PARSIPPANY, N.J. (January 13, 2021) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,000 hotels across 90 countries, continues to expand its global footprint with its entry into Nepal via the newly opened 90-room Ramada® Encore by Wyndham Kathmandu-Thamel.
Located in the center of Kathmandu, the capital and largest city in Nepal, the newly built hotel opened earlier this week and is part of a vibrant rejuvenation project of the city’s commercial center, close to top attractions and cultural wonders such as the base camp for Mount Everest, the Garden of Dreams, Ason Bazaar at Kathmandu Durbar Square and other popular destinations in the city.
This latest opening builds on Wyndham’s continued commitment to growth for the sub-Indian continent. With more than 50 properties currently in the Indian sub-continent, the opening of Ramada Encore by Wyndham Kathmandu-Thamel is another welcome footstep towards the Company’s continued expansion plans.
Nikhil Sharma, regional director, Eurasia, Wyndham Hotels & Resorts said, “We are thrilled to be expanding Wyndham’s portfolio in this exciting new destination. Nepal is a beautiful country with huge potential and we are pleased to be making our footprint as part of our strategy to further expand our EMEA reach across the Indian sub-continent. With a growing portfolio of more than 50 operational hotels in the region and plans to develop around 30 additional properties across India, Bhutan, Bangladesh and Pakistan by 2025, the debut of the Ramada Encore by Wyndham brand brings us one step closer to our mission of making hotel travel possible for all in the Indian sub-continent and beyond.”
Ramada Encore by Wyndham Kathmandu-Thamel features contemporary rooms designed with comfort and accessibility in mind. The hotel offers guests various on-site food and beverage outlets, including the Pateo restaurant and bar, the outdoor El Beso Caro offering scenic views of the city, as well as Chocos N Subs, serving light meals and coffee. Other amenities include a rooftop plunge pool, a spa and salon for rejuvenation and relaxation, as well as a fitness center. The hotel also features a versatile meeting room to accommodate up to 60 conference attendees or 80 banquet guests.
Ramada Encore by Wyndham hotels in the Indian sub-continent 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 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.
Wyndham Hotels & Resorts today announced the promotion of its human resource leader for managed hotel operations in North America, Monica Melancon, to Chief Human Resource Officer, effective March 1.
PARSIPPANY, N.J. (December 15, 2020) – Wyndham Hotels & Resorts (NYSE: WH) today announced that Mary R. Falvey, its Chief Administrative Officer, will leave the Company on March 1, 2021.
“During her 22 years at Wyndham Worldwide and its predecessor companies, Mary was absolutely instrumental in building the best culture in this industry and helping us transition that culture to Wyndham Hotels & Resorts. We are tremendously grateful for all that Mary has achieved during her distinguished career at Wyndham along with her leadership in setting up our teams around the world for success in our new company. I know I speak on behalf of our over 10,000 team members when I say we will miss Mary immensely,” said Geoffrey A. Ballotti, Chief Executive Officer.
“I thank my friends and colleagues at Wyndham. It has been an honor and a privilege to work with our team members around the globe and with the best leadership team in the industry,” said Ms. Falvey. “I have enjoyed our teamwork and I am proud of what we accomplished together over the past two decades, particularly building a strong values-based culture that embraces our power to make change in the world and celebrates the diversity of our people.”
The Company also today announced the promotion of its human resource leader for managed hotel operations in North America, Monica Melancon, to Chief Human Resource Officer, effective March 1. Ms. Melancon spent 15 years in increasing roles of responsibility at Target, rising from HR executive at the unit level to a senior regional HR executive overseeing a region with $3 billion of annual sales and over 15,000 team members. In 2015, she joined La Quinta Management LLC and has been consistently promoted since Wyndham’s acquisition of La Quinta to lead human resources operations for all Wyndham managed hotels in North America and over 8,000 Wyndham team members. Ms. Melancon holds a Bachelor of Business Administration, Management & Marketing degree from East Texas Baptist University in Marshall, Texas. She is currently based in Wyndham’s Irving, Texas office and will be relocating to Wyndham Hotels & Resorts’ world headquarters in Parsippany, N.J.
Mr. Ballotti commented, “Monica is an exceptional leader whom I’ve had the pleasure to work with since our acquisition of La Quinta more than two years ago. She personally knows our ownership groups and leadership teams on the ground who deliver our Count on Me service daily. She understands our business, our company and our people, and I’m confident she is the right leader to drive our culture and business forward.”
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.
Grows economy offerings globally while expanding footprint of its upscale Wyndham brand
PARSIPPANY, N.J. (December 15, 2020) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,000 hotels across 90 countries, today announced its continued expansion across the UAE with the opening of the 290-room upscale Wyndham® Dubai Deira, and the 94-key Super 8® by Wyndham Dubai Deira—its first property in the country under the well-known economy brand.
