Cloud-based, mobile-first solution from industry leader IDeaS prioritizes owner control and flexibility, pairing state-of-the-art capabilities with performance-driving data and analytics
PARSIPPANY, N.J. (June 28, 2022) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with more than 8,900 hotels across over 95 countries, today unveiled RevIQ, a next-generation, cloud-based, mobile-first revenue management system designed to help franchisees further optimize their revenue strategies and grow market share.
Created in collaboration with IDeaS, an industry leader in hotel revenue management software, RevIQ is built specifically for the needs of Wyndham franchisees and is designed to deliver top-tier performance while keeping control, flexibility and simplicity at the forefront. Leveraging real-time data and analytics to make automatic pricing recommendations and adjustments, the platform seamlessly integrates with Wyndham’s best-in-class property management systems and allows franchisees to optimize their strategies based on their own market insights—a key competitive differentiator.
“No one knows their business, competition or market better than our franchisees,” said Vikram Pradhan, group vice president, Global Revenue Management, Wyndham Hotels & Resorts. “For those reasons, it was critical we create a platform that, while powerful and robust in its data and analytics, also enables franchisees to incorporate their own knowledge and insights. RevIQ does exactly that, making it a simple, intuitive, easy-to-use tool that is as beneficial to experienced hoteliers as it is to those running their very first hotel.”
“What I love about RevIQ is it allows me to put my hotel’s revenue management strategy on autopilot, freeing my time to focus on other parts of the business while helping ensure I’m always getting the best possible return on every available room,” said Prativ Patel, owner of the Super 8 by Wyndham in San Bruno, Calif. and a member of the Super 8 by Wyndham Franchise Advisory Council. “It’s a game changer for Wyndham franchisees.”
Wyndham was the first major hotel company to introduce an automated revenue management system at scale in the economy and midscale segments, first deploying the system across its portfolio in 2015. RevIQ, the company’s latest offering, builds on that leadership position by delivering smart revenue management capabilities anytime, anywhere and on any device, with core benefits falling into three distinct categories:
Control – Hotel owners can create a custom pricing strategy based on market conditions and competition with full control over who they deem in their competitive set and the ability to change as needed. Competitors are automatically shopped five times daily, with RevIQ instantly adjusting its forecasts and recommendations.
Flexibility – Seamless integration, combined with a cloud-based, mobile-first design and single sign-on allows hotel owners the ability to easily transition between their property management and revenue management systems anytime, anywhere and across any device.
Simplicity – Designed with busy hotel owners and general managers in mind, RevIQ makes it easy to quickly update pricing, manage inventory, switch seamlessly between multiple hotels and more. Rate changes are immediate across all channels while a clean, intuitive interface allows for faster training of new team members.
RevIQ is available now to all Wyndham franchisees running Sabre SynXis Property Hub with plans to roll out to hotels on Oracle’s OPERA Cloud Property Management later this year, with portfolio-wide adoption by 2024. Part of Wyndham’s continued digital transformation, RevIQ is the latest on a growing list of strategic technology investments made by Wyndham as it looks to enhance the guest experience while delivering best-in-class resources and enhanced operational efficiencies for its franchisees. For more information, including hotel development opportunities, visit www.wyndhamdevelopment.com.
About IDeaS
IDeaS, a SAS company, is the world’s leading provider of revenue management software and services. With over 30 years of expertise, IDeaS delivers revenue science to more than 18,000 clients in 144 countries. Combining industry knowledge with innovative, data-analytics technology, IDeaS creates sophisticated yet simple ways to empower revenue leaders with precise, automated decisions they can trust. Results delivered. Revenue transformed. Discover greater profitability at ideas.com.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with over 8,900 hotels across over 95 countries on six continents. Through its network of over 813,000 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 22 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 94 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 collection is positioned to continue its significant momentum with 75 hotels in the development pipeline
PARSIPPANY, N.J. (June 6, 2022) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with over 8,900 hotels across 95 countries, is celebrating the five-year anniversary of Trademark Collection by Wyndham and the collection’s significant momentum. The brand is designed for travelers seeking distinctive, attainable accommodations in sought-after destinations with each Trademark hotel maintaining its own unique attributes. Trademark has more than 145 hotels open with more than 35 opening in just the last 18 months. The Company expects Trademark to remain on a steady growth trajectory with 75 hotels in its development pipeline and upcoming openings expected in key markets such as Miami and Key Largo, Fla.; Cleveland, Ohio; and Kissimmee, Fla.
“Hospitality entrepreneurs are attracted to the Trademark Collection, as they can retain their own vision and hotel’s character, while being backed by Wyndham and our unwavering support,” said Chip Ohlsson, Chief Development Officer, Wyndham Hotels & Resorts. “Each hotel in the Trademark Collection by Wyndham is truly unique and independent, offering a distinct and authentic experience for guests.”
Wyndham Announces Upcoming Hotels Joining the Trademark Collection
The brand is set to continue its growth in the second half of 2022 and beyond, including:
The Legacy, Trademark Collection by Wyndham in Green Bay, Wis.
Set one block from Lambeau Field in the Green Bay Legends District, this sleek new construction boutique hotel will break ground in June 2022 and will offer 79 distinguished suites featuring “industrial chic elegance,” a restaurant and bar in the lobby, meeting rooms, a fitness center and a rooftop terrace and bar with comfortable seating and lush landscaping.
The Orbit Hotel, Trademark Collection by Wyndham in Cleveland, Ohio
Located in the suburb of Fairview Park across the street from Cleveland Hopkins International Airport and NASA Glenn Research Center, this former NASA building previously housed over a thousand NASA engineers who were instrumental in the space race and Apollo missions, will emerge as a Trademark Collection hotel with views of Rocky River Reservation and the airport runway. The hotel will feature patented soundproof windows in its 54 guestrooms. Amenities include a pool, fitness center, wellness room and indoor and outdoor dog parks.
Dove Creek Resort & Marina, Trademark Collection by Wyndham in Key Largo, Fla.
This intimate oceanfront resort with 23 guestrooms sits at the southern tip of Key Largo directly on the Atlantic Ocean. The variety of accommodations ranging from ocean-view guest rooms and deluxe studios to one and two-bedroom suites welcome everyday travelers seeking a warm, friendly, uncomplicated and personal getaway. Guests can relax on the shoreline, embark on fishing and diving excursions or visit the adjacent John Pennekamp Coral Reef State Park, America’s first underwater park. The property welcomes transient and business travelers alike and specializes in celebrating memorable business retreats, intimate and unforgettable honeymoons and long-awaited reunions for families and friends.
Trademark Collection Celebrates Recent Openings in Key Global Markets
In the past 18 months, the Trademark Collection has welcomed noteworthy hotels around the world to the portfolio. Recent highlights include:
The Buccaneer Beach & Golf Resort, Trademark St. Croix USVI: A family owned and operated property, this stunning U.S. Virgin Islands resort is a 25-minute drive from Henry E. Rohlsen Airport (STX) and less than a ten-minute drive from the waterfront shops and restaurants in downtown Christiansted. Celebrating its 75th anniversary this year, the 340-acre hotel is the island’s only four-star resort and offers 130 guestrooms and suites.
