PARSIPPANY, N.J., (March 5, 2025) – Wyndham Rewards is back with its biggest celebration of the year: Member Month. Now in its fifth year, the annual celebration brings members five weeks of can’t-miss deals, bonus points and exclusive discounts. With surprise rewards rolling in all month long, it’s the ultimate time to book, earn and bring those dream trips to life.
Kicking off week one, members can earn 7,500 Wyndham Rewards points when the stay two qualifying nights. Members can take advantage of the promotion twice for a total of up to 15,000 bonus points. That’s enough for up to two future free nights at thousands of Hotels by Wyndham or a $50 gift card to shop at select retailers. For members with a Wyndham Rewards Earner Visa card, the perks get even sweeter: cardmembers who register and stay two or more nights (nights do not need to be consecutive) can earn an additional 7,500 points.
“Five years of Member Month calls for a five-star celebration – and this year, the world’s most generous hotel rewards program is turning up the heat with offers that don’t just reward but truly celebrate every member’s wanderlust. From indulgent dream getaways to next-level experiences, Wyndham Rewards is putting its generosity on full display while making it easier than ever for members to enjoy the best our program has to offer.”
– Michael Shiwdin, GVP of Guest Engagement, Loyalty & Partnerships, Wyndham Hotels & Resorts
Surprise Offers Unlocked Every Wednesday
Every Wednesday at midnight EST, a new batch of weekly offers awaits at WyndhamRewards.com/MemberMonth. Members across the globe will have the opportunity to enjoy exclusive offers — even those who enroll during the window of the promotion. Offers are often among the most generous of the year and members can take advantage of multiple deals throughout the month, to maximize their rewards. Previous Member Months have offered members discounts on points purchases, special partner offers, access to trip sweepstakes, bonus points and more. Whether it’s a lively family escape at Wyndham Grand Bonnet Creek in Orlando, a romantic retreat at the dazzling new Viva Miches, a Trademark All Inclusive Resort in the Dominican Republic, or a bold solo adventure at the Dolce by Wyndham Cesme Alacati in Türkiye, Member Month is a chance for Wyndham Rewards members around the globe to get the most of their membership—unlocking incredible deals and making unforgettable memories.
For more information on Wyndham Rewards Member Month, including terms and conditions, visit WyndhamRewards.com/MemberMonth.
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About Wyndham Rewards Part of Wyndham Hotels & Resorts (NYSE: WH), the world’s largest hotel franchising company, Wyndham Rewards is the #1 hotel rewards program as named by both U.S. News & World Report and USA Today. Members—approximately 114 million enrolled around the world—earn a guaranteed 1,000 points with every qualified stay and can redeem for free nights starting at just 7,500 points. With more than 60,000 hotels, vacation club resorts and vacation rentals globally, no other hotel rewards program is more generous or offers members more places to stay. Join for free at WyndhamRewards.com.
Company Increases Quarterly Dividend by 8% and Provides Full-Year 2025 Outlook
PARSIPPANY, N.J., February 12, 2025 – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months and year ended December 31, 2024. Highlights include:
Global RevPAR grew 5% compared to fourth quarter 2023 in constant currency, a 400 basis point improvement sequentially; full-year global RevPAR grew 2% year-over-year in constant currency.
U.S. RevPAR grew 5% compared to fourth quarter 2023, a 600 basis point improvement sequentially; full-year U.S. RevPAR was flat.
System-wide rooms grew 4% year-over-year.
Opened a record 68,700 rooms globally, representing 4% year-over-year growth, including nearly 28,000 in the U.S., which also grew 4% year-over-year.
Global retention rate reaches record level at 95.7%.
Development pipeline grew 2% sequentially and 5% year-over-year to a record 252,000 rooms.
Fourth quarter diluted earnings per share increased 80% to $1.08 and adjusted diluted EPS grew 14% to $1.04, or approximately 18% on a comparable basis; full-year 2024 diluted earnings per share increased 6% to $3.61 and adjusted diluted EPS grew 8% to $4.33, or approximately 10% on a comparable basis.
Fourth quarter net income increased 70% to $85 million and adjusted net income increased 9% to $82 million, or approximately 13% on a comparable basis; full-year 2024 net income was $289 million, or flat year-over-year, and adjusted net income increased 2% to $347 million, or approximately 4% on a comparable basis.
Fourth quarter adjusted EBITDA increased 9% to $168 million, or approximately 12% on a comparable basis; full-year 2024 adjusted EBITDA increased 5% to $694 million, or approximately 7% on a comparable basis.
Returned $430 million to shareholders for the full-year through $308 million of share repurchases and quarterly cash dividends of $0.38 per share.
Board of Directors recently authorized an 8% increase in the quarterly cash dividend to $0.41 per share beginning with the dividend expected to be declared in the first quarter 2025.
“We’re proud to report a very strong finish to 2024 with net rooms growth of 4% and comparable adjusted EBITDA growth of 7%. Our team’s focus on expanding into higher FeePAR markets, growing our extended-stay footprint and unlocking new ancillary revenue streams underscore the diverse growth opportunities inherent in our asset-light, resilient business model,” said Geoff Ballotti, president and chief executive officer. “What excites us most about our future is the developer interest in, and demand for, our brands both here and overseas, reflected in a pipeline that grew another 5% to a record quarter-of-a-million rooms that will open in the coming years with significant FeePAR premiums compared to our existing system. This, when coupled with improving customer demand we’re seeing across both our leisure and infrastructure segments, lays a solid foundation for sustained momentum and meaningful value creation for our shareholders, guests, franchisees and team members for many years to come.”
System Size and Development
The Company’s global system grew 4%. Importantly, these results included 4% growth in the higher RevPAR midscale and above segments in the U.S. as well as strong growth in the Company’s higher RevPAR EMEA and Latin America regions, which grew a combined 7%. The Company also increased its retention rate by another 10 basis points year-over-year, ending the year at a record 95.7%.
On December 31, 2024, the Company’s global development pipeline consisted of approximately 2,100 hotels and 252,000 rooms, representing another record-high level and a 5% year-over-year increase. Key highlights include:
7% growth in the U.S. and 4% internationally
18th consecutive quarter of sequential pipeline growth
Approximately 70% of the pipeline is in the midscale and above segments, which grew 5% year-over-year
Approximately 17% of the pipeline is in the extended stay segment
Approximately 58% of the pipeline is international
Approximately 78% of the pipeline is new construction and approximately 35% of these projects have broken ground
RevPAR
Fourth quarter global RevPAR increased 5% in constant currency compared to 2023, reflecting 5% growth in the U.S., which accelerated throughout the quarter, and 6% growth internationally. For the full year, global RevPAR was flat compared to 2023 on a reported basis, in line with the Company’s outlook, and grew 2% in constant currency reflecting flat growth in the U.S. and 8% growth internationally.
In the U.S., fourth quarter results included 140 basis points of favorable hurricane impacts; excluding which, RevPAR grew 4% year-over-year reflecting strength in both weekday business bookings and weekend leisure demand. Overall, U.S. RevPAR improved 620 basis points sequentially from third quarter, or 480 basis points excluding hurricane impacts.
