LONDON (29 August 2023) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels in more than 95 countries, today announced the opening of the 60-room Wyndham Grand Krakow Old Town, the first Wyndham Grand in Poland. The hotel – which will be operated by Dobry Hotel Group, a leading hotel management company in Poland with decades of experience – is housed in a stunning, historic townhouse right in the heart of Krakow Old Town, close to many iconic landmarks like the Cloth Hall, Market Square, St. Mary’s Basilica, and other popular attractions.
Wyndham Grand is an upper-upscale ensemble of distinguished hotels that are approachable by design, representing one-of-a-kind experiences with refined accommodations, attentive service and relaxed surroundings. The opening of Wyndham Grand Krakow Old Town adds another desirable destination to the brand’s roster, including Manama, Istanbul, Athens and many others – and in Poland, adds Wyndham’s eighth hotel across cities including Warsaw, Lodz, Wroclaw and Krakow.
Dimitris Manikis, President Europe, Middle East, Eurasia and Africa, Wyndham Hotels & Resorts, said: “Our distinctive Wyndham Grand brand represents best-in class hospitality, and the opening of Wyndham Grand Krakow Old Town is a welcomed addition to our presence in Poland, while also marking an important step in our expansion plans for the country. Dobry Hotel Group is one of the top hospitality operators in the country who shares our vision for growth, making them the ideal partner to bring the Wyndham Grand brand to Poland.”
Daniel Łukaszewicz, Managing Director of Dobry Hotel Group, commented: “We are thrilled to open the first Wyndham Grand in Poland with the support of Wyndham Hotels & Resorts, the world’s largest hotel franchisor. Situated in the former royal capital, guests staying at the Wyndham Grand Krakow Old Town can enjoy the spectacular Renaissance architecture and medieval city centre. We look forward to welcoming business and leisure travellers from around the world for unforgettable stays and experiences.”
Located only 13 kilometres from Krakow Airport and just one kilometre from Krakow Main Station, Wyndham Grand Krakow Old Town offers guests an exceptional juxtaposition between a historic cultural backdrop and modern getaway experience with contemporary comforts and high-end amenities. After a day exploring the Gothic architecture and charming cobblestone streets, guests can indulge in the hotel’s relaxing wellness zone that features a heated indoor pool, a fitness centre, and spa with a sauna, hot tub, and even a salt cave. Guests can also enjoy dining at two fantastic on-site restaurants serving exquisite Italian and international cuisine, and for those staying for business, the hotel also features a well-equipped executive centre and two versatile meeting rooms that can accommodate up to 150 guests.
About Wyndham Grand Travel is the best excuse to enjoy the grand things in life. With locations in some of the world’s most sought-after vacation destinations – including Istanbul, Doha, Salzburg and Orlando – Wyndham Grand hotels transform ordinary moments into unforgettable experiences. Approachable by design, this upper-upscale hotel brand helps travellers make every moment count. Learn more at www.wyndhamgrand.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 852,000 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 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 programme offers over 103 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit wyndhamhotels.com/en-uk.
About Dobry Hotel Group Dobry Hotel Group has been operating in Poland for nearly 20 years. It is an expert in the management of hotel and catering facilities. Its portfolio currently includes 20 hotels in attractive tourist and business regions and cities in Poland, such as Jastarnia, Mikolajki, Poznan, Wroclaw, Warsaw, Krakow and Zakopane. The Group’s hotels are winners of prestigious awards and industry distinctions. Dobry Hotel Group employs more than a thousand people.
Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements related to Wyndham Hotels & Resorts, Inc.’s (the “Company”) current views and expectations related to rooms growth, development and consumer demand trends. 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, except as required by law.
Company Grows Development Pipeline by 10% and Global RevPAR by 7% Successfully Completes Refinancing Transaction Board Increases Share Repurchase Authorization by $400 Million
PARSIPPANY, N.J. (July 26, 2023) – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended June 30, 2023. Highlights include:
Global RevPAR grew 7% compared to second quarter 2022 in constant currency.
System-wide rooms grew 4% year-over-year.
