London, 7th February 2019 – For those wishing to truly immerse themselves into local culture, arts and festivities, Carnival is the perfect time to explore many cities across the world. With over 9,000 hotels in more than 80 countries, Wyndham Hotels & Resorts has picked a selection of hotels as the perfect base to join this year’s celebrations. From the world’s renowned extravaganza of Rio de Janeiro Carnival, to the iconic Mardi Gras in New Orleans, Wyndham’s hotels are there to welcome guests every step of the way.
Mardi Gras, New Orleans (US): 22nd February – 6th March
Mardi Gras in New Orleans is notorious for being an unforgettable, energetic celebration of culture. This Carnival gives tourists the chance to celebrate like locals, dress up in costume, eat famous Southern cuisine and catch colourful Mardi Gras beads through the bustling crowds. With many activities centred on the lively Bourbon Street, Wyndham New Orleans French Quarter is the perfect base for travellers, situated just one block from the action. Guests staying at Wyndham New Orleans French Quarter on Mardi Gras day receive a King Cake and beads to ensure they are festival-ready. Following an exhilarating day of celebrations, guests can unwind in the comfort of their room with breath-taking views of the Mississippi River or French Quarter and enjoy dinner at Deuce McCallister’s Ole Saint Kitchen & Tap, combining the local flavours and culinary expertise of the Southern hospitality.
Room rates, from 22ndFebruary to 6th March start from approximately £120 per room per night based on two people sharing. Breakfast included and subject to availability*
Rio de Janeiro (Brazil): 2nd– 9th March
Widely considered as the biggest Carnival in the world, the streets of Rio de Janeiro boast an electrifying atmosphere during the vibrant week-long party which sees the streets filled with revellers, floats and iconic samba dancers in the lead-up to Lent.
Wyndham Rio de Janeiro Barra offers Carnival goers a beautiful beachside hotel retreat from the hustle and bustle of Carnival life. Guests can embrace the tranquillity of the five idyllic pools and blissful spa services and the on-site restaurant offers delicious round-the-clock dining from a variety of international favourites.
For individuals wishing to be fully immersed in the nightlife Rio has on offer during Carnival week, Days Inn by Wyndham Rio de Janeiro Lapa is the ideal base. Centrally located between the vibrant Santa Teresa neighbourhood and Guanabara Bay coast, guests can experience the Samba school parades and local festivities in the heart of the Carnival before retiring for the night in comfort at the hotel.
Room rates during Carnival, for a minimum of 4 days from 1st-5th March 2019 at Wyndham Rio de Janeiro Barra, start from approximately £1,264 based on two people sharing. Breakfast included and subject to availability*
Room rates during Carnival, from 1st March 2019 at Days Inn by Wyndham Rio de Janeiro Lapa, start from approximately £105 per room per night based on two people sharing. Subject to availability*
Torres Vedras, Lisbon (Portugal): 1st-6th March
The biggest event of the regions calendar, Carnival in Torres Vedras brings friends and families of the surrounding areas together for a week of festivities. The theme this year is “Made in Portugal” and guests can expect representation of well-known characters and football in the highly-anticipated event.
Staying at Dolce by Wyndham CampoReal Lisboa will allow guests a tranquil retreat away from the upbeat setting of the Carnival. The serenity of the full-service spa offers the opportunity to unwind and guests wishing to explore the area further can explore the local wineries and surrounding countryside on horseback.
Room rates during Carnival start from approximately £250 per room per night based on two people sharing a Deluxe room. A special Carnival package includes two nights’ accommodation with breakfast, a Carnival buffet dinner and transfers to and from the Carnival grounds. Subject to availability*
Sitges, Barcelona (Spain): 28th February – 6th March
The Sitges Carnival party in Barcelona is one of the greatest celebrations in Spain. The popular seaside resort of Sitges is famous for its flamboyant parades showcasing its vibrant culture and traditions. Dolce by Wyndham Sitges offers its guests the opportunity to take part in the energetic festivities knowing they have a safe haven to return to at the end of a long day. Individuals can also discover Catalonia’s rich culinary traditions at one of the hotels seven distinct restaurants and bars. Following a day dancing and celebrating in the streets of Sitges, guests can enjoy a glass of crisp white wine at the Bar Malvasía with sea views or savour a delicious dinner menu at the elegant Restaurant Esmarris.
Room rates during Carnival, from 28th February 2019 start from approximately £108 per room per night based on two people sharing. Subject to availability*
Cologne (Germany): 28th February – 6th March
A contemporary retreat in the heart of one of Germany’s largest and oldest metropolises, Cologne, Wyndham Koeln acts as the perfect base for individuals visiting the parades, balls and stage shows of this tradition celebration, dating back to the 1800s. The six-day street Carnival, known as “Crazy Days” sees locals celebrating, singing and dancing in the halls, pubs and restaurants of Cologne. Each of the 131 bright and modern guest rooms welcomes guests with a comfortable bed, HDTV and a tempting breakfast buffet each morning to fuel them for the day of celebrations ahead.