Internationally, RevPAR strength was driven by ADR growth of 6% in constant currency, while occupancy remained flat. The Company’s EMEA and Latin America regions saw the largest increases year-over-year in the fourth quarter, collectively growing 15%. RevPAR for the Company’s China region declined 11% in the fourth quarter, driven by a 10% decrease in ADR.
Operating Results
Fourth Quarter
Fee-related and other revenues grew 7% to $341 million compared to $320 million in fourth quarter 2023, which reflects higher royalties and franchise fees.
Net income grew 70% to $85 million compared to $50 million in fourth quarter 2023, reflecting higher adjusted EBITDA, as well as a lower effective tax rate and lower foreign currency impact for highly inflationary countries, which were partially offset by higher interest expense.
Adjusted EBITDA grew 9% to $168 million compared to $154million in fourth quarter 2023. This increase included a $4 million unfavorable impact from expected marketing fund variability, excluding which adjusted EBITDA grew 12% on a comparable basis, primarily reflecting higher royalties and franchise fees and margin expansion.
Diluted earnings per share grew 80% to $1.08 compared to $0.60 in fourth quarter 2023, which primarily reflects higher net income and the benefit of a lower share count due to share repurchase activity.
Adjusted diluted EPS grew 14% to $1.04 compared to $0.91 in fourth quarter 2023. This increase included an unfavorable impact of $0.04 per share related to expected marketing fund variability (after estimated taxes). On a comparable basis, adjusted diluted EPS increased approximately 18% year-over-year reflecting comparable adjusted EBITDA growth and the benefit of share repurchase activity, partially offset by higher interest expense.
During fourth quarter 2024, the Company’s marketing fund revenues exceeded expenses by $5 million; while in fourth quarter 2023, the Company’s marketing fund revenues exceeded expenses by $9 million, resulting in $4 million of marketing fund variability.
Full Year
Fee-related and other revenues grew 1% to $1.40 billion compared to $1.38 billion in full-year 2023, which included $18 million of pass-through revenues associated with the Company’s 2023 global franchisee conference, absent which, fee-related and other revenue increased 3%. This growth primarily reflects higher royalties and franchise fees and ancillary revenues.
The Company reported net income of $289 million, consistent with 2023, as higher adjusted EBITDA was offset by higher transaction-related expenses in connection with defending an unsuccessful hostile takeover attempt. Other items include higher interest expense, restructuring costs and an impairment charge, which were offset by a lower effective tax rate, the absence of foreign currency impacts from highly inflationary countries and a benefit from the reversal of a spin-off related matter.
Adjusted EBITDA grew 5% to $694 million compared to $659million in full-year 2023. This increase included a $10 million unfavorable impact, as expected, from marketing fund variability, excluding which adjusted EBITDA grew 7% on a comparable basis, primarily reflecting higher royalties and franchise fees, increased ancillary revenues and margin expansion.
Diluted earnings per share grew 6% to $3.61 compared to $3.41 in full-year 2023, which primarily reflects the benefit of a lower share count due to share repurchase activity.
Adjusted diluted EPS grew 8% to $4.33 compared to $4.01 in full-year 2023. This increase included an unfavorable impact of $0.09 per share, as expected, related to marketing fund variability (after estimated taxes). On a comparable basis, adjusted diluted EPS increased approximately 10% year-over-year reflecting comparable adjusted EBITDA growth and the benefit of share repurchase activity, partially offset by higher interest expense.
During full-year 2024, the Company’s marketing fund expenses exceeded revenues by $1 million; while in 2023, the Company’s marketing fund revenues exceeded expenses by $9 million, resulting in $10 million of marketing fund variability.
Full reconciliations of GAAP results to the Company’s non-GAAP adjusted measures for all reported periods appear in the tables to this press release.
Balance Sheet and Liquidity
The Company generated $290 million of net cash provided by operating activities and $397 million of adjusted free cash flow in full-year 2024. The Company ended the quarter with a cash balance of $103 million and approximately $765 million in total liquidity.
The Company’s net debt leverage ratio was 3.4 times at December 31, 2024, just below the midpoint of the Company’s 3 to 4 times stated target range and in line with expectations.
Share Repurchases and Dividends
During the fourth quarter, the Company repurchased approximately 0.3 million shares of its common stock for $23 million. For the full-year 2024, the Company repurchased approximately 4.1 million shares of its common stock for $308 million.
The Company paid common stock dividends of $30 million, or $0.38 per share, during the fourth quarter 2024 for a total of $122 million, or $1.52 per share, for the full-year 2024.
For the full-year 2024, the Company returned $430 million to shareholders through share repurchases and quarterly cash dividends.
The Company’s Board of Directors authorized an 8% increase in the quarterly cash dividend to $0.41 per share, beginning with the dividend expected to be declared in first quarter 2025.
Outlook
The Company provided the following outlook for full-year 2025:
The Company continues to expect marketing fund revenues to equal expenses during full-year 2025 though seasonality of spend will affect the quarterly comparisons throughout the year.
More detailed projections are available in Table 8 of this press release. The Company is providing certain financial metrics only on a non-GAAP basis because, without unreasonable efforts, it is unable to predict with reasonable certainty the occurrence or amount of all of the adjustments or other potential adjustments that may arise in the future during the forward-looking period, which can be dependent on future events that may not be reliably predicted. Based on past reported results, where one or more of these items have been applicable, such excluded items could be material, individually or in the aggregate, to the reported results.
Conference Call Information
Wyndham Hotels will hold a conference call with investors to discuss the Company’s results and outlook on Thursday, February 13, 2025 at 8:30 a.m. ET. Listeners can access the webcast live through the Company’s website at https://investor.wyndhamhotels.com. The conference call may also be accessed by dialing 800 225-9448 and providing the passcode “Wyndham”. Listeners are urged to call at least five minutes prior to the scheduled start time. An archive of this webcast will be available on the website beginning at noon ET on February 13, 2025. A telephone replay will be available for approximately ten days beginning at noon ET on February 13, 2025 at 800 839-5127.