Located in the historic area of Deira, the newly opened hotels are the first in the highly anticipated Deira Enrichment Project and part of a strategic effort by Wyndham to meet travelers’ growing demand for accommodations at varying price points across the region.
Michel Augier, regional director, Middle East and Africa, Wyndham Hotels & Resorts, said: “We are thrilled to welcome these iconic brands to this important area of Dubai. The Deira Waterfront has great potential to attract visitors from around the world, many of whom bring varying accommodation needs, making it the ideal location to further expand our presence. With distinct offerings from economy to upscale, this marks yet another step in our continued commitment to making hotel travel possible for all.”
The Deira Enrichment Project—a development by Ithra Dubai and fully owned by Investment Corporation of Dubai—is a mixed-use project situated along the Dubai creek in the southern part of Deira. With the goal of expanding the urban fabric of the existing Deira community towards the waterfront, the project is expected to become one of the largest waterfronts and man-made developments in the world.
Additional details on the new hotels include:
Super 8 by Wyndham Dubai Deira Designed for budget conscious travelers, the Super 8 by Wyndham Dubai Deira features guestrooms with contemporary interior design elements complemented by traditional Arabian touches. During their stay, guests can enjoy international cuisine at Qahua, a restaurant where modern décor meets famed Old Arabia. The hotel is located opposite Dubai Gold Souk and is close to the city’s popular landmarks.
Wyndham Dubai Deira Appealing to upscale guests looking for tailored services, the stylish 14-floor Wyndham Dubai Deira boasts 290 rooms and suites, all designed with an eye for detail. Amenities include a spa with two treatment rooms, a sauna and steam room, a fitness center and a pool deck. The hotel also offers six food and beverage outlets including The Spicery, an all-day restaurant with 200 seats, a lounge bar, lobby lounge, pool bar and executive lounge. An additional restaurant is expected to open in 2022, serving Latin American cuisine on the hotel’s al fresco terrace. Wyndham Dubai Deira also features eight day-lit meeting rooms that can cater for up to 300 guests.
Situated in the heart of Dubai’s trading legacy, and in close proximity to the Gold Souk Extension, both properties are located only a 20-minute drive away from Dubai International Airport and The Dubai Mall, within easy reach of Deira’s metro stations, various bus routes and the Old Souk water taxi station.
The new hotels will add to Wyndham’s current portfolio of 16 hotels in the UAE, including 8 in Dubai. The company is also on track to open another hotel, the previously announced Days Hotel by Wyndham Dubai Deira, in the first half of 2021. The hotel is slated to be the first to open under the Days Inn® by Wyndham brand in the UAE.
All hotels in the UAE under Wyndham Hotels & Resorts 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 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.
PARSIPPANY, N.J., October 28, 2020 – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended September 30, 2020. Highlights include:
Diluted earnings per share was $0.29, and adjusted diluted earnings per share was $0.36.
Net income was $27 million for the third quarter and adjusted net income was $34
Adjusted EBITDA was $101 million.
Generated $97 million of net cash provided by operating activities and $92 million of free cash flow.
Global comparable RevPAR declined 35% year-over-year.
System-wide rooms declined 2% year-over-year.
Paid quarterly cash dividend of $0.08 per share.
Issued $500 million aggregate principal amount of 4.375% senior unsecured notes in August 2020, due 2028, the net proceeds of which were used in full to repay then-outstanding revolver borrowings.
“In the face of continued industry uncertainty, our leisure-oriented, drive-to franchise business model generated $101 million of adjusted EBITDA and $92 million of free cash flow,” said Geoffrey A. Ballotti, president and chief executive officer. “Over 99% of our domestic and over 97% of our global portfolio are open today. RevPAR improved sequentially across the globe, and in the U.S., our economy and midscale brands continued to gain market share. Third quarter room openings also improved sequentially both in the U.S. and internationally and we grew our pipeline by 3% to 185,000 rooms globally. Importantly, we executed 152 hotel agreements, including 23% more domestic conversion signings than the third quarter of 2019. As always, we remain dedicated to supporting our owners around the world during these very challenging times.”
Revenues declined from $560 million in the third quarter of 2019 to $337 million in the third quarter of 2020. The decline includes lower pass-through cost-reimbursement revenues of $79 million, which have no impact on adjusted EBITDA, in the Company’s hotel management business. Excluding cost-reimbursement revenues, revenues declined $144 million primarily reflecting a 35% decline in comparable RevPAR and the impact from hotels temporarily closed due to COVID-19.
The Company generated net income of $27 million, or $0.29 per diluted share, compared to $45 million, or $0.47 per diluted share, in the third quarter of 2019. The decline in net income of $18 million, or $0.18 per diluted share, was primarily due to the revenue declines, which were partially offset by cost containment initiatives, lower volume-related expenses and the absence of contract termination and 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.
Business Segment Discussion The following discussion of third quarter operating results focuses on revenue and adjusted EBITDA for each of the Company’s segments.