Room rates during Carnival, from 28th February 2019 start from approximately £160 per room per night based on two people sharing. Subject to availability*
Nice (France): 16th February – 2nd March
More than 1,000 dancers and musicians from all over the world will line the streets of Nice for the annual magical Carnival. Traditional flower covered floats travel through the crowds and the flower battle that follows is a lively and colourful celebration on the French Riviera. Situated in the city centre, Days Inn Nice Centre, boasts a panoramic rooftop terrace and a great location for Carnival goers to rest following a long day celebrating.
Room rates during Carnival, from 16th February 2019 start from approximately £34 per room per night based on two people sharing. Subject to availability*
Basel (Switzerland): 11th -14th March
Often known as the heart of the creative energy of the city, Basel Carnival is a musical festivity that combines unique music and traditional Swiss costumes with artistic performances over three upbeat days. Part of the Trademark Hotel Collection by Wyndham, Hyperion Basel allows Carnival goers the chance to stay in style. The high-rise hotel features an eye-catching architecture, 224 guest rooms with panoramic views of the city and the Sky Lounge, an ideal spot for a post-Carnival cocktail.
Room rates during Carnival, from 11th March 2019 start from approximately £221 per room per night based on two people sharing. Subject to availability*
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with more than 9,000 hotels across more than 80 countries on six continents. Through its network of over 798,000 rooms appealing to the everyday traveller, 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 programme offers over 59 million enrolled members the opportunity to redeem points at thousands of hotels, condominiums and holiday homes globally. For more information, visit www.wyndhamhotels.com.
For more information please contact:
Grifco PR for Wyndham Hotels & Resorts EMEA:
Claire Buchanan, Charlotte Rous, Millie Emsley and Maisie Newman on
PARSIPPANY, N.J., Jan. 14, 2019 – Wyndham Hotels & Resorts (NYSE: WH) announced today that it will report fourth quarter and full-year 2018 results on Wednesday, February 13, 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 February 13, 2019. A telephone replay will be available for approximately ten days beginning at noon ET on February 13, 2019 at 800 283-8486.
ABOUT WYNDHAM HOTELS & RESORTS
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with more than 9,000 hotels across more than 80 countries on six continents. Through its network of over 798,000 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 over 59 million enrolled members the opportunity to redeem points at thousands of hotels, condominiums and holiday homes globally. For more information, visit www.wyndhamhotels.com.
“Confidence is on the rise at Wyndham Hotels & Resorts – not just among the executive team, but with franchisees who feel pretty good about its direction.” Read Full Story
Steady flow of new construction openings in U.S. boosts brand’s footprint in first full quarter under Wyndham Hotels & Resorts
The brand new La Quinta Inn & Suites Suites Opelika-Auburn in Opelika, Ala., was one of seven new La Quinta by Wyndham hotels to open in Q3 2018.Click to Download
PARSIPPANY, N.J.(Nov. 13, 2018) – Wyndham Hotels & Resorts, the world’s largest hotel franchisor with more than 9,000 hotels and 20 iconic brands, bolstered its leading network of midscale offerings in the third quarter of 2018 and strengthened the presence of its La Quinta by Wyndham brand with the opening of seven hotels across the U.S.
The latest La Quinta additions in South Jordan and Kanab, Utah; Opelika and Tuscaloosa, Ala.; Aberdeen, Md.; Duncanville, Texas; and Columbus, Miss., bring the brand’s growing U.S. footprint to nearly 900 hotels. Six of the seven are newly built destinations, signifying Wyndham’s strategic efforts to drive hotel consistency and quality through new-construction growth, as well as indicating continued keen interest among hotel owners to add new La Quinta locations to their portfolios.
La Quinta’s roster of openings in its first full quarter since being acquired by Wyndham earlier this year demonstrates the Company’s steadfast commitment to expanding its newest flag in key markets, largely through new construction. Further propelling the brand’s growth, Wyndham executed 10 La Quinta franchise agreements between July 1 and September 30, 2018, nine of which were new construction deals. As of September 30, 2018, 90 percent of the 260 hotels in the brand’s pipeline were new construction.
“Hotel developers choose La Quinta time and time again because of the brand’s long-standing reputation for delivering quality, dependability, and great guest experiences,” said Rajiv Trivedi, president, La Quinta at Wyndham Hotels & Resorts. “These recent additions represent the best of what La Quinta has to offer, and our robust new-construction pipeline is testament to the brand’s tenacious growth potential. With Wyndham’s scale and distribution we’ll continue partnering with passionate owners to raise more brand flags in high-demand areas.”
