World’s largest hotel franchising company highlights efforts to elevate brands, serve owners, drive global growth and innovate for guests as part of its mission to make hotel travel possible for all
LAS VEGAS, Sept. 25, 2019 – Wyndham Hotels & Resorts (NYSE: WH) – the world’s largest hotel franchising company with approximately 9,200 hotels across more than 80 countries – outlined plans to advance its position as the world’s leading provider of select-service hotel brands before thousands of its franchisees at its first global conference as an independent hotel company.
With a focus on enhancing returns for its nearly 6,000 franchisees, the Company unveiled several initiatives designed to elevate its brands, deliver incremental resources to its owners, grow its presence and meet the needs of today’s travelers.
“As the world’s largest hotel franchisor, our commitment to making hotel travel possible for all starts with our franchisees,” said Geoff Ballotti, president and CEO of Wyndham Hotels & Resorts. “Together, we are elevating our family of iconic brands through innovation in quality and design, operational efficiency, strategic growth and guest experience to shape not only the future of Wyndham but the legacy of our owners around the world.”
Elevating Economy
Wyndham continues to democratize travel by elevating the economy segment with distinct, meaningful experiences for guests – at an affordable price point – for some of its most iconic brands. On the heels of recent brand-wide redesign efforts for Super 8® by Wyndham and Howard Johnson® by Wyndham, the company unveiled a new look for Days Inn® by Wyndham.
Dawn of a New Days Inn: With its 50th anniversary approaching in 2020, Days Inn – one of the largest brands in the economy segment – unveiled a new interior design package for its 1,400 hotels in the U.S. The new design, aptly named Dawn, takes inspiration from the sun with bright and airy rooms and sun-centric art celebrating the brand’s roots with a modern flair. The brand expects to implement the design standard across its U.S. portfolio in several phases.
Revolutionizing Design and Construction
The Company is prioritizing new-construction growth with the launch of both new and refreshed prototypes designed to lower development costs and capture greater efficiencies, taking a page from the best practices of La Quinta® by Wyndham and the success of the recent Moda prototype launch from Microtel by Wyndham®.
Growing Garden: The Company announced plans to reposition its Wyndham Garden® brand for growth with a new interior and exterior prototype called Arbor, which offers a streamlined, modern aesthetic inspired by nature that is designed to reduce cost-per-key to build.
Dual-Branding La Quinta and Hawthorn Suites® by Wyndham: Wyndham is introducing a new prototype combining its extended-stay Hawthorn Suites brand with La Quinta, designed to streamline development and operational costs while appealing to multiple types of travelers. The dual-brand prototype leverages the newly refreshed room of La Quinta’s Del Sol prototype, which continues to draw developers, with seven new-construction agreements signed in the second quarter.
Reimagining AmericInn® by Wyndham: The Company also debuted a refreshed interior design for AmericInn inspired by the modern lodge look, updating the brand’s contemporary exterior prototype while celebrating its heritage. Together, the interior and exterior designs represent the brand’s fourth-generation prototype.
Driving Global Growth
As international tourism continues to grow, Wyndham is positioning its well-known brands to capitalize on the rising demand for trusted lodging options for all travelers, particularly everyday travelers and the growing global middle class.
New Brands in New Markets: Five Wyndham brands have opened in new markets this year, including Days Inn in New Zealand; Microtel in China; Ramada® by Wyndham in Armenia; Wyndham® in Malaysia; and Wyndham Garden in Argentina, Australia and the Philippines. The Company also signed agreements to introduce Dolce Hotels and Resorts® by Wyndham in Denmark and Vietnam this year, and La Quinta in the Dominican Republic in 2021.
Making its Mark: Since launching just over two years ago as the first soft brand geared toward midscale and upper-midscale hotels, Trademark Collection® by Wyndham continues its rapid growth around the world, adding six new hotels in Canada and its first hotel in Latin America, in Belize, to its more than 100 hotels in North America and Europe.
Growth in Asia: Wyndham is the largest international franchisor in Greater China and recently announced plans to open approximately 500 hotels in China over the next three years, bringing its total to more than 2,000 hotels there by the end of 2022. The Company is also growing rapidly in Southeast Asia and the Pacific Rim, its fastest-growing region, and plans to open three new hotels in Thailand later this year. Additionally, Wyndham added three Ramada hotels in South Korea this year, surpassing 40 hotels in the country.
Digital Technology Evolution
Following its strategic initiative to endorse all of its brands with the “by Wyndham” moniker – one of the largest name changes in the industry’s history – and the evolution of Wyndham Rewards, which brought about innovative, first-to-market partnerships such as DoorDash, Wyndham is leveraging new technology to expand its digital efforts to drive brand recognition and contribution and enhance the guest experience across its portfolio.
Wyndham Wi-Fi: Addressing the ongoing challenge of providing great guest Wi-Fi, Wyndham franchisees now have access to a new bundle of wireless and network services featuring high-quality hardware and equipment at lower costs called Wyndham Wi-Fi. Hoteliers will have access to best-in-class wireless and network equipment, a professional home page, superior Wi-Fi services with consistent signals capable of handling guests’ multi-screen needs, and one-stop shopping for support.
Mobile First: To meet guests where they are – literally, in the palm of their hands – the Company will launch a new mobile app in the spring of 2020 offering streamlined bookings, account management, gamification, and exciting on-property features enabling guests to make the most of their stays. This intuitive, anticipatory app also will provide Wyndham Rewards members with personalized moments woven throughout their journey.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 817,000 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®, Wingate®, AmericInn®, Hawthorn Suites®, Baymont®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers over 77 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. If you are interested in development opportunities, please visit development.wyndhamhotels.com.
