We are extremely concerned and saddened about the growing humanitarian crisis in India resulting from the rapid spread of COVID-19 cases. Wyndham Hotels & Resorts is donating $100,000 to the Indian Red Cross Society, which is working alongside authorities to help the people of India by rushing urgently needed supplies and equipment to critical care centers.
We are also working to collaborate with industry associations on broader efforts to raise funds to support India through this crisis and call on others to show their support with matching funds. We have made it possible for Wyndham Rewards members to help by donating points to Save the Children and Christel House, which support families and children in India. Our team members are supporting their colleagues in India through our Wyndham Relief Fund and can also donate directly to a number of qualified 501(c)(3) organizations with a company match. Our team members around the world stand united with our hotel owners, our local colleagues and the broader Indian community.
PARSIPPANY, N.J. (April 28, 2021) – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended March 31, 2021. Highlights include:
Diluted earnings per share was $0.26, and adjusted diluted earnings per share was $0.36.
Net income was $24 million and adjusted net income was $33 million.
Adjusted EBITDA was $97 million.
Generated $64 million of net cash provided by operating activities and $59 million of free cash flow.
Global RevPAR declined 11% compared to first quarter 2020 and 31% compared to first quarter 2019 in constant currency.
Paid quarterly cash dividend of $0.16 per share.
Redeemed all $500 million aggregate principal amount of its outstanding 5.375% Senior Notes due 2026 on April 15, 2021.
Company updates its previous 2021 projections.
“Wyndham’s select-service franchise business model delivered a strong start to 2021 as leisure customers hit the road at a pace not experienced since the pandemic started and demand from our everyday business travelers continued to accelerate,” said Geoffrey A. Ballotti, president and chief executive officer. “We were very pleased to see our development pipelines grow sequentially, both domestically and internationally, and our room openings and deletions improve year-over-year. We were also encouraged to see conversion room openings increase year-over-year, representing over 70% of total openings this quarter.”
Revenues declined from $410 million in the first quarter of 2020 to $303 million in the first quarter of 2021. The decline includes lower pass-through cost-reimbursement revenues of $55 million in the Company’s hotel management business, which have no impact on adjusted EBITDA. Excluding cost-reimbursement revenues, revenues declined $52 million primarily reflecting an 11% decline in constant-currency global RevPAR.
The Company generated net income of $24 million, or $0.26 per diluted share, compared to $22 million, or $0.23 per diluted share, in the first quarter of 2020. The increase of $2 million, or $0.03 per diluted share, was a result of the Company’s COVID-19 cost mitigation plan implemented in April 2020, lower volume-related expenses and the absence of restructuring and transaction-related expenses, which were partially offset by the global RevPAR decline.
The following discussion of first quarter operating results focuses on the Company’s key drivers as well as revenue and adjusted EBITDA for each of the Company’s segments. 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 During the first quarter of 2021, the Company’s global system grew 20 basis points reflecting strong growth in the Company’s direct-franchising business in China, primarily offset by the impact from supply chain delays on new construction openings in the United States. As expected, terminations normalized in the first quarter and the Company remains solidly on track with its goal of achieving a 95% retention rate for the full year 2021.
RevPARGlobal and International RevPAR began to lap the onset of the COVID-19 pandemic in January 2021 while the U.S. began to lap its onset in March 2021. As such, comparisons to 2019 (on a two-year basis) are more meaningful when evaluating trends. On this basis, global RevPAR declined 31% reflecting a 25% decline in the U.S. and a 45% decline internationally. The 25% decline in the U.S. represents continued sequential improvement compared to a decline of 31% in the fourth quarter of 2020. The 45% decline internationally is consistent with the fourth quarter 2020 performance.
Business Segment ResultsHotel Franchising revenues decreased $34 million year-over-year reflecting the global RevPAR decline, while adjusted EBITDA declined $5 million as the impact of the RevPAR decline was almost entirely offset by the Company’s COVID-19 cost mitigation plan implemented in April 2020 and lower volume-related expenses.
Hotel Management revenues decreased $73 million year-over-year reflecting a $55 million reduction in cost-reimbursement revenues, which have no impact on adjusted EBITDA. Absent cost-reimbursements, Hotel Management revenues decreased $18 million due to the global RevPAR decline and lower termination fees. Adjusted EBITDA declined $12 million year-over-year reflecting the revenue decrease, partially offset by lower volume-related expenses.
Development The Company awarded 112 new contracts this quarter compared to 115 in first quarter 2020 and 124 in first quarter 2019. At March 31, 2021, the Company’s development pipeline consisted of approximately 1,400 hotels and approximately 187,000 rooms, growing sequentially by 120 basis points, 70 basis points domestically and 150 basis points internationally. Approximately 64% of the Company’s development pipeline is international and 75% is new construction. Approximately 34% of the new construction pipeline under development has broken ground.
Cash and Liquidity The Company generated $64 million of net cash provided by operating activities in the first quarter of 2021 compared to $17 million in first quarter 2020. Free cash flow was $59 million in the first quarter of 2021 compared to $10 million (which included $15 million of special-item cash outlays) in first quarter 2020.