Opening Doors in the U.S.
The six newly built hotels that joined La Quinta in the third quarter are:
La Quinta Inn & Suites Opelika-Auburn in Opelika, Ala.;
La Quinta Inn & Suites Tuscaloosa-McFarland in Tuscaloosa, Ala.;
La Quinta Inn & Suites Aberdeen APG in Aberdeen, Md.;
La Quinta Inn & Suites Dallas-Duncanville in Duncanville, Texas;
La Quinta Inn & Suites South Jordan in South Jordan, Utah; and
La Quinta Inn & Suites Kanab in Kanab, Utah.
The seventh addition, La Quinta Inn & Suites Columbus in Columbus, Miss., underwent a complete renovation to transform all guest rooms and public spaces, infusing a fresh, modern look while incorporating the enhanced amenities guests have come to expect from the brand.
Each of the new hotels reflects La Quinta’s guest-inspired, owner-friendly Del Sol prototype. The design combines clean geometric lines, bold colors, and varying textures with iconic brand elements and guest-centric offerings to enhance the experience while maximizing revenue-generating space for hotel developers. Thirty-five Del Sol hotels are currently under construction in the U.S., with 40 already open and operating.
Like each of its more than 910 upper-midscale and midscale hotels in North and Latin America, La Quinta’s newest additions offer the brand’s signature pillow-top Bright Morning Bed®, free Bright Side Breakfast®, and spacious in-room work areas. Additional features include the Great Room, a comfortable and spacious social gathering space; a state-of-the-art fitness center; free high-speed Wi-Fi; and meeting space.
Driving Development
La Quinta’s third-quarter openings pace continues a year of solid development momentum. So far in 2018, the brand has surpassed the 900-hotel mark and celebrated 19 openings – nearly 70 percent of which were new construction – including global debuts in Santiago, Chile, and León, Mexico. These brand new hotels in Latin America are conveniently located near Santiago’s international airport and in the heart of León, catering to travelers looking for comfortable, dependable lodging, and top-rated service while visiting these bustling cities.
“The growing global middle class, which is expected to grow by 160 million people each year for the next five years, is traveling more and seeking out value-driven experiences, steering the need for quality accommodations at affordable price points around the world,” said Bob Loewen, executive vice president and chief operating officer at Wyndham Hotels & Resorts. “Such demand puts a trusted, fast-growing select-service brand like La Quinta in an opportune position to branch out in sought-after markets like South America and debut in new ones like Europe, where we’re aiming to introduce the brand by the end of the year.”
Wyndham’s May 2018 acquisition of La Quinta strengthened the Company’s position as a midscale lodging leader with approximately 37 percent of branded rooms in the segment in the U.S.
ABOUT LA QUINTA BY WYNDHAM With more than 910 upper-midscale and midscale destinations in North and Latin America, La Quinta 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.
ABOUT WYNDHAM HOTELS & RESORTS
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with more than 9,000 hotels across more than 80 countries on six continents. Through its network of over 798,000 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 over 59 million enrolled members the opportunity to redeem points at thousands of hotels, condominiums and holiday homes globally. For more information, visit www.wyndhamhotels.com.
PARSIPPANY, N.J., October 30, 2018 – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended September 30, 2018. Highlights include:
Revenues increased 74% compared with third quarter 2017, to $604 million.
Net income was $58 million for the third quarter; adjusted net income was $85 million, a 39% increase over the prior-year quarter.
Diluted earnings per share were $0.58 and adjusted diluted EPS were $0.85.
Further adjusted diluted EPS (calculated as if our spin-off and our acquisition and integration of La Quinta had occurred on January 1) were $0.93.
Adjusted EBITDA increased 34% compared with the prior-year quarter, to $166 million, and grew 7% in constant currency and excluding our 2018 acquisitions and divestitures.
Further adjusted EBITDA was $177 million, compared to our projection of $166 to $176 million.
Global RevPAR increased 9% year-over-year and 4% in constant currency and excluding our 2018 acquisitions and divestitures.
System-wide rooms grew 13% year-over-year, and 3% excluding our 2018 acquisitions and divestitures.
“We delivered strong results in the third quarter, highlighted by organic and acquisition-related growth in both global RevPAR and our system size,” said Geoffrey A. Ballotti, chief executive officer. “In addition, we made significant progress in the integration of the La Quinta brand, continued to strengthen the quality of our hotel network, and began to see the favorable impact of the ‘By Wyndham’ endorsement of our global brands.”