BEI Hotel San Francisco, Trademark Collection by Wyndham: Set in the heart of San Francisco near the Financial District and Union Square, this boutique hotel is within walking distance from unforgettable local arts, dining, and cultural experiences.
The Beekman Tower, Trademark Collection by Wyndham: A premiere high-rise hotel in the heart of New York City offering visitors modern amenities for a comfortable stay, fine dining, craft cocktails, and easy access to the city’s top highlights and attractions.
MB Hotel, Trademark Collection by Wyndham: Beachfront Bliss in Miami Beach, this hotel is only 13 miles from Miami International Airport (MIA) and five miles from South Beach. Guests can soak up the sun, experience epic nightlife, browse the shops along Lincoln Road Mall or visit top attractions such as the Art Deco Museum, the Holocaust Memorial Miami Beach, and Vizcaya Museum & Gardens.
Leavenworth Local, Trademark Collection by Wyndham: Located right in the heart of downtown Leavenworth, Kan., this hotel is in a converted 1923 high school with original architectural details and unique touches, such as a lounge space set in the former gymnasium. All of the guest rooms and suites are in converted classrooms, and feature chalkboards, as well as kitchenettes with microwave, mini-refrigerator, and cooktop. Guests have easy access to Fort Leavenworth, tours along the Missouri River, and the area’s many boutiques and antique shops.
Los Cabos Golf Resort, Trademark Collection by Wyndham: This relaxing retreat is nestled on the championship Cabo San Lucas Country Club Golf Course and minutes from the Marina Cabo San Lucas, offering fishing, scuba diving and whale watching excursions.
The Americus Hotel, Trademark Collection by Wyndham: A historic, ornate Jazz-Age hotel in Allentown, Pa., this property was built in 1926 and features a majestic ballroom and vintage vibes paired with contemporary amenities. Located near the PPL Center and ArtsWalk, guests can enjoy a stay in the city’s downtown area and check out vintage cars at the America on Wheels Museum, stroll through the Allentown Rose Gardens or explore an exhibit at the Da Vinci Science Center.
Chateau Mar Golf Resort, Trademark Collection by Wyndham: Following an extensive $12 million property-wide renovation, this Lauderhill, Fla. hotel offers an enhanced guest experience through high-tech amenities such as vinyl turntables featuring Bluetooth technology, Echo Dots and Fire Tablets in guestrooms, and robot butlers. The resort is committed to supporting the autism community through hiring opportunities and dedicated hotel amenities and offerings. Hotel team members are trained on autism sensitivity, so autistic travelers and their families and friends are greeted with a welcoming and inclusive environment.
Hotel Avenue Louise Brussels, Trademark Collection by Wyndham: This hotel is set in the business and shopping heart of the Belgian capital, with easy access to the shops along Avenue Louise and important business locations like the European Parliament.
“I have seen firsthand how the support of Wyndham’s global sales, marketing and loyalty teams paired with access to Wyndham’s negotiated discounts with suppliers allows hoteliers to deliver a high-level of service to our guests, while reducing costs and simplifying operations and efficiencies,” said David Crisafi, President of Ceres Enterprises and Wyndham franchisee who is converting a third hotel to a Wyndham brand with the Trademark by Wyndham in Cleveland, Ohio. “By joining the Trademark Collection by Wyndham, we are able to preserve the individuality of our hotel while taking advantage of resources from the world’s largest hotel company.”
About Trademark Collection by Wyndham Each of Trademark Collection by Wyndham’s upper-midscale-and-above hotels around the world – from landmark hotels in Europe, Asia, The Americas and the Caribbean to its flagship hotel, The Galt House Hotel in Louisville, Ky. – boast three common attributes: character, charm, and individuality. Launched in 2017, Trademark Collection is the first Wyndham-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 by the number of properties, with over 8,900 hotels across over 95 countries on six continents. Through its network of over 813,000 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 22 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 94 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.
This press release contains “forward-looking statements” within the meaning of U.S. federal securities laws, including the expected addition of hotels and similar statements concerning possible future results or performance. You are cautioned not to place undue reliance on these forward-looking statements, which are not guarantees of future results or performance, speak only as of the date of this press release and are subject to numerous risks and uncertainties, including the risks described in Wyndham Hotels’ most recent Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission, any of which could cause actual results or performance to be materially different from the future results or performance expressed or implied by such forward-looking statements. Except as required by law, The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise.
First-of-its kind experience comes as over 80% of U.S. travelers plan to take a road trip
this year, helping them seamlessly create, customize and book multi-hotel itineraries
PARSIPPANY, N.J., May 23, 2022 – Queue up the playlist and pack those snacks because planning the ultimate summer road trip is now easier than ever. Wyndham Hotels & Resorts, the world’s largest hotel franchising company with over 8,900 hotels across more than 95 countries, today announced the launch of Road Trip Planner, the latest digital innovation to its award-winning mobile app. A first-of-its-kind offering from a major hospitality company, the interactive booking tool the road trip discovery, planning and booking process, allowing travelers to seamlessly plot their next trip in minutes. It’s The Easiest Way to Book & GoSM.
Road trips became the go-to vacation for families amid the pandemic and continue to be the preferred way to travel for many this summer travel season. In fact, recent research commissioned by Wyndham for its American Road Trip Index revealed that while over 80% of travelers plan to take a road trip this year, with two-thirds (66%) feeling overwhelmed by trying to figure out where to stay.
“With thousands of hotels across our country’s highways and byways and 22 trusted brands, there is no company better positioned to help travelers experience the road trip of their dreams,” said Jessica Davidson, senior vice president, digital, Wyndham Hotels & Resorts. “With Road Trip Planner, travelers enter a few details about the trip and instantly get an itinerary with all their hotel stops, bookable in one single transaction. It not only eases the stresses of travel planning but ensures the journey is as exciting as the destination.”
A Seamless Solution for Road Trippers
Created to help travelers both at home and on the go, Road Trip Planner is the latest addition to the ever-evolving Wyndham Hotels & Resorts digital platform, further demonstrating the company’s commitment to delivering value to its hotel owners and guests. While guests enjoy a seamless planning and booking experience, owners benefit from direct bookings that are encouraged through the feature’s ability to book multiple hotel stays at once. Key to the design is functionality that enables guests to plan, create and book trips that work for them—from the family looking to head out west and visit our nation’s parks this summer, to long-haul truckers regularly making their way up and down the coast.
Among Road Trip Planner’s key features:
Custom Itineraries – Customize your route from A to B and discover what you love in between. Tailor itineraries filtering by driving time or distance, preferred brands, amenities, pet-friendly locations and more.
Recommended Routes – Leave the planning to us. Map a route with preferred stops or discover a recommended route based on your travel preferences.
Details at Your Fingertips: Stay connected throughout your journey. View multiple reservations on one screen, look up key amenities and share on-property requests ahead of time.