Development pipeline grew 1% sequentially and 10% year-over-year.
Signings of 24,000 rooms grew 6% year-over-year and 7% compared to 2019.
Awarded 60 new construction projects for ECHO Suites Extended Stay by Wyndham in July, including its first hotels in Canada, bringing the total number of contracts to 265.
Returned $139 million to shareholders through $109 million of share repurchases and a quarterly cash dividend of $0.35 per share.
Successfully completed the refinancing of its Term Loan B Facility, extending maturity from 2025 to 2030.
“During the second quarter, we celebrated the tremendous progress we’ve made in our five-year journey as a new public company with another quarter of solid results including global RevPAR growth of 7%, net room growth of 4% and the 12th consecutive quarter of sequential growth in our development pipeline, which has never been stronger,” said Geoff Ballotti, president and chief executive officer. “International travel demand continues to accelerate, our U.S. economy brands continue to outperform the industry and our nation’s infrastructure bill spend is expected to represent a meaningful tailwind for our franchisees in the months and years ahead. We remain very confident in our ability to deliver outstanding value for our franchisees and shareholders, as does our Board of Directors who today approved a $400 million increase in our share repurchase authorization, reflecting their confidence in the ongoing strength of our business and our strong free cash flow.”
Second Quarter Financial Results
The comparability of the Company’s second quarter results is impacted by the sale of its owned hotels and the exit of its select-service management business, both of which occurred in 2022, as well as quarterly timing variances from its marketing funds. The Company’s reported results and comparable-basis results (adjusted to neutralize these impacts) are presented below to enhance transparency and provide a better understanding of the results of the Company’s ongoing operations:
Fee-related and other revenues was $358 million compared to $354 million in second quarter 2022, which included $12 million from the Company’s select-service management business and owned hotels. On a comparable basis, fee-related and other revenues increased 5% year-over-year primarily reflecting higher royalties and franchise fees resulting from global RevPAR and system growth.
The Company generated net income of $70 million, or $0.82 per diluted share, compared to $92 million, or $1.00 per diluted share, in second quarter 2022. The decline in net income was expected and reflective of the marketing fund variability, higher interest expense and transaction-related costs primarily related to the Company’s refinancing of its Term Loan B Facility. On a comparable basis, adjusted diluted earnings per share grew 10% reflecting 8% growth in comparable basis adjusted EBITDA and a lower share count due to share repurchase activity.
Adjusted EBITDA was $158 million compared to $175 million in second quarter 2022. On a comparable basis, adjusted EBITDA increased 8% year-over-year primarily reflecting higher fee-related and other revenues.
During second quarter 2023, the Company’s marketing fund expenses exceeded revenues by $15 million; while in second quarter 2022, the Company’s marketing fund revenues exceeded expenses by $12 million, resulting in $27 million of marketing fund variability.
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 13%, respectively, as well as 80 basis points of growth globally and 200 basis points internationally from the acquisition of the Vienna House brand. The Company remains solidly on track to achieve its net room growth outlook of 2 to 4% for the full year 2023, including an increase in its retention rate compared to 2022.
RevPAR
Second quarter global RevPAR grew by 7% in constant currency compared to 2022 reflecting a 1% decline in the U.S. and growth of 34% internationally. The Company had achieved record-breaking RevPAR in the U.S. during the preceding year due to COVID-impacted travel patterns. Comparing to 2019 to neutralize for these impacts, U.S. RevPAR grew 8%, a 30 basis point acceleration from first quarter 2023 growth. The international RevPAR growth was driven equally by stronger pricing power and higher occupancy levels.
Development
On June 30, 2023, the Company’s global development pipeline consisted of nearly 1,850 hotels and approximately 228,000 rooms, representing a 10% year-over-year increase, including 22% growth in the U.S.
Approximately 72% of the Company’s pipeline is in the midscale and above segments.
Approximately 57% of the Company’s development pipeline is international.
Approximately 81% of the Company’s pipeline is new construction, of which approximately 35% has broken ground.