Revenues were $604 million, compared with $347 million in the third quarter of 2017. Results reflect $238 million of incremental revenues from La Quinta. Excluding the impact from the acquisition of La Quinta, revenues increased 5% primarily due to 4% higher royalties and franchise fees, as well as higher license and other fees.
Net income was $58 million, or $0.58 per diluted share, unchanged from the third quarter of 2017. Third quarter 2018 results include separation-related and transaction-related costs.
Adjusted net income was $85 million, or $0.85 per diluted share, compared with $61 million, or $0.61 per diluted share, in the third quarter of 2017. Third quarter earnings benefited from our revenue growth and a lower effective tax rate, partially offset by higher interest and depreciation and amortization expense. Full reconciliations of GAAP results to our non-GAAP adjusted measures for all reported periods appear in the tables to this press release.
Third quarter adjusted EBITDA was $166 million, compared with $124 million in the third quarter of 2017. Results reflect approximately $39 million of adjusted EBITDA from La Quinta and exceeded the Company’s projection of $155 million to $163 million of adjusted EBITDA. Excluding the impact from 2018 acquisitions and divestitures, adjusted EBITDA increased 7% in constant currency, primarily reflecting the growth in revenues, partially offset by $7 million due to the timing of marketing expenses.
The Company estimates that, if it had fully integrated La Quinta prior to July, its further adjusted EBITDA in the third quarter would have been $177 million, and its further adjusted diluted earnings per share would have been $0.93. See Tables 5 and 6 for additional information.
As of September 30, 2018, the Company’s hotel system consisted of more than 9,000 properties and over 798,000 rooms, a 13% increase compared with the third quarter of 2017. Room count is up 3% year-over-year excluding our 2018 acquisitions and divestitures, and is up 2% year-over-year further excluding the October 2017 acquisition of AmericInn. Our development pipeline increased to nearly 1,400 hotels and over 176,000 rooms, a 20% year-over-year room increase, including over 24,000 La Quinta pipeline rooms and the removal of 2,000 Knights Inn pipeline rooms. Approximately 54% of our pipeline is international and 71% is new construction.
Business Segment Discussion
The following discussion of third quarter operating results focuses on revenue and adjusted EBITDA for each of our segments. The Company’s calculation of adjusted EBITDA now excludes the currency effects of highly inflationary countries.
Hotel Franchising
Revenues increased 35% compared to third quarter 2017, including $72 million of incremental revenues from La Quinta. Excluding the impact of the acquisition of La Quinta, revenues increased 7% primarily due to 6% higher royalties and franchise fees and $16 million of higher license and other fees. The increase in license and other fees primarily represented incremental license fees from Wyndham Destinations. Adjusted EBITDA grew 35% to $178 million, including $35 million of incremental adjusted EBITDA from the acquisition of La Quinta. Excluding the impact from La Quinta, adjusted EBITDA grew 8%, reflecting the growth in revenues, partially offset by the timing of marketing expenses.
Hotel Management
Revenues increased $163 million compared to the prior-year period, reflecting $166 million of incremental revenues from La Quinta (including $154 million of cost-reimbursement revenues). Excluding the impact from the acquisition of La Quinta, revenues declined $3 million. Adjusted EBITDA increased $4 million compared to the prior-year quarter, reflecting $4 million of adjusted EBITDA from La Quinta.
Other Items
Share Repurchases – The Company repurchased approximately 778,000 shares of its common stock for $44 million in the third quarter.
La Quinta Integration – As of September 30, 2018, as planned, the Company has completed substantially all of its planned integration actions other than in the areas of information technology and loyalty, and has terminated approximately 60% of the employees ultimately expected to leave the Company in conjunction with the integration.
Outlook
The Company provided the following outlook, which assumes that its spin-off and the acquisition and integration of La Quinta had all been completed on January 1, 2018, for full-year 2018:
Further adjusted revenues of $2.06 billion to $2.11 billion.
Further adjusted net income of $300 million to $315 million.
Further adjusted EBITDA of $594 million to $605 million.
Further adjusted diluted EPS of $2.99 to $3.13, based on a further adjusted diluted share count of 100.3 million, which excludes future share repurchases.
Rooms growth of 11% to 13%, or 2% to 4% excluding our 2018 acquisitions and divestitures.
Constant currency RevPAR growth of 7% to 8%, or approximately 3% excluding our 2018 acquisitions and divestitures.
More detailed projections are available in Table 6 of this press release. In determining further adjusted metrics, the Company excludes certain items which are otherwise included in determining the comparable GAAP financial measures, as described in Tables 5 and 6 of this press release. The Company is providing an outlook for net income, EBITDA and EPS only on a non-GAAP basis because it is unable to predict with reasonable certainty the occurrence or amount of these adjustments or other 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, October 30, 2018 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 October 30, 2018. A telephone replay will be available for approximately ten days beginning at noon ET on October 30, 2018 at 800-695-1624.