La Quinta® by Wyndham uncovers seasonal bleisure trends with latest survey about summer business travel
La Quinta® by Wyndham uncovers seasonal bleisure trends with latest survey Click to Download
PARSIPPANY, N.J.(August 14, 2019) — Summer is peak vacation time for most, but for frequent business travelers it can be a struggle to squeeze in a much-needed vacation between work trips. With its latest “La Quinta Means Business” national survey, La Quinta® by Wyndham — a trusted hotel brand among career commuters for more than 50 years — unveils the unique trends and challenges for business travelers during the summer season and busy back-to-school months.
The survey offers insight on the distinct experience of business travel in the summer, including surviving stuffy conference rooms, being spotted in a bathing suit by coworkers, squeezing in some time for sightseeing and rushing to make it home in time for back-to-school prep. La Quinta makes it easy for business travelers to succeed in every season with amenities like free Wi-Fi, free breakfast, signature comfortable bedding and the ability to earn and redeem rewards points with Wyndham Rewards.
“Summer business trips can be the perfect opportunity to create new travel experiences by squeezing a little leisure time into the schedule,” said Lisa Checchio, chief marketing officer of Wyndham Hotels & Resorts. “By understanding the unique needs of business travelers in the summer – whether that means free, high-speed Wi-Fi to stay connected with kids as they head back to school, a comfy space to recharge between meetings, or the opportunity to earn points they can later redeem on a well-deserved vacation through Wyndham Rewards – La Quinta empowers road warriors to make the most of their summer business trips.”
SURVEY SAYS: SUMMER IS BLEISURE SEASON
La Quinta’s survey tapped into the mindset of today’s business traveler during the busy summer and back-to-school months to determine how the season might impact their decision-making while on the road:
I Need a Vacation
Under the radar: Nearly two-thirds (64%) of business travelers who have extended a trip have done so secretly for personal vacation without telling someone, including their coworkers (32%), boss (26%) and even their own partner (22%)
New territory: More than half (51%) of these business travelers have extended their business trips to explore the destination
‘Tis the sea-sun: For 56% of business travelers, summer is the best time to extend a business trip for a personal vacation
Vacation daze: On average, business travelers extended a trip for three days, with 42% of business travelers extending three to five days
Recharge your batteries: Nearly 3 in 10 (29%) business travelers have skipped out on a meeting or work event to take a nap or do something restful while on a business trip
Heat Wave
It’s getting hot in here: Sixty-five percent of career commuters say that being stuck in a conference room with no air conditioning during a summer business trip would be worse than having to wear a swimsuit in front of colleagues (35%)
Sweat suit: Eighty-two percent of male business travelers are more likely to pack extra clothing on a summer business trip than they would for another season
Look cool, feel cool: Given a choice between dressing well and dressing comfortably, business travelers would rather look cool (53%) than feel cool (47%) on a summer business trip
A cold one: Nearly three in four (74%) business travelers have skipped a work event while on a business trip, 31% of whom did something social with friends instead such as go to a bar or restaurant
On the Home Front
Me time: Forty-three percent of business travelers with children in school have extended a business trip by one to two days specifically to take time for themselves
There in spirit: Nearly all business travelers (95%) with school-age kids miss some school-related activities due to business travel; three in four (75%) business travelers miss activities frequently
Homework helper: While on a business trip, 69% of business travelers stay connected with their children when school is in session to make sure they get their homework done
Pur-ferred travel companion: Three in ten (30%) business travelers with kids and pets say they would prefer to travel with their pet and leave the kids at home
La Quinta by Wyndham’s “La Quinta Means Business” survey series aims to uncover the realities of business travel and the behaviors and quirks that road warriors exhibit as a result in order to better help them succeed while on the road with the signature amenities they need, including free high-speed Wi-Fi, free breakfast, 24/7 coffee and tea, signature comfortable bedding, modern fitness centers, social gathering spaces, and spacious in-room work areas with charging stations. For more information, visit www.lq.com.
The “La Quinta Means Business” survey was conducted by Wakefield Research between June 28 and July 8, 2019, using an email invitation and an online survey among 1,000 U.S. business travelers ages 35–54, defined as those traveling for business 10-plus times per year.
ABOUT LA QUINTA BY WYNDHAM With approximately 915 destinations in North and Latin America, the upper-midscale, pet-friendly La Quinta by Wyndham brand is a bright spot in every travelers’ journey. Whether traveling for business or leisure, guests can rest assured, relax, and recharge thanks to the brand’s Bright Morning Bed®, free Bright Side Breakfast®, spacious in-room work areas, and free high-speed internet. For more information, visit www.lq.com. Like and follow La Quinta on Facebook, Twitter, Instagram and YouTube. For more information on developing a La Quinta by Wyndham hotel, click here.
ABOUT WYNDHAM HOTELS & RESORTS
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 817,000 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®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers over 77 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., July 25, 2019 – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended June 30, 2019. Highlights include:
Revenues increased 23% compared with second quarter 2018, to $533 million.
Net income was $26 million for the second quarter, a 24% increase over the prior-year quarter; adjusted net income was $82 million, a 12% increase over the prior-year quarter.
Diluted earnings per share were $0.27 and adjusted diluted EPS were $0.84.
Adjusted EBITDA increased 27% compared with the prior-year quarter, to $159 million.
Global RevPAR increased 5% year-over-year in constant currency, and increased 40 basis points in constant currency and excluding our 2018 acquisitions and divestitures.
U.S. RevPAR increased 5% year-over-year, and increased 30 basis points excluding our 2018 acquisitions and divestitures.
System-wide rooms grew 3% year-over-year.
Company updates its full-year 2019 outlook.