The Company’s franchised system, which included 8,500 rooms transferred from the hotel management segment related to the CorePoint Lodging asset sales, declined 1% globally. Excluding the transfer, franchised net rooms declined 2% globally, reflecting the Company’s previously announced removal of non-compliant and brand detracting rooms, of which approximately 9,000 were removed during the second quarter and approximately 7,900 were removed during the third quarter.
RevPAR declined 36% globally, reflecting a 31% decline in the U.S. and a 50% decline internationally. On a comparable basis, which is in constant currency and excludes hotels temporarily closed due to COVID-19, global RevPAR declined 33%, reflecting a 30% decline in the U.S. and a 43% decline internationally.
Revenues decreased $143 million compared to third quarter 2019 reflecting the impact of COVID-19 on travel demand globally, while a decline in adjusted EBITDA of $78 million was partially mitigated by cost containment initiatives and lower volume-related expenses.
The Company’s managed system globally decreased 12%, primarily reflecting the transfer of 8,500 rooms to the hotel franchising segment as a result of CorePoint Lodging asset sales. Excluding the transfer of rooms to the hotel franchising segment, the Company’s managed system increased 2% primarily reflecting growth internationally, partially offset by the Company’s previously announced removal of approximately 1,300 unprofitable management guarantee hotel rooms during the third quarter.
RevPAR declined 48% globally, including a 45% decline in the U.S. and a 56% decline internationally. On a comparable basis, which excludes hotels temporarily closed due to COVID-19, global RevPAR declined 46%, including a 43% decline in the U.S. and a 51% decline internationally.
Revenues decreased $79 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 were unchanged as the unfavorable impact of COVID-19 on travel demand globally was offset by the absence of a $20 million fee credit recorded as a reduction to hotel-management revenues in the third quarter of 2019, which was considered transaction-related and therefore did not impact Adjusted EBITDA. Adjusted EBITDA declined $11 million as the RevPAR impacts were partially mitigated by cost containment initiatives and lower volume-related expenses.
Development As of September 30, 2020, the Company’s hotel system of approximately 9,000 properties and 804,000 rooms declined 2% year-over-year. During the third quarter of 2020, the Company opened 76 hotels totaling 9,600 rooms, a year-over-year decline of 34% due to delays resulting from the pandemic.
As expected, the Company’s global retention rate over the last twelve months declined to 92.6% compared to 94.9% during the same period last year due to the Company’s removal of approximately 9,000 non-compliant master franchise rooms in China during the second quarter; and the Company’s removal of approximately 9,200 additional non-compliant, unprofitable and brand detracting rooms in the third quarter.
The Company’s development pipeline consisted of 1,400 hotels and approximately 185,000 rooms, a 3% decline year-over-year, or a 3% increase sequentially. Approximately 64% of the Company’s development pipeline is international and 76% is new construction, of which 33% have broken ground.
Cash and Liquidity During the third quarter of 2020, the Company’s cash balance increased $71 million to $735 million, including the issuance of $500 million of senior unsecured notes bearing interest at 4.375%, the net proceeds of which were used in full to repay then-outstanding revolver borrowings. In addition, the Company made $10 million of special-item cash outlays, primarily reflecting COVID-19 related restructuring payments, during the third quarter. As of September 30, 2020, the total capacity under the Company’s revolving credit facility was $501 million and the Company had approximately $1.2 billion in total liquidity.
Dividends The Company paid common stock dividends of $7 million, or $0.08 per share, in the third quarter of 2020.
Conference Call Information Wyndham Hotels will hold a conference call with investors to discuss the Company’s results and outlook on Thursday, October 29, 2020 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 for approximately 90 days beginning at noon ET on October 29, 2020. A telephone replay will be available for approximately ten days beginning at noon ET on October 29, 2020 at 800 753-9197.
Presentation of Financial Information Financial information discussed in this press release includes non-GAAP measures, which include or exclude certain items. These non-GAAP measures differ from reported GAAP results and are intended to illustrate what management believes are relevant period-over-period comparisons and are helpful to investors as an additional tool for further understanding and assessing the Company’s ongoing operating performance. The Company uses these measures internally to assess its operating performance, both absolutely and in comparison to other companies, and to make day to day operating decisions, including in the evaluation of selected compensation decisions. Exclusion of items in the Company’s non-GAAP presentation should not be considered an inference that these items are unusual, infrequent or non-recurring. Full reconciliations of GAAP results to the comparable non-GAAP measures for the reported periods appear in the financial tables section of this press release.
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,000 hotels across approximately 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. 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 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,” “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 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 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 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 the acquisition of La Quinta and 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. (October 28, 2020) – Essential workers across the globe are getting something special in their email inbox today. In honor of National First Responders Day, Wyndham Hotels & Resorts, the world’s largest hotel franchising company with over 9,000 hotels across approximately 90 countries, is surprising over 45,000 workers on the frontlines of the pandemic with 7,500 Wyndham Rewards® points, enough for a free one-night stay at thousands of Hotels by Wyndham.
