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.
Launches search for cultural brand ambassador with a $15,000 prize
PARSIPPANY, N.J. (October 1, 2024) – Imagine wandering through the markets of Türkiye, soaking in the serene landscapes of California and exploring the vibrant streets of Panama. Now, imagine experiencing all these destinations on a single, unforgettable, global journey, snapping incredible photos along the way. One lucky adventurer will do just that as the Ramada by Wyndham Chief Eats Officer (“CEO”), embarking on a worldwide adventure. The cherry on top? Get paid $15,000 while doing it.
Spanning 75 countries, Ramada—one of the world’s most recognized hotel brands— is homebase for travelers looking for unforgettable bucket-list experiences, whether they’re just around the corner or oceans away. The brand’s second official “CEO” will set off on a global journey lasting up to three weeks, exploring the most delicious local cuisines and experiences. The content they capture will be showcased on the brand’s website and social media channels and shared with a worldwide audience. In return, the “CEO Comp Package” includes a $10,000 travel stipend to cover airfare and travel expenses, $5,000 cash, paid accommodations for up to 21 nights, upgrade to Wyndham’s exclusive Diamond rewards status and a once-in-a-lifetime experience.
“Every stay at Ramada allows guests to truly experience the essence of each destination. As our CEO travels to some of the world’s most remarkable cities, they’ll immerse themselves in the local culture, engage with the community and share their journey with travel enthusiasts across the globe. That’s the Ramada mission—transforming every trip into an unforgettable experience.”
– Stephanie Kendrick, brand leader, Ramada by Wyndham
A World of Opportunity The CEO responsibilities include visiting up to seven countries during a three-week trip, allowing them to truly Sample the World® along the way and sharing their adventures with a global audience. The itinerary will span multiple continents, offering the opportunity to explore international destinations while enjoying the familiar warmth and hospitality of Ramada hotels at each stop. Itinerary will be arranged by the Ramada team in coordination with the selected CEO. Potential stops include:
How to Apply To apply, candidates can post a public video on TikTok explaining why they are the ideal candidate for the job, tagging @RamadabyWyndham, using the hashtag #RamadaCEO, and following @RamadabyWyndham on TikTok. The applicant’s TikTok account must be publicly viewable for the duration of the contest. Alternatively, applicants can email their video submission to [email protected].
All submissions must be between one and three minutes in length and should include the applicant’s country of residence. If applying via email, be sure to provide the handles for your active and public personal social media accounts. All entries must be submitted and received by 11:59 p.m. ET on October 22, 2024.
Additional Qualifications Include:
Applicants must be a legal resident of the 50 United States or Canada (excluding Quebec).
Availability to travel for up to three weeks between April 1, 2025, and June 30, 2025.
Active and proficient on various social media platforms (TikTok and Instagram preferred).
At least 21 years old with a valid passport through December 2025.
Self-confessed travel lover and foodie.
Comfortable working remotely and on deadline.
If you’re ready to take on the role of Chief Eats Officer, we want to hear from you. Ramada by Wyndham will select the winning CEO on or around the week of November 14, 2024. No purchase is necessary to enter. For more details, including official rules, visit www.ramada.com/ceo.
About Ramada by Wyndham With more than 920 hotels globally, travelers are bound to find Ramada by Wyndham, one of the world’s most recognized hotel brands, wherever their travels take them. Guests choose Ramada not only so they can Sample the World® but for the brand’s passionate team members and full-service hospitality as well as functional meeting space, comfortable guest rooms, free Wi-Fi, and casual dining options. Visitwww.ramada.com for more information. Like us on Facebook and follow us on Instagram.
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®, 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 www.wyndhamhotels.com.
Wyndham Rewards® members unlock access to coveted tickets including rivalry games
PARSIPPANY, N.J. (September 25, 2024) – Tailgates, historic rivalries and fourth-down nailbiters while rooting for your favorite teams—football season is officially in full swing in Happy Valley. This year Wyndham Rewards—the most generous hotel rewards program spanning more than 60,000 hotels, vacation club resorts and vacation rentals globally—is adding the title Proud Hotel Rewards Partner of Penn State Athletics through a multi-year sponsorship with Penn State Sports Enterprises, an entity of Playfly Sports.
Today, Penn State boasts 31 athletics programs and an alumni association of 775,000—one of the largest in the U.S. Through the partnership, Wyndham Rewards members unlock exclusive access to special ticket packages for football and men’s basketball, redeemable with Wyndham Rewards points starting as low as 35,000 points. Plus, there will be additional opportunities to redeem points for special VIP experiences.
“Penn State’s school spirit matches the enthusiasm and loyalty of our 110 million enrolled Wyndham Rewards members. By joining forces, we’re tapping into one of the most engaged fanbases in sports and adding more enriching experiences for our beloved guests.”