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 more than 9,000 hotels across more than 80 countries on six continents. Through its network of over 798,000 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 over 59 million enrolled members the opportunity to redeem points at thousands of hotels, condominiums and holiday homes 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” 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 the Company’s revenues, earnings, cash flow and other financial and operating measures.
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 the financial and credit markets, the economic environment for the hospitality industry, the impact of war, terrorist activity or political strife, operating risks associated with the hotel business, risks related to our spin-off as a newly independent company, uncertainties related to our ability to obtain financing or the terms of such financing, unanticipated developments related to the impact of the spin-off on our relationships with our customers, suppliers, employees and others with whom we have relationships, unanticipated developments resulting from possible disruption to our operations resulting from the spinoff, risks related to our acquisition of the La Quinta hotel franchising and hotel management business, including our ability to achieve expected benefits associated with the transaction, as well as those other risks and uncertainties described in the section titled “Risk Factors” and elsewhere in Wyndham Hotels’ Registration Statement on Form 10, in this press release and in Wyndham Hotels’ other filings with the Securities and Exchange Commission. Except as required by law, Wyndham Hotels undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise.
PARSIPPANY, N.J., Oct. 5, 2018 – Wyndham Hotels & Resorts (NYSE: WH) announced today that it will report third quarter 2018 results on Tuesday, October 30, 2018. 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 October 30, 2018. A telephone replay will be available for approximately ten days beginning at noon ET on October 30, 2018 at 800-723-6062.
ABOUT WYNDHAM HOTELS & RESORTS
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with nearly 9,000 hotels across more than 80 countries on six continents. Through its network of more than 792,000 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 approximately 58 million enrolled members the opportunity to redeem points at thousands of hotels, condominiums and holiday homes globally. For more information, visit www.wyndhamhotels.com.
PARSIPPANY, N.J., August 1, 2018 – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended June 30, 2018, which included its spin-off as an independent public company and the acquisition of La Quinta, adding over 900 hotels and nearly 89,000 rooms to its franchise system. Highlights include:
Revenues increased 31% compared with second quarter 2017, to $435 million.
Net income was $21 million for the second quarter; adjusted net income was $73 million, a 43% increase over the prior-year quarter.
Diluted earnings per share were $0.21 and adjusted diluted EPS were $0.73.
Further Adjusted diluted EPS (calculated as if our spin-off and our acquisition and integration of La Quinta had occurred on January 1) were $0.86, above our projection of $0.79 to $0.84.
Adjusted EBITDA increased 19% compared with the prior-year quarter, to $125 million.
Further Adjusted EBITDA was $159 million, consistent with our projection of $150 to $160 million.
Global RevPAR increased 9% year-over-year and 4% in constant currency and excluding our 2018 acquisitions and divestitures.
System-wide rooms grew 12% year-over-year, and 3% excluding our 2018 acquisitions and divestitures.
“Our team’s sharp focus on executing against our strategic and operating plans allowed us to deliver solid growth, in line with our prior projections, in our initial quarter as an independent public company,” said Geoffrey A. Ballotti, chief executive officer. “We also continued to strengthen our presence in the midscale hotel segment with the addition of the La Quinta brand and its over 900 hotels in May.”
Revenues were $435 million, compared with $331 million in the second quarter of 2017. Results reflect $77 million of incremental revenues from La Quinta. Excluding the impact from the acquisition of La Quinta, revenues increased 8% primarily due to 8% higher royalties and franchise fees, as well as a 17% increase in marketing, reservation and loyalty fees that in 2018 included global franchisee conference revenues that were fully offset by conference-related expenses.
Net income was $21 million compared with $48 million for the second quarter of 2017, reflecting separation-related and transaction-related costs incurred this year. Diluted EPS was $0.21.
Adjusted net income was $73 million, or $0.73 per diluted share, compared with $51 million in the second quarter of 2017. Second quarter earnings benefited from our revenue growth and lower taxes, partially offset by the timing of marketing expenses and higher interest expense. 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 $125 million, compared with $105 million in the second quarter of 2017. Results primarily reflect the growth in revenues and $12 million of adjusted EBITDA from the La Quinta acquisition, partially offset by the timing of marketing expenses.
The Company estimates that, if it had completed its spin-off and had acquired and fully integrated La Quinta prior to April, its Further Adjusted EBITDA in the second quarter would have been $159 million, and its Further Adjusted diluted earnings per share would have been $0.86. See Tables 5 and 6 for additional information.