The latest initiative under Wyndham’s ongoing #EverydayHeroes campaign, the points are being sent to any health care worker, police officer, teacher, truck driver, construction worker or other essential worker who opted into the campaign at www.wyndhamrewards.com/heroes prior to 11:59 p.m. ET on October 27, 2020.
“Throughout this pandemic, it’s our essential frontline workers who have helped keep us all safe and our Nation running,” said Geoff Ballotti, president and CEO of Wyndham Hotels & Resorts. “On this National First Responders Day, we want to honor their hard work and continued sacrifice. Whether it’s with a quick overnight getaway or a week-long escape, our hope is that these points, combined with the added perks of Wyndham Rewards Gold membership, help to make their next trip not only more attainable, but more enjoyable too. They’ve earned it.”
Wyndham launched its #EverydayHeroes campaign this past April as a way to recognize and say thank you to those on the frontlines of the pandemic—many of whom continue to travel as a necessary function of their job. Through the campaign, eligible workers are able to receive a complimentary instant upgrade to Wyndham Rewards Gold membership, which comes with added perks like late checkout, a preferred room and accelerated earning.
Points are being distributed today via email and must be claimed by November 18, 2020. Once claimed, recipients have 18 months to redeem. While workers must have opted into the campaign before today to receive the points, those who have yet to do so can still claim their complimentary Gold membership, thanks to an extension of the campaign through December 31, 2020. For more information, including full terms and conditions, visit www.wyndhamrewards.com/heroes.
As the travel landscape continues to evolve in the wake of COVID-19, Wyndham and its brands remain committed to the health and safety of guests and team members. The vast majority of the Company’s hotels remain open and are welcoming guests with flexible booking policies and enhanced health and safety protocols through Wyndham’s Count on UsSM initiative. The Company has also extended current Wyndham Rewards member benefits through the end of 2021 and paused points expiration through the end of this year. Learn more at www.wyndhamhotels.com/COVID-19.
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with over 9,000 hotels across approximately 90 countries on six continents. Through its network of 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 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 84 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 Wyndham Rewards Recently named the number one hotel rewards program by readers of USA TODAY, Wyndham Rewards® is the world’s most generous rewards program with more than 30,000 hotels, vacation club resorts and vacation rentals worldwide. Designed for the everyday traveler, members earn a guaranteed 1,000 points with every qualified stay and may redeem points for a wide-range of rewards, including free nights at any of over 9,000 hotels or thousands of vacation club resorts and vacation rentals globally through affiliation with Wyndham Destinations (NYSE: WYND) and others. Wyndham Rewards has approximately 84 million enrolled members around the globe. Join for free today at www.wyndhamrewards.com. You’ve earned this.®
PARSIPPANY, N.J., July 28, 2020 – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended June 30, 2020. Highlights include:
Diluted loss per share was $1.86, and adjusted diluted earnings per share was $0.10.
Net loss was $174 million for the second quarter and adjusted net income was $9 million.
Adjusted EBITDA was $63 million.
System-wide rooms remained flat year-over-year.
Global comparable RevPAR declined 54% year-over-year.
Paid quarterly cash dividend of $0.08 per share.
“We generated positive adjusted EBITDA in the second quarter, driven by our drive-to and leisure-oriented franchise business model, along with our immediate and concerted cost savings initiatives,” said Geoffrey A. Ballotti, president and chief executive officer. “We were pleased to see a steady improvement in Average Daily Rate, Occupancy and RevPAR over the past three months. Our select-service, small business owners are uniquely positioned to both remain open and capture emerging travel demand, whatever the shape of the recovery may be. Approximately 85% of our hotels have remained open globally throughout the pandemic, and over 99% of our domestic hotels are open today. Importantly, our economy and midscale brands continue to outperform versus their local markets. We remain committed to supporting our owners during this difficult period, while showing our guests and team members that they can “Count on Us” to put their safety first.”
Revenues declined to $258 million in the second quarter of 2020, compared with $533 million in the second quarter of 2019. The decline includes lower pass-through cost-reimbursement revenues of $94 million, which have no impact on adjusted EBITDA, in the Company’s hotel management business. Excluding cost- reimbursement revenues, revenues declined $181 million reflecting a 54% decline in comparable RevPAR and the impact from hotels temporarily closed due to COVID-19.
The Company generated a net loss of $174 million, or $1.86 per diluted share, in the second quarter of 2020, reflecting $1.71 per diluted share in non-cash impairment charges related to certain intangible assets and $0.18 per diluted share in restructuring and transaction-related costs. Net income in the second quarter of 2019 was $26 million, or $0.27 per diluted share, which included a non-cash impairment charge of $0.34 per diluted share and $0.16 per diluted share in transaction-related, separation-related and contract termination expenses. The decline in net income of $200 million, or $2.13 per diluted share, was primarily due to the impact of the non-cash impairment charges and the revenue declines, which were partially offset by lower volume-related expenses as well as cost containment initiatives, including restructuring actions. 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.