At March 31, 2021, the Company had $531 million of cash on its balance sheet and $1.3 billion in total liquidity. In April 2021, the Company redeemed all $500 million aggregate principal amount of its outstanding 5.375% senior notes due 2026, which also reduced the Company’s total liquidity to approximately $750 million. The Company expects this redemption to reduce its annual cash interest expense by approximately $27 million. Coupled with the issuance of 4.375% senior notes in August of 2020, this redemption effectively returns the Company to pre-pandemic debt and liquidity levels while extending $500 million of maturity by approximately 2.5 years at a 100 basis point (or 19%) lower interest rate.
Dividends The Company paid common stock dividends of $15 million, or $0.16 per share, in the first quarter of 2021.
2021 Projections The Company is not providing a complete outlook for full-year 2021 given the RevPAR uncertainties ahead; however, the Company is updating the projections provided in February:
Net rooms growth of 1% to 2%, consistent with February’s projection.
Every point of RevPAR change versus 2020 is now expected to generate approximately $2.8 million of adjusted EBITDA change versus 2020 (increased from $2.5 million per point in February).
License fees are expected to be $70 million reflecting the minimum levels outlined in the underlying agreements, consistent with February’s projection.
Marketing, reservation and loyalty expenses are not expected to exceed marketing, reservation and loyalty revenues, consistent with February’s projection. As such, the Company expects no meaningful impact to full-year 2021 adjusted EBITDA from the marketing, reservation and loyalty funds.
The Company does not expect any meaningful special-item cash outlays in 2021, consistent with February’s projection.
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, April 29, 2021 at 8:30 a.m. ET. Listeners can access the webcast live through the Company’s website at www.investor.wyndhamhotels.com. The conference call may also be accessed by dialing 877 876-9174 and providing the passcode “Wyndham”. Listeners are urged to call at least five minutes prior to the scheduled start time. An archive of this webcast will be available on the website beginning at noon ET on April 29, 2021. A telephone replay will be available for approximately ten days beginning at noon ET on April 29, 2021 at 800 723-0549.
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 nearly 95 countries on six continents. Through its network of over 797,000 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 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services. The Company’s award-winning Wyndham Rewards loyalty program offers 87 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 Wyndham Hotels’ current views and expectations with respect to its future performance and operations, including revenues, earnings, cash flow and other financial and operating measures 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 Wyndham Hotels 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 Wyndham Hotels 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 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 in any recovery from 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; concerns with or threats of pandemics, contagious diseases or health epidemics, including the effects of COVID-19 and any resurgence or mutations of the virus and actions governments, businesses and individuals take in response to the pandemic, including stay-in-place directives and other travel restrictions; risks related to restructuring or strategic initiatives; risks related to the Company’s relationship with CorePoint Lodging; 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 as a result of COVID-19; and the Company’s ability to make or pay, plans for, and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in the Company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise.
PARSIPPANY, N.J. (April 28, 2021) – Wyndham Hotels & Resorts (NYSE: WH) – the world’s largest hotel franchising company with over 8,900 hotels across nearly 95 countries and territories – today released its Environmental, Social, and Governance (ESG) Report highlighting its commitment to operate in a way that is socially, ethically and environmentally responsible.
“As the world’s largest hotel company, we have a unique opportunity to make a meaningful impact on the world while delivering on our mission to make hotel travel possible for all,” said Geoffrey A. Ballotti, president and chief executive officer, Wyndham Hotels & Resorts. “Now, more than ever, we must help ensure the future remains bright for travelers while we continue to build a culture in which all people feel welcomed and appreciated.”
Community and COVID-19 Response As a hospitality company, service and volunteering are part of Wyndham’s culture. Team members and franchisees rallied during the pandemic to actively engage in their communities, generously giving time and resources to enhance the lives of others. The examples are numerous, and include:
The Wyndham Garden Dallas North in Texas, which offered 300 hotel rooms to first responders during the height of the pandemic.
Microtel Inn & Suites by Wyndham Niagara Falls, N.Y., where the hotel owner and his family handcrafted more than 2,000 facemasks for the community when they were desperately needed.
The Ramada Suites by Wyndham Remarkables Park Queenstown, New Zealand welcomed eight new babies when the nearest hospital had to relocate its maternity ward due to the pandemic.
Wyndham’s owner-first mindset enabled the vast majority of franchisees – who are primarily small business owners – to keep their hotels open during the pandemic when people were traveling less. The company offered multiple fee waivers and extensions, access to hospital-grade cleaning and safety products at reduced prices when these items were difficult to source, and relaxed housekeeping requirements that helped reduce water and energy use. Whether hotels are welcoming leisure guests looking for an escape to national parks and beaches, or hosting everyday business travelers such as utility workers and construction crews, the company’s “Count on Us” health and safety protocols continue to provide guests peace of mind when they stay with Wyndham.
Commitment to Sustainability
Wyndham is committed to operating sustainably in a way that provides outstanding experiences to those it serves. The company created the Wyndham Green Program, a five-level certification program that helps reduce a hotel’s environmental footprint. The program includes a proprietary environmental management tool that tracks data to help hotels improve energy efficiency, reduce emissions, conserve water, and reduce waste. The company’s work has been recognized through its participation in CDP’s carbon disclosure climate change program, where Wyndham achieved the leadership band for sustainability performance and disclosure.
