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
Additions expand fast-growing soft brand to five countries and more than 100 locations;
Canadian roster includes five open hotels and resorts and seven recently signed deals across six provinces
Georgian Bay Hotel, Trademark Collection by Wyndham, is one of the newest additions to Trademark's growing Canadian footprint.Click to Download
PARSIPPANY, N.J., November 27, 2018 – Since launching less than 18 months ago as Wyndham Hotels & Resorts’ (NYSE:WH) first soft-brand, Trademark Collection® by Wyndham is continuing its rapid growth around the world and raising its flag in Canada with a dozen recently signed hotels and resorts spanning the country. These additions – five of which have opened doors in British Columbia and Ontario, and another seven set to open within the next year in Nova Scotia, New Brunswick, Alberta, and Saskatchewan – bolster the brand’s footprint on both sides of the Atlantic with the Trademark name now adorning more than 100 hotels in North America and Europe.
Launched in 2017, Trademark is the first soft-brand geared to three- and four-star hotel owners passionate about upholding their hotels’ independent spirit and designed for everyday travelers seeking distinctive, attainable accommodations in sought-after destinations. Today, travelers can tap global, award-winning Trademark experiences like The INFINITY Hotel & Conference Center in Munich, Germany, and the HYPERION Hotel Basel in Basel, Switzerland, as well as notable American locations like the Galt House Hotel in Louisville, Ky., Ravel Hotel in Long Island City, N.Y., and the Zermatt Utah Resort & Spa in Midway, Utah.
“This global momentum is a testament to Trademark’s mounting appeal as one of the most compelling soft-branded offerings for independent hoteliers across the globe,” said Greg Giordano, vice president, brand operations, Trademark Collection by Wyndham. “These recent landmark additions, located in some of Canada’s most coveted travel spots, underscore what it means to be a Trademark hotel—unmatched character, charm, and individuality. These hotels are now backed by the global distribution power of a leading hospitality name in Wyndham, and a team passionate about driving more travelers through entrepreneurial hoteliers’ doors every day.”
Planting Roots in the Great White North
Trademark’s Canadian additions widen the brand’s presence in North America, joining nearly 50 hotels across the U.S. The first locations flying the Trademark flag in Canada include:
Georgian Bay Hotel & Conference Centre, Trademark Collection by Wyndham, in Collingwood, Ontario:Located in one of the country’s most spectacular natural landscapes, the 94-room Georgian Bay Hotel & Conference Centre gives guests easy access to year-round outdoor activities, up-and-coming wineries, trendy boutiques and galleries, and award-winning dining in the heart of Collingwood, just 90 minutes north of Toronto Pearson International Airport. Recent renovations have transformed the hotel by infusing modern design, comfort, and enhanced functionality into its lobby, restaurant, on-site spa, indoor pool, standard guest rooms and nearly 9,400 square feet of meeting and event space, which can accommodate up to 400 guests. The hotel also offers customized leisure, event, and corporate packages.
The Plaza Hotel, Trademark Collection by Wyndham, in Kamloops, British Columbia: Built in 1928, the 67-room Plaza Hotel in downtown Kamloops balances modern decor and conveniences with historic British Columbian charm. The renovated hotel is conveniently located just steps from the city’s shops and restaurants, and close to popular attractions like Riverside Park and Exhibition Park. Complimentary hotel amenities and services include daily breakfast, wireless internet access, and access to nearby fitness and wellness centers.
Further propelling the brand’s momentum in Canada are two recently signed franchise agreements bringing seven Trademark hotels to four additional Canadian provinces. Wyndham recently executed a deal with Advanced Lodging, Inc., for three highly rated hotels in Eastern Canada scheduled to open under the Trademark brand by the end of the year: Chateau Bedford in Halifax, Nova Scotia; Chateau Moncton in Moncton, New Brunswick; and Chateau Saint John in Saint John, New Brunswick, located just two kilometers (a little over one mile) from Wyndham’s Canadian-based contact center. In Western Canada, another four Trademark locations will open their doors in 2019 in Alberta and Saskatchewan through a franchise agreement with Royal Hotel Group.