Pay Your Way – Pay in the way that works best for you including Wyndham Rewards points, cash or mix of the two.
Added Davidson, “Built upon the success and strong adoption of our mobile app, Road Trip Planner is the perfect complement to Lightning Book®, which is our Fastest Way to Book DirectSM and enables guests to reserve a hotel in just a few taps. Now, whatever your travel preferences—be it booking last minute or planning far ahead—Wyndham has you covered. Summer, here we come!”
Understanding the Road Tripper Mindset
Earlier this month, Wyndham teamed up with Wakefield Research to commission its first-ever American Road Trip Index, uncovering key insights around travelers upcoming road trip plans while tapping into pop-culture preferences.
Among some of the top insights from travelers:
Pete is the popular pick: 56% would choose to road trip with Pete Davidson over Kim Kardashian, with Gen Z (60%), Gen X (58%) and Boomers (58%) leading the charge. For Millennials (53%), Kim is still queen.
Adele rocks the radio: 34% put her at the top of their perfect road trip playlist, followed by Queen (28%), Bon Jovi (26%) and Bruce Springsteen (24%).
Take away the TV: 59% would sooner give up a month of TV before giving up a week of vacation, with Millennials (67%) and Gen X (66%) being the most eager to trade in their TV remotes.
Apologies to the in-laws: Asked to pick their top 3 road trip companions, 93% would rather road trip with someone other than them, including a best friend (80%), a sibling (61%) or even a member of congress (9%).
Food is the focus: 1-in-2 (50%) put trying a new restaurant among their road trip travel plans while over a third (34%) are looking forward to exploring a small town.
Going the distance: Road trippers plan to travel on average over 700 miles on their next trip, with over a quarter (27%) planning to travel 1,000 miles or more.
Grabbing the wheel: 53% prefer to be the driver over the passenger, with men (73%) overwhelmingly preferring to drive vs. women.
Wyndham’s Road Trip Planner is available today as part of the award-winning Wyndham Hotels & Resorts mobile app. Travelers can download the app via the Apple App and Google Play stores. Wyndham’s mobile app offers mobile check-in and checkout, innovative in-stay features, best-in-class design, personalized experiences, Wyndham Rewards® account management, gamification and more. Users can also take advantage of unique features like Lightning Book®, which makes it easy to book the nearest Wyndham hotel for the night.
Between May 26 to May 30, 2022, members can take advantage of Wyndham’s latest flash sale offer – 8,000 bonus points – redeemable for a $25 Visa prepaid card when they book two-nights or more through Wyndham’s mobile app. Simply tap the Mobile App Flash Sale offer on the app’s home screen to access the offer. Membership in Wyndham Rewards, which is free to join, is required, and non-members can quickly enroll as part of the booking process. A two-night minimum stay is required and stays must be completed by June 30, 2022. For full terms and conditions, visit www.wyndhamhotels.com/app.
Survey Methodology Wyndham Hotels & Resorts Survey was conducted by Wakefield Research among 1,000 Nationally Representative U.S. adults 18+, between May 11th to May 15th, 2022, using an email invitation and an online survey. The survey was weighted to ensure accurate representation of US adults ages 18+. The margin of error for the study is 3.1%.
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with over 8,900 hotels across over 95 countries on six continents. Through its network of over 813,000 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 22 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 94 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 Releases 2022 Environmental, Social, and Governance Report and is Recognized by DiversityInc and Forbes for its Dedication to Diversity
PARSIPPANY, N.J. (May 4, 2022) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with over 8,900 hotels across over 95 countries, released its 2022 Environmental, Social, and Governance (ESG) Report highlighting its dedication to operating in a socially, ethically and environmentally responsible way. These commitments are underscored by recent accolades, including recognition by DiversityInc, which highlighted Wyndham as a company with leading diversity practices for 2022, and Forbes as one of The Best Employers for Diversity 2022.
“The significance of our Company’s vision – to be the world’s leading hotel company by delivering the best value to owners and guests – is more important than ever. We believe as the world’s largest hotel franchisor, we have the responsibility to strengthen the communities in which we serve as we protect the environment for future generations while continuing the growth and success of our global franchise system,” said Geoffrey A. Ballotti, president and chief executive officer, Wyndham Hotels & Resorts. “We have witnessed the incredible resiliency of our owners, guests, and team members during these past two years. And as people return to traveling in record numbers, we look forward to welcoming them to Wyndham where we have a brand for every guest as we work to continue to advance our values-driven culture.”
Focus on Diversity, Equity & Inclusion
Deeply committed to a culture of diversity, equity and inclusion (DEI) across the organization, Wyndham believes that diverse backgrounds, cultures, and experiences help drive the company’s success and was recognized by DiversityInc as a company with leading diversity practices for 2022. The Company was also recently recognized by Forbes as one of The Best Employers for Diversity 2022, and for the fourth consecutive year, Wyndham received another perfect score on the Human Rights Campaign’s 2022 Corporate Equality Index measuring LGBTQ workplace equality.
Wyndham continuously infuses different perspectives into the workplace that reflect its diverse guests, customers, and communities around the world and offers enhanced training to address unconscious biases and racism and also foster allyship.
Advancing its commitment to diversity, Wyndham unveiled its innovative “Women Own the Room” program, 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 the brand’s commitment to DEI. The program is generating great interest and has proudly awarded new hotel development contracts to women developers for projects in Colorado, Delaware, Texas, Virginia, Oklahoma, and Florida.
“We have created a culture that fosters an inclusive workplace for our team members, where all individuals are treated with respect and can achieve both personal and professional success,” said, Monica Melancon, chief human resource officer, Wyndham Hotels & Resorts.
Leadership in Sustainability
Wyndham is committed to protecting the environment and demonstrating leadership in environmental programs, policies, and performance. Accelerating those efforts, the Company announced that hotels across the world will be required, as part of their brand standard compliance, to attain level 1 in the Wyndham Green Program by April 2023. The Wyndham Green Program is a five-level certification program that helps reduce a hotel’s environmental footprint, includes a proprietary environmental management tool that tracks data to help hotels improve energy efficiency, reduce emissions, conserve water, and reduce waste while helping drive the owner’s bottom line. Wyndham’s work has been recognized through its participation in CDP’s climate change and water security responses, where it achieved the management band for sustainability performance and disclosure.
Wyndham Hotels & Resorts was recognized as one of America’s Most Responsible Companies for 2022 by Newsweek, which honors those with superior environmental and social responsibility practices. The Company remains committed to reducing the energy and carbon footprint of all Wyndham hotels, and continuously evaluates opportunities to increase efficiencies and the usage of renewable energy where feasible. By 2025, the Company has committed to reducing absolute carbon emissions in Scope 1 and 2 emissions by 15%, compared to the 2019 baseline, and achieving 100% renewable energy at corporate headquarters, and North American offices. The Company’s corporate headquarters has a Gold LEED EBOM and Energy Star Certification and provides team members with complimentary access to electric vehicle charging stations to encourage more sustainable commuting and increase adoption of zero-emission vehicles.