Our Focus on Diversity, Equity & Inclusion
Wyndham strives to maintain a culture of diversity, equity and inclusion across its organization. The company has increased senior leadership engagement in its Affinity Business Groups and continues to build on its robust Diversity, Equity and Inclusion training programs. For the third year in a row, the company received a perfect score on the Human Rights Campaign’s Equality Index, designating Wyndham as a best place to work as well as having been named by DiversityInc as a noteworthy company for its commitment to diversity and inclusion.
“We respect differences in people, ideas, and experiences, and we understand that we can only truly succeed by bringing together varying backgrounds and points of view. While we have been recognized for the progress we have made on our journey to date, we know we can – and will – continue to do more,” said, Monica Melancon, chief human resource officer, Wyndham Hotels & Resorts.
Wyndham Hotels & Resorts prepared its ESG report in accordance with the Global Reporting Initiative (GRI) Standards, integrating the recommendations of the Sustainability Accounting Standards Board (SASB) and the Taskforce on Climate-related Financial Disclosures (TCFD). The company obtained third-party assurance over selected data disclosed in this report, as indicated by the 2020 Assurance Statement included in the report. All financial figures indicated in the report are in U.S. dollars, unless otherwise noted.
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with over 8,900 hotels across nearly 95 countries on six continents. Through its network of approximately 796,000 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 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services. The Company’s award-winning Wyndham Rewards loyalty program offers 86 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.
LONDON and PARSIPPANY, N.J. (March 31, 2021) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company by number of properties with over 8,900 hotels across nearly 95 countries, continues to cement its presence across Europe, Middle East, Eurasia and Africa (EMEA) with a series of recent hotel launches and a strong line-up of openings for 2021.
In a year of historic challenges for the travel industry, in 2020 Wyndham achieved 38 new hotel signings in the region, a host of important openings, in addition to launching multi-faceted initiatives to support and empower hotel partners across EMEA to help re-build demand in response to changes and on-going travel restrictions.
Some of Wyndham’s key 2020 openings included the European expansion of Ramada by Wyndham in Madrid, Valencia, Leeds and Budapest and continued momentum in India and Pakistan. Other highlights included the expansion of La Quinta by Wyndham in Turkey, and the debut of the Super 8 by Wyndham brand in the UAE alongside more openings in Germany.
In late 2020, Wyndham also opened its first hotel in Nepal under the Ramada Encore by Wyndham brand, and expanded in India with the addition of Wyndham Ahmedabad Shela. Solid growth continued in 2021, as Wyndham announced the debut of the La Quinta brand in Dubai, and saw further momentum in Turkey with the opening of Ramada by Wyndham Izmir Aliaga, while also expanding its Dolce brand with a new flagship hotel in Copenhagen.
Wyndham’s recent expansion in EMEA reinforces its commitment to its partners, guests and team members across the region and is set to continue with a strong development pipeline of over 16,000 rooms that includes more than 20 new hotels expected to open later this year.
Dimitris Manikis, President, Wyndham Hotels & Resorts, EMEA said: “We are extremely proud of these achievements, initiatives and the incredible resilience shown by our hotel partners in the region. In the toughest period our industry has ever experienced, it is more important than ever to put our partners, guests and teams at the heart of everything we do. Our ability to continue to grow is a testament to the strength of the value proposition of the Wyndham brands for hotel partners as they prepare to rebuild demand, and we are looking forward to our continued and long-term success together.”
Some of the upcoming openings in 2021 will include:
The debut of the Wyndham’s namesake brand in Cyprus with the highly anticipated opening of the upscale Wyndham Nicosia expected around the end of the year. The hotel will offer elegant accommodation in Nicosia’s main square, alongside several leisure amenities and conference space.
Further momentum in Turkey where Wyndham is the largest international hotel group with over 80 hotels and seven new properties expected to open in 2021, including the debut of the Days Inn by Wyndham brand with two openings in Istanbul.
Brand expansion in the Middle East with the opening of the first Days Inn by Wyndham in the UAE in the second half of 2021, which will bring more economy accommodation options to travellers visiting the charming Deira district in Dubai, as well as the opening of a new Wyndham Grand hotel in Doha, Qatar.
Further growth in Europe includes the launch of the Trademark Collection by Wyndham hotels with a stylish hotel central Brussels in late March, and more upcoming Trademark openings in Budapest and Dusseldorf later in 2021. Expansion of the Ramada by Wyndham brand in Romania, with two additional openings in Targu Jiu and Slatina.
Additional development in India with the openings of Ramada by Wyndham Gangtok Deorali Hotel & Casino in April and Ramada Varanasi Katesar later in 2021.
Growth in the CIS region, with the additional openings of Wyndham Garden Burabay (Kazakhstan), Ramada Encore by Wyndham Tashkent (Uzbekistan), as well as a Ramada by Wyndham in Georgia’s capital Tbilisi.