Presentation of Financial Information
Financial information discussed in this press release includes non-GAAP measures, which include or exclude certain items. These non-GAAP measures differ from reported GAAP results and are intended to illustrate what management believes are relevant period-over-period comparisons and are helpful to investors as an additional tool for further understanding and assessing the Company’s ongoing operating performance. The Company uses these measures internally to assess its operating performance, both absolutely and in comparison to other companies, and to make day to day operating decisions, including in the evaluation of selected compensation decisions. Exclusion of items in the Company’s non-GAAP presentation should not be considered an inference that these items are unusual, infrequent or non-recurring. Full reconciliations of GAAP results to the comparable non-GAAP measures for the reported periods appear in the financial tables section of this press release.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of franchised properties, with approximately 9,300 hotels across over 95 countries on six continents. Through its network of approximately 903,000 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 25 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, ECHO Suites®, Registry Collection Hotels®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 114 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit https://investor.wyndhamhotels.com. The Company may use its website and social media channels as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Disclosures of this nature will be included on the Company’s website in the Investors section, which can currently be accessed at https://investor.wyndhamhotels.com or on the Company’s social media channels, including the Company’s LinkedIn account which can currently be accessed at https://www.linkedin.com/company/wyndhamhotels. Accordingly, investors should monitor this section of the Company’s website and the Company’s social media channels in addition to following the Company’s press releases, filings submitted with the Securities and Exchange Commission and any public conference calls or webcasts.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements related to Wyndham’s current views and expectations with respect to its future performance and operations, including revenues, earnings, cash flow and other financial and operating measures, share repurchases and dividends and restructuring charges. Forward-looking statements are any statements other than statements of historical fact, including those that convey management’s expectations as to the future based on plans, estimates and projections at the time Wyndham makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “predict,” “intend,” “goal,” “future,” “forward,” “remain,” “confident,” “outlook,” “guidance,” “target,” “objective,” “estimate,” “projection” and similar words or expressions, including the negative version of such words and expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Wyndham to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, general economic conditions, including inflation, higher interest rates and potential recessionary pressures; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising business; Wyndham’s relationships with franchisees; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflicts between Russia and Ukraine and conflicts in the Middle East, respectively; global or regional health crises or pandemics including the resulting impact on Wyndham’s business, operations, financial results, cash flows and liquidity, as well as the impact on its franchisees, guests and team members, the hospitality industry and overall demand for and restrictions on travel; Wyndham’s ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to Wyndham’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and Wyndham’s ability to make or pay, plans for and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in Wyndham’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. These risks and uncertainties are not the only ones Wyndham may face and additional risks may arise or become material in the future. Wyndham undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.
Partners since 2010, new long-term agreement maintains Barclays US Consumer Bank as exclusive issuer of Wyndham’s award-winning suite of co-brand credit cards
WILMINGTON, Del. (February 11, 2025) – Barclays US Consumer Bank, a leading credit card issuer and financial services partner, today announced the long-term renewal of its co-branded credit card program with Wyndham Hotels & Resorts, the world’s largest hotel franchisor with approximately 9,200 hotels across more than 95 countries.
Under the newly signed agreement, Barclays will continue to be the exclusive issuer of the Wyndham Rewards Earner® Plus Card, Wyndham Rewards Earner® Card, and Wyndham Rewards Earner® Business Card. The award-winning suite of cards—designed specifically for road trippers and road warriors—offers up to 8x earn on gas purchases and Wyndham hotel stays, up to 5x earn on marketing, advertising and utility purchases (Wyndham Rewards Earner Business Card only) and up to 4x earn on restaurant and grocery purchases. Other benefits include Wyndham Rewards membership upgrades, booking discounts, anniversary bonuses and more.
“As champions of the everyday traveler, Wyndham is always looking for new ways to help our members stay engaged—both on the road and off,” said Kurt Albert, treasurer and head of financial partnerships and planning, Wyndham Hotels & Resorts. “Our suite of co-branded cards does just that, making it easy for members to earn points on their everyday spend. Best of all, every card is backed by the power of Barclays, ensuring exceptional service and support every step of the way.”
“We have a shared commitment to creating products that offer cardmembers great value and rewards that enhance their experiences with Wyndham,” said Doug Villone, head of cards and partnerships, Barclays US Consumer Bank. “This long-term contract extension reflects the successful partnership we’ve built and grown since 2010. For more than a decade, we’ve worked together to increase customer loyalty and engagement and look forward to building on this momentum in the years to come.”
Consistently recognized for its simplicity and generous rewards, Wyndham Rewards is the #1 rated hotel rewards program as named by both USA Today and U.S. News & World Report. Members—approximately 112 million enrolled around the world—earn a guaranteed 1,000 points with every qualified stay and can redeem for free nights starting at just 7,500 points. With more than 60,000 hotels, vacation club resorts and vacation rentals globally, no other hotel rewards program is more generous or offers members more places to stay.
To apply or learn more about Wyndham’s co-branded credit card programs, visit Barclaycardus.com. Terms and conditions apply.
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About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,200 hotels across over 95 countries on six continents. Through its network of approximately 893,000 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 25 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 112 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit wyndhamhotels.com.
About Barclays US Consumer Bank
Barclays US Consumer Bank is a leading co-branded credit card issuer and financial services partner in the United States that creates highly customized programs to drive customer loyalty and engagement for some of the country’s most successful travel, entertainment, retail, and affinity institutions. The bank offers co-branded, small business and private label credit cards, installment loans, online savings accounts, and CDs. For more information, please visit BarclaysUS.com.
World’s largest hotel franchisor positioned for long-term success following a year of global expansion, new brand openings and numerous owner and guest investments
PARSIPPANY, N.J. (January 28, 2025) – Following a banner year capping multiple milestones and accomplishments, Wyndham Hotels & Resorts is poised for continued growth and innovation in 2025. Chief among its priorities: complementing its strong foundation of economy and midscale brands with new upscale and lifestyle brands, while scaling technology and digital capabilities to deliver best-in-class experiences for hotel owners and guests.
“We navigated an unforgettable year in 2024, remaining steadfast in our ability to deliver for guests, owners and shareholders. From welcoming our 25th brand and expanding into new markets, to broadening our bench of aspirational hotels and generating new owner revenue streams via the industry’s best tech platform – 2024’s successes have both Wyndham and our franchisees well positioned for the years ahead.”
– Geoff Ballotti, president and CEO, Wyndham Hotels & Resorts
According to a recent McKinsey study, travel spending reached its highest level last year since 1960—driven by consumers’ shifting preferences for experiences over material goods. And it’s a trend poised to continue. The U.S. Travel Association projects travel spend to grow ~4% to $1.35 trillion in 2025, while recent Skift Research suggests global travel spend to increase by 9%. At the same time, the International Air Transport Association unveiled last month it expects global air travel to reach a record-breaking 5.2 billion passengers in 2025—up ~7% from 2024.
Driving Growth With recognizable brands spanning every segment of the industry, Wyndham saw continued global growth in 2024, adding a new brand, expanding its presence in key markets and building on its footprint in key segments like extended-stay. Among the highlights, the Company:
Opened its first ECHO Suites® Extended Stay by Wyndham hotels, reinforcing its position as the industry’s fastest-growing all new-construction brand. Early locations are seeing daily occupancy rates as high as 80% within weeks of opening. ECHO now makes up 14% of the Company’s development pipeline.
Expanded its offerings in the booming extended-stay segment with new upscale offerings, including the launch of WaterWalk Extended StaySM by Wyndham, its 25th brand, and the introduction of Wyndham Residences® in the U.S., a new tier within its namesake Wyndham® brand.
Strengthened its portfolio in key countries where it holds a significant presence, including the U.K., India, Türkiye and Mexico, while introducing 12 of its brands into a combined 22 new markets. The Company also announced an exclusive agreement to introduce its Microtel® brand in India, targeting 40 open hotels by 2031.
Joined forces with international lifestyle hospitality group, sbe, to introduce HQ Hotels & ResidencesSM, a new “smart lifestyle” brand affiliated with Registry Collection Hotels®. Focused on dining, nightlife and wellness, the brand opens its first hotel in Antigua this quarter: Hodges Bay Resort and Spa, a HQ Luxury Resort and Residences.
