search and shop hotels worldwide and to book rooms and space directly, online or through a simplified RFP process. GroupSync is the first distribution channel to offer online booking for both group hotel rooms and meeting space at scale.
Groups360 has offices in Nashville, London and Singapore. Learn more at groups360.com.
About Wyndham Business Wyndham Business is a suite of tools designed to help all types of business travel planners, saving them time and money by simplifying the booking process and providing support along the way. With special discounted rates, exclusive perks, and best-in-class business tools, Wyndham makes it easier to source the right hotels and help maximize efficiency. From transient travel and long-term stay projects to conferences and more, anytime you need to book five or more rooms, Wyndham Business has you covered. It’s the Total Wyndham Value.® For more information, visit www.wyndhambusiness.com.
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,100 hotels across over 95 countries on six continents. Through its network of approximately 843,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 24 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers more than 100 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visitwww.wyndhamhotels.com.
World’s largest hotel franchisor is sole major hotel company to be honored in 2023
PARSIPPANY, N.J., (March 13, 2023) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels in 95+ countries, today announced it has been named one of the World’s Most Ethical Companies for 2023 by Ethisphere, which honors companies demonstrating business integrity through best-in-class ethics, compliance, and governance practices. Wyndham stands alone as the only major hotel company to be honored for 2023, marking the third time Wyndham has been recognized for this distinguished accolade.
“Our goal at Wyndham is to make hotel travel possible for all, and it’s important that the global community we foster for our team members, franchisees, guests and partners has its foundation in ethics and values,” said Paul Cash, general counsel and chief compliance officer, Wyndham Hotels & Resorts. “Our values of Integrity, Accountability, Inclusivity, Caring and Fun drive all business decisions we make and allow us to make an impact on the communities where we exist.”
Wyndham operates under the philosophy that you can do well by doing good, which is why incorporating strong, ethical practices into everyday business activities are top priority. From robust anti-corruption and compliance training programs to an integrity hotline for anonymous reporting and an overarching code of conduct to guide team members on our values and principles, Wyndham provides team members a variety of resources to encourage the highest level of ethical behavior. The Company also supports industry organizations such as the American Hotel & Lodging Association and provides mandatory training programs to educate team members and franchisees on human trafficking prevention. Most recently, Wyndham pledged $500,000 to the No Room for Trafficking Survivor Fund to help support survivors’ immediate and long-term stability.
Grounded in Ethisphere’s proprietary Ethics Quotient®, the World’s Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity, and initiatives that support a strong value chain. The process serves as an operating framework to capture and codify the leading practices of organizations across industries and around the globe. Ethisphere’s 2023 Ethics Index, the collection of publicly traded companies recognized as recipients of this year’s World’s Most Ethical Companies designation, outperformed a comparable index of large-cap companies by 13.6 percentage points over a five-year period.
“Ethics matters. Organizations that commit to business integrity through robust programs and practices not only elevate standards and expectations for all, but also have better long-term performance,” said Ethisphere CEO, Erica Salmon Byrne. “We continue to be inspired by the World’s Most Ethical Companies honorees and their dedication to making real impact for their stakeholders and displaying exemplary values-based leadership. Congratulations to Wyndham Hotels & Resorts for earning a place in the World’s Most Ethical Companies community.”
To view the full list of this year’s honorees, please visit the World’s Most Ethical Companies website, at https://worldsmostethicalcompanies.com/honorees. For more on Wyndham’s growing resume of workplace awards, and to learn more about its commitment to social responsibility, please visit www.corporate.wyndhamhotels.com.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,100 hotels across over 95 countries on six continents. Through its network of approximately 843,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 24 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers nearly 100 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.
About Ethisphere Ethisphere 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. Ethisphere honors superior achievement through its World’s Most Ethical Companies® recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA), and showcases trends and best practices in ethics with Ethisphere Magazine. Ethisphere also helps to advance business performance through data-driven assessments, guidance, and benchmarking against its unparalleled data: the Culture Quotient dataset focused on ethical culture and featuring the responses of 2+ million employees around the world; and the Ethics Quotient dataset, featuring 200+ data points highlighting the ethics, compliance, social, and governance practices of the World’s Most Ethical Companies. For more information, visit https://ethisphere.com.
Groundbreaking program works to welcome and empower Black entrepreneurs in hospitality
PARSIPPANY, N.J., (February 22, 2023) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels in over 95 countries, today announced the rapid expansion of its groundbreaking BOLDSM by Wyndham program. In just over six months, the program has signed deals for 18 hotels across the U.S., including 10 under its newly launched ECHO SuitesSM Extended Stay by Wyndham brand.
Based on data provided by the National Association of Black Hotel Owners, Operators and Developers (NABHOOD), Black employment in the hotel industry represents nearly 20 percent of all team members in the industry, though less than two percent of hotel owners are Black. BOLD by Wyndham, which stands for Black Owners and Lodging Developers, was established to engage and advance Black hoteliers by addressing the unique challenges faced by Black entrepreneurs through the scale, relationships and resources of Wyndham. The program is built around two key pillars: promoting hotel ownership as a vehicle for potential wealth creation and accelerating the path to hotel ownership.
“There’s an immense gap when it comes to the representation of Black hotel owners, which is why it’s crucial that players like Wyndham find and champion new opportunities to drive diversity,” said Galen Barrett, vice president, Strategic Development, Wyndham Hotels & Resorts. “With agreements for nearly 20 hotels in our pipeline, BOLD by Wyndham is proving there is opportunity in our industry for Black entrepreneurs and that our industry will be all the better for it.”