Wyndham hotels in EMEA and around the world participate in Wyndham Rewards®, the world’s most generous hotel rewards programme with thousands of hotels, vacation club resorts and vacation rentals worldwide.
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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 nearly 95 countries on six continents. Through its network of approximately 796,000 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 20 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 86 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.
Newest opening in Belgium joins a growing list of boutique conversion Trademark Collection hotels, and more destinations in Germany, Austria and Switzerland
PARSIPPANY, N.J. (March 22, 2021) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with over 8,900 hotels across nearly 95 countries, announces the opening of Hotel Avenue Louise Brussels, its first Trademark Collection by Wyndham hotel in Belgium. The new property is situated in the heart of Brussels, close to many of the capital’s landmarks and attractions, making it the ideal destination for travelers looking to explore the history and culture of the city. Owned by Atom Hoteles and managed by Hotel Collection International (HCI), the stylish hotel underwent a $3.1 million refurbishment and is slated to open later this month.
Launched in 2017, Trademark Collection by Wyndham is designed for travelers seeking distinctive, attainable accommodations in sought-after destinations, with each Trademark hotel maintaining its own unique attributes. The addition in Belgium is the latest in the brand’s fast growth trajectory around the world over the past four years, with 113 hotels in the U.S., Canada, Belize, Mexico, Sint Maarten, Curacao, Australia, Germany, Austria, Switzerland and now Belgium.
The brand is set to continue its international growth with properties slated to open in Budapest, San Francisco, as well as an additional property in Belize later this year.
Christian Michel, Vice President for Development Europe, Wyndham Hotels & Resorts said: “This new opening marks an exciting step in expanding our Trademark Collection by Wyndham portfolio in Europe and around the world. Our Trademark brand is an important part of our conversion strategy. It brings our powerful scale and world-class capabilities to independent hoteliers seeking the competitive advantage of a global hospitality company. Its growth is testament to the unparalleled value of Wyndham’s recognition, which has become incredibly important at a time when travelers are looking for brands they know and trust as they prepare to travel again.”
Hotel Avenue Louise Brussels, Trademark Collection by Wyndham is situated in one of the city’s most popular areas, meters away from the trendy shopping district of Avenue Louise, and within walking distance of many iconic attractions including the historic Grand-Place, the Horta Museum, as well as the famous Manneken Pis statue. The local area offers guests bars, restaurants and traditional bistros, all within walking distance from the hotel.
Featuring classic décor, the hotel boasts 78 spacious and soundproofed guest rooms, the cozy Louise Bar serving breakfast and snacks throughout the day, a patio, as well an English-style lounge with fireplace. The property’s rooftop features a new business center, ideal for executive meetings and special events. The hotel offers guests a perfect balance between comfort and local charm and is situated just 12km from Brussels Airport, a 20-minute walk from the Eurostar international train terminal, and within easy reach of public transportation. It also offers private parking space.
Hotel Avenue Louise Brussels, Trademark Collection by Wyndham is managed by multi-market hotel management company HCI. The opening in Brussels marks Wyndham’s fourth project with HCI in less than a year, following the recent openings of three Ramada by Wyndham properties in Spain.
Sebastian Lodder, CEO of HCI added: “The Trademark Collection by Wyndham is a hugely attractive concept where no two hotels are the same. We are thrilled to be working with Wyndham Hotels & Resorts on our fourth hotel under one of their brands and to leave our own unique mark on this fast-growing soft brand. We are looking forward to leveraging Wyndham’s scale, array of services and world class loyalty program and welcoming guests from around the world to Hotel Avenue Louise Brussels.”
Hotel Avenue Louise Brussels, Trademark Collection by Wyndham is the latest addition to Wyndham’s portfolio in Belgium including Dolce by Wyndham La Hulpe, Brussels, Ramada by Wyndham Brussels Woluwe, as well as TRYP by Wyndham Antwerp.
Wyndham hotels in Belgium and around the world participate in Wyndham Rewards®, the world’s most generous rewards program with thousands of 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, gift cards, merchandise and more.
About Trademark Collection by Wyndham Each of Trademark Collection by Wyndham’s upper-midscale-and-above hotels around the world – from landmark hotels in Germany and Switzerland 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 soft-brand geared to three- and four-star hotel owners passionate about upholding their hotels’ independent spirit and designed for everyday travelers seeking distinctive, attainable accommodations in sought-after destinations. For more information, visit www.wyndhamhotels.com/trademark.
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with over 8,900 hotels across nearly 95 countries on six continents. Through its network of approximately 796,000 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 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services. The Company’s award-winning Wyndham Rewards loyalty program offers 86 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 Hotel Collection International Hotel Collection International is a pioneer company devoted to multi-brand hotel management in Europe, Russia, CIS and Africa. Having worked with hotels in countries such as Spain, Portugal, Belgium, France, Netherlands Georgia, Nigeria, Russia, Slovenia, Azerbaijan or Morocco, HCI is a true international hotel management company, having the ability to adapt to different regions and cultures. We’re committed to making a positive difference in the hospitality industry and the local community in which our hotels are located.