Tooled for Success Delivering on its OwnerFirst® approach to franchising, Wyndham further leveraged its unmatched size and scale in 2024 to provide franchisees with robust tools, solutions and innovative technology, helping them capture more business. Among the highlights, the Company:
Introduced Wyndham ConnectSM, helping hotels increase revenue and curate personalized guest experiences via AI-generated messaging, upsells, mobile check-in and check-out, mobile tipping and more. Approximately 2,000 of the Company’s hotels in North America are regularly engaging with the tool and seeing significant incremental revenue as a result.
Refreshed its Wyndham Business platform, anchored by the new Wyndham Rewards® Business, a B2B extension of Wyndham’s top-rated rewards program. Designed to simplify travel for business of all sizes, the re-imagined program offers rich savings and rewards, streamlined billing, membership upgrades, easy point management and more.
Created new opportunities for its BOLD® by Wyndham and Women Own the RoomSM members—promoting industry mentorship via Accelerator Circle and unlocking third-party financing solutions via investment firm Lafayette Square. Together, BOLD and Women Own the Room have resulted in more than 100 deals with nearly 40 hotels now open.
Championing the Everyday Traveler Further advancing its mission of making hotel travel possible for all, Wyndham continued championing the everyday traveler in 2024, launching new initiatives that further elevate the guest experience. Among the highlights, the Company:
Expanded its #1 ranked Wyndham Rewards program with new redemption offerings, bringing the total to more than 60,000 hotels, vacation club resorts and vacation rentals globally. No other major hotel rewards program offers members more places to redeem for stays.
Unveiled Wyndham Travel Packages, a one-stop-shop allowing Wyndham Rewards members to book and earn points on hotels, flights, car rentals, airport transfers, and even activities, all-in-one-go via WyndhamRewards.com.
Celebrated 50 Years of Super 8 with the debut of the brand’s new Innov8te 2.0 room design, a limited time consumer promotion and a special anniversary sweepstakes. Super 8 is one of the world’s largest economy hotel brands with over 2,600 locations.
Re-imagined its consumer marketing, leveraging top-tier creative partners to deliver campaigns that hit the right travelers at the right time with unmatched relevance, including the launch of the Company’s first-ever holiday campaign.
For more information about Wyndham Hotels & Resorts, including details on franchising opportunities, visit www.wyndhamdevelopment.com.
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About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,200 hotels across over 95 countries on six continents. Through its network of approximately 893,000 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 25 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 112 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit wyndhamhotels.com.
Forward Looking Statements This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements related to Wyndham’s current views and expectations with respect to future growth opportunities and strategies and travel trends. Forward-looking statements are any statements other than statements of historical fact, including those that convey management’s expectations as to the future based on plans, estimates and projections at the time Wyndham makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “predict,” “intend,” “goal,” “future,” “forward,” “remain,” “outlook,” “guidance,” “target,” “objective,” “estimate,” “projection” and similar words or expressions, including the negative version of such words and expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Wyndham to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, general economic conditions, including inflation, higher interest rates and potential recessionary pressures; global or regional health crises or pandemics including the resulting impact on Wyndham’s business, operations, financial results, cash flows and liquidity, as well as the impact on its franchisees, guests and team members, the hospitality industry and overall demand for and restrictions on travel; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising business; Wyndham’s relationships with franchisees; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflicts between Russia and Ukraine and conflicts in the Middle East, respectively; Wyndham’s ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to Wyndham’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and Wyndham’s ability to make or pay, plans for and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in Wyndham’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. These risks and uncertainties are not the only ones Wyndham may face and additional risks may arise or become material in the future. Wyndham undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.
For a limited time, stay two nights and earn 7,500 Wyndham Rewards points, enough for a free night at thousands of Hotels by Wyndham
PARSIPPANY, N.J. (December 11, 2024) – This holiday season, Wyndham Hotels & Resorts is sending a Public Service Announcement to travelers coast-to-coast: stay close to your loved ones without actually staying with them. It’s all part of the Company’s humorous, new ad campaign, dubbed “Stay Close,” which is now live across social, digital, email and brand.com in the U.S. and Canada.
Created in partnership with Havas New York and produced by Annex 88, Stay Close delivers a comedic spin on the universal truths of travel while poking fun at the common pitfalls of holiday family gatherings. Whether its escaping “aunt-arazzi” – the aspiring midlife influencer; Cousin Carl’s relentless investment pitches; or simply avoiding that dreaded pull-out couch; staying at a Hotel by Wyndham means happily embracing the chance to connect while knowing each night you can escape to a personal retreat.
“The holidays can be a magical time with family and friends, but let’s face it, a little personal space and a real bed go a long way. No matter where your travels may take you across the U.S. this holiday season, chances are there’s a Hotel by Wyndham just 10 minutes away.
– Marissa Yoss, VP Media and Brand Marketing, Wyndham Hotels & Resorts
Wyndham’s holiday campaign will launch with a comprehensive omnichannel strategy running through the end of the year, featuring 6- and 15-second ads on digital video and connected TV on YouTube, along with social media and email, reaching travelers with the all-too-relatable moments of holiday travel.
Whether opting for a comfortable hotel stay over Grandma’s pullout couch or simply seeking extra comfort while staying just close enough to family, holiday travelers can earn 7,500 bonus Wyndham Rewards points—enough for a free stay at thousands of Hotels by Wyndham—when they stay two nights, now through January 20, 2025. Nights do not need to be consecutive and Wyndham Rewards members may take advantage of the promotion two times for a total of 15,000 bonus points. Terms and conditions apply. For details, visit WyndhamRewards.com.
Ready to book your holiday getaway? Visit WyndhamHotels.com.
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About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,200 hotels across over 95 countries on six continents. Through its network of approximately 893,000 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 25 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 112 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit wyndhamhotels.com.
Lafayette Square targeting up to $100 million of its balance sheet to finance qualified Wyndham franchisees; executes first deal with Dr. Amina James for first Wyndham in Lake Charles, La.
PARSIPPANY, N.J. (November 14, 2024) – Wyndham Hotels & Resorts has teamed up with investment firm Lafayette Square to provide diverse hoteliers with improved access to capital. Through an exclusive relationship, Wyndham will vet and directly connect qualified owners with Lafayette Square, which aims to help hoteliers with up to $100 million in combined financing from the firm over the coming years. While not all hoteliers will qualify, viable candidates can use the funds to move forward projects that would otherwise stall due to lack of traditional financing.
Lafayette Square’s investment strategy addresses a critical issue diverse hoteliers face when it comes to access to capital and is the latest component of Wyndham’s BOLD (Black Owners and Lodging Developers) and Women Own the Room initiatives, which aim to bolster hotel ownership by Black and women entrepreneurs by addressing the unique challenges faced by each community. From networking and educational opportunities via the newly launched Accelerator Circle, to operational support and complimentary services to help maximize revenue, each program offers tailored solutions to help entrepreneurs on their path to hotel ownership. Together, BOLD and Women Own the Room have resulted in more than 100 hotel deals with Black and women hoteliers, of which more than 20 are now open.
“Inequities still exist within hospitality, especially when it comes to financing. Champions like Lafayette Square—who believe in our same mission—can help us bring greater representation to our industry. There are deserving, credible hoteliers that continue to face roadblocks, and we’re committed to using our network to not only give the keys to hotel ownership to more diverse owners, but ultimately help give them the access to tools, resources and partners they need to succeed.”