Twin Brothers Enter Extended-Stay with BOLD by Wyndham Among the hotels currently in the BOLD by Wyndham pipeline, 10 are affiliated with Wyndham’s newly launched ECHO Suites Extended Stay by Wyndham brand, which was specifically created to help hotel developers tap into the rapidly growing extended stay segment. Twin brothers Dubi and Chuchu Ajukwu, Co-Managing Partners of VANA Partners and graduates of Dartmouth College and Harvard Law School and Harvard Business School, respectively, are the developers behind the deal. While the brothers had a brief stint as hotel waiters in their younger years supporting their parents’ small independent hotel in Nigeria, it was never their intent to invest in hospitality. The entry point into the growing extended-stay sector with ECHO Suites and the opportunities presented by BOLD changed that.
“Chuchu and I are well-versed in the worlds of residential and commercial real estate and for years, our vision was to build a company leveraging our institutional experience in those sectors,” said Dubi Ajukwu. “That vision still holds true but has since evolved to have extended stay and hospitality at its center. Participating in BOLD by Wyndham has not only enabled us to break into competitive markets with immense growth potential but also allowed us to leverage the scale and resources of the world’s largest hotel franchising company.”
Pivotal to the Ajukwu brothers’ selection of Wyndham was the Company’s commitment and flexibility in working with them to identify and develop hotels in the markets that matter most to them. Working toward a long-term goal of an established footprint throughout Florida and beyond, the brothers anticipate breaking ground on their first hotel in Daytona Beach later this year.
To learn more about BOLD by Wyndham, including details around upcoming events, visit www.boldbywyndham.com. For additional details on franchising opportunities with Wyndham Hotels & Resorts, visit www.wyndhamdevelopment.com. To learn more about VANA Partners, visit www.vanapartners.com.
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,100 hotels across over 95 countries on six continents. Through its network of approximately 843,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 24 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 99 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.
World’s largest hotel franchising company once again recognized for its award-winning corporate culture and continued commitment to creating inclusive and welcoming workspaces
Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels in over 95 countries, today announced two new honors from Forbes and Newsweek, both of which recently recognized the Company as a top place to work.
For the second consecutive year, Forbes ranked Wyndham as one of America’s Best Large Employers, highlighting team members’ willingness to recommend the Company to both family and friends. Newsweek named Wyndham to its list of America’s Greatest Workplaces for Diversity, showcasing Wyndham’s continued commitment to supporting Diversity, Equity and Inclusion (DEI), career development, corporate culture and more. Both accolades build on the Company’s growing resume of workplace awards.
“Our Count on Me service culture inspires the great experiences we create for team members and the people we serve,” said Monica Melancon, chief human resource officer, Wyndham Hotels & Resorts. “Respecting our differences and giving our team members opportunities to succeed beyond their day-to-day roles and responsibilities reflect our core values of integrity, accountability, inclusivity, caring and fun, and fosters a workplace where people are able to reach their full potential.”
Wyndham’s commitment to its people, including their development and growth is significant. The Company provides educational programs, volunteer initiatives and a range of affinity business groups to foster an inclusive workplace. Wyndham also provides comprehensive benefits supporting team members’ health, career, lifestyle and financial wellness, alongside exclusive travel perks and a fulfilling work-life balance. Wyndham prioritizes DEI training for all team members with a broad range of topics including antiracism and allyship, and recently became the first hospitality organization to partner with the United Negro College Fund (UNCF) to provide networking opportunities and resources to support potential candidates across nearly 40 HBCUs.
In addition to the resources provided to team members, the Company sponsors several initiatives to promote inclusivity and representation across its partners, franchisees and owners. Wyndham’s supplier diversity program engages suppliers owned by traditionally underrepresented groups to integrate them as partners within everyday business, and Wyndham’s first-of-its-kind Women Own the Room program and BOLD by Wyndham advance and empower women and Black entrepreneurs, developers and owners on their path to hotel ownership. From team members, franchisees, partners, suppliers, and guests – Wyndham believes that a diversity of backgrounds, cultures and experiences helps drive the success of not only the Company, but the hospitality industry.
To learn more about Wyndham Hotels & Resorts, as well as view open roles within the company, visit www.corporate.wyndhamhotels.com.
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,100 hotels across over 95 countries on six continents. Through its network of approximately 843,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 24 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 99 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.
About Forbes’ List of America’s Best Large Employers In selecting America’s Best Large Employers, Forbes, in partnership with Statista, conducted an independent survey taken by about 45,000 American employees working for companies with more than 1,000 workers in the United States. In total, 500 employers were recognized across 25 different industry sectors. The evaluation was based on direct and indirect recommendations from respondents who were asked to rate their willingness to recommend their own employer to friends and family. For the full list, visit https://www.forbes.com/lists/best-large-employers/?sh=55db965c7b66.
About Newsweek’s Greatest Workplaces for Diversity In selecting the Greatest Workplaces for Diversity, Newsweek based scoring on a review of publicly available data, interviews with HR professionals and an anonymous online survey of a diverse pool of employees at companies with 1,000 or more employees in the U.S. Respondents were asked questions about corporate culture, working environment and other subjects at both their own companies and others they were familiar with. The survey yielded more than 350,000 company reviews. For the full list, visit https://www.newsweek.com/rankings/americas-greatest-workplaces-2023-diversity.