About Atom Hoteles Incorporated by Bankinter and GMA Capital in January 2018, Atom Hoteles is the first real estate investment trust in the Spanish hotel investment market specializing in the hotel sector and are the second largest hotel owner in Spain. Atom Hoteles focuses on the acquisition, management and development of real estate assets for lease in the hotel industry. Atom Hoteles portfolio totals 28 hotels, 6,626 rooms with an asset value of more than €700 million.
Newest addition showcases commitment to grow the La Quinta brand internationally as it enters its ninth country
PARSIPPANY, N.J. (February 23, 2021) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company by number of properties with over 8,900 hotels across nearly 95 countries, today announced the debut of its La Quinta by Wyndham brand in the Middle East with a new 100-room property in Dubai. Expected to open in March 2021, La Quinta by Wyndham Dubai Bur Dubai will be centrally located in the historic Bur Dubai district.
Wyndham continues to expand the La Quinta brand – a leading upper-midscale brand with nearly 940 hotels offering contemporary design, thoughtful amenities and friendly service – throughout the world. This hotel marks the 75th La Quinta property to open since Wyndham acquired the brand in 2018. La Quinta has now expanded to nine countries: Canada, Chile, Colombia, Honduras, Mexico, Turkey, New Zealand, the United Arab Emirates, and the United States. The brand has also announced plans to open eight new La Quinta hotels in the Dominican Republic.
The new Dubai property is located in one of the city’s bustling commercial hubs offering easy access to leisure attractions, including the Dubai Cruise Terminal at Port Rashid, The Dubai Mall, the Dubai Frame and Jumeirah Mosque, as well as business hotspots such as the Dubai World Trade Centre and the city’s financial district. The newly refurbished hotel will boast contemporary guest rooms and elegant interiors, combining Dubai’s traditional trading colors with a modern twist that replicates the city’s lively scene. La Quinta by Wyndham Dubai Bur Dubai will also offer a 100-square meter event and meeting space and a host of additional amenities, including an outdoor pool with pool deck, a spacious spa with sauna and steam room, and a modern fitness centre. Other features will include all-day dining, a lounge, coffee shop, 24/7 room service, and speciality restaurants serving Indian delicacies and international menus. A 24-hour business centre, children’s play area and pool, dedicated retail space, ample parking, and a local shuttle add to the hotel’s positioning as ideal for business or leisure.
Dimitris Manikis, President Europe, Middle East, Eurasia and Africa (EMEA), Wyndham Hotels & Resorts, said: “We are on a strong growth trajectory for La Quinta by Wyndham, and this latest addition further highlights our commitment to expand the brand in EMEA and around the world. Dubai is one of the most sought out destinations for travelers from all corners of the globe, making it the ideal location to launch La Quinta in the market. This property perfectly complements our portfolio of over 60 hotels in the Middle East and Africa and we look forward continuing to grow our robust pipeline in the region.”
Wyndham hotels in the Middle East and around the world participate in Wyndham Rewards®, the world’s most generous hotel rewards program with more than 30,000 hotels, vacation club resorts and vacation rentals worldwide.
About La Quinta by Wyndham
With nearly 940 destinations globally, the La Quinta by Wyndham brand is a bright spot in every traveller’s journey. The brand offers thoughtful amenities, friendly service, and consistently delivers an exceptional guest experience that keeps travelers waking up on the bright side. For more information, visit www.lq.com. Like and follow LQ on Facebook and YouTube. If you are interested in developing a hotel, please visit www.wyndhamdevelopment.com.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with over 8,900 hotels across nearly 95 countries on six continents. Through its network of approximately 796,000 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 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services. The Company’s award-winning Wyndham Rewards loyalty program offers 86 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.
“Our hearts today at Wyndham are broken with the passing of our dear friend and colleague Arne, who meant so much to all of us. We will keep Arne, Ruth, Astri, Esther, Lars and Isaac in our prayers along with all of the Marriott family. God Bless one of the greatest leaders we’ve ever been gifted to have lead our industry over the years on so many different levels. Arne will be missed in more ways than we will ever know.”
– Geoff Ballotti, President and CEO, Wyndham Hotels & Resorts
PARSIPPANY, N.J. (February 10, 2021) – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months and year ended December 31, 2020. Highlights include:
Diluted loss per share for the quarter was $0.08 and adjusted diluted earnings per share was $0.07; diluted loss per share for the full-year was $1.42 and adjusted diluted earnings per share was $1.03.
Net loss for the quarter was $7 million and adjusted net income was $7 million; net loss for the full-year was $132 million and adjusted net income was $96 million.
Adjusted EBITDA was $56 million for the quarter and $327 million for the full-year.
Global comparable RevPAR for the quarter declined 33% year-over-year; global comparable RevPAR for the year declined 35% year-over-year.
System-wide rooms declined 4% year-over-year.
Net cash provided by operating activities for the full-year was $67 million and free cash flow was $34 million.
Paid quarterly cash dividend of $0.08 per share in fourth quarter, and Board of Directors recently authorized a 100% increase in the quarterly cash dividend to $0.16 per share beginning with the dividend expected to be declared in first quarter 2021.