Wyndham Hotels & Resorts prepared its ESG report in accordance with the Global Reporting Initiative (GRI) Standards, integrating the recommendations of the Sustainability Accounting Standards Board (SASB) and the Taskforce on Climate-related Financial Disclosures (TCFD). The company obtained third-party assurance over selected data disclosed in this report, as indicated by the 2021 Assurance Statement included in the report. The report covers the performance of Wyndham Hotels & Resorts, Inc for the 2021 calendar year and includes the Company’s owned and managed operations, unless otherwise stated, as well as enhanced disclosure around risk management. All financial figures indicated in the report are in U.S. dollars, unless otherwise noted.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with over 8,900 hotels across over 95 countries on six continents. Through its network of over 813,000 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 22 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 94 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.
Global Development Pipeline and First Quarter Domestic RevPAR Grow to Record Levels
PARSIPPANY, N.J., April 26, 2022 – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended March 31, 2022. Highlights include:
Global RevPAR grew 39% compared to first quarter 2021 in constant currency.
System-wide rooms grew 200 basis points year-over-year, including 120 basis points of growth in the U.S. and 330 basis points of growth internationally.
Diluted earnings per share of $1.14 compared to $0.26 in the first quarter 2021; adjusted diluted earnings per share increased to $0.95 compared to $0.36 in first quarter 2021.
Net income of $106 million compared to $24 million in first quarter 2021; adjusted net income of $88 million compared to $33 million in first quarter 2021.
Adjusted EBITDA of $159 million compared to $97 million in first quarter 2021.
Net cash provided by operating activities of $135 million compared to $64 million in first quarter 2021; free cash flow of $125 million compared to $59 million in first quarter 2021.
Completed the exit of its select-service management business.
Completed the sale of the Wyndham Grand Bonnet Creek Resort; the Wyndham Grand Rio Mar Resort is under contract and expected to close in May 2022.
Returned $68 million to shareholders through $38 million of share repurchases and a quarterly cash dividend of $0.32 per share.
“Our exemplary first quarter results demonstrate the power of our brands and the value we are driving to our owners, guests, and shareholders,” said Geoffrey A. Ballotti, president and chief executive officer. “Strong leisure and everyday business travel demand drove RevPAR 4% above 2019 levels domestically and we continued to simplify our operations by exiting our select-service management business and selling one of our two owned assets. Our development pipeline increased 9% to a record 204,000 rooms, including the first 50 deals for our new extended-stay product, and our room openings grew 50% more than last year, putting us solidly on track with our full year net-room growth guidance.”
Fee-related and other revenues increased 36% year-over-year to $316 million primarily reflecting strong ADR growth in the U.S.
The Company generated net income of $106 million, or $1.14 per diluted share, an increase of $82 million, or $0.88 per diluted share, reflecting higher adjusted EBITDA, a gain on the sale of the Wyndham Grand Bonnet Creek Resort and lower net interest expense. Adjusted EBITDA increased $62 million, or 64%, versus 2021 to $159 million reflecting higher revenue and a favorable timing benefit from the marketing fund, partially offset by higher variable expenses at the Company’s owned hotels.
During the first quarter 2022, the Company’s marketing fund revenues exceeded expenses by $7 million; while in first quarter 2021, the Company’s marketing fund expenses exceeded revenues by $7 million.
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 200 basis points, reflecting 120 basis points of growth in the U.S. and 330 basis points of 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 12%, respectively. The Company remains solidly on track with its goal of achieving a retention rate above 95% and its net room growth outlook of 2 to 4% for the full year 2022.
RevPAR
First quarter RevPAR grew 39% globally in constant currency, including 38% growth in the U.S. and 46% growth internationally. The increase is approximately two-thirds driven by stronger pricing power and one-third driven by higher occupancy levels.
Business Segment Discussion
Hotel Management revenues increased 5% year-over-year to $99 million, including a $16 million decrease in cost-reimbursement revenues, which have no impact on adjusted EBITDA. Absent cost-reimbursements, Hotel Management revenues increased $21 million, or 91%, to $44 million primarily due to the global RevPAR increase and improved performance at the Company’s owned hotels. Hotel Management adjusted EBITDA increased $15 million year-over-year reflecting the revenue increases, partially offset by higher variable expenses at the Company’s owned hotels.Hotel Franchising revenues increased 30% year-over-year to $272 million primarily due to the global RevPAR increase. Hotel Franchising adjusted EBITDA increased 48% to $155 million reflecting the growth in revenues and a timing benefit from the marketing fund.
Development
The Company awarded 165 new contracts this quarter, including 50 new construction projects for the Company’s new extended-stay brand, compared to 112 in the first quarter 2021. On March 31, 2022, the Company’s global development pipeline consisted of approximately 1,600 hotels and approximately 204,000 rooms, of which approximately 80% is in the midscale and above segments (nearly 70% in the U.S.). The pipeline grew 9% year-over-year, including 12% domestically and 7% internationally. Approximately 63% of the Company’s development pipeline is international and 79% is new construction, of which approximately 35% has broken ground.
Exit of Select-Service Management Business
On March 3, 2022, the Company completed the exit of its select-service management business and received proceeds of $84 million from CorePoint Lodging (“CPLG”). The franchise agreements for these hotels remained in-place at their stated fee structure with CPLG’s buyer, Highgate Holdings, Inc. The proceeds received were offset on the Company’s income statement by the non-cash write-off of the remaining balance of the management contract intangible asset that was created upon the acquisition of La Quinta Holdings in 2018.
Sale of Owned Hotels
On March 24, 2022, the Company completed the sale of the Wyndham Grand Bonnet Creek Resort in Orlando for gross proceeds of approximately $121 million and recognized a $36 million gain on sale, which has been excluded from Adjusted EBITDA. The Company entered into a 20-year franchise agreement with the buyer.
The Company is under contract and expects to complete the sale of the Wyndham Grand Rio Mar Resort in Puerto Rico in May 2022. The Company expects to enter into a 20-year franchise agreement with the buyer in connection with the sale.
Balance Sheet and Liquidity
The Company generated $135 million of net cash provided by operating activities in the first quarter of 2022 and $125 million of free cash flow. The Company ended the quarter with a cash balance of $416 million, including $84 million of proceeds received in connection with the Company’s exit of its select-service management business and gross proceeds of approximately $121 million received in connection with its sale of the Wyndham Grand Bonnet Creek Resort. These inflows are reflected within the investing section of the Statement of Cash Flows and therefore not included in the Company’s free cash flow.
At March 31, 2022, the Company had approximately $1.2 billion in total liquidity and its net debt leverage ratio was 2.6 times, below the Company’s 3 to 4 times stated target range. Excluding the proceeds received in connection with the exit of its select-service management business and the sale of the Wyndham Grand Bonnet Creek Resort, which are expected to be redeployed, the net debt leverage ratio was 2.9 times.