Company Exceeds Top End of Full-Year Outlook
Grows Development Pipeline by 12%
Increases Quarterly Dividend by 9% and Provides Full-Year 2023 Outlook
PARSIPPANY, N.J., February 15, 2023 – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months and year ended December 31, 2022. Highlights include:
Global RevPAR grew 15% compared to fourth quarter 2021 in constant currency, a 300 basis point improvement sequentially, representing 116% of 2019 levels; full-year global RevPAR grew 20% year-over-year in constant currency.
S. RevPAR grew 5% compared to fourth quarter 2021, a 300 basis point improvement sequentially, representing 115% of 2019 levels; full-year U.S. RevPAR grew 12%.
System-wide rooms grew 4% year-over-year, including 1% in the U.S. and 9%
Development pipeline grew 12% year-over-year, including 170 new construction projects added for the Company’s ECHO Suites Extended Stay by Wyndham brand since launch in March.
Hotel Franchising segment revenues grew 12% compared to fourth quarter 2021 and 16% for the full-year.
Diluted earnings per share of $0.63 and net income of $56 million for the quarter; full-year diluted earnings per share of $3.91 and net income of $355
Adjusted diluted earnings per share of $0.72 and adjusted net income of $64 million for the quarter; full-year adjusted diluted earnings per share of $3.96 and adjusted net income of $360
Adjusted EBITDA of $126 million for the quarter and $650 million for the full-year, which exceeded our full-year outlook of $636 million to $644 million.
Net cash provided by operating activities of $399 million and free cash flow of $360 million for the full-year.
Returned $561 million to shareholders for the full-year through $445 million of share repurchases and quarterly cash dividends of $0.32 per share.
Board of Directors recently authorized a 9% increase in the quarterly cash dividend to $0.35 per share beginning with the dividend expected to be declared in first quarter 2023.
“We are incredibly proud of our team’s ability to close out 2022 with RevPAR and adjusted EBITDA results that exceeded our outlook. Our development pipeline increased sequentially for the 10th consecutive quarter reflecting robust developer interest in our brands for both conversion and new construction opportunities despite the broader macro-economic climate,” said Geoffrey A. Ballotti, president and chief executive officer. “Given the continued occupancy recovery across the globe and infrastructure business growth in 2023, we are enthusiastic about the opportunities that lie ahead and our ability to deliver outstanding value to our shareholders, guests, franchisees and team members.”
Fourth Quarter 2022 Operating Results
Fee-related and other revenues was $310 million compared to $314 million in fourth quarter 2021, which included $38 million from the Company’s select-service management business and owned hotels – both of which were exited in the first half of 2022. On a comparable basis, fee-related and other revenues increased 12% year-over-year primarily reflecting global RevPAR growth and higher license fees.
The Company generated net income of $56 million, or $0.63 per diluted share, compared to $48 million, or $0.52 per diluted share, in fourth quarter 2021. The increase in net income was primarily due to higher adjusted EBITDA in the Company’s hotel franchising segment, partially offset by the impact from the exit of the Company’s select-service management business and owned hotels. Adjusted EBITDA was $126 million compared to $131 million in fourth quarter 2021, which included a $12 million contribution from the Company’s select-service management business and owned hotels – both of which were exited in the first half of 2022. On a comparable basis, adjusted EBITDA increased 6% year-over-year reflecting higher fee-related and other revenues, partially offset by an unfavorable timing impact from the marketing fund and the inflationary impact on expenses, both of which were anticipated.
Full reconciliations of GAAP results to the Company’s non-GAAP adjusted measures for all reported periods appear in the tables to this press release.
System Size
The Company’s global system grew 4%, reflecting 1% growth in the U.S. and 9% growth internationally. As expected, these increases included strong growth in both the higher RevPAR midscale and above segments in the U.S. and the direct franchising business in China, which grew 4% and 10%, respectively, as well as 80 basis points of growth globally and 200 basis points internationally from the acquisition of the Vienna House brand in September 2022. The Company also achieved its goal of a retention rate above 95% for the full-year 2022.
RevPAR
Fourth quarter global RevPAR grew by 15% in constant currency compared to 2021 reflecting 5% growth in the U.S. and 46% internationally. Global RevPAR was 116% of 2019 levels in constant currency, with the U.S. at 115% and international at 123%. The increases compared to both 2021 and 2019 were driven primarily by stronger pricing power.
Fourth Quarter 2022 Business Segment Discussion
Hotel Franchising revenues increased 12% year-over-year to $303 million primarily due to the global RevPAR increase and higher license fees. Hotel Franchising adjusted EBITDA of $138 million increased 8% reflecting the growth in revenues, partially offset by the expected unfavorable timing impact from the marketing fund, excluding which Hotel Franchising adjusted EBITDA would have increased 13%.
Hotel Management revenues decreased 75% year-over-year to $31 million, including a $54 million decrease in cost-reimbursement revenues, which have no impact on adjusted EBITDA. Absent cost-reimbursements, Hotel Management revenues decreased $37 million, or 84%, and adjusted EBITDA decreased $15 million, or 79%, reflecting the exit of the Company’s select-service management business and owned hotels.
Full-Year 2022 Operating Results
Fee-related and other revenues was $1,354 million compared to $1,245 million in full-year 2021. The Company’s select-service management business and owned hotels – both of which were exited in the first half of 2022 – contributed $50 million and $125 million during 2022 and 2021, respectively. On a comparable basis, fee-related and other revenues increased 16% year-over-year primarily reflecting global RevPAR growth and higher license fees.