Repaid all remaining revolver credit facility borrowings.
“We generated strong adjusted EBITDA and free cash flow in the worst year our industry has ever experienced. At the same time, we strengthened our portfolio with the completion of our strategic termination plan and drove sequential growth in hotel openings and our development pipeline,” said Geoffrey A. Ballotti, president and chief executive officer. “Our non-urban, drive-to economy and midscale hotels, combined with our ongoing investment in sales and marketing, captured rising pent-up leisure travel demand, which continued to produce sequential RevPAR improvements and domestic market share gains for our franchisees over the course of 2020.”
Fourth Quarter 2020 Operating Results Revenues declined from $492 million in the fourth quarter of 2019 to $296 million in the fourth quarter of 2020. The decline includes lower pass-through cost-reimbursement revenues of $70 million, which have no impact on adjusted EBITDA, in the Company’s hotel management business. Excluding cost-reimbursement revenues, revenues declined $126 million primarily reflecting a 33% decline in comparable RevPAR and the impact from hotels temporarily closed due to COVID-19, as well as a $15 million decline in license and other fees also reflecting the impact of COVID-19 on travel demand globally.
The Company generated a net loss of $7 million, or $0.08 per diluted share, compared to net income of $64 million, or $0.68 per diluted share, in the fourth quarter of 2019. The decrease of $71 million, or $0.76 per diluted share, was primarily due to the RevPAR and license fee declines, as well as excess marketing fund spend, which were partially offset by cost containment initiatives, lower volume-related expenses and the absence of transaction-related expenses. 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.
Fourth Quarter 2020 Business Segment Discussion The following discussion of fourth quarter operating results focuses on revenue and adjusted EBITDA for each of the Company’s segments.
Hotel Franchising
The Company’s franchised system declined 3% primarily reflecting the Company’s previously announced removal of approximately 18,500 non-compliant and brand detracting rooms. In addition, net franchised rooms includes approximately 7,800 rooms that were transferred from the hotel management segment primarily related to the CorePoint Lodging asset sales, which were partially offset by the deletion of approximately 5,300 low-royalty rooms in connection with the sale of certain hotels by a strategic partner.
RevPAR declined 33% globally reflecting a 28% decline in the U.S. and a 43% decline internationally. On a comparable basis, which is in constant currency and excludes hotels temporarily closed due to COVID-19, global RevPAR declined 31% reflecting a 28% decline in the U.S. and a 40% decline internationally.
Revenues decreased $98 million compared to fourth quarter 2019 reflecting the impact of COVID-19 on travel demand globally, while a decline in adjusted EBITDA of $76 million further reflected excess marketing fund spend, partially mitigated by cost containment initiatives and lower volume-related expenses.
Hotel Management
The Company’s managed system declined 19% primarily reflecting approximately 7,800 rooms that were transferred to the hotel franchising segment primarily as a result of CorePoint Lodging asset sales. Excluding the transfer of these rooms, the Company’s managed system decreased 7% primarily reflecting the Company’s previously announced removal of approximately 2,900 unprofitable management guarantee hotel rooms.
RevPAR declined 44% globally, domestically and internationally. On a comparable basis, which excludes hotels temporarily closed due to COVID-19, global RevPAR declined 43%, including a 44% decline in the U.S. and a 42% decline internationally.
Revenues decreased $96 million compared to the prior-year period primarily due to lower cost-reimbursement revenues, which have no impact on adjusted EBITDA. Absent cost-reimbursements, revenues decreased $26 million due to the unfavorable impact of COVID-19 on travel demand globally. Adjusted EBITDA declined $22 million as the RevPAR impacts were partially mitigated by lower volume-related expenses.
Full-Year 2020 Operating Results Revenues declined from $2,053 million in 2019 to $1,300 million in 2020. The decline includes lower pass-through cost-reimbursement revenues of $273 million, which have no impact on adjusted EBITDA, in the Company’s hotel management business. Excluding cost-reimbursement revenues, revenues declined $480 million primarily reflecting a 35% decline in comparable RevPAR and the impact from hotels temporarily closed due to COVID-19, as well as a $47 million decline in license and other fees also reflecting the impact of COVID-19 on travel demand globally.
The Company generated a net loss of $132 million, or $1.42 per diluted share, in 2020 compared to net income of $157 million, or $1.62 per diluted share, in 2019. The decline of $289 million, or $3.04 per diluted share, was primarily due to the revenue decline, impact of the non-cash impairment charges and excess marketing fund spend, which were partially offset by cost containment initiatives, lower volume-related, separation-related and transaction-related expenses and the absence of contract termination expenses. 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.
Development As of December 31, 2020, the Company’s hotel system of over 8,900 properties and approximately 796,000 rooms declined 4% year-over-year primarily reflecting unusual termination events resulting in the deletion of approximately 26,700 rooms, comprised of 18,500 non-compliant, brand detracting rooms, 5,300 rooms in connection with the strategic partner hotel sales and 2,900 unprofitable management guarantee rooms. As a result, the Company’s global retention rate declined 330 basis points year-over-year to 91.5%.