As of June 30, 2018, the Company’s hotel system consisted of nearly 9,000 properties and more than 792,000 rooms, a 12% increase compared with the second quarter of 2017. Room count is up 3% year-over-year excluding our 2018 acquisitions and divestitures. Our development pipeline increased to nearly 1,400 hotels and over 171,000 rooms, a 13% year-over-year room increase, reflecting the addition of 24,000 La Quinta pipeline rooms and the removal of 2,000 Knights Inn pipeline rooms. Approximately 51% of our pipeline is international and 70% is new construction.
Business Segment Discussion
The following discussion of second quarter operating results focuses on revenue and Adjusted EBITDA for each of our segments.
Hotel Franchising
Revenues increased 24% compared to second quarter 2017, including $26 million of incremental revenues from La Quinta. Excluding the impact of the acquisition of La Quinta and the divestiture of Knights Inn, revenues increased 13% primarily due to 9% higher royalties and franchise fees, as well as a 17% increase in marketing, reservation and loyalty fees that included global franchisee conference revenues. The 9% growth in royalties and franchise fees reflected our 3% room growth and 5% RevPAR growth, excluding 2018 acquisitions and divestitures. Adjusted EBITDA grew 16% to $129 million, including $9 million of incremental Adjusted EBITDA from La Quinta. Excluding the impact from the acquisition of La Quinta, Adjusted EBITDA grew 8% reflecting the growth in royalties and franchise fee revenues, partially offset by a $3 million timing-related increase in marketing expenses compared to marketing fund revenues.
Hotel Management
Revenues increased 49% compared to the prior-year period, reflecting $51 million of incremental revenues from La Quinta (including $46 million of cost-reimbursement revenues). Excluding the impact from the acquisition of La Quinta, revenues declined $3 million reflecting lower cost-reimbursement revenues and lower owned-hotel revenues. Adjusted EBITDA increased by $4 million compared to the prior-year quarter, reflecting $3 million of Adjusted EBITDA from La Quinta.
Other Items
Acquisition of La Quinta – The Company completed the acquisition of La Quinta on May 30, 2018, adding over 900 franchised properties with nearly 89,000 rooms to the Company’s midscale hotel system. The aggregate purchase price was approximately $2 billion, including $240 million of taxes and other items, which we are obligated to pay on behalf of La Quinta Holdings Inc. during the third quarter of 2018. The Company continues to expect to generate $55 million to $70 million in annual synergies in connection with this transaction.
Divestiture of Knights Inn – The Company in May 2018 completed the sale of its Knights Inn brand, consisting of approximately 350 franchised hotels with approximately 21,000 rooms. Knights Inn’s typical franchise agreements were much shorter, and its average U.S. RevPAR was much lower, than the Company’s other brands.
Spin-off from Former Parent Company – On May 31, 2018, the Company completed its spin-off from Wyndham Worldwide through the tax-free distribution of the Company’s stock to shareholders of Wyndham Worldwide Corporation. The Company’s stock began regular-way trading on the New York Stock Exchange under the symbol “WH” on June 1, 2018.
Share Repurchases – Following the completion of the spin-off, the Company repurchased approximately 246,000 shares of its common stock for $15 million in the second quarter.
Outlook
The Company provided the following outlook, which assumes that its spin-off and the acquisition and integration of La Quinta had all been completed on January 1, 2018, for full-year 2018:
Further Adjusted revenues of $1.99 billion to $2.04 billion.
Further Adjusted net income of $300 million to $320 million.
Further Adjusted EBITDA of $590 million to $610 million.
Further Adjusted diluted EPS of $2.98 to $3.18, based on a Further Adjusted diluted share count of 100.6 million, which excludes future share repurchases.
Rooms growth of 11% to 13%, or 2% to 4% excluding our 2018 acquisitions and divestitures.
Constant-currency RevPAR growth of 7% to 8%, or approximately 3% excluding our 2018 acquisitions and divestitures.
More detailed projections are available in Table 6 of this press release. In determining adjusted net income, adjusted EBITDA and adjusted EPS, the Company excludes certain items which are otherwise included in determining the comparable GAAP financial measures, as described in Table 5 of this press release. The Company is providing an outlook for net income, EBITDA and EPS only on a non-GAAP basis because it is unable to predict with reasonable certainty the occurrence or amount of these adjustments or other 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 Wednesday, August 1, 2018 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 877 876-9176 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 August 1, 2018. A telephone replay will be available for approximately ten days beginning at noon ET on August 1, 2018 at 800 695-1624.
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 the press release.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with nearly 9,000 hotels across more than 80 countries on six continents. Through its network of more than 792,000 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 approximately 58 million enrolled members the opportunity to redeem points at thousands of hotels, condominiums and holiday homes 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” 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 the Company’s revenues, earnings, cash flow and other financial and operating measures.