The Company generated net income of $355 million, or $3.91 per diluted share, compared to $244 million, or $2.60 per diluted share, in full-year 2021. The increase in net income was primarily due to higher adjusted EBITDA in the Company’s hotel franchising segment and lower net interest expense, partially offset by the impact from the exit of the Company’s select-service management business and owned hotels. Adjusted EBITDA was $650 million compared to $590 million in full-year 2021. The Company’s select-service management business and owned hotels – both of which were exited in the first half of 2022 – contributed $18 million and $37 million during 2022 and 2021, respectively. On a comparable basis, adjusted EBITDA increased 14% year-over-year reflecting higher fee-related and other revenues, partially offset by the inflationary impact on expenses.
During full-year 2020, the Company’s marketing fund expenses exceeded revenues by $49 million in order to support its owners during COVID. During the full-year 2022, the Company’s marketing fund revenues exceeded expenses by $20 million; while in full-year 2021, the Company’s marketing fund revenues exceeded expenses by $18 million. As such, the Company has now recovered $38 million of the $49 million of support provided during 2020.
Development
The Company awarded 882 new contracts this year, a 35% increase compared to the 655 contracts awarded during 2021.
On December 31, 2022, the Company’s global development pipeline consisted of over 1,700 hotels and approximately 219,000 rooms, of which approximately 73% is in the midscale and above segments (56% in the U.S.). The pipeline grew 12% year-over-year, including 34% growth in the U.S. Approximately 60% of the Company’s development pipeline is international and over 80% is new construction, of which approximately 36% has broken ground. The pipeline includes 170 new contracts awarded for the Company’s ECHO Suites Extended Stay by Wyndham brand since its launch in March 2022. In line with development expectations, the first three ECHO Suites hotels broke ground in 2022 and are anticipated to open in the second half of 2023.
Cash and Liquidity
The Company generated $399 million of net cash provided by operating activities and free cash flow of $360 million in the full-year 2022. The Company ended the quarter with a cash balance of $161 million and approximately $900 million in total liquidity. The Company’s net debt leverage ratio was 2.9 times at December 31, 2022, just below the Company’s 3 to 4 times stated target range.
Share Repurchases and Dividends
During the fourth quarter of 2022, the Company repurchased approximately 1.9 million shares of its common stock for $133 million. For the full-year 2022, the Company repurchased approximately 6.2 million shares of its common stock for $445 million. Since the Company’s spin-off in June 2018, it has repurchased 15% of its outstanding common stock.
The Company paid common stock dividends of $28 million, or $0.32 per share, in the fourth quarter of 2022 for a total of $116 million, or $1.28 per share, for the full-year 2022.
For the full-year 2022, the Company returned $561 million to shareholders through share repurchases and quarterly cash dividends.
The Company’s Board of Directors authorized a 9% increase in the quarterly cash dividend to $0.35 per share, beginning with the dividend expected to be declared in first quarter 2023.
Full-Year 2023 Outlook
The Company provided the following outlook for full-year 2023:
(a) Outlook represents global RevPAR growth of 6% to 8% compared to 2019.
(b) Represents the percentage of adjusted EBITDA that is expected to produce free cash flow.
Year-over-year growth rates are not comparable due to the exit of the Company’s select-service management business, the sale of its two owned hotels during 2022 and the variability in its marketing funds due to the support that the Company provided to its owners during 2020.
More detailed projections are available in Table 8 of this press release. The Company is providing certain financial metrics only on a non-GAAP basis because, without unreasonable efforts, it is unable to predict with reasonable certainty the occurrence or amount of all of the adjustments or other potential adjustments that may arise in the future during the forward-looking period, which can be dependent on future events that may not be reliably predicted. Based on past reported results, where one or more of these items have been applicable, such excluded items could be material, individually or in the aggregate, to the reported results.
Conference Call Information
Wyndham Hotels will hold a conference call with investors to discuss the Company’s results and outlook on Thursday, February 16, 2023 at 8:00 a.m. ET. Listeners can access the webcast live through the Company’s website at https://investor.wyndhamhotels.com. The conference call may also be accessed by dialing 800 245-3047 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 beginning at noon ET on February 16, 2023. A telephone replay will be available for approximately ten days beginning at noon ET on February 16, 2023 at 800 839-9815.
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. The Company uses these measures internally to assess its operating performance, both absolutely and in comparison to other companies, and to make day to day operating decisions, including in the evaluation of selected compensation decisions. 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 by the number of properties, with approximately 9,100 hotels across over 95 countries on six continents. Through its network of approximately 843,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 24 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 99 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. The Company may use its website as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Disclosures of this nature will be included on the Company’s website in the Investors section, which can currently be accessed at www.investor.wyndhamhotels.com. Accordingly, investors should monitor this section of the Company’s website in addition to following the Company’s press releases, filings submitted with the Securities and Exchange Commission and any public conference calls or webcasts.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements related to the Company’s current views and expectations with respect to its future performance and operations, including revenues, earnings, cash flow and other financial and operating measures, share repurchases and dividends and restructuring charges. Forward-looking statements include those that convey management’s expectations as to the future based on plans, estimates and projections at the time the Company makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “intend,” “goal,” “future,” “outlook,” “guidance,” “target,” “objective,” “estimate,” “projection” 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 the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. 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, including inflation, higher interest rates and potential recessionary pressures; the worsening of the effects from the coronavirus pandemic (“COVID-19”); COVID-19’s scope, duration, resurgence and impact on the Company’s business operations, financial results, cash flows and liquidity, as well as the impact on the Company’s franchisees, guests and team members, the hospitality industry and overall demand for and restrictions on travel the Company’s continued performance during the recovery from COVID-19 and any resurgence or mutations of the virus concerns with or threats of other pandemics, contagious diseases or health epidemics, including the effects of COVID-19; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising businesses; the Company’s relationships with franchisees; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflict between Russia and Ukraine; the Company’s ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to the Company’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and the Company’s ability to make or pay, plans for and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in the Company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise.