The Company awarded over 580 new contracts this year and its development pipeline at year-end consisted of approximately 1,400 hotels and approximately 185,000 rooms, growing sequentially by 120 basis points domestically and 20 basis points globally. Approximately 64% of the Company’s development pipeline is international and 75% is new construction, of which 34% have broken ground.
Cash and Liquidity During the fourth quarter of 2020, the Company repaid all remaining borrowings under its revolving credit facility. Accordingly, the Company’s cash balance decreased $242 million since September 30, 2020 to $493 million as of December 31, 2020. The Company had over $1.2 billion in total liquidity available as of December 31, 2020.
The Company generated $67 million of net cash provided by operating activities in 2020 and $34 million of free cash flow in 2020. Excluding $66 million of special-item cash outlays, primarily relating to the Company’s restructuring initiatives, as well as transaction-related and separation-related cash payments, adjusted free cash flow in 2020 was $100 million.
Dividends The Company paid common stock dividends of $7 million, or $0.08 per share, in the fourth quarter of 2020. For the full-year, the Company paid $53 million, or $0.56 per share, in common stock dividends.
The Company’s Board of Directors authorized a 100% increase in the quarterly cash dividend to $0.16 per share from $0.08 per share, beginning with the dividend that is expected to be declared in the first quarter of 2021.
2021 Projections The Company is not providing a complete outlook for full-year 2021 given the RevPAR uncertainties ahead; however, provided below is the Company’s best view of certain operating statistics and financial metrics for full-year 2021:
Net rooms growth of 1% to 2%.
Every point of RevPAR change versus 2020 is expected to generate approximately $2.5 million of adjusted EBITDA change versus 2020. This estimate does not include impacts from license fees or the marketing funds.
License fees are expected to be $70 million reflecting the minimum levels outlined in the underlying agreements.
Marketing, reservation and loyalty expenses are not expected to exceed marketing, reservation and loyalty revenues. As such, the Company expects no meaningful impact to full-year 2021 adjusted EBITDA from the marketing, reservation and loyalty funds.
The Company does not expect any meaningful special-item cash outlays in 2021.
More detailed projections are available in Table 8 of this press release. The Company is providing certain financial metrics only on a non-GAAP basis because, without unreasonable efforts, it is unable to predict with reasonable certainty the occurrence or amount of all of the adjustments or other potential adjustments that may arise in the future during the forward-looking period, which can be dependent on future events that may not be reliably predicted. Based on past reported results, where one or more of these items have been applicable, such excluded items could be material, individually or in the aggregate, to the reported results.
Conference Call Information Wyndham Hotels will hold a conference call with investors to discuss the Company’s results and outlook on Thursday, February 11, 2021 at 8:30 a.m. ET. Listeners can access the webcast live through the Company’s website at www.investor.wyndhamhotels.com. The conference call may also be accessed by dialing 877 876-9173 and providing the passcode “Wyndham”. Listeners are urged to call at least five minutes prior to the scheduled start time. An archive of this webcast will be available on the website beginning at noon ET on February 11, 2021. A telephone replay will be available for approximately ten days beginning at noon ET on February 11, 2021 at 800 723-7372.
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 nearly 95 countries on six continents. Through its network of approximately 796,000 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 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services. The Company’s award-winning Wyndham Rewards loyalty program offers 86 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 Wyndham Hotels’ current views and expectations with respect to its future performance and operations, including revenues, earnings, cash flow and other financial and operating measures and dividends, restructuring charges and statements related to the COVID-19 pandemic. Forward-looking statements include those that convey management’s expectations as to the future based on plans, estimates and projections at the time Wyndham Hotels makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “intend,” “goal,” “future,” “outlook,” “guidance,” “target,” “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 Wyndham Hotels 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 the COVID-19 pandemic, its scope, duration 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 the COVID-19 pandemic; the Company’s performance in any recovery from the COVID-19 pandemic; 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; concerns with or threats of pandemics, contagious diseases or health epidemics, including the effects of the COVID-19 pandemic and any resurgence or mutations of the virus and actions governments, businesses and individuals take in response to the pandemic, including stay-in-place directives and other travel restrictions; risks related to restructuring or strategic initiatives; risks related to the Company’s relationship with CorePoint Lodging; 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 as a result of COVID-19; and the Company’s limitations related to share repurchases and ability to pay dividends under its credit facility and the timing and amount of any future dividends, as well as the risks described in the Company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise.
PARSIPPANY, N.J. (January 28, 2021) – Wyndham Hotels & Resorts (NYSE: WH) announced today that it received a perfect score of 100 on the 2021 Corporate Equality Index (CEI), a national benchmarking survey and report on practices related to LGBTQ workplace equality, administrated by the Human Rights Campaign. The honor marks Wyndham’s third consecutive year earning a perfect score on the CEI, designating the company as a Best Place to Work for LGBTQ Equality.
“This recognition highlights our dedication to recruiting and retaining a workforce that reflects the diversity of our guests, owners and communities around the world. We are committed to creating an inclusive work culture where all of our team members can thrive,” says Geoffrey A. Ballotti, chief executive officer, Wyndham Hotels & Resorts. “Recognizing that embracing inclusivity is good business, Wyndham Hotels & Resorts appeals to diverse consumers, cultivating welcoming environments in its hotels, in addition to supporting its team members.”