All Trademark hotels participate in Wyndham Rewards®, the simple-to-use, revolutionary loyalty program from Wyndham Hotels & Resorts. Named a best hotel rewards program for the past three consecutive years by U.S. News and World Report, Wyndham Rewards offers members a generous points-earning structure along with a flat, free night redemption rate—the first of its kind for a major rewards program. Learn more at www.wyndhamrewards.com.
ABOUT TRADEMARK COLLECTION BY WYNDHAM Each of Trademark Collection by Wyndham’s upper-midscale-and-above hotels around the world—from Germany and Switzerland to New York and Florida—boast three common attributes: character, charm, and individuality. Launched in 2017, Trademark is the first soft-brand geared to three- and four-star hotel owners passionate about upholding their hotels’ independent spirit and designed for everyday travelers seeking distinctive, attainable accommodations in sought-after destinations. For more information, visit www.wyndhamhotels.com/trademark.
ABOUT WYNDHAM HOTELS & RESORTS
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with 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.
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.
Wyndham Rewards®, the world’s most generous guest rewards program spanning more than 25,000 hotels, vacation club resorts and vacation rentals globally, has been named this year’s best hotel loyalty program in the USA TODAY 10Best Readers’ Choice Awards. The award marks a total of nearly 70 accolades for the program in a little more than three years.
Wyndham Rewards was nominated by a panel of industry experts, including editors from USA TODAY and 10Best.com, as well as other expert contributors and won the competition after USA TODAY readers had four weeks to vote online daily for their favorite program. Wyndham Rewards has received similar accolades for its co-branded credit card in recent years, the Wyndham Rewards® Visa® Card, which was named Best Co-Brand Credit Card in both 2016 and 2017.
“This latest award is a testament to the work we’ve done creating a simple and generous guest rewards program that truly works for the everyday traveler,” said Eliot Hamlisch, vice president of worldwide loyalty and partnerships at Wyndham Hotels & Resorts. “We’re incredibly grateful to the more than 59 million enrolled Wyndham Rewards members who helped make this happen and remain committed now, more than ever, to our mission of making hotel travel possible for all.”
Centered on the notion that a great rewards program can be generous without being overly complicated, Wyndham Rewards is the only hotel rewards program to offer members a flat-redemption rate of just 15,000 points per room, per night at any of its redemption offerings around the world. Members earn a guaranteed 1,000 points with every qualified stay and, through four different member levels, can unlock additional perks, like late check-out and a preferred room, after as few as five nights.
Wyndham Rewards members can currently save 15% off or more, plus earn 100 Wyndham Rewards bonus points, when they book and pay for their stay at least seven days in advance at any participating Wyndham Rewards hotel. For full terms and conditions, or to book, visit www.wyndhamrewards.com.
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About Wyndham Rewards
Consistently named a best travel rewards program by U.S. News and World Report, Wyndham Rewards® is the world’s most generous loyalty program offering members a simple earning structure of a guaranteed 1,000 points for every qualified stay, along with a flat, free night redemption rate of just 15,000 points per room per night – the first of its kind for a major rewards program. Wyndham Rewards members can enjoy the benefits of the program at more than 8,000 Wyndham Hotels & Resorts (NYSE: WH) properties, as well as tens of thousands of vacation club resorts, affiliated resorts and vacation rentals worldwide in partnership with Wyndham Destinations (NYSE: WYND). Join for free today at www.wyndhamrewards.com. You’ve earned this.®
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, 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., November 1, 2018 – Super 8® by Wyndham, the world’s largest economy hotel brand, today announced it will auction to the public its critically-acclaimed, one-of-a-kind hotel-inspired concept car ROADM8 and additional Super 8-themed items, with 100 percent of the auction sales benefiting one of the nation’s leading military non-profits, Fisher House Foundation. Through its Fisher House program, the Foundation provides a no cost, “home away from home” for families of patients receiving medical care at major military and VA medical centers.