During second quarter 2023, the Company awarded 179 new contracts for its legacy brands, an increase of 8% year-over-year. In July, the Company awarded 60 additional new contracts for its ECHO Suites Extended Stay by Wyndham brand to established and experienced developers, including what will be the brand’s first hotels in Canada. This brings the total number of contracts awarded for the brand to 265 since its launch, or nearly 33,000 rooms.
Cash and Liquidity
The Company generated net cash provided by operating activities of $83 million and free cash flow of $74 million in second quarter 2023. The Company ended the quarter with a cash balance of $63 million and approximately $800 million in total liquidity.
In May 2023, the Company successfully amended and extended its outstanding Senior Secured Term Loan B Facility (“Prior Term Loan B”), which was due May 2025. The new $1.1 billion Senior Secured Term Loan B Facility (“New Term Loan B”) matures in May 2030 and carries an interest rate of SOFR plus 2.25% (with a 0.10% credit spread adjustment). The net proceeds from the New Term Loan B were used to repay all outstanding principal under the Company’s Prior Term Loan B.
As a result of this transaction, the Company moved its next material debt maturity to 2027 and increased its weighted average maturity from 3.2 to 6.0 years, providing significant financial flexibility to execute on the Company’s strategic objectives of delivering outstanding value to its guests and franchisees while driving strong shareholder return.
Share Repurchases and Dividends
During the second quarter, the Company repurchased approximately 1.6 million shares of its common stock for $109 million at an average price of $68.56 per share. Year-to-date through June 30, the Company repurchased approximately 2.4 million shares of its common stock for $165 million at an average price of $69.20 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 $30 million, or $0.35 per share.
Full-Year 2023 Outlook
The Company is refining its outlook as follows:
The reduction in adjusted net income represents an increase in interest expense due, in part, to the refinancing of the Company’s Term Loan B. This impact was offset in adjusted diluted EPS by second quarter share repurchase activity.
Year-over-year growth rates are not comparable due to the sale of the Company’s owned hotels and the exit of its select-service management business, both of which occurred during 2022, as well as the variability in its marketing funds due to the support that the Company provided to its owners during 2020.
The Company’s expectations for full-year 2023 marketing funds contribution to adjusted EBITDA is unchanged at $10 million. The Company expects fund revenues will outpace fund expenses by $29 million in the second half of 2023 with approximately $10 million to $15 million per quarter.
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, July 27, 2023 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 800 267-6316 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 July 27, 2023. A telephone replay will be available for approximately ten days beginning at noon ET on July 27, 2023 at 800 839-5124.
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 852,000 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 103 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. The Company claims the protection of the Safe Harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements. 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, except as required by law.
Super 8, the stylish economy brand known for its roadside hotels, expanding
global footprint with upcoming opening of Super 8 by Wyndham Chester East
LONDON, (July 10, 2023) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels spanning more than 95 countries and Roadchef, one of the UK’s leading motorway service area operators welcoming 52 million visitors each year, today announced the upcoming opening of Super 8 by Wyndham Chester East, the brand’s first entry in the UK.
For nearly 50 years, Super 8 by Wyndham has been recognised as a trusted companion to roadside travellers. With nearly 2,700 hotels around the world—including the U.S., China, Dominican Republic, Indonesia, Germany, UAE, Saudi Arabia and soon in the UK—Super 8 is known for elevating the economy hotel experience, offering sleek accommodations and friendly service at an affordable price.
Expected to open this month following an extensive refurbishment project, the 41-room hotel is conveniently located just off the M56 motorway, serving road travellers around the Cheshire, Greater Manchester and North Wales areas of the UK. The refurbishment is part of a larger multi-million investment by Roadchef as it looks to upgrade its roadside hotels across the UK to better meet the needs of guests now and in the future.
Dimitris Manikis, President Europe, Middle East, Eurasia and Africaat Wyndham Hotels & Resorts said: “Today’s travellers want a quality experience but at an affordable price, which is exactly what Super 8 by Wyndham offers. It’s a brand that’s all about embracing the journey, helping guests rest up, refuel and tackle the open road ahead. For that reason, Roadchef—a company known for leveraging innovation placing convenience and comfort at the heart of their business—is the perfect partner to help us bring Super 8 by Wyndham to the UK.”