“We continued to deliver solid results in the second quarter, highlighted by continued organic expansion of our system size and significant growth in adjusted EBITDA,” said Geoffrey A. Ballotti, chief executive officer. “We remain enthusiastic about our domestic and international growth prospects, driven by the strength of our brands and our award-winning Wyndham Rewards loyalty program.”
Revenues were $533 million, compared with $435 million in the second quarter of 2018. Results reflect $98 million of incremental revenues from La Quinta, which the Company acquired in May 2018. Excluding the impact from 2018 acquisitions and divestitures, revenues increased 1% in constant currency, primarily due to higher license, royalty and other fee revenues, partially offset by lower cost-reimbursement revenues as well as the timing of the Company’s global franchisee conference, which was in April last year but will be in September this year.
Net income was $26 million, or $0.27 per diluted share, compared to $21 million, or $0.21 per diluted share, in the second quarter of 2018. 2019 results reflect $40 million of primarily non-cash after-tax expense due to the Company’s intention to exit a legacy hotel-management arrangement that has been unprofitable for it. Prior- year results were impacted by the Company’s spin-off and the acquisition of La Quinta and therefore included substantially higher interest, separation-related and transaction-related expenses.
Adjusted net income was $82 million, or $0.84 per diluted share, compared with $73 million, or $0.73 per diluted share, in the second quarter of 2018. Second quarter earnings comparisons were impacted by the acquisition of La Quinta, higher interest expense and the timing of marketing expenses. Full reconciliations of GAAP results to our non-GAAP adjusted measures for all reported periods appear in the tables to this press release.
Second quarter adjusted EBITDA was $159 million, compared with $125 million in the second quarter of 2018. Management estimates that second quarter results reflect approximately $30 million of incremental adjusted EBITDA from La Quinta. Excluding the impact from 2018 acquisitions and divestitures, adjusted EBITDA increased 5% in constant currency primarily reflecting the growth in license, royalty and other fee revenues, partially offset by the timing of marketing expenses, which suppressed growth by $14 million, or thirteen percentage points. Consistent with the Company’s expectations, second quarter adjusted EBITDA represented 26% of the Company’s projected full-year adjusted EBITDA.
U.S. RevPAR and constant-currency global RevPAR increased a fraction of a point in second quarter 2019 compared to the prior-year period excluding our 2018 acquisitions and divestitures through their anniversary dates, as second quarter 2018 U.S. and global RevPAR benefited by approximately 150 and 80 basis points, respectively, from incremental post-hurricane demand.
As of June 30, 2019, the Company’s hotel system consisted of approximately 9,200 properties and approximately 817,000 rooms, a 3% increase compared with the second quarter of 2018. The Company’s development pipeline consisted of 1,400 hotels and approximately 188,000 rooms, a 10% year-over-year room increase. The Company also increased its pipeline sequentially by 4% compared to first quarter 2019.
Approximately 55% of the Company’s development pipeline is international and 74% is new construction.
Business Segment Discussion
The following discussion of second quarter operating results focuses on revenue and adjusted EBITDA for each of the Company’s segments.
Hotel Franchising
Revenues increased 15% compared to second quarter 2018, including $36 million of incremental revenues from La Quinta. Excluding the impact from 2018 acquisitions and divestitures, revenues increased 3% in constant currency due to higher license, royalty and other fees, partially offset by the timing of the Company’s global franchisee conference, which was in April last year but will be in September this year. Adjusted EBITDA grew 26% to $162 million, including an estimate of approximately $24 million of incremental adjusted EBITDA from the acquisition of La Quinta. Excluding the impact from 2018 acquisitions and divestitures, adjusted EBITDA grew 9% in constant currency reflecting the growth in revenues and the impact of reorganizing certain functions and related expenses into our Corporate segment as a result of our spin-off, partially offset by the timing of marketing expenses, which reduced adjusted EBITDA by $14 million.
Hotel Management
Revenues increased $55 million compared to the prior-year period, reflecting $62 million of incremental revenues from La Quinta (including $55 million of cost-reimbursement revenues). Excluding the impact from the acquisition of La Quinta, revenues declined $7 million primarily due to lower cost-reimbursement revenues, which have no impact on adjusted EBITDA. Adjusted EBITDA increased $8 million compared to the prior-year quarter, reflecting an estimated $6 million of incremental adjusted EBITDA from La Quinta.
Other Items
Share Repurchases and Dividends – The Company repurchased approximately 909,000 shares of its common stock for $50 million in the second quarter. The Company also paid common stock dividends of $28 million, or $0.29 per share, in the second quarter.
Hotel Management Contract Terminations – The Company expects to exit two unprofitable hotel- management arrangements that were initiated in 2012 and 2013. In conjunction with one arrangement that covers 22 hotels and 3,600 U.S. rooms, the Company’s guaranty obligations have been exhausted. The Company expects that this will result in the arrangement, including the Company’s ability to recapture out-of- pocket payments it had made to the hotels’ owner, being terminated. The Company recorded a non-cash impairment expense of $45 million and a $9 million contract termination charge in the second quarter, which were primarily related to the anticipated loss of the recapture opportunity.
In order to terminate the other arrangement, which covers eight hotel properties and 2,500 U.S. rooms, the Company has signed a non-binding letter of intent to make payments representing a significant discount to its remaining potential guarantee exposure, which is currently approximately $70 million. The Company expects to record a contract termination expense in the third quarter related to these future payments.
With the termination of these two arrangements, the Company’s future maximum annual hotel-management guaranty obligations will be reduced from $26 million to $5 million.