“Financing is an ongoing issue—particularly for diverse hotel owners— and there’s a growing need to intervene. We believe in elevating entrepreneurs who have historically not had the backing to succeed. Tapping into Wyndham’s network brings us and our resources to the epicenter of hospitality, helping make hotel ownership more attainable to qualified hoteliers.”
Advancing Hotel Ownership Despite a background in real estate and experience owning a hotel in Memphis, BOLD member Dr. Amina James continued to face the same challenges she had previously with banks upon exploring her next venture in Lake Charles, La., including high rates and deals that did not provide enough capital to fund her business plan. As a result, Wyndham introduced Dr. James to Lafayette Square, resulting in her becoming the first Wyndham franchisee to receive financing from the firm.
Because of Wyndham’s connection to Lafayette Square, Dr. James worked out a package solution facilitating the acquisition of her second hotel, which is now open as the Wyndham Lake Charles. With the financing, Dr. James plans to upgrade the property and streamline operations with a third-party management team.
“Because of Wyndham’s support, the credibility they saw in me and their connection to Lafayette Square, I can now say I own two hotels. BOLD and Women Own the Room are actively changing hospitality by forging the path – and knocking down the barriers along the way – to make hotel ownership possible. That’s a vision and a mission I’m proud to be part of.”
– Amina James, Wyndham Franchisee and Member of BOLD by Wyndham
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,200 hotels across over 95 countries on six continents. Through its network of approximately 893,000 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 25 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 112 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit wyndhamhotels.com.
About Lafayette Square Lafayette Square invests in middle market companies while positively supporting people and communities. We believe the demand for capital in businesses headquartered outside of high-income places is an overlooked opportunity. We seek investment opportunities that stimulate economic growth across the United States through the creation and preservation of working-class jobs. For more information, please visit www.lafayettesquare.com.
Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements related to Wyndham’s current views and expectations with respect to future availability of financing for hotel owners. Forward-looking statements are any statements other than statements of historical fact, including those that convey management’s expectations as to the future based on plans, estimates and projections at the time Wyndham makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “predict,” “intend,” “goal,” “future,” “forward,” “remain,” “outlook,” “guidance,” “target,” “objective,” “estimate,” “projection” and similar words or expressions, including the negative version of such words and expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Wyndham to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, general economic conditions, including inflation, higher interest rates and potential recessionary pressures; global or regional health crises or pandemics including the resulting impact on Wyndham’s business, operations, financial results, cash flows and liquidity, as well as the impact on its franchisees, guests and team members, the hospitality industry and overall demand for and restrictions on travel; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising business; Wyndham’s relationships with franchisees; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflicts between Russia and Ukraine and conflicts in the Middle East, respectively; Wyndham’s ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to Wyndham’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and Wyndham’s ability to make or pay, plans for and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in Wyndham’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. These risks and uncertainties are not the only ones Wyndham may face and additional risks may arise or become material in the future. Wyndham undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.
For a limited time, earn double Wyndham Rewards points on
hotels, flights, car rentals, and more with Wyndham Travel Packages
PARSIPPANY, N.J. (November 12, 2024) – Travelers planning their next adventure now have a simpler and more rewarding way to book. Starting today, Wyndham Rewards®—the world’s most generous rewards program with over 60,000 hotels, vacation club resorts, and vacation rentals worldwide—is enhancing the travel experience with the launch of Wyndham Travel Packages.
Available to all Wyndham Rewards members across the Americas, Wyndham Travel Packages allow members to book hotels, flights, car rentals, airport transfers, and even activities, all in one go via WyndhamRewards.com—earning Wyndham Rewards points for every aspect of their booking. From quick getaways to bucket-list escapes, now travelers can skip the hassle of booking through multiple sites and focus on what matters most: the journey ahead.
“Whatever the trip, wherever the destination, booking travel should be simple and rewarding. With Wyndham Travel Packages, we’re bringing together trusted brands from across the industry and giving members a seamless way to book virtually every aspect of their next getaway – all with the benefits of Wyndham Rewards, the #1 hotel rewards program.”
Maximizing Points Earned
Wyndham Rewards members can earn points on multiple aspects of travel when booking with Wyndham Travel Packages, ensuring that dollars spent translates into points. Here’s how:
Hotel Stays: Earn 10 Wyndham Rewards points per dollar spent on 9,200 hotels, excluding WaterWalk Extended Staysm by Wyndham hotels, which earn 5 points per dollar spent. Stays at Echo Suitessm Extended Stay by Wyndham will not accrue points.
Activities: Earn 10 Wyndham Rewards points per dollar spent on thousands of tours and activities, including walking tours, sports tickets, indoor skydiving, and more.
Airfare: Members earn one Wyndham Rewards point per dollar spent on airfare (excluding taxes, fees, and incidentals) through major carriers like United, American, Delta, and others.
Car Rentals: Members earn one Wyndham Rewards point per dollar spent on car rentals (excluding taxes, fees, and incidentals) through Avis and Budget.
Airport Transfers: Members earn one point per dollar spent on airport transfers with global car service companies like Talixo and Sixt Ride, among others.
Unlocking Added Value Alongside a generous earning structure, travelers can enjoy even more benefits when they book with Wyndham Travel Packages, including:
Air Miles: In addition to earning one Wyndham Rewards point per dollar spent on airfare, members can also earn airline miles by enrolling in participating carriers’ loyalty programs.
Member Discounts: Enjoy up to 10% off travel package bundles when booking as a Wyndham Rewards member.
Redeem Points for Hotel Stays: Save money on any Wyndham Travel Package by using Wyndham Rewards points to cover hotel costs.
Earn Double Points for a Limited Time
Now through December 31, 2024, Wyndham Rewards members can earn double points on all Wyndham Travel Packages. Travel must be completed by December 31, 2025. Terms and conditions apply; visit WyndhamHotels.com/TravelPackages for more details.
The Wyndham Travel Packages platform was created in collaboration with Snowstorm Technologies, a leading global provider of travel technologies. Currently, package cancellations or modifications for hotel and flight bookings must be made within 24-hours booking, with cancellation policies for other package components varying by vendor. Additional cancellation options are expected to be available on future bookings starting as early as next year. For more information and to book Wyndham Travel Packages, including terms and conditions, visit WyndhamHotels.com/TravelPackages.
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About Wyndham Rewards Part of Wyndham Hotels & Resorts (NYSE: WH), the world’s largest hotel franchising company, Wyndham Rewards is the #1 hotel rewards program as named by both U.S. News & World Report and USA Today. Members—approximately 112 million enrolled around the world—earn a guaranteed 1,000 points with every qualified stay and can redeem for free nights starting at just 7,500 points. With more than 60,000 hotels, vacation club resorts and vacation rentals globally, no other hotel rewards program is more generous or offers members more places to stay. Join for free at WyndhamRewards.com.
About Snowstorm Technologies
Snowstorm Technologies is a global leader in travel technology solutions, specializing in seamless booking platforms, custom integrations, and innovative user experiences. Snowstorm enables companies to transform complex travel services into streamlined, accessible, and rewarding platforms. Learn more at SnowtormTech.com.