Dan Sutton, Head of Hotels at Roadchef, commented: “Our long-term vision is to transform the way people experience road travel and roadside hotels. Business and leisure travellers alike seek convenience, comfort, and affordability, and we believe hoteliers need to cater to these modern-day guests and their evolving expectations. Launching Super 8 by Wyndham in the UK is a step towards elevating and revolutionising the roadside hotel experience and we are proud to be a part of this transformation and continue to invest in delighting our guests.”
Convenience and Comfort for Every Guest Super 8 by Wyndham Chester East is expected to open this month following a major refurbishment project, which kicked off earlier this year. Influenced by the look and feel of new Super 8 hotels throughout North America and Europe with sleek furnishings and signature artwork, Roadchef conducted research on UK travellers’ preferences, which influenced the hotel’s design. Among the findings, respondents highlighted a strong desire for enhanced convenience, greater choice and flexibility of experience as well as a growing need for well-considered electric vehicle charging options to suit an overnight stay rather than a short high-powered ‘top up’ whilst mid-journey.
Super 8 by Wyndham Chester East will offer a variety of room types designed with comfort and noise-reduction in-mind, providing guests with a home-away-from-home experience. The hotel will offer a mix of contemporary rooms to easily suit families, groups, couples or individuals, as well as two-bedroom accommodations with lounge areas and king bedrooms, in addition to standard double, twin and king guest rooms. The hotel will also provide the latest in-room tech, a stylish bar and restaurant, as well as on-site EV charging facilities, allowing guests to charge their vehicles overnight at an inclusive, affordable price. Whether for a short stay, a business trip or weekend away with friends, Super 8 by Wyndham Chester East will be a reliable roadside companion to suit any traveller’s needs.
In line with both Roadchef’s and Wyndham’s commitments to protecting the environment, Super 8 by Wyndham Chester East will participate in the Wyndham Green Certification programme, Wyndham’s five-level certification framework and brand standard that helps hotels to improve their energy efficiency, reduce emissions, conserve water, and reduce waste whilst also helping owners’ bottom lines.
Super 8 by Wyndham Chester East is part of Wyndham Hotels & Resorts’ portfolio of over 65 hotels across the UK, all of which participate in Wyndham Rewards®, the award-winning hotel rewards programme offering approximately 101 million enrolled members the opportunity to redeem points at more than 50,000 hotels, vacation club resorts and vacation rentals around the world.
About Super 8 by Wyndham For more than four decades, Super 8® by Wyndham—one of the world’s largest economy hotel brands with nearly 2,700 hotels globally—has served as a trusted and convenient companion on the road. Today, we’re on a mission to elevate economy, modernizing the brand for the next generation of traveller with redesigned rooms and fast, free Wi-Fi. Learn more www.super8.com. Like us on Facebook and follow us on Instagram. See you on the Road.
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 845,000 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 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 programme offers approximately 101 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 Roadchef Roadchef is one of the UK’s leading motorway and trunk road service area operators. With 30 locations across the nation, including 17 hotels within a longstanding partnership with Wyndham Hotels & Resorts. Roadchef aims to provide a restful and relaxing environment for over 52 million visitors to its motorway service areas each year, employing over 3,000 people across its locations and boasting an outstanding employee retention record.
In 2023, it achieved Platinum level of the Investors in People (IIP) accreditation – the highest accolade that can be achieved against the Investors in People Standard, held by just 6% of the 50,000 IIP-accredited organisations across the world. It was also recently awarded a 2 Star Accreditation from the Best Companies employee engagement survey representing outstanding commitments to workplace engagement. Popular brands located at Roadchef include McDonald’s, Costa, LEON, WHSmith, SPAR, Chozen Noodle, Coco di Mama, Days Inn by Wyndham and Super 8 by Wyndham. In addition, Roadchef’s own branded offerings include Garden Square Deli and Fresh Food Café.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements related to Wyndham Hotels & Resorts, Inc.’s (the “Company”) current views and expectations related to rooms growth, development and consumer demand trends. 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, except as required by law.