In April 2022, the Company amended its $750 million revolving credit facility, extending the maturity from May 2023 to April 2027 on similar terms as the previous facility, and issued a new $400 million senior secured Term Loan A facility, which matures in April 2027. The proceeds from the Term Loan A were used to repay a portion of the Company’s existing Term Loan B facility, which is scheduled to mature in May 2025. There was no increase in rates from the Term Loan B to the new Term Loan A.
Share Repurchases and Dividends
During the first quarter of 2022, the Company repurchased approximately 455,100 shares of its common stock for $38 million at an average price of $83.72 per share.
The Company paid common stock dividends of $30 million, or $0.32 per share, in the first quarter of 2022.
Full-Year 2022 Outlook
The Company is updating its outlook as follows:
(a) Reflects the removal of post-sale revenues related to the Wyndham Grand Bonnet Creek and Wyndham Grand Rio Mar from prior projections.
(b) Reflects the removal from prior projections of depreciation related to the Wyndham Grand Bonnet Creek and Wyndham Grand Rio Mar.
(c) Represents the percentage of adjusted EBITDA that is expected to produce free cash flow.
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, April 27, 2022 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 866 831-8713 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 April 27, 2022. A telephone replay will be available for approximately ten days beginning at noon ET on April 27, 2022 at 800 839-4992.
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 over 8,900 hotels across over 95 countries on six continents. Through its network of over 813,000 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 22 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 94 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.
PARSIPPANY, N.J. (March 22, 2022) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,000 hotels across nearly 95 countries, today unveiled new details about its upcoming economy extended-stay hotel brand. Among them, newly awarded contracts to develop 50 new construction projects with its first two partners: Richmond, Va.-based Sandpiper Hospitality and Dallas-based Gulf Coast Hotel Management.
Operating under the working title “Project ECHO”—an acronym for Economy Hotel Opportunity—the all new-construction brand fills whitespace within the larger Wyndham Hotels & Resorts portfolio while strategically expanding the company into a segment that has seen record growth and resiliency, not just amid the pandemic but throughout the last lodging cycle. Wyndham has been developing the brand since summer 2021.
“Over the last two years, economy extended-stay hotels outperformed all other segments, and in 2021, set new records for occupancy, ADR and RevPAR,” said Geoff Ballotti, president and chief executive officer, Wyndham Hotels & Resorts. “Demand for these accommodations only continues to climb—both from guests and developers alike—making now the right time for Wyndham, the definitive leader in the economy segment, to bring our experience and expertise to this high-potential space.”
Economy extended-stay hotels are proven to consistently perform throughout all stages of the lodging cycle and are particularly resilient amid a downturn. During the global pandemic, U.S. RevPAR for the segment grew 8% versus 2019 while the rest of the industry declined 17%. Further, in 2021, the average U.S. occupancy for economy extended-stay hotels was over 78% — 20 points higher than all other U.S. segments combined.
A Developer-Driven Approach Project ECHO was created with the help of a seven-member development council, which consists of some of the largest and most experienced owners and operators currently in the economy extended-stay segment. The council’s insights are being paired with the experience and expertise of Wyndham’s in-house design and construction team. In recent years, the team has spearheaded the creation of La Quinta by Wyndham’s highly successful Del Sol prototype, currently at over 130 hotels with another 56 in its pipeline; and more recently, Microtel by Wyndham’s Moda prototype, which has another 40 hotels under development. At a time when rising construction costs are driving the need for ultra-efficiency, all three prototypes prioritize owner return on investment with an emphasis on value engineering and streamlined operations, helping optimize operating margins on a recurring basis.
“Wyndham not only understands its owners and developers but listens to and acts on their needs” said Carter Rise, chairman and chief executive officer, Sandpiper Lodging Trust. “That commitment, paired with best-in-class design and a deep, fundamental understanding of the economy guest, is a differentiator in our industry and is ultimately why we chose to partner with Wyndham.”
The purpose-built, 124-room Project ECHO prototype requires just under two acres of land, has a highly competitive cost per key, and features multiple characteristics that intentionally separate it from traditional economy brands. Coming in at just over 50,000 square-feet—nearly 74% of which is rentable—individual rooms average 300 square-feet and consist of single and two-queen studio suites with in-suite kitchenettes while efficiently-designed public spaces—a lobby, fitness center and guest laundry—help to limit labor needs.
“From day one, Wyndham has made a point of reaching out and asking, ‘What should be done differently?’ It wasn’t about dictating to us what the brand would be but rather, wanting to understand its potential and how our experience and expertise could best help developers meet their goals,” said Ian McClure, chief executive officer, Gulf Coast Hotel Management. “For us, that went a long way. It showed they’re committed to getting this brand right.”
Strategic Growth via Multi-Unit Operators With 50 hotels already in the initial pipeline—25 each from Sandpiper and Gulf Coast over the next five years—Wyndham is now eyeing additional growth opportunities. The brand expects to open its first hotel in 2023 and is actively talking to additional, multi-unit operators with experience in the segment, a key part of the brand’s growth strategy.
Wyndham intends to be thoughtful with early development partners, prioritizing brand integrity while building a robust multi-year pipeline. To assist qualified developers, the Company has identified possible development markets across the U.S. and will make available various incentives to select early developers. Wyndham is targeting at least 300 hotels over the next ten years in the U.S. with potential for additional growth internationally.
Industry-Leading Support, Experienced Extended-Stay Leadership Recognizing the immense importance of early franchisee success and the unique business model of economy extended-stay, Wyndham has assembled a dedicated leadership and operations support team around Project ECHO, one deeply rooted in experience with extended-stay brands.
Led by Vice President of Operations Dan Leh, a hospitality industry veteran with more than 25 years of extended-stay experience, the team brings extensive expertise across all facets of extended-stay operations, including but not limited to, design and construction, pre-opening operations, sales, revenue management, labor management, owner relations and more. Their efforts are complemented by dedicated Project ECHO sales teams, both at the local and national level, who will focus exclusively on matching hotels with Wyndham’s robust and expanding list of long-term guests across small, mid-size and Fortune 500 businesses.
On a broader scale, Project ECHO enables Wyndham to now offer guests and developers a portfolio of extended-stay offerings. Hawthorn Suites by Wyndham, the Company’s existing midscale extended-stay brand, is a pivotal part of the Company’s new dual-brand concept with La Quinta by Wyndham, which continues to see robust interest from developers with 36 hotels currently under development—two of which are being developed by Trusha Patel, inaugural member of Wyndham’s Women Own the Room program.
Additional details around Project ECHO—including the brand’s official name—are slated to be announced when the brand formally launches later this year. For more information, including development opportunities, visit www.projectecho.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 9,000 hotels across approximately 95 countries on six continents. Through its network of over 810,000 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 22 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services. The Company’s award-winning Wyndham Rewards loyalty program offers over 92 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 U.S. federal securities laws, including the expected addition of hotels and similar statements concerning possible future results or performance. You are cautioned not to place undue reliance on these forward-looking statements, which are not guarantees of future results or performance, speak only as of the date of this press release and are subject to numerous risks and uncertainties, including the risks described in Wyndham Hotels and Resorts most recent Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission, any of which could cause actual results or performance to be materially different from the future results or performance expressed or implied by such forward-looking statements. Except as required by law, Wyndham Hotels and Resorts undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise.