Outlook
The Company is updating its outlook for full-year 2019 as follows:
The reduction in forecasted revenue relative to the Company’s earlier outlook is almost entirely due to lower cost-reimbursement revenues, which have no impact on adjusted EBITDA. The forecast for Adjusted EBITDA reflects the substantial progress the Company has made in integrating La Quinta and favorable results at the Company’s owned hotel in Puerto Rico, as well as a modestly softer RevPAR environment than the Company had anticipated. The forecast for adjusted diluted EPS assumes an effective tax rate of 26%, one percentage point lower than previously estimated. The Company is providing an outlook for EBITDA, net income and EPS only on a non-GAAP, adjusted basis because it is unable to predict with reasonable certainty the occurrence or amount of potential adjustments that may arise in the future.
Conference Call Information
Wyndham Hotels will hold a conference call with investors to discuss the Company’s results and outlook on Thursday, July 25, 2019 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 for approximately 90 days beginning at noon ET on July 25, 2019. A telephone replay will be available for approximately ten days beginning at noon ET on July 25, 2019 at 800 283-5758.
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.
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, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 817,000 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®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award- winning Wyndham Rewards loyalty program offers over 77 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. 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. The forward-looking statements contained in this press release include 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, share repurchases and dividends.
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 performance of financial and credit markets, the economic environment for the hospitality industry, operating risks associated with the hotel franchising and management businesses, the impact of war, terrorist activity or political strife, risks related to the acquisition and integration of La Quinta, risks related to our ability to obtain financing and the terms of such financing, risks related to the planned termination of certain hotel-management agreements (which may not be completed on the terms currently anticipated or at all), and the timing and amount of future share repurchases and dividends, as well as the risks described in Wyndham Hotels’ 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. Except as required by law, Wyndham Hotels undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise.
The first Wyndham Garden hotel in Argentina opened its doors this month in Lujan
The first Wyndham Garden hotel in Argentina opened its doors this month in LujánClick to Download
BUENOS AIRES, Argentina, July 12, 2019 — Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,200 hotels worldwide, debuted its upper-midscale Wyndham Garden brand in Luján, Province of Buenos Aires, earlier this month.
The 32-room Wyndham Garden Luján is the 57th Wyndham hotel in Argentina, joining existing hotels under the Wyndham, Dazzler, Esplendor, Howard Johnson, Days Inn and Ramada brands in the country. Wyndham’s Latin American franchise and management company headquarters is also located in Argentina.
“We are proud to bring Wyndham Garden, a brand with a strong and growing presence in the world, to Argentina. Offering seven brands in the country today furthers our mission to make hotel travel possible for all,” said Alejandro Moreno, president and managing director of Wyndham Hotels & Resorts for Latin America and the Caribbean.
The property will be operated by Aadesa Hotel Management, multi-brand operator with more than 15 years of hotel management experience in Latin America. It will be Aadesa’s second Wyndham Hotels & Resorts property, joining the Wyndham Nordelta Tigre Buenos Aires.
“We are very excited to continue working with Wyndham Hotels & Resorts, one of the most important international hospitality companies in the world,” said Arturo Navarro Ithuralde, CEO and Co Founder of Aadesa Hotel Management.
Wyndham Garden Luján, 32 unique rooms offering exceptional views of the polo field and the countryside, is an ideal option for business and leisure getaways and events just minutes from the city. Honoring the brand slogan “Relax, you are here,” this new property offers tennis and polo courts, a heated indoor / outdoor pool, a gym, recreational activities and event rooms. It also offers a sophisticated dining experiences, with a diverse and varied menu in its “La Perdiz” restaurant.
Wyndham Garden Luján is the ideal space for corporate, social and incentive events in an environment designed to offer an escape for those seeking to connect with nature, outside the hustle of the city.
All Wyndham brands in Argentina participate in Wyndham Rewards®, the revolutionary and easy-to-use loyalty program that offers more than 75 million members a generous point structure and the possibility of exchanging for free nights. For more information or to join, visit: http://www.wyndhamrewards.com/.
About Wyndham Garden
Travel isn’t always easy, but that’s where Wyndham Garden® comes in. Designed with a lens on the little details, Wyndham Garden offers guests a smart and nurturing hotel experience to help them travel at ease. Hotels include flexible meeting spaces, inviting lobbies, welcoming lounges and complementary high speed internet access. With a strong and growing footprint around the world, including many hotels conveniently located near major airports, Wyndham Garden brings a carefree convenience and peace of mind to both business and leisure travelers escaping the hustle and bustle. Follow us on Facebook.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 812,000 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®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers over 75 million enrolled members the opportunity to redeem points at tens of thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com
ABOUT AADESA HOTEL MANAGEMENT
Aadesa Hotel Management is the leading multi-brand operator in Latin America with more than 15 years of experience in the hospitality industry that operates hotels in the region. With more than 20 hotels in its portfolio, Aadesa Hotel Management is fully dedicated to all aspects of each of the properties, generating for owners and investors a profitability above the market average.
Will Host Conference Call and Webcast at 8:30 a.m. ET
PARSIPPANY, N.J., July 3, 2019 – Wyndham Hotels & Resorts (NYSE: WH) announced today that it will report second quarter 2019 results on Thursday, July 25, 2019. Geoff Ballotti, President and Chief Executive Officer, and David Wyshner, Chief Financial Officer, will host a call with investors at 8:30 a.m. ET that morning to discuss the Company’s results and business outlook.
Listeners can access the webcast live through the Company’s website at www.investor.wyndhamhotels.com. The conference call may also be accessed by calling 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 for approximately 90 days beginning at noon ET on July 25, 2019. A telephone replay will be available for approximately ten days beginning at noon ET on July 25, 2019 at 800 283-5758.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 812,000 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®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers over 75 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.