Business Segment Discussion
The following discussion of second quarter operating results focuses on revenue and adjusted EBITDA for each of the Company’s segments.
The Company’s franchised system, which included 7,500 rooms transferred from the hotel management segment related to the CorePoint Lodging asset sales, remained flat globally. Excluding the transfer, franchised net rooms declined 50 basis points globally, reflecting the Company’s removal of approximately 9,000 non-compliant master franchise rooms in China.
RevPAR declined 59% globally, or 53% on a comparable basis, due to the impact of COVID-19 on travel demand. In the U.S., RevPAR declined 52%, or 49% on a comparable basis, and internationally RevPAR declined 76%, or 66% on a comparable basis.
Revenues decreased $149 million compared to second quarter 2019 reflecting the impact of COVID-19 on travel demand globally, while a decline in adjusted EBITDA of $79 million was partially mitigated by lower volume-related expenses as well as cost containment initiatives.
The Company’s managed system decreased 11% globally primarily reflecting the transfer of 7,500 rooms to the hotel franchising segment as a result of CorePoint Lodging asset sales. Excluding the transfer of rooms to the hotel franchising segment, the Company’s managed system grew 1%, reflecting 13% growth internationally, partially offset by a 3% decline in the U.S. primarily due to the loss of rooms that were previously covered by unprofitable hotel management guarantees.
RevPAR declined 69% globally, or 63% on a comparable basis, primarily reflecting a 68% decline in the U.S., or 63% on a comparable basis, and a 72% decline internationally, or 60% on a comparable basis.
Revenues decreased $125 million compared to the prior-year period primarily due to $94 million of lower cost- reimbursement revenues, which have no impact on adjusted EBITDA. Absent cost-reimbursements, revenues declined $31 million due to the unfavorable impact of COVID-19 on travel demand globally, while adjusted EBITDA declined $20 million as the RevPAR impacts were partially mitigated by lower volume-related expenses as well as cost containment initiatives.
Development
As of June 30, 2020, the Company’s hotel system of over 9,000 properties and 813,000 rooms remained flat year-over-year. During the second quarter of 2020, the Company opened 62 new hotels totaling 5,700 rooms, a year-over-year decline of 65% as new construction openings were delayed and conversion volumes were lower.
As expected, the Company’s global retention rate over the last twelve months declined to 93.7% compared to 95.2% during the same period last year due to the Company’s removal of approximately 9,000 non-compliant master franchise rooms in China, as previously disclosed.
The Company’s development pipeline consisted of over 1,300 hotels and approximately 180,000 rooms, a 4% year-over-year room decline, or a 5% decline sequentially, as a result of softer sales activity in the second quarter due to travel restrictions, increased hurdle rates and a more conservative probability factor applied to projects in the pipeline which have not yet secured financing. Approximately 64% of the Company’s development pipeline is international and 76% is new construction, of which 34% have broken ground.
Impairment Charge
The continued disruption to the travel industry resulting from COVID-19 prompted the Company to perform an evaluation and comparison of the carrying value of its assets to their fair value. As a result of this evaluation, the Company recorded a net impairment charge of $206 million ($159 million, net of tax) during the second quarter of 2020 primarily related to the La Quinta tradename. The future cash flows expected to be generated from the La Quinta tradename have not changed materially; rather, the impairment charge was principally attributable to a higher discount rate primarily resulting from increased share price volatility, consistent with the lodging sector and broader equity markets.
Restructuring Charge
In an effort to mitigate the revenue declines resulting from COVID-19 and to further position itself for growth during the recovery period, the Company undertook various restructuring actions that resulted in a charge of $16 million ($13 million, net of tax) during the second quarter. This charge is comprised of $11 million for severance and related benefit costs resulting from the elimination of approximately 180 positions and $5 million of lease-related costs. In combination with the Company’s first quarter COVID-19 related restructuring charge, the Company has now reduced approximately 440 positions and expects to realize $50 million to $55 million of annual savings as a result of these actions.
Cash
During the second quarter of 2020, the Company’s cash balance decreased $85 million to $664 million. The impact of the Company’s franchisee fee deferral program was approximately $67 million during the second quarter. In addition, the Company made $28 million of special-item cash outlays, including restructuring payments, during the second quarter.
Dividends
The Company paid common stock dividends of $8 million, or $0.08 per share, in the second quarter of 2020.
Outlook
The Company’s ability to assess the impact of COVID-19 on its full-year financial results continues to be limited due to the uncertainty in travel demand during the remainder of 2020.
Conference Call Information
Wyndham Hotels will hold a conference call with investors to discuss the Company’s results and outlook on Wednesday, July 29, 2020 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
342-8591 and providing the passcode “Wyndham”. Listeners are urged to call at least five minutes prior to the scheduled start time. An archive of this webcast will be available on the website for approximately 90 days beginning at noon ET on July 29, 2020. A telephone replay will be available for approximately ten days beginning at noon ET on July 29, 2020 at 800 839-5484.