Innovative Program Helps Advance and Empower Women Entrepreneurs Through Hotel Ownership
PARSIPPANY, N.J., March 8, 2022 – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,000 hotels across nearly 95 countries – announced today the addition of two new women hoteliers as part of the brand’s “Women Own the Room” initiative, on the heels of last month’s first two signed agreements. Designed to advance and empower women entrepreneurs to break through the predominantly male-dominated hotel industry, the “Women Own the Room” program provides assistance with financial solutions, personalized operational support, and networking and educational opportunities. These impressive new program members will be opening new hotels in Dover, Del and Warrenton, Va.
“Women want to own and develop hotels – the momentum we’re seeing proves it – they’ve just lacked trusted partners and advocates who will help guide them in their pursuits,” said Lisa Checchio, Chief Marketing Officer, Wyndham Hotels & Resorts. “The mentorship opportunities and resources Women Own the Room provides are invaluable and will better inspire and prepare future generations of women hoteliers.”
Wyndham celebrated its first “Women Own the Room” signed agreements with new owner Trusha Patel in January 2022 for the debut of two new La Quinta and Hawthorn Suites dual-branded hotels in Texas. The two new women entrepreneurs announced as members are:
Hetal Christian, just opened a Wyndham Garden hotel in Dover, Del. Christian looks forward to the expanded development and operational support the program provides as she expands her portfolio into the profitable upper midscale segment.
Neha Jadhav, will open a La Quinta and Hawthorn Suites dual-branded hotel in Warrenton, Va. This new hotel will be her first new construction project.
While the tourism and hospitality industry workforce is comprised of 70% women, only 10% of development roles are held by them. “Women Own the Room” helps to clear the path for women eager to make their mark on the hospitality industry and aims to amend the lack of female representation in hotel ownership, real estate, and investment funding roles. With Wyndham’s longstanding commitment to diversity, equity, and inclusion – including gender diversity, women’s economic empowerment and advancing women entrepreneurs – this program is a natural progression of the hotel brand’s efforts to create a level playing field within the hospitality industry.
In addition to extensive mentorship and networking opportunities, the program offers a development incentive program that provides meaningful Wyndham financing, discounts on initial fees and complimentary first-year operating services to support the success of hotels developed by women.
“There are so many paths available to take in hospitality. A new construction project provides me with new challenges, but also new barriers that Women Own the Room is helping me break through,” said Neha Jadhav. “Wyndham has helped me navigate this new territory, provided me with the necessary tools for future success, and given me the opportunity to share my experiences with other women hoteliers. I’m proud to help pave the way for others and look forward to supporting more women pursue their dream of hotel ownership.”
To get involved and stay up-to-date on the Women Own the Room’s upcoming events, visit www.womenowntheroombywyndham.com. Developers interested in collaborating with Wyndham can visit Wyndhamdevelopment.com or contact the Wyndham Franchise Development team by email at [email protected].
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,000 hotels across approximately 95 countries on six continents. Through its network of over 810,000 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 22 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services. The Company’s award-winning Wyndham Rewards loyalty program offers over 92 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.
Kicking off today, Wyndham Rewards members can unlock weekly surprise offers during “Member Month,” including hotel discounts, bonus point offers and more.
PARSIPPANY, N.J. – (March 2, 2022) – Wyndham Rewards®, the world’s most generous rewards program spanning more than 50,000 hotels, vacation club resorts and vacation rentals, today announced the return of “Member Month,” a month-long celebration of Wyndham Rewards members featuring five weeks of exciting deals and discounts, available exclusively to members.
Every Wednesday throughout the month of March, Wyndham Rewards members can unlock a new surprise offer. Whether embarking on a bucket-list adventure or staying closer to home, Member Month rewards every type of traveler – with offers ranging from a mix of stay-based and at-home discounts, bonus point promotions and more. These weekly offers are available to all members globally—even those who enroll during the window of the promotion—and are stackable with other offers throughout the month.
“Member Month is all about celebrating and rewarding our Wyndham Rewards members,” said Lisa Checchio, chief marketing officer, Wyndham Hotels & Resorts. “Last year, we handed out more than 600 million points alongside some of our richest offers; this year, we’re looking to top that number with five weeks of exclusive deals. It’s our way of saying thank you to all those members who, year-in and year-out, have helped make our program number one.”
The first Member Month offer drops today with a 40% bonus on purchased points before April 3, 2022 (Minimum point purchase required). Members can purchase up to 45,000 points per year at www.wyndhamrewards.com or via Wyndham’s mobile app, available for iOS and Android.
The latest Member Month offers, including terms and conditions on each offer are available for members at www.wyndhamrewards.com/membermonth. New deals launch every Wednesday in March and there is no limit to the number of deals members can take advantage of during the promotion.
About Wyndham Rewards
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 50,000 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 approximately 9,000 hotels or tens of thousands of vacation club resorts and vacation rentals globally through affiliation with Wyndham Destinations and others. Wyndham Rewards has over 92 million enrolled members around the globe. Join for free today at www.wyndhamrewards.com. You’ve earned this.®
World’s largest hotel franchising company continues its growth trajectory across the region with new openings and brand entries
LONDON and PARSIPPANY, N.J. February 22, 2022 – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,000 hotels across nearly 95 countries, continues to expand across Europe, Middle East, Eurasia and Africa (EMEA) with a number of recent hotel launches and a strong line-up of openings expected in 2022.
In 2021 Wyndham achieved nearly 70 new hotel signings across EMEA and a host of exciting openings. In addition, the company launched several multi-faceted initiatives to support and empower hotel partners across EMEA to innovate and respond to changes in demand and on-going travel restrictions.
In Europe, Wyndham furthered its footprint of over 300 hotels with the addition of 12 resorts in sought-after destinations including Turkey’s Aegean coast, Spain’s Costa del Sol, the beautiful island of Tenerife, secluded country estates in the UK and the Austrian Alps, all offering a range of options for guests seeking to combine business and leisure. The European growth trajectory also included important openings in key cities, such as the expansion of the upper-upscale Dolce Hotels and Resorts by Wyndham brand in Denmark with stylish hotels in Copenhagen and Odense and the launch of Trademark Collection by Wyndham through more conversions in Budapest, Bucharest, Thessaloniki, Brussels, Manchester and Sheffield.
Turkey saw a continuation of growth as Wyndham further cemented its position as the largest international hotel company by number of properties, reaching nearly 90 hotels with new openings across the country, as well as the debut of its economy brand Days Inn in Istanbul and Ankara.
In the Middle East, Wyndham continued to bring more accommodation options to Dubai, as the city officially welcomed the highly anticipated Expo 2020 global exhibition, with more openings under the Howard Johnson, Ramada, as well as the La Quinta and Days Inn by Wyndham brands, both launched in the market for the first time in 2021. Wyndham also bolstered its leisure offering in Oman with the launch of Wyndham Garden Salalah Mirbat, a waterfront resort in a popular destination in the Sultanate.