Wyndham Hotels & Resorts is among 1,142 businesses rated in this year’s report. Human Rights Campaign uses criteria based on equitable benefits for LGBTQ workers and their families; non-discrimination policies across business entities; supporting an inclusive culture; and corporate social responsibility. The CEI rates employers providing crucial protections to over 18 million U.S. workers and an additional 17 million abroad. Companies rated in the CEI include Fortune magazine’s 500 largest publicly traded businesses, American Lawyer magazine’s top 200 revenue-grossing law firms (AmLaw 200), and hundreds of publicly and privately held mid- to large-sized businesses.
Wyndham’s commitment to supporting the LGBTQ community is reflected both inside and outside of the company:
In support of fostering an inclusive environment where our team members feel comfortable to be their authentic selves, we launched a campaign on October 21, 2020-International Pronouns Day to promote awareness about pronouns and how our team members can self-identify should they choose to do so.
In 2019, Wyndham Hotels & Resorts joined the HRC Business Coalition for the Equality Act, a group of leading U.S. employers that support the Equality Act.
Wyndham offers a range of diversity and inclusion resources for team members and senior leadership, including an executive Social Responsibility Council and Pride, an affinity business group.
Wyndham Hotels & Resorts also partners with leading organizations including HRC, National Gay & Lesbian Chamber of Commerce and International Gay & Lesbian Travel Association.
For more information on the 2021 Corporate Equality Index, or to download a free copy of the report, visit www.hrc.org/cei.
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,000 hotels across approximately 90 countries on six continents. Through its network of 804,000 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 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services. The Company’s award-winning Wyndham Rewards loyalty program offers 85 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.
India growth continues with 11 more new hotels under construction
PARSIPPANY, N.J. (January 25, 2021) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,000 hotels across 90 countries, continues to cement its presence in Gujarat with the opening of the Wyndham Ahmedabad Shela.
Serving as tranquil urban retreat, the hotel offers 65,000 square feet of meeting space spread across 34 state-of-the-art meeting rooms able to accompany up to 3,500 attendees along with its indoor and outdoor pools, spa, salon and movie theatre — all with easy access to the shopping and business hubs of Gujarat state’s largest city and commercial capital. The Wyndham Ahmedabad joins the Ramada®, Hawthorn Suites® and Ramada Encore brands in Gujarat upon the heels of the recent debut of the Hawthorn Suites® by Wyndham brand in Dwarka.
“The Wyndham brand is recognized around the world for providing an upscale experience and our latest addition in Ahmedabad perfectly complements our strong brand portfolio in India, increasing our presence to over 4,000 hotel rooms now open and operating,” said Nikhil Sharma, regional director Eurasia, Wyndham Hotels & Resorts. “Our teams have executed 18 new franchise agreements in India and have helped our owners break ground on the construction of 11 of these hotels which are expected to open over the next two years, in addition to helping independent owners convert their hotels to the world’s best known brands on the industry’s leading distribution and loyalty platform.”
Wyndham Ahmedabad Shela offers refined amenities and elevated service. The property provides easy access to various attractions such as the Jama Masjid Mosque and Kankaria Lake, as well as major transport links including Sardar Vallabhbhai Patel International Airport, Ahmedabad Junction Railway Station and the SG Highway.
Wyndham’s growing presence in India was recently recognized by the prestigious South Asian Travel Awards, as one of the leading hospitality development companies for India. Several Wyndham-branded properties were also awarded for achievements in their individual categories, highlighting the company’s excellence and drive.
All Wyndham Hotels & Resorts properties in India and around the world participate in Wyndham Rewards®, the world’s most generous hotel rewards program with thousands of 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 90 countries on six continents. Through its network of 804,000 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 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services. The Company’s award-winning Wyndham Rewards loyalty program offers 85 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.
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During the first quarter of 2021, the Company’s global system grew 20 basis points reflecting strong growth in the Company’s direct-franchising business in China, primarily offset by the impact from supply chain delays on new construction openings in the United States. As expected, terminations normalized in the first quarter and the Company remains solidly on track with its goal of achieving a 95% retention rate for the full year 2021.
Global and International RevPAR began to lap the onset of the COVID-19 pandemic in January 2021 while the U.S. began to lap its onset in March 2021. As such, comparisons to 2019 (on a two-year basis) are more meaningful when evaluating trends. On this basis, global RevPAR declined 31% reflecting a 25% decline in the U.S. and a 45% decline internationally. The 25% decline in the U.S. represents continued sequential improvement compared to a decline of 31% in the fourth quarter of 2020. The 45% decline internationally is consistent with the fourth quarter 2020 performance.
Hotel Franchising revenues decreased $34 million year-over-year reflecting the global RevPAR decline, while adjusted EBITDA declined $5 million as the impact of the RevPAR decline was almost entirely offset by the Company’s COVID-19 cost mitigation plan implemented in April 2020 and lower volume-related expenses.