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 9,000 hotels across approximately 90 countries on six continents. Through its network of 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 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 84 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 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,” “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 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 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 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 the acquisition of La Quinta and 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 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 restrictions on share repurchases or the Company’s ability and plans to pay dividends including 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.
As travelers consider summer stays, Wyndham launches new ad campaign with promotion inspiring future trips, reminding travelers: chances are, you’re only 10 minutes from a hotel by Wyndham
PARSIPPANY, N.J. (July 23, 2020) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with 9,300 hotels across approximately 90 countries, is inspiring travelers to book their next trip with its ‘Stay Two Nights, Earn a Free Night’ promotion, offering Wyndham Rewards members a free night – in the form of 7,500 bonus Wyndham Rewards points – when they stay two consecutive nights or more, now through September 10, 2020. The promotion is featured in Wyndham’s latest advertising campaign, reminding travelers that no matter what they’re checking out this summer, a hotel they can count on is about ten minutes away.
Guests who are members of the free-to-join Wyndham Rewards program can book a stay of two consecutive nights or more at www.WyndhamRewards.com/freenight to earn a one-time 7,500 points bonus – enough for a free night at thousands of hotels – upon the completion of their stay. Stays must be booked directly with Wyndham Rewards from July 16 through September 8, 2020 and completed by September 10, 2020. The 7,500 bonus points are additional to any points normally earned for the stay.
“With everyday travelers out there traveling, and vacationers gearing up for road trips this summer and fall, Wyndham is reminding every kind of traveler that our hotels are open, ready to welcome them, and within reach,” said Sheila Schottland, vice president of Brand Marketing at Wyndham Hotels & Resorts. “This promotion, along with our latest ad campaign, offers travelers a chance to consider where their next stay will take them – whether it is a quick car trip to reconnect with their family or a longer vacation to get away from it all – and makes it that much more rewarding with enough Wyndham Rewards bonus points for a free night stay towards future trips.”
Summer travel “intenders” – those who are considering a drive-to summer trip in the coming weeks – can also find the offer promoted in a new advertising campaign. Focused on engaging everyday travelers at the moment they’re looking to book a hotel stay, the campaign builds upon the Company’s previous “10 Minutes from a Hotel by Wyndham” spot. It reminds travelers that with over 6,000 hotels in the U.S., whatever it is they’re checking out in their travels, they can confidently check-in to a hotel by Wyndham. It is currently running across digital channels focused on targeting travelers who are looking to get back out on the road, supported through television, digital video, streaming radio, social media, email, direct response channels, and various website channels.
As the travel landscape evolves in the wake of COVID-19, Wyndham Hotels & Resorts and its brands are committed to the health and safety of guests and team members. The vast majority of the Company’s hotels remain open and are welcoming guests with flexible booking policies and enhanced health and safety protocols through Wyndham’s Count on UsSM initiative. Learn more at www.wyndhamhotels.com/count-on-us.
The ‘Stay Two Nights, Earn One Free’ promotion is available at participating Wyndham hotels. Guests must be members of Wyndham Rewards, which is free to join. To register, book a stay or view full terms and conditions, visit www.WyndhamRewards.com/freenight.
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 30,000 hotels, vacation club resorts and vacation rentals worldwide. Designed for the everyday traveler, members earn a guaranteed 1,000 points with every qualified stay and may redeem points for a wide-range of rewards, including free nights at any of approximately 9,300 hotels or tens of thousands of vacation club resorts and vacation rentals globally through affiliation with Wyndham Destinations (NYSE: WYND) and others. Wyndham Rewards has 83 million enrolled members around the globe. Join for free today at www.wyndhamrewards.com. You’ve earned this. ®
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by number of properties with approximately 9,300 hotels across approximately 90 countries on six continents. Through its network of over 831,000 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, with approximately 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 81 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.
World’s largest hotel franchising company drives expansion across the Indian subcontinent
PARSIPPANY, N.J. (July 7, 2020) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with 9,300 hotels across approximately 90 countries, today unveiled plans to open its first hotels in Nepal and Bhutan, while also announcing the recent opening of the Hawthorn Suites® by Wyndham Dwarka—the first Hawthorn Suites by Wyndham hotel in India.
All three hotels are part of Wyndham’s larger efforts to significantly expand its footprint across the Indian subcontinent and are complemented by additional properties in the region that either recently opened or are slated to open over the next nine months. Wyndham is currently one of the largest international hotel companies in India.