Inks deal to introduce brand to Dominican Republic with eight new hotels;
Opens nine new hotels in U.S. in second quarter to date inspired by innovative Del Sol prototype
The recently-opened La Quinta Inn & Suites by Wyndham San Luis Obispo Downtown, owned by Andrew Firestone of Stone Park Capital, combines the brand’s Del Sol prototype with local architectural style, including a unique rooftop pool with sweeping views. Click to Download
NEW YORK, N.Y. (June 3, 2019) – La Quinta by Wyndham – celebrating one year as part of Wyndham Hotels & Resorts, the world’s largest hotel franchising company – showcases strong progress as it continues to expand its portfolio of hotels, today announcing plans to introduce its upper-midscale flag to the Caribbean for the first time while welcoming an additional nine new hotels to its growing U.S. portfolio.
“Now armed with Wyndham’s substantial scale, distribution and resources, La Quinta by Wyndham is just beginning to scratch the surface of its growth potential,” said Tom Barber, Chief Global Development Officer. “We’re seeing increased interest from developers and guests around the world as we expand the brand in strategic markets, leveraging our scale and global reach to capitalize on the brand’s international potential in destinations with strong demand for upper-midscale lodging – like the Dominican Republic – meeting the needs of the growing traveling class of 280 million households seeking trusted, value-driven travel experiences.”
Dominican Republic Debut
The development agreement with Caribbean developer Profusion Group marks the first executed deal outside of the U.S. for La Quinta by Wyndham since Wyndham acquired the brand and outlined its strategic international expansion plans.
The newly signed deal calls for eight new construction La Quinta by Wyndham hotels in the Dominican Republic over the next five years, four of which are slated to open in 2021 and will be managed by Wyndham’s growing international management arm. The new hotels will open in top destinations with emerging need for select-service accommodations as alternatives to the island’s upscale all-inclusive resorts, as well as in up-and-coming cities with growing hotel supply needs.
Barber added: “With a top-performing Caribbean economy and millions of annual visitors, the Dominican Republic attracts a variety of travelers seeking the exceptional value, service and quality for which La Quinta by Wyndham is known in the U.S. We are committed to working with passionate, like-minded partners like Profusion Group to introduce the brand to new markets – and new travelers – around the world.”
“The Dominican Republic’s leading position in the Caribbean’s hospitality sector, combined with Wyndham Hotels & Resorts’ leadership team, a strong and sustainable economy and growing middle class will add to La Quinta by Wyndham’s fast growing footprint,” said Edward De Valle II, CEO of Profusion Group.
The agreement complements the brand’s existing portfolio of 14 hotels in Latin America and the Caribbean. In early 2018, the brand debuted in Santiago, Chile, and León, Mexico.
Fast-Growing Footprint
La Quinta by Wyndham continues its growth in the U.S., welcoming nine new hotels in April and May 2019 including locations in Branson, Missouri; Flagstaff, Arizona; Spring and San Antonio, Texas; Perry and Brunswick, Georgia; as well as Clovis, San Bernardino and San Luis Obispo, California. Since its acquisition one year ago, the brand has executed nearly 30 franchise agreements and opened more than 20 hotels as part of the Wyndham Hotels & Resorts family.
New construction development is a major force behind the brand’s growth trajectory, accounting for approximately 90 percent of the 260 hotels in its pipeline as of March 31, 2019. Much of that growth is anchored by the brand’s Del Sol prototype, which combines dynamic design elements with guest-centric offerings while helping to maximize revenue-per-square-foot for developers. As part of its comprehensive new construction growth strategy, Wyndham Hotels & Resorts is applying La Quinta’s design expertise to its other brands, starting with economy leader Microtel by Wyndham which announced its new Moda prototype design earlier this year.
In April, the brand was successfully integrated to Wyndham’s cloud-based, state-of-the-art technology platforms in what Wyndham Hotels & Resorts believes was one of the largest same day migrations in the history of the hospitality industry. It was also integrated into the award-winning Wyndham Rewards loyalty program, adding 13 million new members and growing membership by approximately 20% to 75 million members.
The brand also launched its first integrated marketing campaign since it was acquired by Wyndham Hotels & Resorts, “Tomorrow You Triumph,” which captures business travelers’ unique experiences, highlighting La Quinta’s key business amenities that help deliver what guests need to succeed while traveling. The first national television spot, “Screensaver,” began airing in early April and hones in on the benefits Wyndham Rewards loyalty members can reap just by staying with La Quinta.
ABOUT PROFUSION GROUP
Profusion Group is a company dedicated to the development, investment and asset management in the Tourism and Hospitality sector. The firm’s target markets are concentrated in the Caribbean and North Latin America (LACAR) with a primary emphasis in the Dominican Republic. Through its highly qualified professional team, Profusion Group seeks to generate value in each of its activities, thus maximizing risk-adjusted returns for its investors.
ABOUT LA QUINTA BY WYNDHAM
With more than 915 destinations in North and Latin America, the upper-midscale La Quinta by Wyndham brand is a bright spot in every travelers’ journey. Whether traveling for business or leisure, guests can rest assured, relax, and recharge thanks to the brand’s Bright Morning Bed®, free Bright Side Breakfast®, spacious in-room work areas, pet-friendly rooms and free high-speed internet. For more information, visit www.lq.com. Like and follow La Quinta on Facebook, Twitter, and YouTube. For more information on developing a La Quinta by Wyndham hotel, click here.
ABOUT WYNDHAM HOTELS & RESORTS
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 812,000 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®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers over 75 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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Located on the extraordinary Ambergris Caye, 38-suite adults-only resort marks
Wyndham Hotels & Resorts’ 26TH managed hotel in Latin America and the Caribbean
PARSIPPANY, N.J., May 9, 2019 ‒ Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,200 hotels across more than 80 countries, today announced the arrival of its Trademark Collection® by Wyndham soft-brand to Latin America and the Caribbean with the addition of the Costa Blu Beach Resort in Belize.