Available now through November 29th at Super8.com/ROADM8, the auction complements the brand’s existing service-member centric initiatives like complimentary reserved parking for veterans at hotels across the U.S. and Canada. What’s more, through December 10, 2018, Super 8 will increase the discount it offers service members and their families, raising it from 15 percent off the best available rate to 20 percent off plus 500 Wyndham Rewards bonus points.
“Super 8 has a proud history of honoring and saying thank you to those who serve, and we feel this is one more way for us to build upon that legacy,” said Mike Mueller, brand leader and senior vice president of Super 8. “When we launched ROADM8, we knew we ultimately wanted to use the vehicle as a means for giving back and creating a positive impact for the military community. We have no doubt that, with the help of Fisher House Foundation, which has earned stellar marks across the board for supporting veterans and their families, we’ll be doing exactly that.”
A Car with a Cause Launched earlier this year at the New York International Auto Show, ROADM8 is the first-ever concept car created by a hotel brand. The vehicle was inspired by Super 8’s recent re-design, which is the largest in the brand’s 45-plus-year history including more than $100 million in room renovations at its hotels across North America.
Super 8 worked with industry-leading fabricators —several with ties to some of Hollywood’s most iconic vehicles— to customize ROADM8 from the base of a 2017 Jeep Wrangler Unlimited Sport 4×4. Inside it evokes the warm colors, sleek finishes and hyper-local black and white art of the brand’s newly renovated rooms. It also features innovative amenities like an on-demand coffee maker, a built-in mini-fridge, tablet entertainment, easy USB charging and Wi-Fi, among others. Bidding for ROADM8 starts at $20,000 USD.
“Fisher House Foundation is proud to partner with Super 8 by Wyndham,” said Ken Fisher, chairman and CEO of Fisher House Foundation. “Fisher Houses can provide sanctuary for more than 1,000 families every night in 78 homes. That would be impossible without Americans across the nation, including the team at Super 8 by Wyndham, whose support helps bring military and veterans families together when they need it most. We thank Super 8 by Wyndham for their generosity and thinking of Fisher House Foundation.”
Alongside ROADM8, Super 8 is auctioning off seven additional items, giving fans a chance to bring their favorite aspects of the brand home with them like bedding and photography from the brand’s newly redesigned rooms, multi-night stay packages and vintage postcard art sure to delight any travel-enthusiast’s art collection. Starting bids for these items range from $25 to $50 USD each.
To learn more about Super 8 by Wyndham and its efforts to support those who serve, as well as full terms and conditions for the brand’s service member discount, visit www.super8.com/military. To learn more about ROADM8, including full auction rules, or to place a bid on any of the items listed above, visit www.super8.com/ROADM8.
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About Super 8 by Wyndham For more than four decades, Super 8® by Wyndham—the world’s largest economy hotel brand with more than 2,800 hotels globally—has served as a trusted and convenient companion on the road. Today, we’re on a mission to elevate economy, modernizing the brand for the next generation of traveler with newly redesigned rooms, fast, free Wi-Fi and a complimentary SuperStart® breakfast.
A strong supporter of our servicemen and women, Super 8 is proud to offer reserved parking for Veterans at all North American locations along with a 20% discount off our best available rate plus 500 Wyndham Rewards bonus points to members of the military and their family. To learn more, or to book your next stay, visit www.super8.com. You can also like us on Facebook (www.facebook.com/super8) and follow us on Instagram (www.instagram.com/super8). See you on the road.
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.
About Fisher House Foundation Fisher House Foundation is best known for a network of comfort homes where military and veterans’ families can stay at no cost while a loved one is receiving treatment. These homes are located at major military and VA medical centers nationwide, and in Europe, close to the medical center or hospital it serves. Fisher Houses have up to 21 suites, with private bedrooms and baths. Families share a common kitchen, laundry facilities, a warm dining room and an inviting living room. Fisher House Foundation ensures that there is never a lodging fee. Since inception, the program has saved military and veterans’ families an estimated $400+ million in out of pocket costs for lodging and transportation.