Nikhil Sharma, area director, Eurasia, Wyndham Hotels & Resorts said, “Over the last few years, Bhutan and Nepal have seen a steady increase in tourism, making them ideal destinations for us to expand into. What’s more, they perfectly complement the opportunity and uptick of the midscale market in India, which we’ve strengthened today with the introduction of our Hawthorn Suites by Wyndham brand. As the Indian subcontinent continues making waves in the hospitality industry, Wyndham remains laser focused on tapping into its key markets and fulfilling our mission of making hotel travel possible for all.”
Upcoming hotel openings include:
Ramada by Wyndham Valley Thimpu (Bhutan)
Marking Wyndham’s arrival into Bhutan, the Ramada® by Wyndham Valley Thimpu will offer 41 spacious rooms, including many with panoramic views of the magnificent Himalayas. Tucked in the Thimpu valley by the free-flowing Raidāk River, its location will provide easy access to special events at the Tasichho Dzong, the giant statue of Buddha Dordenma, and the sacred Memorial Chorten site. The hotel is expected to open in March 2021.
Ramada Encore by Wyndham Kathmandu Thamel(Nepal) Wyndham’s first entry in the Himalayan kingdom of Nepal, the Ramada Encore by Wyndham Kathmandu Thamel is situated in the Thamel district in the capital city of Kathmandu, which has been the centre of the tourist industry for over four decades. The hotel will offer 90 tastefully furnished guest rooms with a range of amenities to make for a comfortable stay and a rooftop with a scenic view of the city. The hotel is expected to open in August 2020.
Ramada by Wyndham Mussoorie Mall Road (India) Spread across one acre of land, the Ramada by Wyndham Mussoorie Mall Road will offer 45 rooms all with key necessities for guests to enjoy their time. The hotel will be located at one of the most admired hill station destinations in Northern India, also referred to as the Queen of the Hills, popular amongst leisure as well as business travellers. The hotel is expected to open later this month.
Recent 2020 openings include:
Hawthorn Suites by Wyndham Dwarka (India)
Marking the arrival of the Hawthorn Suites by Wyndham brand in the Indian subcontinent, the Hawthorn Suites by Wyndham Dwarka is an eco-spiritual resort offering 202 spacious guest rooms and is in close proximity to Dwarkadhish Temple, Dwarka Beach and Gomti Ghat. The property, which opened in April 2020, offers expansive outdoor access with an opportunity to focus on wellness and exploring nature.
Ramada by Wyndham Aligarh GT Road (India) A new-construction hotel situated in Aligarh, in the western region of Uttar Pradesh state, the Ramada by Wyndham Aligarh GT Road opened in January 2020 and features 60 contemporary guest rooms, expansive lawn space, and a plethora of amenities. Situated in an ideal location with easy access to the Aligarh Junction Railway Station and Aligarh Bus Stand, the hotel makes a great home base for travel throughout the area.
Ramada Plaza by Wyndham Pune Hinejwadi (India) Situated along the Pune Bangalore Highway, only an hour’s drive away from popular weekend getaways like Lonavala, Khandala, and Lavasa, is the Ramada Plaza by Wyndham Pune Hinejwadi. The hotel, which opened in March 2020, hosts 172 spacious guest rooms and offers an opportunity to explore majestic nearby attractions and outdoor adventures such as the Aga Khan Palace.
Wyndham Hotels & Resorts’ properties around the world participate in Wyndham Rewards®, the world’s most generous rewards program with more than 30,000 hotels, vacation club resorts and vacation rentals globally. 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 Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with 9,300 hotels across approximately 90 countries on six continents. Through its network of over 828,000 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 Inn & Suites®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, The 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 83 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.
World’s largest hotel franchising company details key openings in Turkey, continued global growth
PARSIPPANY, N.J. (July 1, 2020) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with 9,300 hotels across approximately 90 countries, today announced plans to further expand its La Quinta® by Wyndham brand with the addition of two new hotels in Turkey: the 86-room La Quinta by Wyndham Giresun and the 175-room, La Quinta by Wyndham Bodrum.
The new hotels join the previously announced 404-room La Quinta by Wyndham Istanbul Gunesli—the first La Quinta hotel to open outside of the Americas—and are the latest in a string of international signings and openings since Wyndham acquired the brand in May of 2018.
Earlier this year, Wyndham announced plans to open two new La Quinta hotels in New Zealand, marking the arrival of the brand in Asia Pacific; and just last year, announced plans to open eight new La Quinta hotels in the Dominican Republic, four of which are currently under development. They build on the brand’s existing portfolio of 14 hotels throughout Latin America. Globally, the brand has opened 55 new hotels since its acquisition.
“When La Quinta joined the Wyndham Hotels & Resorts family, we saw strong potential to expand the brand internationally and we are delighted to see its continued growth in Europe and around the world,” said Dimitris Manikis, president, EMEA, Wyndham Hotels & Resorts. “These exciting properties on Turkey’s charming coastline support our growth ambition and perfectly complement our other offerings in the market.”