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World's largest hotel franchising company well-positioned for future growth following a year in which it added new brands, entered new markets and attracted new, diverse hotel owners
PARSIPPANY, N.J., (January 23, 2022) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels across more than 95 countries, is setting its sights on continued expansion in 2023, following a banner year that saw the Company cap multiple milestones and accomplishments across the globe.
“Last year was an incredible year for the travel industry and for Wyndham,” said Geoff Ballotti, president and CEO, Wyndham Hotels & Resorts. “Amid the backdrop of the industry’s continued recovery, hoteliers across the world turned to Wyndham and our brands to help them elevate their portfolios and drive their businesses forward. Now, with consumer travel demand holding steadfast, anticipated tailwinds from continued infrastructure spend, and our iconic, trusted brands resonating with travelers like never before, Wyndham and its franchisees remain well positioned for success in 2023.”
In its latest forecast, U.S. Travel estimated domestic travel spend to increase more than 8% in 2023, adjusted for inflation, while London-based Economist Intelligence expects global tourism to rise 30%. Wyndham is also anticipating significant tailwinds from the recent $1.2 trillion infrastructure bill, the largest signed into U.S. law in the last 70 years. Wyndham’s business travelers primarily come from infrastructure accounts, which generated double-digit revenue growth compared to 2019 and are anticipated to climb further as these workers begin new projects to repair America’s highways, bridges and ports.
New Brands, New Markets, New Hotels Known for its diverse 24-brand portfolio spanning every segment of the industry, Wyndham saw continued expansion of its global footprint in 2022, adding new brands, entering new markets and attracting new, diverse hotel owners. Among the highlights, the Company:
Tapped into the white-hot extended stay market in the U.S. with the launch of ECHO Suites Extended StaySM by Wyndham, exceeding early development expectations by rapidly growing its pipeline to 170 hotels and more than 21,000 rooms in only 9 months.
Significantly grew its presence in the all-inclusive space, adding 14 new resorts to its luxury Registry Collection Hotels® brand. Wyndham now has nearly 30 all-inclusive resorts across Latin America.
Nearly doubled the size of its upscale footprint in Europe, the Middle East, Eurasia and Africa with the acquisition of the Vienna House® brand from Berlin-based HR Group, a longstanding Wyndham franchisee, adding over 40 new hotels and more than 6,400 rooms.
Bolstered its commitment to diverse hotel ownership, becoming the first major hotel company to launch a program focused on the advancement of women hotel owners (Women Own the Room) and introduce a program for Black entrepreneurs (BOLD by Wyndham).
“Developers choose Wyndham for the power of our brands and because they know we’re going to be collaborative partners at every step of the journey. That starts with our team taking the time to understand their unique needs and then working with them to help ensure they’re putting the right brand in the right market at the right time,” said Chip Ohlsson, chief development officer, Wyndham Hotels & Resorts. “Hospitality is all about relationships and, for Wyndham, there are no relationships more important than the ones we have with our franchisees. From day one, we are committed to their success because we know—their success, is our success.”
Elevating the Guest Experience
Further advancing its mission of making hotel travel possible for all, Wyndham continued to champion the everyday traveler in 2022, launching an array of new initiatives designed to elevate the guest experience. Among the highlights, the Company:
Introduced Road Trip Planner (RTP), an innovative new tool allowing travelers to seamlessly plot, plan and directly book their ideal road trip via Wyndham’s award-winning, mobile app. The Wyndham mobile app currently has over 5.5 million downloads.
Expanded Wyndham Rewards® with new free night redemption options, adding to the program’s portfolio of more than 50,000 hotels, vacation club resorts and vacation rentals. USA TODAY recently ranked Wyndham Rewards number one for a 5th consecutive year, along with the Wyndham Rewards Earner Card, for a second consecutive year. Nearly one in every two guests are Wyndham Rewards members.
Became the first major hotel company to make available to all U.S. and Canadian franchisees an easy-to-use, virtually no-cost, mobile tipping platform, helping hotels attract and retain talent. Since launching just a few months ago, the platform is now live and available at hundreds of hotels across the U.S. and Canada.
Putting Owners First Paramount to its owner-first approach to franchising, Wyndham further leveraged its unmatched size and scale in 2022 to provide franchisees with robust levels service and support across Sales, Marketing, Operations, Design and Construction. Among the highlights, the Company:
Delivered record levels of contribution through Wyndham.com channels, with web traffic increasing over 9% YOY and longer booking windows compared to 2021.
Debuted a new, cloud-based, mobile-first revenue management platform, RevIQ, which when paired with one of the Company’s two next-gen, cloud-based property management systems (SynXis Property Hub and Oracle OPERA Cloud), gives franchisees access to best-in-class technology solutions designed to help drive rate, streamline operations and unlock efficiencies.
Launched a cost-effective mobile key solution, enabling franchisees to upgrade existing door locks instead of replacing them. Combined with existing offerings like mobile check-in and franchisee opt-in services like front desk call routing, these initiatives are designed to help franchisees improve operating margins while moving fixed labor costs out of their hotels.
Grew The Meetings Collection, a carefully curated collection of aspirational hotels and resorts in highly sought-after destinations, to more than 160 hotels and resorts globally.The Collection works in coordination with other Sales initiatives, like Wyndham Business, to help drive increased corporate and group bookings at Wyndham hotels around the world.