In India, Wyndham reached its 50th hotel mark, with new openings in culturally rich destinations including Jaipur, Varanasi, Mohali and Udaipur under the Ramada, Howard Johnson by Wyndham and the upscale Wyndham brand. The expansion is part of Wyndham’s commitment to growth for the sub-Indian continent with a development pipeline of approximately 30 hotels, with eight expected to open in 2022 alone.
Other EMEA highlights included the steady expansion of Ramada by Wyndham brand with an additional 18 new hotels across the region, including a broad range of destinations from Georgia (Tbilisi), the UK (Cheltenham), Romania (Targu Jiu), and more.
Dimitris Manikis, President EMEA, Wyndham Hotels & Resorts, said: “We are proud to look back on what Wyndham has achieved across EMEA, despite the on-going challenges and disruption in the travel industry. We focused on strengthening our fruitful partnerships, adding more exciting destinations, and broadening the reach of our brands. Our growth is ultimately a testament to the resilience of our hotel partners and the value proposition Wyndham delivers to them. We are delighted to offer even more exciting hotels for our guests and look forward to working with our partners and teams across EMEA in 2022 and beyond.”
Some of the upcoming openings in 2022 will include:
• Wyndham’s first entry into Poland with the upscale Wyndham Wroclaw Old Town, slated to open this month. The hotel will feature 205 stylish guest rooms and a host of amenities in a central location near plenty of attractions and landmarks.
• Wyndham Garden Munich Messe in Germany, which will offer 267 modern guest rooms in the business district of the city. Recently opened, the hotel will add to the existing portfolio of 11 hotels in Munich from economy to upscale.
• Further growth of the Super 8 brand in Germany, with the 10th hotel under the brand to open in Koblenz in June in collaboration with GS Star.
• More additions under the Ramada, Ramada Encore and Days Inn by Wyndham brands in Turkey with new additions in Istanbul, Rize, Elbistan and more.
• Wyndham will open its TRYP brand for the first time in Greece with a stylish hotel in Corfu. Expected to open in April, TRYP by Wyndham Corfu Dassia will offer 48 rooms, contemporary interiors, and lush gardens.
• The debut of the Wyndham’s namesake brand in Cyprus with the upscale Wyndham Nicosia. The hotel will offer elegant accommodation in Nicosia’s main square, alongside several leisure amenities and conference space.
• Continued expansion in Kazakhstan, Uzbekistan and Georgia, including the highly anticipated Grigoleti Beach Resort, a new construction build, marking the first Trademark in the market.
• Additional development in the Middle East with the 278-room Wyndham Grand Doha West Bay Beach in Qatar, along with two more openings in Saudi Arabia.
• Further growth in India including Ramada by Wyndham Gangtok Hotel & Golden Casino in Gangtok City, featuring stunning views of the Himalayan range, and the launch of the 300-room Ramada Plaza by Wyndham Mumbai Sahar offering guests comfortable accommodations and direct accessibility to the second busiest airport in the country.
In 2021, Wyndham launched several new initiatives to support its EMEA hotel partners through the recovery, including a new host of revenue management tools rolled out with technology expert OTA Insight. The company also launched a new talent engagement program with educational sessions, podcasts, videos, and more resources to help hotel partners in EMEA attract, nurture, and retain team members.
Wyndham hotels in EMEA and around the world participate in Wyndham Rewards®, the world’s most generous hotel rewards programme with more than 50,000 hotels, vacation club resorts and vacation rentals worldwide.
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,000 hotels across approximately 95 countries on six continents. Through its network of over 810,000 rooms appealing to the everyday traveller, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 22 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services. The Company’s award-winning Wyndham Rewards loyalty programme offers over 92 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.
Exceeds Top End of Full-Year Outlook and Reports Largest Pipeline in Company’s History
Company Provides Full-Year 2022 Outlook
Board Increases Share Repurchase Authorization by $400 Million
PARSIPPANY, N.J., February 15, 2022 – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months and year ended December 31, 2021. Highlights include:
S. RevPAR for the quarter exceeded 2019 levels by 9%, growing 58% versus 2020.
System-wide rooms grew 180 basis points year-over-year, including 70 basis points of growth in the U.S. and 350 basis points of growth internationally.
Diluted earnings per share for the quarter of $0.52 and net income of $48 million; diluted EPS for the full-year of $2.60 and net income of $244 million.
Adjusted diluted earnings per share of $0.69 for the quarter and adjusted net income of $64 million; adjusted earnings per share for the full-year of $3.16 and adjusted net income of $297 million.
Adjusted EBITDA of $131 million for the quarter and $590 million for the full-year.
Net cash provided by operating activities for the full-year of $426 million and free cash flow of $389 million.
Returned over $190 million to shareholders for the full-year through share repurchases and dividends.
“With a 9% U.S. RevPAR increase and another 340 basis points of domestic market-share gains versus 2019 – we were very pleased with our performance this quarter as each month saw stronger growth than the month prior,” said Geoffrey A. Ballotti, president and chief executive officer. “New COVID variants did not impact our domestic, drive-to leisure travel business and consumer demand portends a very busy Spring Break for our franchisees. We enter 2022 with strong occupancy trends in the U.S., our largest ever development pipeline and a multitude of new technology services and marketing programs to enhance our franchisees’ top and bottom lines. In addition, our Board authorized a quarterly dividend of $0.32 per share and increased our share repurchase authorization, which reflects the ongoing strength of the business and our strong free cash flow.”
Fourth Quarter 2021 Operating Results Fee-related and other revenues increased 43% to $314 million primarily reflecting strong ADR growth in the U.S., which drove fourth quarter U.S. RevPAR 9% above 2019 levels.
The Company generated net income of $48 million, or $0.52 per diluted share, an increase of $55 million, or $0.60 per diluted share, reflecting an increase in adjusted EBITDA and lower net interest expense. Adjusted EBITDA for the quarter was $131 million, an increase of 126% versus 2020. The increase of $73 million reflects the increase in fee-related and other revenues and lower excess marketing spend, partially offset by higher volume-related expenses due to the ongoing recovery in travel demand.
During the fourth quarter 2021, the Company’s marketing fund expenses exceeded revenues by $8 million; while in fourth quarter 2020, the Company’s marketing fund expenses exceeded revenues by $26 million.
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 180 basis points, reflecting 70 basis points of growth in the U.S. and 350 basis points of 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 5% and 15%, respectively. Fourth quarter room openings recovered to 97% of 2019 levels globally reflecting a 21% increase in domestic additions. The Company also achieved its goal of a 95% retention rate for the full year 2021.