The addition of Istanbul New Airport Hotel, Trademark Collection by Wyndham,
builds on Wyndham’s position as the largest international hotel company in Türkiye
ISTANBUL, (12 June 2023) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels spanning more than 95 countries, today announced the opening of the 68-room Istanbul New Airport Hotel, its first Trademark Collection by Wyndham hotel in Türkiye. The newly opened hotel adds to Wyndham’s standing as the largest international hotel company in Türkiye with more than 95 hotels open and operating and more than 20 under development.
Trademark Collection by Wyndham is designed for travellers seeking distinctive accommodations in sought-after destinations with each hotel maintaining its own unique attributes. The brand caters to independently minded owners eager to leverage Wyndham’s industry-leading scale alongside its world-class marketing, technology and distribution capabilities. Since its launch in 2017, the brand now has more than 185 hotels in top destinations like New York, Berlin, Athens, Budapest, Brussels and others.
Murat Özel, Country Director of Türkiye, Wyndham Hotels & Resorts, said: “Trademark Collection by Wyndham celebrates the individuality and unique vision of entrepreneurs who want to make their mark in hospitality with the support of the world’s largest hotel franchisor. There is tremendous opportunity for midscale and upscale hotels in Türkiye and this new opening in Istanbul, one of the world’s most popular cities, reinforces the brand’s global footprint and our commitment to our continued expansion in the country.”
Located in in the fast-growing Arnavutkoy district, 12 km from Istanbul Airport and with easy access to the nearby Mall of Istanbul and the Vialand Theme Park, Istanbul New Airport Hotel, Trademark Collection by Wyndham is a new construction hotel featuring an on-site restaurant, business centre, concierge and other amenities. Rooms are stylish and cozy, feature an array of modern amenities are available in standard, deluxe and suite configurations.
Wyndham hotels in Türkiye and around the world participate in Wyndham Rewards®, the award-winning hotel loyalty programme offering approximately 101 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally.
For additional details on Trademark Collection by Wyndham, as well as franchising opportunities with Wyndham Hotels & Resorts, visit www.whrdevelopmentemea.com
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 travellers 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 approximately 9,100 hotels across over 95 countries on six continents. Through its network of approximately 845,000 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 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 programme offers approximately 101 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 Wyndham Hotels & Resorts, Inc.’s (the “Company”) current views and expectations related to rooms growth, development and consumer demand trends. 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, except as required by law.
Luxury resort on Greece’s dazzling Halkidiki peninsula marks
latest addition to Wyndham’s prestigious portfolio in Europe
LONDON – (June 1, 2023) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels spanning more than 95 countries, today announced the opening of the Ajul Luxury Hotel & Spa Resort, its first Registry Collection Hotel in Europe. The 171-room, 5-star resort is located in Halkidiki, one of Greece’s most sought-after destinations known for its pristine beaches, Mediterranean forests and unique views of the Aegean Sea and Mount Olympus.
Handpicked to deliver incredible experiences in spectacular destinations, Registry Collection Hotels combine individuality with thoughtful design and world-class service. From unique architectural details to dream-worthy locations, every stay with Registry Collection Hotels is meant to be as unique and indulgent as the hotels themselves. The Ajul Luxury Hotel & Spa Resort—owned and operated by Zeus International Hotels & Resorts—is the latest impressive addition to a portfolio of 16 Registry Collection properties across Mexico, Panama, Brazil, Dominican Republic and Jamaica.
Dimitris Manikis, President EMEA, Wyndham Hotels & Resorts, commented: “Expanding Registry Collection Hotels to Europe enables us to further diversify our offering, giving our guests access to even more travel experiences and incredible destinations around the world. Zeus International Hotels & Resorts is a like-minded partner with many years of experience welcoming visitors and growing brands across Europe. Introducing the brand with them in Halkidiki, a renowned hotspot for its impressive nature, coastline, and culture, makes this launch even more special.”