Located seven miles north of San Pedro Town on the scenic Ambergris Caye, the exclusive, 38-suite, adults-only beach-front resort is located in one of the region’s most sought after vacation destinations and is just offshore of the Belize Barrier Reef, the second largest barrier reef in the world and a UNESCO World Heritage Site. The resort is owned by Sandy Point Group and will be managed by Wyndham Hotels & Resorts, making it the company’s 26th managed property in the region.
Said Alejandro Moreno, Wyndham Hotels & Resorts president and general manager for Latin America and the Caribbean: “With nonstop flights from 17 cities in seven countries, on seven international airlines, getting to Belize has never been easier. What’s more, the latest numbers released by Belize Tourism Board, show that the revenue generated in the accommodations sector has increased every year over the past seven years. Given the wealth of opportunity, we’re thrilled to be opening our first managed Trademark in a place that’s not only beautiful but also growing in demand.”
With more than 100 hotels globally, Trademark Collection by Wyndham is a soft-branded, independently-minded collection of upper-midscale and above properties. Just as no two travelers are alike – every Trademark hotel is distinctive, taking on the character of the place in which they’re built. Among just some of the notable hotels in the collection are The INFINITY Hotel & Conference Center in Munich, Germany, the HYPERION Hotel Basel in Basel, Switzerland, as well as notable American locations like the Galt House Hotel in Louisville, Ky., Ravel Hotel in Long Island City, N.Y., and the Zermatt Utah Resort & Spa in Midway, Utah.
Costa Blu Beach Resort, a Trademark Collection by Wyndham hotel, is adults-only and offers guests a unique experience where tranquility, relaxation and leisure are the main attractions. Resort amenities include an on-site restaurant, seaside beach bar, outdoor pool, spa services and complimentary paddleboards and kayaks for a quick ride to explore the natural wonder of Ambergris Caye. Featuring large private balconies that overlook the Caribbean Sea, all suites come fully equipped with a kitchenette, mini refrigerator, microwave, coffee maker, 40″ flat screen cable TV and Wi-Fi, among other amenities.
“We are very excited to be partnering with Wyndham Hotels & Resorts to bring an internationally recognized brand to Belize and the region.” said Mary Dahlquist, chief operations officer of Sandy Point Group. “With their tremendous global footprint, award-winning rewards program and extensive hotel and resort management experience, we’re confident that partnering with a world-class organization like Wyndham will not only elevate Costa Blu Beach Resort but also help us drive increased exposure to travelers around the world.”
All Trademark hotels participate in Wyndham Rewards®, 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, gift cards, merchandise and more. Learn more at www.wyndhamrewards.com.
About Trademark Collection by Wyndham Each of Trademark Collection by Wyndham’s upper-midscale-and-above hotels around the world – from Germany and Switzerland to New York and Florida – boast three common attributes: character, charm, and individuality. Launched in 2017, Trademark 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, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 812,000 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®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards® loyalty program offers over 75 million enrolled members the opportunity to redeem points at tens of thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.
About Sandy Point Group
The Sandy Point group of companies in Belize, Central America, is the best choice for amazing real estate ownership opportunities. Boasting the largest group of successful and beautiful resort projects on Ambergris Caye, Belize (named a Top Island Destination multiple years in a row), the Sandy Point group of companies provides clients with expert in-house services of real estate sales, property management and real estate commercial development. Visit sandypointresorts.com to find more information about the award-winning Sandy Point Resorts.
La Quinta by Wyndham and revered entrepreneur Robert Herjavec uncover what makes today’s business traveler tick with newly commissioned survey
PARSIPPANY, N.J.(May 2, 2019) — What does it take for today’s business traveler to make the most of their time on the road and experience triumphant trips? La Quinta by Wyndham — a trusted hotel brand among career commuters for more than 50 years — along with esteemed entrepreneur and investor on the hit television series Shark Tank, Robert Herjavec, today unveiled the behaviors, quirks and realities business travelers face with the brand’s first-ever “La Quinta Means Business” national survey.
In its new survey, La Quinta sheds light on burning business travel questions, including how many travelers actually unpack their suitcases, the latest they’ve stayed up preparing for meetings, the alarming number of people who have stocked up at the hotel breakfast bar for later and, yet, the number of business travelers who experienced loud, embarrassing stomach grumbles during a meeting. La Quinta is using these insights to help guests succeed while on the road with the signature amenities they need, including free high-speed Wi-Fi, free breakfast, 24/7 coffee and tea, signature comfortable bedding, modern fitness centers, spacious in-room work areas with charging stations and social gathering spaces.
“La Quinta is a longtime champion of business travelers, and hearing directly from this group allows us to better understand what motivates them and makes them tick so we can support them in the ways they need it most,” says Lisa Checchio, chief marketing officer of Wyndham Hotels & Resorts. “Business trips are opportunities for travelers to triumph in their careers — and we want to be there every step of the way. Not only do our hotels help these guests prepare with amenities like free Wi-Fi, breakfast and a great night’s sleep, but they also offer the expanded opportunity to earn and accumulate valuable loyalty points for their hard work and redeem them for sought-after perks like free nights through our award-winning Wyndham Rewards program.”
Few understand how to succeed in business, in life and on the road quite like Robert Herjavec. Traveling more than 100 days a year and spending nearly 300 hours in the air annually, Herjavec is the definition of a road warrior with unique insight on the idiosyncrasies of business travel.