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 the financial and credit markets, the economic environment for the hospitality industry, the impact of war, terrorist activity or political strife, operating risks associated with the hotel business, risks related to our spin-off as a newly independent company, uncertainties related to Wyndham Hotels’ ability to obtain financing or the terms of such financing, unanticipated developments related to the impact of the spin-off on our relationships with our customers, suppliers, employees and others with whom we have relationships, unanticipated developments resulting from possible disruption to our operations resulting from the spin-off, risks related to our acquisition of the La Quinta hotel franchising and hotel management business, including our ability to achieve expected benefits associated with the transaction, as well as those other risks and uncertainties described in the section titled “Risk Factors” and elsewhere in Wyndham Hotels’ Registration Statement on Form 10, in this press release and in Wyndham Hotels’ other filings with the Securities and Exchange Commission. Except as required by law, Wyndham Hotels undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise.
CONTACTS
Investors:
Matt Capuzzi
Vice President, Investor Relations
973 753-6453 [email protected]
Media:
Nadeen N. Ayala
Senior Vice President, Global Communications
973 753-8054 [email protected]
For additional financial information, please visit our Investor site:
PARSIPPANY, N.J., July 5, 2018 – Wyndham Hotels & Resorts (NYSE: WH) announced today that it will report second quarter 2018 results on Wednesday, August 1, 2018. 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 877-876-9176 and providing the passcode “WYNDHAM”. Listeners are urged to call at least ten 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 August 1, 2018. A telephone replay will be available for approximately ten days beginning at noon ET on August 1, 2018 at 800-695-1624.
ABOUT WYNDHAM HOTELS & RESORTS
Wyndham Hotels & Resorts (NYSE: WH) is the largest hotel franchising company in the world, with nearly 9,000 hotels across more than 80 countries on six continents. Through its network of approximately 790,000 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 56 million enrolled members the opportunity to redeem points at thousands of hotels, condominiums and holiday homes globally. For more information, visit www.wyndhamhotels.com.
PARSIPPANY, N.J., June 4, 2018 – Following its recent acquisition of the La Quinta® hotel brand, Wyndham Hotels & Resorts® (NYSE: WH)—the world’s largest hotel franchising company with nearly 9,000 hotels and 20 powerhouse brands—today announced exciting new benefits for members of its award-winning Wyndham Rewards® loyalty program and members of La Quinta Returns, specifically 1:1 point transfer between the two programs and complimentary status match.
Available starting today, the move enables members of both programs—more than 56 million in Wyndham Rewards and more than 13 million in La Quinta Returns®—to take advantage of a wide range of benefits at a combined portfolio nearly 9,000 hotels around the world as Wyndham works to integrate La Quinta and its La Quinta Returns members into the Wyndham Rewards program by the second quarter of 2019.
“The addition of a brand like La Quinta carries tremendous benefit for all Wyndham Rewards members, not the least of which is expanded access to approximately 900 high-quality, midscale hotels across the globe,” said Eliot Hamlisch, vice president of worldwide loyalty and partnerships at Wyndham Hotels & Resorts. “As our teams work diligently to ensure a smooth integration of the brand into the Wyndham Rewards program, we felt it critically important to enable members of both programs to feel the benefits of the acquisition right away. That starts today with 1:1 point transfer and status match, and in the coming months, will continue as members start seeing La Quinta hotels in their search results on WyndhamRewards.com.”
To take advantage of point transfer and status match, members of both programs should first visit www.wyndhamrewards.com/LQ. Wyndham Rewards Gold members may match to La Quinta Returns Gold status, while Wyndham Rewards Platinum and Diamond members may match to La Quinta Returns Elite status. Similarly, La Quinta Returns Gold and Military Rewards Gold members may match to Wyndham Rewards Gold status, while La Quinta Returns Elite and Military Rewards Elite members may match to Wyndham Rewards Platinum status.
Named a best hotel rewards program for the past three consecutive years by U.S. News and World Report, Wyndham Rewards® is the award-winning loyalty program of Wyndham Hotel Group, offering members a generous points earning structure along with a flat, free night redemption rate—the first of its kind for a major rewards program. Members earn a guaranteed 1,000 points for every qualified stay and can redeem for a free night at any of more than 25,000 hotels, condos or homes around the world for just 15,000 points per room per night. No tricks, just Wyndham Rewards magic. You’ve Earned This®. Join for free today at www.wyndhamrewards.com.