Initial deals expand Wyndham’s upscale extended-stay footprint bringing five residence-style accommodations to urban destinations across the U.S.
PARSIPPANY, N.J. (Oct. 28, 2024) – Guests seeking contemporary, upscale residence-style accommodations in urban destinations now have new offerings to consider in key cities like Houston, Washington D.C and more as a result of a 10-year development relationship between Wyndham Hotels & Resorts, the world’s largest hotel franchisor, and Reside, a leading residential hospitality management company.
The franchise agreements bring five residence-style hotels that are open or under development to the Wyndham brand—marking the debut of its Wyndham Residence® tier in the U.S.—with a focus on expanding its offerings across top 50 markets in the U.S. The model caters to guests looking for both long-term, home-away-from-home units as well as those looking for a homebase for a quicker getaway. For more than three decades, Reside has successfully managed and operated alternative accommodations and multi-family units with a key focus on furnished corporate housing. Today, through its partnerships, the company boasts a presence in 60 countries around the world.
What’s more, this partnership builds on Wyndham’s foothold in the extended-stay segment, complementing its existing offerings across segments with ECHO Suites® Extended Stay by Wyndham, Hawthorn® Extended Stay by Wyndham and WaterWalk Extended StaySM by Wyndham. With the addition of Wyndham Residence® properties in the U.S., the Company reinforces its commitment to providing hotel opportunities for every owner and guest across segments.
“Reside has a proven track record as one of the most successful names in corporate housing. Whether you need a comfortable place to live for a prolonged time, or you simply need more space while traveling with a larger group, Reside’s model expands our extended-stay offerings, delivering premium, professionally managed accommodations in locations we know guests want to visit. By tapping into Wyndham’s distribution network, we help unlock new demand generators that can help scale their business to the next level.”
– Amit Sripathi, Chief Development Officer, Wyndham Hotels & Resorts
Convenient Comfort in Urban Destinations Several Wyndham Residences are already established in other parts of the world, including the United Arab Emirates, Greece and more, offering the comfort and convenience of home for business travelers and tourists alike. Through Reside, Wyndham Residences will bring guests to some of the country’s most iconic urban destinations, such as Seattle’s waterfront neighborhoods, the arts district of downtown Houston and the country’s historic capitol, Washington D.C.
Open locations include:
Reside Seattle Downtown, a Wyndham Residence: Settle into Seattle in the heart of one of the city’s most iconic waterfront neighborhoods with easy access to Pike Place Market, T-Mobile Park, Lumen Field and the Space Needle. The contemporary 55-room residence-style hotel is perfect for extended-stays and weekend getaways alike, offering a gym, free WiFi, on-site laundry and housekeeping for stays over five nights.
Reside Houston Downtown, a Wyndham Residence: Set in the center of downtown Houston near the Theater District, Houston Symphony Orchestra and Jones Hall, the 79-room residence-style hotel unlocks endless adventures in H-town. The former auto showroom creatively adapts the space into a modern sanctuary with nods to its industrial past with original hardwood and factory windows. Guests can enjoy a 24-hour gym, fully equipped kitchens and in unit laundry.
Future locations include:
New Orleans: The 22-room residence-style hotel is located in the historic Bywater neighborhood known for its majestic magnolia trees and vibrant music scene, just about a mile away from the French Quarter. In addition to offering guests full kitchens and washers and dryers in unit, the hotel will have a restaurant showcasing the beloved flavors of New Orleans, an art gallery and coffee and wine bars for guests to enjoy.
Washington D.C.: Located steps from Barracks Row in DC’s Navy Yard, the 81-room residence-style hotel connects two buildings into one memorable stay. Guests will enjoy modern amenities like in-room chef-ready kitchens with stainless steel appliances, reliable Wi-Fi and in-unit laundry. For those looking to explore, guests will also be able to take in the historic charm and dynamic food scene in the surrounding area.
Washington D.C.: Set in DC’s NOMA neighborhood near downtown and Union Market, the 67-room residence-style hotel will offer an upscale, modern home away from home. With a sleek design, spaces will include in-room chef-ready kitchens, fast Wi-Fi and 24/7 gym access. Its location will also provide easy access to historic landmarks, museums and can’t miss dining experiences for foodies coming to town.
“We’ve been in this business for decades, providing quality and comfort to people looking for a reliable homebase. By partnering with Wyndham, we unlock access to its expansive distribution channels—including its network of approximately 112 million enrolled loyalty members—and join forces in delivering the memorable experiences in iconic cities today’s extended-stay guests are craving.”
– Lee Curtis, Founder & CEO, Reside
The #1 Hotel Rewards Program Wyndham hotels participate in Wyndham Rewards®, the Company’s award-winning rewards program with over 60,000 hotels, vacation club resorts and vacation rentals worldwide. With approximately 112 million enrolled members worldwide, Wyndham Rewards is the only hotel loyalty program where members earn a guaranteed 1,000 points with every qualified stay.
Accounting for approximately half of all U.S. check-ins, members can easily redeem points towards free nights at tens of thousands of hotels, vacation club resorts and vacation rentals around the world or a host of other rewards like tours, activities, gift cards, shopping and more. Offering three simple redemption tiers, free nights start at just 7,500 points per room per night, while discounted nights start at just 1,500 points per room per night.
Images associated with the above release are available here.
ENDS
About Reside Headquartered in Seattle, WA, Reside is the leading provider of professionally operated and managed global alternative accommodations with a portfolio of premier hospitality and technology brands. Reside’s mission is to present a new way to stay; offering a curated experience to guests no matter the destination or duration of their stay. Reside operates in over 60 countries across the globe, providing a diversified selection of options to satisfy the growing consumer demand for dependable, high-quality housing solutions for business or leisure travel. To learn more visit www.staywithreside.com.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,200 hotels across over 95 countries on six continents. Through its network of approximately 893,000 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 25 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 112 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit wyndhamhotels.com.
Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements related to Wyndham’s current views and expectations with respect to expected hotel openings. Forward-looking statements are any statements other than statements of historical fact, including those that convey management’s expectations as to the future based on plans, estimates and projections at the time Wyndham makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “predict,” “intend,” “goal,” “future,” “forward,” “remain,” “outlook,” “guidance,” “target,” “objective,” “estimate,” “projection” and similar words or expressions, including the negative version of such words and expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Wyndham to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, general economic conditions, including inflation, higher interest rates and potential recessionary pressures; global or regional health crises or pandemics including the resulting impact on Wyndham’s business, operations, financial results, cash flows and liquidity, as well as the impact on its franchisees, guests and team members, the hospitality industry and overall demand for and restrictions on travel; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising business; Wyndham’s relationships with franchisees; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflicts between Russia and Ukraine and conflicts in the Middle East, respectively; Wyndham’s ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to Wyndham’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and Wyndham’s ability to make or pay, plans for and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in Wyndham’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. These risks and uncertainties are not the only ones Wyndham may face and additional risks may arise or become material in the future. Wyndham undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.