“I’m constantly traveling for business, so it’s important that every facet of my travel experience, especially my hotel, helps me make the most of my most valuable resource: time,” says Herjavec. “I’m thrilled to work with La Quinta by Wyndham, a brand that understands the unique challenges business travelers face and offers the essentials we need to succeed.”
SURVEY SAYS: ALL IN A DAY’S WORK
La Quinta’s survey tapped into business travelers’ mindsets, how they maximize their hotel stays, how they amp up for a big day and more:
Home away from home
The bare necessities: Sixty-four percent of business travelers think it would be harder to go without high-speed Wi-Fi than clean underwear on a business trip
A type A traveler: Forty percent of business travelers unpack their suitcases and put things in the closet
or dresser
Rest assured: Forty-three percent of business travelers married or in a relationship prefer to sleep in a hotel bed they have all to themselves the night before a big meeting
Road fuel
But first, coffee: Thirty-four percent of business travelers say drinking coffee or tea is one of the most important ways to prepare for work while traveling
Deep pockets: Nearly four in five (79%) business travelers have stocked up on food from the hotel breakfast bar to eat later in the day
Hungry for success:More than a third (35%) of business travelers have had their stomachs grumble during a meeting or presentation
The hangover: More than 1/4 of male business travelers (28%) have been hungover during a meeting or presentation while on a business trip compared to 14% of female business travelers
Points & priorities
Paw-ssociates: Thirty percent of business travelers think that finding care for their pet(s) is among the biggest hassles to deal with when preparing to travel for business, while 23% think that finding care for their child(ren) is among the biggest hassles.
Happy birthday to me: Eighty-one percent of business travelers say they’ve missed a special event, such as birthdays or holidays, due to business travel
Loyal as the day is long: The majority of business travelers (59%) say they’d never stay in a hotel when traveling for work where they could not earn rewards points
The inaugural “La Quinta Means Business” survey comes on the heels of the brand’s first integrated marketing campaign since it was acquired by Wyndham Hotels & Resorts in May 2018 and joined the Wyndham Rewards loyalty program. The new campaign, “Tomorrow You Triumph,” captures business travelers’ unique experiences, mindsets and challenges, highlighting La Quinta’s key business amenities that help deliver what guests need to prepare, relax and succeed while traveling. The first national television spot, “Screensaver,” began airing in early April and hones in on the benefits Wyndham Rewards loyalty members can reap just by staying with La Quinta.
For more information, visit www.lq.com. The “La Quinta Means Business” survey was conducted by Wakefield Research between March 13 and March 19, 2019, using an email invitation and on online survey among 1,000 U.S. business travelers ages 35–54, defined as those traveling for business 10-plus times per year.
ABOUT LA QUINTA BY WYNDHAM With more than 915 destinations in North and Latin America, the upper-midscale, pet-friendly La Quinta by Wyndham brand is a bright spot in every travelers’ journey. Whether traveling for business or leisure, guests can rest assured, relax, and recharge thanks to the brand’s Bright Morning Bed®, free Bright Side Breakfast®, spacious in-room work areas, and free high-speed internet. For more information, visit www.lq.com. Like and follow La Quinta on Facebook, Twitter, and YouTube. For more information on developing a La Quinta by Wyndham hotel, click here.
ABOUT WYNDHAM HOTELS & RESORTS
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 812,000 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®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers over 75 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., April 30, 2019 – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended March 31, 2019. Highlights include:
Revenues increased 55% compared with first quarter 2018, to $468 million.
Net income was $21 million for the first quarter; adjusted net income was $51 million.
Diluted earnings per share were $0.22 and adjusted diluted EPS were $0.52.
Adjusted EBITDA increased 21% compared with the prior-year quarter, to $111
Global RevPAR increased 7% year-over-year, and 1% in constant currency and excluding our 2018 acquisitions and
U.S. RevPAR increased 13% year-over-year, and 1% excluding our 2018 acquisitions and divestitures.
System-wide rooms grew 12% year-over-year, and 3% excluding our 2018 acquisitions and divestitures.
Company re-affirms its previous full-year 2019
“Our first quarter results were consistent with our expectations and included double-digit growth in adjusted EBITDA despite our decision to incur a higher proportion of our 2019 marketing expenses in the early part of the year,” said Geoffrey A. Ballotti, chief executive officer. “We remain enthusiastic about our prospects for growth, the synergies we expect from the La Quinta acquisition, and our leading presence in the economy and midscale segments of the lodging industry.”
Revenues were $468 million, compared with $302 million in the first quarter of 2018. Results reflect $169 million of incremental revenues from La Quinta. Excluding the impact from 2018 acquisitions and divestitures, revenues were consistent with last year in constant currency, primarily due to higher license, royalty and other fees, offset by lower cost-reimbursement revenues.
Net income was $21 million, or $0.22 per diluted share, compared to $39 million, or $0.40 per diluted share, in the first quarter of 2018. Prior-year results predate the Company’s spin-off and the acquisition of La Quinta and therefore included substantially lower separation-related, interest and corporate expenses.
Adjusted net income was $51 million, or $0.52 per diluted share, compared with $55 million, or $0.55 per diluted share, in the first quarter of 2018. First quarter earnings comparisons were impacted by the acquisition of La Quinta, higher interest expense, the timing of marketing expenses and the absence of $4 million of net hurricane-related insurance proceeds received during first quarter 2018. The timing-related increase in marketing expenses alone, measured relative to marketing, reservation and loyalty revenues, reduced first quarter 2019 adjusted net income by $12 million or $0.12 per diluted share. Full reconciliations of GAAP results to our non-GAAP adjusted measures for all reported periods appear in the tables to this press release.