Fisher House Foundation also operates the Hero Miles Program, using donated frequent flyer miles to bring family members to the bedside of injured service members as well as the Hotels for Heroes program using donated hotel points to allow family members to stay at hotels near medical centers without charge. The Foundation also manages a grant program that supports other military charities and scholarship funds for military children, spouses and children of fallen and disabled veterans. www.fisherhouse.org
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.
Global hospitality leader achieves Gold LEED recertification from U.S. Green Building Council, top ENERGYSTAR score, and platinum-level designation as a New Jersey Smart Workplace
PARSIPPANY, N.J. (October 25, 2018) –Wyndham Hotels & Resorts (NYSE: WH), the world’s largest hotel franchising company, has received a Gold recertification from the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) program for the company’s headquarters in Parsippany, N.J. The recertification designates Wyndham Hotels & Resorts corporate campus as one of the highest-performing green buildings in the country, reflecting the Company’s commitment to minimizing its environmental footprint.
LEED is a third-party certification program and premier benchmark for the design, construction and operation of green buildings. It uses a point system to determine the environmental merits of a building, with four levels of certification, depending on how many points the project has earned: certified, silver, gold or platinum. The building received its first Silver Certification for Corporate Interiors in 2010, a second Silver certification for Existing Buildings: Operations and Maintenance (EBOM) in 2013, and this recent Gold EBOM recertification, which was earned through water reduction, green cleaning and indoor air quality management.
“At Wyndham Hotels & Resorts, we’re building on our legacy of developing eco-friendly initiatives across our operations,” said Mary Falvey, chief administrative officer, Wyndham Hotels & Resorts. “We remain committed to implementing innovative environmental practices, not only for our hotel portfolio, but also for our corporate offices, as this effort reduces costs, fosters the efficient use of resources, and supports profitability.”
Wyndham Hotels & Resorts achieved a Gold LEED recertification through site related credits, such as:
Open habitat protection – The building has native vegetation covering a minimum of 25% of the total land area. These natural areas provide a habitat and promote biodiversity.
Storm water management – The Company implemented a storm water management plan to ensure runoff is effectively retained onsite from at least 15% of all precipitation for an average weather year, while also accounting for the potential of above-average rain totals.
Water efficient landscaping – The building eliminated irrigation on mature plant life and utilized natural and adaptive plantings on site to further minimize water usage.
Additionally, over the past five years, the Wyndham Hotels & Resorts’ headquarters building has improved its score for energy efficiency through ENERGY STAR. Supported by the U.S. Environmental Protection Agency, buildings that earn the ENERGY STAR use, on average, 35 percent less energy than their peers.
To help further reduce its carbon footprint at its headquarters in New Jersey, the Company provides sustainable transportation options for employees, earning Wyndham Hotels & Resorts the designation as a 2018 Platinum-level New Jersey Smart Workplace (NJSW) by TransOptions for the seventh year in a row. The NJSW program recognizes employers who have made great strides in providing commuting alternatives, and the company’s perks include premier parking spots for employees who carpool and drive hybrid vehicles, car charging stations for hybrid or electric vehicles, mass transit options, including a free shuttle to/from the local train station.
“The greening efforts at our headquarters building positively affect our people, who are our Company’s best asset,” said Bill Skrzat, chief human resources services officer. “By reducing our carbon footprint and providing commuting alternatives, we are supporting our team members’ best work, which in turn allows them to take the greatest care of our guests and partners.”
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.
Classic New Jersey landmark to renovate 296 guestrooms, event spaces and dining outlets;
$17 Million transformation to be completed for summer 2019
Above, an image of the new room design at Seaview, a Dolce Hotel, invoking cool, coastal blues inspired by the sea and featuring modern furnishings and amenities for guests.Click to Download
GALLOWAY, NJ (October 16, 2018): Seaview, a Dolce Hotel – part of the renowned meetings and events brand Dolce Hotels and Resorts by Wyndham – today announced plans for a transformational renovation updating its 296 guest rooms, event spaces and dining outlets with modern design inspired by the hotel’s celebrated Jersey Shore history.