Company Raises Full-Year 2024 EPS Outlook and Reaffirms Remaining Outlook
Grows System Size by 4% and Development Pipeline by 5%
PARSIPPANY, N.J., October 23, 2024 – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended September 30, 2024. Highlights include:
System-wide rooms grew 4% year-over-year.
Opened over 17,000 rooms globally, including nearly 7,000 in the U.S., which increased 15% year-over-year, and the second ECHO Suites Extended Stay by Wyndham.
Awarded 197 development contracts globally, including 95 contracts in the U.S., which increased 10% year-over-year.
Development pipeline grew 1% sequentially and 5% year-over-year to a record 248,000 rooms.
Global RevPAR grew 1% in constant currency.
Ancillary revenues increased 8% compared to third quarter 2023.
Diluted earnings per share increased 7%, to $1.29, and adjusted diluted EPS grew 6%, to $1.39, or approximately 10% on a comparable basis.
Net income was $102 million for the third quarter, a 1% decrease over the prior-year quarter; adjusted net income was $110 million, a 1% decrease over the prior-year quarter, or a 3% increase on a comparable basis.
Adjusted EBITDA increased 4% compared with the prior-year quarter, to $208 million, or 7% on a comparable basis.
Returned $126 million to shareholders through $97 million of share repurchases and quarterly cash dividends of $0.38 per share.
“Our teams around the world once again delivered exceptional results, executing our long-term growth strategy and achieving 7% growth in comparable adjusted EBITDA fueled by continued system expansion, higher royalty rates and growth in our ancillary revenues,” said Geoff Ballotti, president and chief executive officer. “We awarded 10% more franchise contracts domestically this quarter, driving 5% growth in our development pipeline. Stabilizing RevPAR trends and improving comparisons coupled with increased infrastructure demand are expected to pave the way for improved results in the coming quarters. We remain steadfast in our long-term strategy, aimed at delivering outstanding value to our guests, franchisees and shareholders to whom we’ve returned nearly $380 million year-to-date in the form of dividends and share repurchases.”
System Size and Development
The Company’s global system grew 4%, reflecting 1% growth in the U.S. and 8% internationally. As expected, these increases included 3% growth in the higher RevPAR midscale and above segments in the U.S., as well as strong growth in the Company’s EMEA and Latin America regions, which each grew 11%. The Company continued to improve its retention rate and remains solidly on track to achieve its net room growth outlook of 3 to 4% for the full year 2024.
On September 30, 2024, the Company’s global development pipeline consisted of approximately 2,100 hotels and 248,000 rooms, representing another record-high level and a 5% year-over-year increase. Key highlights include:
7% growth in the U.S. and 3% internationally
17th consecutive quarter of sequential pipeline growth
Approximately 70% of the pipeline is in the midscale and above segments, which grew 6% year-over-year
Approximately 14% of the pipeline represents ECHO Suites Extended Stay by Wyndham for which the Company has awarded a total of 283 contracts since its launch.
Approximately 58% of the pipeline is international
Approximately 79% of the pipeline is new construction and approximately 35% of these projects have broken ground
During the third quarter of 2024, the Company awarded 197 new contracts, including 95 contracts in the U.S., which increased 10% year-over-year.
RevPAR
Third quarter global RevPAR increased 1% in constant currency compared to 2023, reflecting a 1% decline in the U.S. and 7% growth internationally.
In the U.S., RevPAR for the Company’s midscale and above segments was unchanged year-over-year while RevPAR for its economy segment declined 2% reflecting a modest acceleration from the second quarter with a sequential improvement of 10 basis points. Additionally, the Company’s U.S. economy brands continued to strengthen their position, gaining 50 basis points of market share in the third quarter driven by performance in oil and gas markets, which grew 250 basis points in the quarter, and in the five states with the highest infrastructure bill spend, which collectively grew 80 basis points. U.S. occupancy remained consistent, highlighting the resilience of the select-service space and consumer demand for these products.
Internationally, RevPAR for the Company’s EMEA, Latin America and Canada regions collectively increased 13% due to both continued pricing power, with ADR up 11%, and occupancy growth of 2%. RevPAR for the Company’s APAC region declined 7% driven by a 2% decrease in occupancy and a 5% decrease in ADR. Importantly, the third quarter RevPAR performance for APAC represented a 500 basis point sequential improvement.
Third Quarter Operating Results
Fee-related and other revenues were $394 million compared to $400 million in third quarter 2023, which included $18 million of pass-through revenues associated with the Company’s 2023 global franchisee conference, absent which, fee-related and other revenue increased 3%. The growth in fee-related and other revenues reflects higher royalties and franchise fees and ancillary revenues.
The Company generated net income of $102 million compared to $103 million in third quarter 2023. The decrease was primarily reflective of higher interest expense, partially offset by higher adjusted EBITDA.
Adjusted EBITDA grew 4% to $208 million compared to $200million in third quarter 2023. This increase included a $5 million unfavorable impact from marketing fund variability, excluding which adjusted EBITDA grew 7% on a comparable basis, primarily reflecting higher royalties and franchise fees, increased ancillary revenues and margin expansion.
Diluted earnings per share was $1.29 compared to $1.21 in third quarter 2023. This increase primarily reflects the benefit of a lower share count due to share repurchase activity.
Adjusted diluted EPS grew 6% to $1.39 compared to $1.31 in third quarter 2023. This increase included an unfavorable impact of $0.04 per share related to expected marketing fund variability (after estimated taxes). On a comparable basis, adjusted diluted EPS increased approximately 10% year-over-year reflecting comparable adjusted EBITDA growth and the benefit of share repurchase activity, partially offset by higher interest expense.
During third quarter 2024, the Company’s marketing fund revenues exceeded expenses by $12 million, in line with expectations; while in third quarter 2023, the Company’s marketing fund revenues exceeded expenses by $17 million, resulting in $5 million of marketing fund variability. The Company continues to expect marketing fund revenues to roughly equal expenses during full-year 2024.
Full reconciliations of GAAP results to the Company’s non-GAAP adjusted measures for all reported periods appear in the tables to this press release.
Balance Sheet and Liquidity
The Company generated $79 million of net cash provided by operating activities and $96 million of adjusted free cash flow in third quarter 2024. The Company ended the quarter with a cash balance of $72 million and approximately $750 million in total liquidity.
The Company’s net debt leverage ratio was 3.5 times at September 30, 2024, the midpoint of the Company’s 3 to 4 times stated target range.
During the third quarter of 2024, the Company executed $350 million of new interest rate swaps on its Term Loan B Facility, which will expire in 2028. The fixed rate of the new swaps is 3.3%. As a result, the Company ended the third quarter with approximately 80% of its total debt at a fixed rate and 20% variable.
Share Repurchases and Dividends
During the third quarter, the Company repurchased approximately 1.3 million shares of its common stock for $97 million. Year-to-date through September 30, the Company repurchased approximately 3.8 million shares of its common stock for $285 million.
The Company paid common stock dividends of $29 million, or $0.38 per share, during the third quarter 2024 and $92 million, or $1.14 per share, year-to-date.