RevPAR
Global and international RevPAR began to lap the onset of the COVID-19 pandemic in January 2021, while the U.S. began to lap its onset in March 2021. As such, comparisons to 2019 (on a two-year, constant currency basis) are more meaningful when evaluating trends. On this basis, fourth quarter RevPAR in the U.S. exceeded 2019 levels by 9% while international RevPAR declined 19%. Global RevPAR recovered to 100% of 2019 levels. The 9% increase in the U.S. is primarily due to pricing power where average daily rate exceeded 2019 levels by 8%. The 19% international decline demonstrates sequential progress from a 25% decline in third quarter.
Fourth Quarter 2021 Business Segment Discussion
Hotel Franchising revenues increased 34% year-over-year to $270 million primarily due to the global RevPAR increase. Hotel Franchising adjusted EBITDA increased 66% to $128 million reflecting the growth in revenues and lower excess marketing spend, partially offset by higher volume-related expenses.
Hotel Management revenues increased 30% year-over-year to $122 million, including a $2 million increase in cost-reimbursement revenues, which have no impact on adjusted EBITDA. Absent cost-reimbursements, Hotel Management revenues increased $26 million, or 144%, to $44 million primarily due to the global RevPAR increase, as well as improved performance at the Company’s owned hotels. Hotel Management adjusted EBITDA increased $20 million year-over-year reflecting the revenue increases, partially offset by higher volume-related expenses.
Full-Year 2021 Operating Results Fee-related and other revenues increased 31% to $1,245 million primarily reflecting the recovery in travel demand and its impact on global RevPAR, as well as 2% growth in the Company’s global system size. Global RevPAR recovered to 88% of 2019 levels on a constant currency basis, including domestic RevPAR at 97% of 2019 levels.
The Company generated net income of $244 million, or $2.60 per diluted share, compared to net loss of $132 million, or $1.42 loss per diluted share, for the full-year 2020. Adjusted EBITDA for the full-year was $590 million, an increase of 76% versus 2020. The increase of $254 million in adjusted EBITDA primarily reflects the increase in fee-related and other revenues and marketing fund favorability, partially offset by higher volume-related expenses due to the recovery in travel demand throughout the year. The increase of $376 million, or $4.02 per diluted share, in net income reflects a further decline in after-tax special-item charges and lower net interest expense.
During full-year 2021, the Company’s marketing fund revenues exceeded expenses by $18 million; while in full-year 2020, the Company’s marketing fund expenses exceeded revenues by $49 million.
Development The Company awarded 655 new contracts this year. On December 31, 2021, the Company’s global development pipeline consisted of over 1,500 hotels and over 194,000 rooms, the highest level on record. The pipeline grew 5% year-over-year, including 3% domestically and 6% internationally. Approximately 65% of the Company’s development pipeline is international and 79% is new construction, of which approximately 35% has broken ground. Over 80% of the global development pipeline is in the midscale and above segments, including over 70% in the U.S.
Cash and Liquidity The Company generated $426 million of net cash provided by operating activities in the full-year 2021, compared to $67 million in 2020 and $100 million in 2019. The Company generated $389 million of free cash flow in the full-year 2021, which includes a benefit from the collection of prior year receivables that were outsized due to COVID deferrals.
At December 31, 2021, the Company had $171 million of cash on its balance sheet and over $900 million in total liquidity. The Company’s net debt leverage ratio was 3.2 times at December 31, 2021, within the Company’s 3 to 4 times stated target range, compared to 3.3 times at December 31, 2019.
Share Repurchases and Dividends During the fourth quarter of 2021, the Company repurchased approximately 994,000 shares of its common stock for $83 million at an average price of $83.42 per share. For the full-year 2021, the Company repurchased approximately 1.4 million shares of its common stock for $110 million at an average price of $80.60 per share. The Company’s Board of Directors recently increased the Company’s share repurchase authorization by $400 million.
The Company paid common stock dividends of $29 million, or $0.32 per share, in the fourth quarter of 2021 for a total of $82 million, or $0.88 per share, for the full-year 2021. The Company’s Board of Directors recently authorized a quarterly cash dividend of $0.32 per share of common stock beginning with the dividend that is expected to be declared in the first quarter of 2022.
Potential Sale of Owned Hotels During the fourth quarter of 2021, the Company decided to pursue the sale of its two owned hotels. As of December 31, 2021, the assets and liabilities of these owned hotels were reported in assets held for sale and liabilities held for sale on the Consolidated Balance Sheet. As a result of the plan to sell these owned hotels, in the fourth quarter of 2021, the Company recorded a non-cash impairment charge of $6 million to reflect the expected value upon potential sale.
Full-Year 2022 Outlook The Company provided the following outlook for full-year 2022:
Net rooms growth of 2% to 4%.
RevPAR growth of 12% to 16% versus 2021, which is consistent with 2019 levels.
Fee-related and other revenues of $1.34 billion to $1.37 billion, a year-over-year increase of 8% to 10%.
Adjusted EBITDA of $605 million to $625 million, which is consistent with 2019 levels, and reflects a year-over-year increase of 3% to 6%.
Adjusted net income of $308 million to $320 million, which is consistent with 2019 levels, and reflects a year-over-year increase of 4% to 8%.
Adjusted diluted EPS of $3.28 to $3.40, based on a diluted share count of 93.9 million that excludes any share repurchases after December 31, 2021. Reflects growth up to 4% compared to 2019, and a year-over-year increase of 4% to 8%.
Free cash flow conversion from adjusted EBITDA of approximately 55%.
The Company views its growth in adjusted EBITDA compared to 2021 and 2019 as follows (in millions):
(a) Does not include any impact from the planned sale of the Company’s two owned hotels.
(b) Net income was $244 million and $157 million for the years ended December 31, 2021 and 2019, respectively. Reconciliation can be found in the Table 7.
(c) In 2022, the expected termination payment of $84 million will be fully offset by the non-cash write-off of the related management contract intangible asset, as previously communicated. In 2021, includes (i) the effects of CorePoint’s prior asset dispositions, including $2 million of operational EBITDA and $19 million of termination fees and (ii) $4 million of operational EBITDA generated from assets yet to be sold. In 2019, includes (i) the effects of CorePoint’s prior asset dispositions, including $12 million of operational EBITDA and $7 million of termination fees and (ii) $9 million of operational EBITDA generated from assets yet to be sold.
(d) Primarily represents license fees paid by Travel + Leisure, the recovery of which is correlated to the recovery of vacation ownership sales at Travel + Leisure. This projection is based on internal estimates and will be updated as appropriate when Travel + Leisure provides an estimated vacation ownership interest sales projection for 2022.
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, February 16, 2022 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 866 831-8713 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, 2022. A telephone replay will be available for approximately ten days beginning at noon ET on February 16, 2022 at 800 723-0479.
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 9,000 hotels across approximately 95 countries on six continents. Through its network of over 810,000 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 22 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services. The Company’s award-winning Wyndham Rewards loyalty program offers over 92 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; risks related to the Company’s relationship with CorePoint Lodging, Inc. (“CorePoint”) and the Company’s relationship with Highgate Holdings, Inc. and certain of its affiliates or subsidiaries following the closing of CorePoint’s sale; 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.