ABOUT WYNDHAM HOTELS & RESORTS
Wyndham Hotels & Resorts (NYSE: WH) is the largest hotel franchising Company in the world, with nearly 9,000 hotels across more than 80 countries on six continents. Through its network of approximately 790,000 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 56 million enrolled members the opportunity to redeem points at thousands of hotels, condominiums and holiday homes globally. For more information, visit www.wyndhamhotels.com.
WYNDHAM HOTELS & RESORTS DEBUTS AS INDEPENDENT PUBLIC COMPANY
Completes Spin-Off from Wyndham Worldwide
PARSIPPANY, N.J., June 1, 2018 — Wyndham Hotels & Resorts, Inc. (NYSE: WH) today announced the completion of its spin-off from Wyndham Worldwide Corporation, which has been renamed Wyndham Destinations, Inc. (NYSE: WYND).Wyndham Hotels & Resorts is the world’s largest hotel franchisor and a leading provider of hotel management services, with a portfolio of 20 well-recognized lodging brands and nearly 9,000 franchised hotels in more than 80 countries.
“We’re thrilled to begin a new era in which we will continue to build upon our powerful asset-light and fee-based business model that is driven by an exceptional portfolio of market-leading economy and midscale brands,” said Geoff Ballotti, chief executive officer of Wyndham Hotels & Resorts. “As the world’s largest hotel franchisor with a proven ability to create value through acquisitions and organic growth, we will focus on strengthening our industry-leading loyalty and technology platforms to drive more direct distribution to our owners and franchisees at a lower cost, while serving everyday travelers exceptionally well.”
As previously announced, Wyndham Worldwide common stockholders received one share of Wyndham Hotels & Resorts common stock for each share of Wyndham Worldwide common stock held on May 18, 2018, the record date.Following the spin-off, Wyndham Hotels & Resorts has approximately 100 million shares outstanding.
ABOUT WYNDHAM HOTELS & RESORTS
Wyndham Hotels & Resorts (NYSE: WH) is the largest hotel franchising company in the world, with nearly 9,000 hotels across more than 80 countries on six continents. Through its network of approximately 790,000 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 56 million enrolled members the opportunity to redeem points at thousands of hotels, condominiums and holiday homes globally.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are those that convey management’s expectations as to the future based on plans, estimates and projections at the time Wyndham Hotels & Resorts makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “intend,” “goal,” “future,” “guidance,” “estimate” 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 & Resorts 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 & Resorts’ current views and expectations with respect to Wyndham Hotels & Resorts’ future performance and operations. 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 the financial and credit markets, Wyndham Hotels & Resorts’ ability to obtain financing, Wyndham Hotels & Resorts’ post-closing credit obligations as result of the sale of Wyndham Worldwide’s European vacation rentals business, the economic environment for the hospitality industry, the impact of war, terrorist activity or political strife, operating risks associated with the hotel business, unanticipated developments related to the impact of the spin-off on Wyndham Hotels & Resorts’ relationships with its customers, suppliers, employees and others with whom it has relationships, uncertainties related to Wyndham Hotels & Resorts’ ability to realize the anticipated benefits of the La Quinta acquisition, uncertainties related to Wyndham Hotels & Resorts’ ability to realize the anticipated benefits of the spin-off, as well as those factors described in Wyndham Hotels & Resorts’ Registration Statement on Form 10, filed with the SEC on March 19, 2018, as amended, and in Wyndham Hotels & Resorts’ subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Wyndham Hotels & Resorts undertakes no obligation to publicly update or revise any forward-looking statements, subsequent events or otherwise.
CONTACTS
Investors:
Matt Capuzzi
Vice President, Investor Relations
973 753-6453 [email protected]
Media:
Nadeen N. Ayala
Senior Vice President, Global Communications
973 753-8054 [email protected]
Click Here to Close Modal
Contact Us
We value your interest in Wyndham & Resorts and welcome your comments and questions.
Revenues increased 35% compared to third quarter 2017, including $72 million of incremental revenues from La Quinta. Excluding the impact of the acquisition of La Quinta, revenues increased 7% primarily due to 6% higher royalties and franchise fees and $16 million of higher license and other fees. The increase in license and other fees primarily represented incremental license fees from Wyndham Destinations. Adjusted EBITDA grew 35% to $178 million, including $35 million of incremental adjusted EBITDA from the acquisition of La Quinta. Excluding the impact from La Quinta, adjusted EBITDA grew 8%, reflecting the growth in revenues, partially offset by the timing of marketing expenses.
Revenues increased $163 million compared to the prior-year period, reflecting $166 million of incremental revenues from La Quinta (including $154 million of cost-reimbursement revenues). Excluding the impact from the acquisition of La Quinta, revenues declined $3 million. Adjusted EBITDA increased $4 million compared to the prior-year quarter, reflecting $4 million of adjusted EBITDA from La Quinta.