For more information about Wyndham Hotels & Resorts, including details on franchising opportunities, visit www.wyndhamdevelopment.com.
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,100 hotels across over 95 countries on six continents. Through its network of approximately 836,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 24 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards® loyalty program offers over 97 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.
Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements related to the Company’s current views and expectations related to rooms growth, development, consumer demand trends, technology offerings and programs. Forward-looking statements include those that convey management’s expectations as to the future based on plans, estimates and projections at the time the Company makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “intend,” “goal,” “future,” “outlook,” “guidance,” “target,” “objective,” “estimate,” “projection” 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 the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. 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, including inflation, higher interest rates and potential recessionary pressures; the continuation or worsening of the effects from the coronavirus pandemic (“COVID-19”); COVID-19’s scope, duration, resurgence and impact on the Company’s business operations, financial results, cash flows and liquidity, as well as the impact on the Company’s franchisees and property owners, guests and team members, the hospitality industry and overall demand for and restrictions on travel; the Company’s continued performance during the recovery from COVID-19 and any resurgence or mutations of the virus; concerns with or threats of other pandemics, contagious diseases or health epidemics, including the effects of COVID-19; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising businesses; the Company’s relationships with franchisees and property owners; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflict between Russia and Ukraine; risks related to restructuring or strategic initiatives; the Company’s ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to the Company’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and the Company’s ability to make or pay, plans for, and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in the Company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise.
Amid flight disruptions on one of the most hectic travel days of the year, Lowe’s and Wyndham team up to combat cancellation woes with festive experiences that surprise and delight
MOORESVILLE, N.C. (Nov. 10, 2022) – It’s the most wonderful – and disorderly – time of the year. As airline travel spikes this holiday season, so will inevitable flight delays and cancellations, leaving down-on-their-luck travelers looking for shelter in unfamiliar locales. To help these last-minute guests recapture being home for the holidays, Lowe’s, the expert in home, and Wyndham Hotels & Resorts are teaming up to offer an unforgettable experience in an unlikely place: airport hotels.
On Wednesday, Nov. 23 – considered to be one of the busiest travel days of the year – Lowe’s will elevate the home away from home experience, creating over-the-top cozy, comfortable, winter wonderlands in select Wyndham hotel rooms near some of the nation’s busiest airports. Filled with products all (surprisingly) available at Lowe’s, these rooms will channel the magic of the holiday season for stranded travelers.
“We know that there are few things more frustrating than being stuck in an unfamiliar city during the holidays, away from the creature comforts of home, family and friends,” said Jen Wilson, SVP Enterprise Brand and Marketing at Lowe’s. “While even our Holiday Home Layover experience cannot replace the feeling of being with loved ones during the holidays, it will surely bring some warmth. We’re thrilled to have the chance to provide select travelers with a memorable holiday experience – not just through our surprisingly beautiful holiday décor offerings, but also our traditional home improvement offerings, electronics and more.”
“Even when travel plans go awry, guests can count on the warm Wyndham welcome they get at our hotels,” said Lisa Checchio, CMO Wyndham Hotels & Resorts. “This year, we’re complementing our hospitality with a little Lowe’s holiday cheer to create an extra special sanctuary for visitors at select Wyndham Hotels & Resorts locations whose holiday travel season needs a little extra joy.”
Travelers who experience flight cancellations or overnight delays on Wednesday, Nov. 23 this year will have the chance to stay in one of 50 Holiday Home Layover rooms across five participating Wyndham airport hotels by visiting the Holiday Home Layover website.*
Across the United States, participating hotels include:
New York – Wyndham Garden La Guardia South**
Los Angeles – La Quinta by Wyndham LAX
Chicago – Wyndham Chicago O’Hare
Dallas – La Quinta by Wyndham DFW West Glades Park
Miami – Wyndham Garden Miami Int’l Airport
While only the first ten eligible travelers per participating Wyndham hotel will win a once-in-a-lifetime hotel stay, Lowe’s offers all consumers the opportunity to shop the rooms through the website, in-store festive experiences and an unmatched one-stop holiday shopping experience with everything they want and need for the holidays, at the very best value.
For gifting inspiration, customers can visit Lowe’s in-store and online Gift Zone throughout the season, which features thousands of ideas for holiday shopping – including electronics, smart home, innovative tools, and unexpected items like back massagers, electric bikes and pizza ovens – in one convenient location. Just in time for the holidays, Lowe’s has expanded its selection of artificial and pre-lit trees, inflatables, holiday lights and more across trending holiday themes like farmhouse and traditional holiday décor, helping consumers deck the halls this season however they choose to celebrate.
Seasonal limited time buys and special values will also return this year during Lowe’s Black Friday Month event. Major savings are available to customers now, with select deals offered exclusively the last two weeks of November in-store and at Lowes.com on a variety of appliances, smart home, power tools, holiday décor and more, including:
Up to $750 additional savings when you purchase select major appliances totaling $396 or more plus additional instant brand savings when you bundle select major appliances (valid now – Nov. 30).
Save on Select Appliance Special Values + Free Basic Install via Rebate with purchase of select items of $599+ each & basic installation (valid now – Nov. 30, excludes RI & CT).
Save $50 on CRAFTSMAN V20 2-Tool Combo Kit (is $99, was $149) (valid now – 2/1).
Holiday Living 100ct LED warm white lights and multicolor string lights for $7.98, was $9.98 (valid now – Nov. 16).