The new additions in Turkey—where Wyndham is the largest international hotel company with over 80 hotels—include two contemporary properties with central locations in the Black Sea coastal town of Giresun, as well as in Bodrum, one of Turkey’s most popular and trendy seaside gateways. Details on the new hotels include:
La Quinta by Wyndham Giresun The 86-room La Quinta by Wyndham Giresun is a stylish waterfront hotel with stunning views of the Black Sea and a wide range of amenities making it an ideal destination for business and leisure trips. The hotel boasts an outdoor pool, a fitness center with Turkish bath and sauna, four on-site restaurants and even a library. The hotel, which opened last month, is located only 3km from the city center, with convenient access to the Ordu-Giresun Airport.
La Quinta by Wyndham Bodrum With stunning views on the Bodrum Peninsula, the 175-room La Quinta by Wyndham Bodrum is a seaside hotel featuring stylish guest rooms, two on-site restaurants and a rooftop bar. The property, slated to open later this month, will include an outdoor pool, sauna and a fitness center to help guests keep active while traveling. Other facilities will include a business center as well as a versatile event space.
La Quinta by Wyndham hotels 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 La Quinta by Wyndham With over 925 destinations globally, the La Quinta by Wyndham brand is a bright spot in every traveler’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 development.wyndhamhotels.com.
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with 9,300 hotels across approximately 90 countries on six continents. Through its network of over 828,000 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 Inn & Suites®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, The 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 83 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.
Builds on recent market debut with new locations in Madrid and Valencia
PARSIPPANY, N.J. (June 25, 2020) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with 9,300 hotels across 90 countries, today announced the expansion of its Ramada® by Wyndham brand in Spain with the upcoming openings of Ramada by Wyndham Madrid Tres Cantos and Ramada by Wyndham Valencia Almussafes.
Following the brand’s successful entry into Spain in late 2019 with Ramada by Wyndham Madrid Getafe, the two new properties are owned by Covivio, a leading European real estate operator, through its subsidiary Covivio Hotels, and managed by hotel management company Hotel Collection International. The hotels build upon Ramada by Wyndham’s broader European portfolio, which includes locations in destinations like Portugal, Italy, Turkey, Greece, Germany, Belgium, the UK and the Netherlands, amongst others.
Christian Michel, vice president, Development, Europe, Wyndham Hotels & Resorts said, “We are extremely pleased with Ramada by Wyndham’s steady growth in Spain and with our continued relationship with Hotel Collection International and Covivio. These latest additions in Madrid and Valencia will enable us to further drive our overall mission of making hotel travel possible for all, as well as offer all travelers more options in two sought after travel destinations.”
Sebastian Lodder, CEO of Hotel Collection International added, “Ramada by Wyndham is an internationally recognized and ever-evolving brand and we are thrilled to be making its presence known across Spain. With the expansion of our two new properties, we look forward to bringing guests from around the world more opportunity to experience our unparalleled hospitality, as well as welcome them to explore the unique destinations in which our hotels are located. We look forward to continuing our growth in this region under the Wyndham brand portfolio.”
Ramada by Wyndham Valencia Almussafes will open its doors on July 1, 2020, completely renovated with all the Ministry of Health of Spain’s required protocols implemented, as well as Wyndham Hotels & Resorts’ Count on Us health and safety measures. The hotel is located minutes from the Rey Juan Carlos Business Park and offers accessibility to the City of Arts & Sciences opera house, science museum, aquarium and much more. Ideal for business and leisure guests, the 133-room hotel features a 24-hour, fully-equipped private gym, a seasonal outdoor swimming pool with a beautiful garden and landscaped sundeck, as well as an on-site restaurant and bar. Three meeting rooms complete with audio-visual capabilities are also available on-site and can accommodate up to 120 conference guests.
Ramada by Wyndham Madrid Tres Cantos is still under development and is scheduled to open in September, 2020. The hotel is located in a corporate location North of Madrid with convenient access to the Euronova Business Park, as well as a nearby train connection to the city centre, making it suitable for those travelling either for business or pleasure. Surrounded by restaurants and conveniently close to the Santiago Bernabeu Stadium, this 61-room contemporary hotel offers guests a fitness centre, an all-day snack bar and three versatile meeting rooms that can accommodate up to 70 guests or 60 banquet guests.
Ramada by Wyndham hotels in Spain 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 Ramada by Wyndham With more than 850 hotels in over 60 countries, global travelers are bound to find Ramada by Wyndham, one of the world’s most recognized hotel brands, wherever their travels take them. Guests choose Ramada to not only sample the world around them but for the brand’s passionate team members and full-service hospitality as well as functional meeting space, comfortable guest rooms, free Wi-Fi, and casual dining options. For more information visit www.ramada.com. Like and follow Ramada on Facebook and Instagram. If you are interested in developing a Ramada by Wyndham hotel, please visit development.wyndhamhotels.com.
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with 9,300 hotels across approximately 90 countries on six continents. Through its network of over 828,000 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 Inn & Suites®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, The 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 83 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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