The latest opening of the outstanding Ajul Luxury Hotel & Spa Resort also builds on Wyndham Hotels & Resorts’ longstanding collaboration with Zeus International Hotels & Resorts, currently covering 10 hotels in three countries, under the Wyndham, Wyndham Grand, Ramada, Dolce and Trademark Collection by Wyndham brands, and now Registry Collection Hotels. Zeus International owns and manages an additional 12 hotels spanning Greece, Romania, and Italy.
An Opulent Seafront Retreat Ajul Luxury Hotel & Spa Resort, a Registry Collection Hotel is a stunning, beachfront hotel offering 171 luxurious rooms up to 85sqm, including 26 high-end private villas up to 580sqm and 92 exceptional bungalows up to 135sqm, most with private pools and all with breathtaking sea-views. The hotel offers five extraordinary swimming pools as well as access to nearby heavenly pebble beach. Built in an alluring setting of forests, where the natural tranquility and the traditional natural elements are prominent, guests can immerse themselves in the serene ambiance with leisurely strolls through the hotel’s lush gardens, which gracefully descend towards the tranquil waters of Agia Paraskeui. The hotel offers a unique culinary journey of local Greek, Italian and Mediterranean cuisine through its three restaurants that are supplied with fresh local fruits, vegetables, and herbs, as well as premium beverages, signature cocktails and carefully selected wines at its three bars.
A nod to the great therapeutic tradition of the region, guests can also enjoy a one-of-a-kind designed Spa Center featuring an impressive outdoor pool and fantastic views, along with wellness classes on special decks by the beach. Ajul Luxury Hotel & Spa Resort also provides more adventurous guests two tennis courts, a basketball court and a beach volleyball court, as well as an adventure park and other great outdoor activities, making it the ideal luxury hideout for those seeking a stunning coastal getaway. Ajul Luxury Hotel & Spa Resort offers over 600sqm of venue space to host glamourous events and top-tier conferences, making it also an exceptional choice for guests in pursuit of the perfect venue for such occasions.
Haris Siganos, President and CEO of Zeus International Hotels & Resorts, added: “Opening the first luxury resort under Registry Collection Hotels in Europe is testament to Zeus International Hotels & Resorts’ commitment to innovating our offering and providing outstanding hospitality to our guests, in Greece and abroad. Our fruitful and growing collaboration with Wyndham enables us to maintain the unique individuality of the Ajul Luxury Hotel & Spa Resort, while opening its doors to travellers from all around the world.”
Wyndham hotels in Greece and around the world participate in Wyndham Rewards®, the award-winning hotel rewards programme offering approximately 101 million enrolled members the opportunity to redeem points at more than 50,000 hotels, vacation club resorts and vacation rentals around the world.
For more information about Ajul Luxury Hotel & Spa Resort, a Registry Collection Hotel visit www.registrycollectionhotels.com For additional details on franchising opportunities with Wyndham Hotels & Resorts, visit www.whrdevelopmentemea.com.
About Registry Collection Hotels Get lost in your travels and let Registry Collection Hotels meet you there. With thoughtful design, brilliant service and unsurpassed attention to detail, our handpicked hotels and resorts deliver incredible experiences in spectacular destinations around the world. Book your next stay at www.registrycollectionhotels.com or visit www.whrdevelopmentemea.com to learn more about how we’re elevating individuality for independent-minded luxury hotel owners and developers around the world. Registry Collection Hotels are affiliated with but separate from The Registry Collection, the world’s largest luxury exchange programme.
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 845,000 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 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 programme offers approximately 101 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 Zeus International Hotels & Resorts Zeus International Hotels and Resorts is dedicated in creating exceptional destinations and unique experiences promoting authentic Greek hospitality since 2014.
In each one of 22 Zeus International Hotels & Resorts in Eastern Europe, the company’s philosophy and passion evolve around providing premium-quality, luxurious services that are welcoming and unpretentious. They are committed to delivering a memorable experience to every guest. This hospitality wonderland is adapted to 21st century needs and offers options for all types of modern-day travellers, families and couples, business travellers, city wanderers, relaxation, or adventure seekers.