The renovation comes on the heels of new ownership for the hotel, which was sold in August 2018 to Dr. Kiran Patel, Florida philanthropist and Wyndham partner on landmark hotels including the striking Wyndham Grand Clearwater Beach in Florida and prominent Dolce Cheyenne Mountain Resort in Colorado.
The $17 million renovation will include updates to all 296 guestrooms and suites; refreshed meeting spaces, lobby and public areas; renovations to the outdoor pool; and new dining options including a new original restaurant concept within the hotel’s famed Oval Room. To sustain the massive renovation, guest rooms and meeting spaces will be closed to visitors for the winter months, reopening starting in March 2019. The hotel’s golf course remains open.
“Seaview is a beloved icon of the Jersey Shore community with a rich local history shared by many guests who have spent generations vacationing here – and even team members who spend their entire careers, some of them across several generations of families, working with us at the resort,” said General Manager Bob Nelson. “This transformation is the dawn of a new era for Seaview and will provide our guests a modern east coast destination resort and, true to the Dolce brand, a harbor for inspired meetings and events – all while still embracing the past that shaped our celebrated story.”
Founded in 1914, the historic Seaview Hotel has hosted famed names such as Presidents Warren G. Harding and Dwight D. Eisenhower, The Rolling Stones, Bob Dylan and Grace Kelly – who in 1946, celebrated her sweet 16 party in the resort’s legendary Oval Room. This history inspires the hotel’s redesign, which includes a hint of art deco nostalgia – a playful nod to Atlantic City’s heyday – paired with cool, coastal blues and modern, comfortable furnishings.
The coastal motif carries into the hotel’s 27,000 sq. ft. of event space, which caters to a variety of social events with customizable menus and packages for weddings with both indoor and outdoor ceremony venues, bar and bat mitzvahs, family reunions and fundraisers.
As part of the Dolce brand, Seaview will also offer state-of-the-art meeting facilities across 21 meeting rooms designed specifically to stimulate productivity and creative thinking. The hotel offers Dolce’s signature Nourishment Hubs, rethinking the cliché afternoon coffee break with fresh, energizing refreshments throughout the day as well as its “Thoughtful Foods for Thoughtful Minds” program offering menus with wholesome ingredients and convenient, flexible options.
Meeting planners at Seaview, a Dolce Hotel, benefit from Wyndham’s go meet, a formal rewards program catering to both professional and casual meeting/event planners. Planners who are members of the Wyndham Rewards loyalty program can earn one point for every dollar spent on qualifying revenue, regardless of billing method, with no minimum spend requirement and no maximum point limit. On average, meeting planners earn 45,000 points per meeting—enough for three free nights at any of Wyndham’s hotels around the world.
Mere minutes from the excitement of Atlantic City yet quietly tucked away on 670 scenic acres along Reed’s Bay, Seaview, a Dolce Hotel, offers 296 well-appointed guest rooms and 27,000 square feet of meeting space in a pristine, retreat-like setting for both business and leisure travelers. And, with 36 holes of golf, indoor and outdoor pools, tennis courts, and a world-class spa, guests will discover inspiration beyond the boardroom. Convenient to the casinos and entertainment of Atlantic City while being only 45 minutes from Philadelphia, historic charm abounds at Seaview across a century of history and tradition merged with contemporary conveniences.
Inspirational environments foster big ideas. That’s the philosophy behind Dolce Hotels and Resorts® by Wyndham. A curated collection of unique destinations, Dolce redefines modern meetings using creative spaces, state-of-the-art technology, nourishing food and beverage programs and inspired activities. From Napa Valley to the French countryside of Chantilly, Dolce’s breathtaking locations provide the backdrop to incredible travel experiences, whether in a meeting or relaxing at its award-winning golf courses, rejuvenating spas and nearby world-famous wineries. Follow @dolcehotels on Facebook, Instagram and Twitter.
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., 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.
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.