First quarter adjusted EBITDA was $111 million, compared with $92 million in the first quarter of 2018. Management estimates that first quarter results reflect approximately $33 million of adjusted EBITDA from La Quinta. Excluding the impact from 2018 acquisitions and divestitures, adjusted EBITDA decreased 13% in constant currency, primarily due to the timing of marketing expenses, which suppressed growth by 16 percentage points, and the absence of the net hurricane-related insurance proceeds received in first quarter 2018, which suppressed growth by 4 percentage points.
Consistent with the Company’s expectations, first quarter adjusted EBITDA represented 18% of the Company’s projected full-year adjusted EBITDA.
As of March 31, 2019, the Company’s hotel system consisted of approximately 9,200 properties and approximately 812,000 rooms, a 12% increase compared with the first quarter of 2018. Room count grew 3% year-over-year, excluding our 2018 acquisitions and divestitures. The Company’s development pipeline consisted of 1,400 hotels and approximately 181,000 rooms, a 23% year-over-year room increase, including over 25,000 La Quinta pipeline rooms and the removal of 2,000 Knights Inn pipeline rooms. The Company also increased its pipeline sequentially by 1% compared to fourth quarter 2018. Approximately 54% of the Company’s development pipeline is international and 73% is new construction.
Business Segment Discussion
The following discussion of first quarter operating results focuses on revenue and adjusted EBITDA for each of our segments.
Hotel Franchising
Revenues increased 33% compared to first quarter 2018, including $61 million of incremental revenues from La Quinta. Excluding the impact from 2018 acquisitions and divestitures, revenues increased 4% in constant currency, due to higher license, royalty and other fees. Adjusted EBITDA grew 31% to $113 million, including an estimate of approximately $26 million of adjusted EBITDA from the acquisition of La Quinta. In constant currency and excluding the impact from 2018 acquisitions and divestitures, adjusted EBITDA grew 4%, reflecting the growth in revenues and lower operating expenses, partially offset by the timing of marketing expenses, which reduced adjusted EBITDA by $13 million.
Hotel Management
Revenues increased $98 million compared to the prior-year period, reflecting $108 million of incremental revenues from La Quinta (including $97 million of cost-reimbursement revenues). Excluding the impact from the acquisition of La Quinta, revenues declined $10 million primarily due to lower cost-reimbursement revenues, which have no impact on adjusted EBITDA. Adjusted EBITDA was unchanged compared to the prior-year quarter, reflecting an estimate of approximately $7 million of adjusted EBITDA from La Quinta and the absence of $4 million of net hurricane-related insurance proceeds received in first quarter 2018.
Other Items
Share Repurchases – The Company repurchased approximately 874,000 shares of its common stock for $44 million in the first quarter.
La Quinta Integration – Earlier this month, the Company completed the last major milestones in its integration of La Quinta, migrating the brand’s more than 900 hotels to Wyndham’s outsourced, cloud-based central reservation and property management systems and adding La Quinta to the Wyndham Rewards loyalty program. The Company now estimates that annual synergies from the La Quinta acquisition will be $64 million to $70 million and that it will reach full run-rate synergies in third quarter 2019.
Outlook
The Company is reaffirming the following outlook for full-year 2019:
Revenues of $2.11 billion to $2.16 billion, an increase of 13% to 16%.
Adjusted net income of $301 million to $313
Adjusted EBITDA of $605 million to $620 million, a year-over-year increase of 19% to 22%.
Rooms growth of 2% to 4%.
Organic RevPAR growth of 1% to 3% in constant
The Company increased its outlook for adjusted diluted EPS by two cents, to $3.07 to $3.19, based on an adjusted share count of 98.2 million, which reflects first quarter share repurchases and excludes future repurchases. The Company is providing an outlook for net income, EBITDA and EPS only on a non-GAAP, adjusted basis because it is unable to predict with reasonable certainty the occurrence or amount of potential adjustments that may arise in the future.
Conference Call Information
Wyndham Hotels will hold a conference call with investors to discuss the Company’s results and outlook on Tuesday, April 30, 2019 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 for approximately 90 days beginning at noon ET on April 30, 2019. A telephone replay will be available for approximately ten days beginning at noon ET on April 30, 2019 at 800 374-0934.
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.
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, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 812,000 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®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award- winning Wyndham Rewards loyalty program offers over 75 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. 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. The forward-looking statements contained in this press release include 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, share repurchases and dividends.
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 performance of financial and credit markets, the economic environment for the hospitality industry, operating risks associated with the hotel franchising and management businesses, the impact of war, terrorist activity or political strife, risks related to our spin-off as a newly independent company, risks related to the acquisition and integration of La Quinta, risks related to our ability to obtain financing and the terms of such financing, and the timing and amount of future share repurchases and dividends, as well as the risks described in Wyndham Hotels’ 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. Except as required by law, Wyndham Hotels 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 5, 2019 /PRNewswire/ — Wyndham Hotels & Resorts (NYSE: WH) announced today that it will report first quarter 2019 results on Tuesday, April 30, 2019. Geoff Ballotti, President and Chief Executive Officer, and David Wyshner, Chief Financial Officer, will host a call with investors at 8:30 a.m. ET that morning to discuss the Company’s results and business outlook.
Listeners can access the webcast live through the Company’s website at www.investor.wyndhamhotels.com. The conference call may also be accessed by calling 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 for approximately 90 days beginning at noon ET on April 30, 2019. A telephone replay will be available for approximately ten days beginning at noon ET on April 30, 2019 at 800 374-0934.
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 810,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both 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®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers more than 70 million enrolled members the opportunity to redeem points at tens of thousands of hotels, vacation club resorts and vacation rental properties globally. For more information, visit www.wyndhamhotels.com.