Your home away from home can be found in city centre, urban or artistic hotel, in a suburban luxury resort or in a holistic wellness Spa resort by the sea or among mountaintops. Whether you choose to travel within Greece, Italy, Romania, or Cyprus you will enjoy memorable experiences inspired by the culture of each destination and under our philosophy of creating never-to-be-forgotten authentic relations with our guests. Find out more here.
Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements related to Wyndham Hotels & Resorts, Inc.’s (the “Company”) current views and expectations related to rooms growth, development and consumer demand trends. 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, except as required by law.
Company Raises Full-Year 2022 Outlook and Grows Global Development Pipeline by 9% to a Record 208,000 Rooms
PARSIPPANY, N.J., July 26, 2022 – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended June 30, 2022. Highlights include:
Global RevPAR grew 23% compared to second quarter 2021 in constant currency.
System-wide rooms grew 3% year-over-year, including 2% of growth in the U.S. and 4% of growth internationally.
Hotel Franchising segment revenues grew 18% year-over-year.
Diluted earnings per share of $1.00 and adjusted diluted earnings per share of $1.07.
Net income of $92 million and adjusted net income of $99 million .
Adjusted EBITDA of $175 million.
Year-to-date net cash provided by operating activities of $242 million and free cash flow of $224 million.
Domestic development signings increased 77%, including 22 new construction projects for the Company’s new extended-stay brand, bringing the total number to 72 since launch in March.
Completed the sale of the Wyndham Grand Rio Mar Resort.
Returned $171 million to shareholders through $142 million of share repurchases and a quarterly cash dividend of $0.32 per share.
Company raises full-year 2022 outlook.
“We kicked off our high-demand summer season with the strongest Memorial Day we’ve ever experienced, as guests traveled further, stayed longer and spent more at our hotels than they did pre-pandemic,” said Geoffrey A. Ballotti, president and chief executive officer. “Our business experienced another strong quarter performing above both last year and 2019 as international recovery accelerated and our development teams grew our pipeline to a record level. Our second quarter results once again demonstrated the strength and durability of our business model and we are well on track to deliver on our 2022 commitments.”
Fee-related and other revenues increased 10% year-over-year to $354 million as the impact from the increase of global RevPAR and higher license fees were partially offset by a $21 million impact from the sale of the Company’s owned hotels and the exit of its select-service management business.
The Company generated net income of $92 million, or $1.00 per diluted share, an increase of $24 million, or $0.27 per diluted share, reflecting higher adjusted EBITDA, lower depreciation and amortization expense due to the sale of the Company’s owned hotels and lower expenses associated with the early extinguishment of debt. Adjusted EBITDA increased $7 million, or 4%, versus 2021 to $175 million reflecting the revenue growth, which was partially offset by an $8 million impact from the sale of the Company’s owned hotels and the exit of its select-service management business as well as a $2 million 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 3%, reflecting 2% growth in the U.S. and 4% 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 7% 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
Second quarter RevPAR grew 23% globally in constant currency, including 15% growth in the U.S. and 59% growth internationally. The increase is approximately 80% driven by stronger pricing power and 20% driven by higher occupancy levels.
Business Segment Discussion
Hotel Franchising revenues increased 18% year-over-year to $335 million primarily due to the global RevPAR increase and higher license and other fees. Hotel Franchising adjusted EBITDA increased 11% to $185 million reflecting the growth in revenues, partially offset by a 340 basis point unfavorable timing impact from the marketing fund.
Hotel Management revenues decreased 59% year-over-year to $51 million, including a $53 million decrease in cost-reimbursement revenues, which have no impact on adjusted EBITDA. Absent cost-reimbursements, Hotel Management revenues decreased $19 million, or 50%, to $19 million due to the sale of the Company’s owned hotels and the exit of its select-service management business. Hotel Management adjusted EBITDA decreased $10 million year-over-year reflecting the same.
Development
The Company awarded 187 new contracts this quarter compared to 154 in the second quarter 2021. On June 30, 2022, the Company’s global development pipeline consisted of approximately 1,600 hotels and approximately 208,000 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 17% domestically and 5% internationally. Approximately 62% of the Company’s development pipeline is international and 78% is new construction, of which approximately 36% has broken ground.