Save $30 on Project Source Tucker Stainless Steel single handle pull-down kitchen faucet with sprayer function (is $69, was $99) (valid now – Nov. 16).
Save $25 on Ring Video Doorbell Wired (is $39.99, was $64.99) (valid now – Nov. 30).
Lowe’s is also celebrating Pros again this season with Lowe’s PROvember, now through Dec. 8. Lowe’s PROvember helps Pros restock and recharge for the year ahead by offering extra savings on Pro-grade brands like DeWalt, Metabo HPT and FLEX so Pros can maximize their business purchases. See Lowes.com/PROvember for more details.
To shop the Lowe’s holiday décor, furniture, and more used to decorate the Home Layover rooms, please visit Lowe’s.com and LowesHomeLayover.com.
Promotion Details *No purchase necessary. The Lowe’s Home Layover Promotion consists of five (5) separate Giveaways, each one in connection with a participating Wyndham Hotel. Each Giveaway is open to legal residents of the 50 U.S./D.C. who are 21+, have no more than 4 people in their travel group, booked their airfare (“Flight”) on or before 11/10/22 for a Flight to take place on 11/23/22 from an airport within 7 miles of a Participating Wyndham Hotel, and their Flight was canceled or delayed overnight. Entry begins at 9:00 a.m. ET on 11/23/22 and ends when all prizes for that particular Giveaway have been awarded, or at 2:59 a.m. ET on 11/24/22, whichever occurs first. Subject to Official Rules available at LowesHomeLayover.com.
**On Nov.10, Wyndham Garden La Guardia South, a Wyndham Hotel & Resort property, will exclusively offer a sneak-peek into a Holiday Home Layover showroom.
About Lowe’s Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 19 million customer transactions a week in the United States and Canada. With fiscal year 2021 sales of over $96 billion, Lowe’s and its related businesses operate or service nearly 2,200 home improvement and hardware stores and employ over 300,000 associates. Based in Mooresville, N.C., Lowe’s supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts. For more information, visit Lowes.com.
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,100 hotels across over 95 countries on six continents. Through its network of approximately 836,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 24 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards® loyalty program offers over 97 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.
Company Raises Full-Year 2022 Outlook, Board Increases Share Repurchase Authorization by $400 Million, Company Grows System-Wide Rooms by 4% and Development Pipeline by 10%
PARSIPPANY, N.J., October 25, 2022 – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended September 30, 2022. Highlights include:
Global RevPAR grew 12% compared to third quarter 2021 in constant currency.
S. RevPAR grew 2% compared to third quarter 2021 and represents 110% of 2019 levels.
System-wide rooms grew 4% year-over-year, including 1% of growth in the U.S. and 9% of growth internationally.
Development pipeline grew 10% year-over-year to 212,000 rooms and U.S. development signings increased 82%, including 48 new construction projects for the Company’s new extended-stay brand, bringing the total number to 120 since launch in March.
Hotel Franchising segment revenues grew 9% year-over-year.
Diluted earnings per share of $13 and adjusted diluted earnings per share of $1.21; net income of $101 million and adjusted net income of $108 million.
Adjusted EBITDA of $191
Year-to-date net cash provided by operating activities of $349 million and free cash flow of $321
Returned $161 million to shareholders through $132 million of share repurchases and a quarterly cash dividend of $0.32 per share.
“With our brands delivering record U.S. RevPAR and our global development teams driving net unit growth towards the top end of our initial guidance, we are raising our full-year 2022 outlook. Despite the broader macro-economic climate, we are confident in the continued resiliency of our franchise model as we continue to invest in the business and generate substantial shareholder returns,” said Geoffrey A. Ballotti, president and chief executive officer. “This quarter, we grew our development pipeline by 10%, surpassed our full-year development goal for our new extended-stay brand and completed the acquisition of our 23rd brand – Vienna House. We remain committed to a disciplined capital allocation strategy that will deliver outstanding value to our shareholders, guests, franchisees and team members in any environment.”
Fee-related and other revenues was $375 million compared to $377 million in third quarter 2021, which included $34 million from the Company’s select-service management business and owned hotels – both of which were exited in the first half of this year. On a comparable basis, fee-related and other revenues increased 9% year-over-year reflecting global constant currency RevPAR growth of 12% and higher license fees.
The Company generated net income of $101 million, or $1.13 per diluted share, compared to $103 million, or $1.09 per diluted share, in third quarter 2021. The decline in net income was primarily due to the exit of the Company’s select-service management business and owned hotels, partially offset by higher adjusted EBITDA in the Company’s hotel franchising segment. Adjusted EBITDA was $191 million compared to $194 million in third quarter 2021, which included a $10 million contribution from the Company’s select-service management business and owned hotels – both of which were exited in the first half of this year. On a comparable basis, adjusted EBITDA increased 4% year-over-year reflecting higher fee-related and other revenues, partially offset by a 600 basis point unfavorable timing impact from the marketing fund.
Full reconciliations of GAAP results to the Company’s non-GAAP adjusted measures for all reported periods appear in the tables to this press release.
System Size
The Company’s global system grew 4%, reflecting 1% growth in the U.S. and 9% growth internationally. As expected, these increases included strong growth in both the higher RevPAR midscale and above segments in the U.S. and the direct franchising business in China, which grew 6% and 8%, respectively, as well as 80 basis points of growth globally and 200 basis points internationally from the acquisition of the Vienna House brand.