Full-Year 2024 Outlook
The Company is refining its outlook as follows:
Year-over-year growth rates for adjusted EBITDA, adjusted net income and adjusted diluted EPS are not comparable due to full-year 2023 marketing fund revenues exceeding expenses by $9 million, which substantially completed the recovery of the $49 million support the Company provided to its owners during COVID. The Company continues to expect marketing fund revenues to equal expenses during full-year 2024 though seasonality of spend will affect the quarterly comparisons throughout the year.
More detailed projections are available in Table 8 of this press release. The Company is providing certain financial metrics only on a non-GAAP basis because, without unreasonable efforts, it is unable to predict with reasonable certainty the occurrence or amount of all of the adjustments or other potential adjustments that may arise in the future during the forward-looking period, which can be dependent on future events that may not be reliably predicted. Based on past reported results, where one or more of these items have been applicable, such excluded items could be material, individually or in the aggregate, to the reported results.
Conference Call Information
Wyndham Hotels will hold a conference call with investors to discuss the Company’s results and outlook on Thursday, October 24, 2024 at 8:30 a.m. ET. Listeners can access the webcast live through the Company’s website at https://investor.wyndhamhotels.com. The conference call may also be accessed by dialing 800 579-2543 and providing the passcode “Wyndham”. Listeners are urged to call at least five minutes prior to the scheduled start time. An archive of this webcast will be available on the website beginning at noon ET on October 24, 2024. A telephone replay will be available for approximately ten days beginning at noon ET on October 24, 2024 at 800 695-0715.
Presentation of Financial Information
Financial information discussed in this press release includes non-GAAP measures, which include or exclude certain items. These non-GAAP measures differ from reported GAAP results and are intended to illustrate what management believes are relevant period-over-period comparisons and are helpful to investors as an additional tool for further understanding and assessing the Company’s ongoing operating performance. The Company uses these measures internally to assess its operating performance, both absolutely and in comparison to other companies, and to make day to day operating decisions, including in the evaluation of selected compensation decisions. Exclusion of items in the Company’s non-GAAP presentation should not be considered an inference that these items are unusual, infrequent or non-recurring. Full reconciliations of GAAP results to the comparable non-GAAP measures for the reported periods appear in the financial tables section of this press release.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,200 hotels across over 95 countries on six continents. Through its network of approximately 893,000 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 25 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 112 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit https://investor.wyndhamhotels.com. The Company may use its website and social media channels as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Disclosures of this nature will be included on the Company’s website in the Investors section, which can currently be accessed at https://investor.wyndhamhotels.com or on the Company’s social media channels, including the Company’s LinkedIn account which can currently be accessed at https://www.linkedin.com/company/wyndhamhotels. Accordingly, investors should monitor this section of the Company’s website and the Company’s social media channels in addition to following the Company’s press releases, filings submitted with the Securities and Exchange Commission and any public conference calls or webcasts.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements related to Wyndham’s current views and expectations with respect to its future performance and operations, including revenues, earnings, cash flow and other financial and operating measures, share repurchases and dividends and restructuring charges. Forward-looking statements are any statements other than statements of historical fact, including those that convey management’s expectations as to the future based on plans, estimates and projections at the time Wyndham makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “predict,” “intend,” “goal,” “future,” “forward,” “remain,” “outlook,” “guidance,” “target,” “objective,” “estimate,” “projection” and similar words or expressions, including the negative version of such words and expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Wyndham to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, general economic conditions, including inflation, higher interest rates and potential recessionary pressures; global or regional health crises or pandemics including the resulting impact on Wyndham’s business, operations, financial results, cash flows and liquidity, as well as the impact on its franchisees, guests and team members, the hospitality industry and overall demand for and restrictions on travel; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising business; Wyndham’s relationships with franchisees; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflicts between Russia and Ukraine and conflicts in the Middle East, respectively; Wyndham’s ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to Wyndham’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and Wyndham’s ability to make or pay, plans for and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in Wyndham’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. These risks and uncertainties are not the only ones Wyndham may face and additional risks may arise or become material in the future. Wyndham undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.
Enhancing Wyndham’s BOLD and Women Own the Room initiatives, franchisees unlock exclusive access to industry experts to help support successful ownership
PARSIPPANY, N.J. (October 7, 2024) – Networking for Wyndham’s Black Owners and Lodging Developers (BOLD) and Women Own the Room franchisees just got easier with access to peer-to-peer connections and expert mentorship. Created on the foundation of building community for diverse hoteliers, the new Accelerator Circle gives BOLD and Women Own the Room franchisees exclusive access to Wyndham’s network of existing owners and industry experts through quarterly, small-group virtual meetups focused on fast-tracking hotel openings and maximizing performance.
From networking and education to operational support and complimentary services to help maximize revenue, BOLD and Women Own the Room offer tailored solutions to help break down the common barriers each group faces when pursuing hotel ownership. Together, BOLD and Women Own the Room have resulted in more than 90 hotel deals with Black and women hoteliers with more than 20 hotels that are now open. With Accelerator Circle, Wyndham leverages its position as the world’s largest hotel franchisor to reinforce its commitment of bringing greater diversity to hospitality.
“Navigating hotel ownership isn’t easy, with many owners facing the same challenges over and over. Wyndham’s Accelerator Circle connects a dynamic community for Black and women entrepreneurs who haven’t always had the support of our industry. It’s a space for owners to exchange knowledge, learn from seasoned pros, and the expected result? A more diverse industry with a new wave of empowered, savvy owners.”
Accelerating Ownership Through Community Created to help entrepreneurs from the time they consider hotel ownership all the way through opening a hotel, both BOLD and Women Own the Room put a key emphasis on fostering an interactive community that supports greater diversity in hospitality. With Accelerator Circle, Wyndham takes the focus to the next level by facilitating connection among its BOLD and Women Own the Room owners, allowing them to learn from shared experiences and grow together as an engaged community.
In line with its Owner First approach to franchising, Accelerator Circle sessions will focus on topics that come directly from franchisees, including securing financing, hotel renovations, development and operations, among others. Sessions will be led by industry professionals—spanning Wyndham team members, industry experts and owner peers—facilitating strategic, peer-to-peer discussions and providing insights focused on the real-time concerns owners face today.
Kicking off the series for Accelerator Circle this fall, WaterWalk CEO Mimi Oliver will lead a discussion focused on optimizing relationships with franchisors. During her tenure, Mimi has overseen the development, opening and operations for numerous hotels, raised more than $100 million in equity for the company, and most recently, joined forces with Wyndham as the Company’s 25th brand, WaterWalk Extended Stay by Wyndham. Along with being a trailblazer as a woman executive in the industry, she’s witnessed the incredible success of her late grandfather, Jack DeBoer, the extended-stay pioneer who led the way for the segment. Future sessions will be hosted by other industry professionals with topics spanning fundraising, construction and renovation, creating an optimal staffing model and more.
“Hotel ownership is challenging, and I’ve seen firsthand how valuable it is to have a circle of supporters to help navigate those difficulties and drive success. I was drawn to Wyndham because of their dedication to increasing diversity in hospitality, and Accelerator Circle is one meaningful way I can give back to inspire future generations—especially those who might not see a clear path—to join our fantastic industry.”
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,200 hotels across over 95 countries on six continents. Through its network of nearly 885,000 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 25 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 110 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit wyndhamhotels.com.
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