Sale of Owned Hotel
On May 24, 2022, the Company completed the sale of the Wyndham Grand Rio Mar Resort in Puerto Rico for gross proceeds of approximately $62 million. There was no gain or loss on the sale as the proceeds approximated adjusted net book value. The Company entered into a 20-year franchise agreement with the buyer.
Cash and Liquidity
The Company generated $242 million of net cash provided by operating activities year-to-date and $224 million of free cash flow. The Company ended the quarter with a cash balance of $400 million and approximately $1.1 billion in total liquidity.
Share Repurchases and Dividends
During the second quarter, the Company repurchased approximately 1.9 million shares of its common stock for $142 million. The Company also paid common stock dividends of $29 million, or $0.32 per share, in the second quarter.
Full-Year 2022 Outlook
The Company is increasing its outlook as follows to reflect future projections related to the Company’s license fees from Travel & Leisure based on their full-year 2022 Gross VOI Sales outlook provided on April 28, 2022 as well as the impact of second quarter share repurchase activity:
(a) 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, July 27, 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 888 632-3382 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 July 27, 2022. A telephone replay will be available for approximately ten days beginning at noon ET on July 27, 2022 at 800 925-9942.
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 over 95 countries on six continents. Through its network of approximately 819,000 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 over 95 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.
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.
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.
PARSIPPANY, N.J., January 10, 2022 – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,000 hotels across nearly 95 countries, continues to expand its global footprint with its entry into Poland with the 205-room upscale Wyndham Wroclaw Old Town. Managed by Mogotel Hotel Group, a leading hotel operator in the Baltics, the property is expected to open early next month and will be located in the heart of Wroclaw’s city center.
One of the largest cities in Western Poland and home to many renowned universities and research centers, Wroclaw combines rich history and charming architecture with a lively cultural scene across its museums, theatres, art galleries and workshops. Perfectly positioned for exploring the central, picturesque Old Town with many attractions and landmarks, the hotel will feature stylish guest rooms, an expansive atrium and a top floor wellness area, with a state of the art fitness room, sauna and steam bath.
The hotel will offer a wide range of food and beverage outlets including a gourmet restaurant, a cozy lounge and bar to relax and socialize. Those traveling for business will also have access the hotel’s 11 meeting rooms, which accommodate a total capacity of over 400 attendees. In addition, the hotel is conveniently located just 10 miles from Wroclaw’s International Copernicus Airport.
Wyndham Wroclaw Old Town is the latest addition in Wyndham Hotels & Resorts growing portfolio in Europe, including over 350 operational hotels across 30 countries and a development pipeline of over 90 properties.
Christian Michel, Vice President Development Europe, Wyndham Hotels & Resorts EMEA, said: “We are delighted to be launching our first hotel in Poland with our upscale Wyndham brand in collaboration with Mogotel. Poland is a country with strong development potential and a plethora of destinations that attract and suit different types of travelers. With favorable economic conditions and a large domestic demand, Poland brings exciting opportunities for our industry and perfectly fits our growth strategy for Europe.”
Ivans Dokicans, Head of Development & Board Member of Mogotel Hotel Group,commented: “Wroclaw is a beautiful and historic city and we are proud to debut the Wyndham brand in the city. Wyndham Wroclaw Old Town will mark our second property in collaboration with Wyndham Hotels & Resorts following the opening of Wyndham Garden Munich Messe in Germany and we look forward to the continuation of our fruitful partnership.”
Wyndham hotels in Poland and around the world participate in Wyndham Rewards, the world’s most generous hotel rewards program with more than 50,000 hotels, vacation club resorts and vacation rentals worldwide.
About 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 nearly 95 countries on six continents. Through its network of approximately 803,000 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 90 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 Mogotel Hotel Group Mogotel Hotel Group is a leading hotel operator in the Baltic States, operating in the hospitality and tourism industry since 2002. The company manages a wide portfolio of multi-brand properties across Latvia, Estonia, Ukraine and Bulgaria including over 1,600 rooms ranging from budget, midscale to upper scale offerings. For more information, visit www.mogotel.com
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