RevPAR
Third quarter global RevPAR grew by 12% in constant currency compared to 2021 as the U.S. grew 2% and international grew 46%. Global RevPAR was 111% of 2019 levels in constant currency, with the U.S. at 110% and international at 117%. The increases compared to both 2021 and 2019 were driven primarily by stronger pricing power.
Business Segment Discussion
Hotel Franchising revenues increased 9% year-over-year to $367 million primarily due to the global RevPAR increase and higher license fees. Hotel Franchising adjusted EBITDA of $201 million increased 4% reflecting the growth in revenues, partially offset by an unfavorable timing impact from the marketing fund, excluding which Hotel Franchising adjusted EBITDA would have increased 12%.
Hotel Management revenues decreased 68% year-over-year to $40 million, including a $54 million decrease in cost-reimbursement revenues, which have no impact on adjusted EBITDA. Absent cost-reimbursements, Hotel Management revenues decreased $32 million, or 80%, and adjusted EBITDA decreased $9 million reflecting the exit of the Company’s select-service management business and owned hotels.
During the third quarter 2022, the Company’s marketing fund revenues exceeded expenses by $12 million; while in third quarter 2021, the Company’s marketing fund revenues exceeded expenses by $19 million.
Development
The Company awarded 214 new contracts this quarter compared to 151 in the third quarter 2021. On September 30, 2022, the Company’s global development pipeline consisted of over 1,600 hotels and over 212,000 rooms, of which approximately 76% is in the midscale and above segments (61% in the U.S.). The pipeline grew 10% year-over-year – 24% in the U.S. and 2% internationally. Approximately 60% of the Company’s development pipeline is international and 80% is new construction, of which approximately 36% has broken ground. The pipeline includes 120 new contracts awarded for the Company’s new extended-stay brand since its launch in March 2022.
Acquisition of Vienna House
On September 8, 2022, the Company completed the acquisition of the Vienna House brand, adding an upscale and midscale portfolio of over 40 hotels and more than 6,400 rooms to the Company’s existing footprint in the EMEA region. The purchase price was $44 million.
Cash and Liquidity
The Company generated year-to-date net cash provided by operating activities of $349 million and free cash flow of $321 million. The Company ended the quarter with a cash balance of $286 million and approximately $1.0 billion in total liquidity.
Share Repurchases and Dividends
During the third quarter, the Company repurchased approximately 2.0 million shares of its common stock for $132 million. In October 2022, the Company’s Board of Directors increased the Company’s share repurchase authorization by $400 million.
The Company paid common stock dividends of $29 million, or $0.32 per share.
Full-Year 2022 Outlook
The Company is updating its outlook as follows:
More detailed projections are available in Table 8 of this press release. The Company is providing certain financial metrics only on a non-GAAP basis because, without unreasonable efforts, it is unable to predict with reasonable certainty the occurrence or amount of all of the adjustments or other potential adjustments that may arise in the future during the forward-looking period, which can be dependent on future events that may not be reliably predicted. Based on past reported results, where one or more of these items have been applicable, such excluded items could be material, individually or in the aggregate, to the reported results.
Conference Call Information
Wyndham Hotels will hold a conference call with investors to discuss the Company’s results and outlook on Wednesday, October 26, 2022 at 8:30 a.m. ET. Listeners can access the webcast live through the Company’s website at https://investor.wyndhamhotels.com. The conference call may also be accessed by dialing 800 225-9448 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 beginning at noon ET on October 26, 2022. A telephone replay will be available for approximately ten days beginning at noon ET on October 26, 2022 at 800 839-4197.
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. The Company uses these measures internally to assess its operating performance, both absolutely and in comparison to other companies, and to make day to day operating decisions, including in the evaluation of selected compensation decisions. 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 by the number of properties, with approximately 9,100 hotels across over 95 countries on six continents. Through its network of approximately 836,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 23 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers over 97 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. The Company may use its website as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Disclosures of this nature will be included on the Company’s website in the Investors section, which can currently be accessed at www.investor.wyndhamhotels.com. Accordingly, investors should monitor this section of the Company’s website in addition to following the Company’s press releases, filings submitted with the Securities and Exchange Commission and any public conference calls or webcasts.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements related to the Company’s current views and expectations with respect to its future performance and operations, including revenues, earnings, cash flow and other financial and operating measures, share repurchases and dividends, restructuring charges and statements related to the coronavirus pandemic (“COVID-19”). Forward-looking statements include those that convey management’s expectations as to the future based on plans, estimates and projections at the time the Company makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “intend,” “goal,” “future,” “outlook,” “guidance,” “target,” “objective,” “estimate,” “projection” 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 the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. 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 continuation or worsening of the effects from COVID-19, its scope, duration, resurgence and impact on the Company’s business operations, financial results, cash flows and liquidity, as well as the impact on the Company’s franchisees and property owners, guests and team members, the hospitality industry and overall demand for travel; the success of the Company’s mitigation efforts in response to COVID-19; the Company’s performance during the recovery from COVID-19 and any resurgence or mutations of the virus; various actions governments, businesses and individuals continue to take in response to the pandemic, including stay-in-place directives (including, for instance, quarantine and isolation guidelines and mandates), safety mitigation guidance, as well as the timing, availability and adoption rates of vaccinations, booster shots and other treatments for COVID-19; concerns with or threats of other pandemics, contagious diseases or health epidemics, including the effects of COVID-19; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising and management businesses; the Company’s relationships with franchisees and property owners; the impact of war, terrorist activity, political instability or political strife; risks related to restructuring or strategic initiatives; the Company’s ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to the Company’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and the Company’s ability to make or pay, plans for, and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in the Company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise.
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