“Blazing stadium lights and roaring fan cheers—there’s something truly special about the Nittany Lions Athletics family. By welcoming Wyndham into our iconic arenas and stadiums, we’re delivering incredible memories for fans and members alike, on and off the field.”
– Daniel Solomon, VP, Corporate Partnerships, Penn State Athletics
A Slam Dunk For Fans All Year Long The new partnership features exclusive access to tickets for football and men’s basketball, available only for Wyndham Rewards members to redeem using points throughout the year. The partnership also includes Wyndham signage through in-venue digital advertising throughout Penn State facilities such as Beaver Stadium, Bryce Jordan Center and Rec Hall.
Member highlights include exclusive game day packages, including suite-level tickets and pre-game experiences with complimentary food and drinks. Ticket packages start at 35,000 points and limited quantities are available. Members can also redeem points to add on various VIP experiences throughout the football season at select games. Experiences include sideline passes for pre-game photo ops for fans on the field and exclusive tunnel access alongside the team. Additional experiences will be made available in the coming months.
With approximately 110 million enrolled members worldwide, Wyndham Rewards is the only hotel loyalty program where members earn a guaranteed 1,000 points with every qualified stay. 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 bedroom per night, while discounted nights start at just 1,500 points per bedroom per night.
Now through Oct. 21, 2024, buy 3,000+ Wyndham Rewards points and get 25% off the purchase price to use toward Penn State football experiences, free and discounted nights and more. Fans can buy up to 100,000 points annually—that’s enough for up to 13 free nights at thousands of hotels worldwide*. For terms and conditions please visit here. To learn more about redeeming game tickets and experiences, see here.
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*More Information About Free Nights & Discounted Nights with Points + Cash: Free Nights require up to 30,000 points per bedroom, depending on property. Discounted Nights with Points + Cash require up to 6,000 points per bedroom, plus a cash payment, depending on property. Member must have enough points for all bedrooms in desired accommodation to book award nights. Per night resort fees and other advance fees may be payable, even for award nights; points can’t be used to pay them. Subject to availability; blackout dates/rates, minimum length of stay requirements & other restrictions apply. Most properties: points apply to room rate only (Free Nights: including taxes, Discounted Nights with Points + Cash: excluding taxes). See wyndhamrewards.com/terms for more information.
About Playfly Sports Playfly Sports is a sports media, marketing and technology business centered around the team, league, brand and network. Believing in ‘Fandom as a Service’ and focusing on a consultative, data-driven approach to REACH, ENGAGE, MONETIZE AND MEASURE FANDOM gives the company’s partners and brands a competitive advantage. Playfly connects more than 2,000 brand partners and over 100 sports properties and entities to approximately 85% of all U.S. sports fans. Through the proprietary platform, the business delivers scalable, data-oriented marketing, technology, and media solutions with capabilities including exclusive MMR management, sponsorship sales and activation, streaming, consulting, ticket/premium sales, all along with new revenue-driving platforms and technologies. Founded in September of 2020, Playfly Sports is now home to approximately 1,000 team members located across 43 U.S. states dedicated to maximizing the impact of highly passionate local sports fans. Follow Playfly Sports on social media @PlayflySports or visit www.playfly.com.
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 110 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.
Starting at $1,850 per key*, INNOV8TE 2.0 sets a new standard in economy room design, helping boost guest satisfaction and maximize owner savings
PARSIPPANY, N.J. (September 17, 2024) – Super 8 by Wyndham owners looking to revitalize their guestrooms can now adopt the cutting-edge INNOV8TE 2.0 design package. The next iteration of the INNOV8TE program, developed in collaboration with experienced owners and top design experts, combines sleek, stylish upgrades with increased operational efficiency. Available across the U.S. and Canada, INNOV8TE 2.0 is a cost-effective upgrade that elevates the hotel experience, starting at just $1,850 per key*.
Making its debut amid the brand’s 50th anniversary, INNOV8TE 2.0 is designed with today’s travelers in mind, featuring refreshed color schemes, sleek furniture upgrades, crisp bedding, and durable flooring options all crafted to enhance the overall guest experience. With easy maintenance and straightforward installation, INNOV8TE 2.0 is a bold step forward for hotels looking to embrace the latest trends.
“As we celebrate our 50-year milestone, one thing’s clear: Super 8 is not slowing down. Our commitment to innovation has driven us to create INNOV8TE 2.0, which is more than just an upgrade—it’s a bold leap forward. By placing our owners at the center of everything we do, we’re elevating economy with a seamless, easy-to-implement design upgrade that streamlines hotel operations and helps drive success. With INNOV8TE, we’re not just keeping pace—we’re setting the standard.”
– Mike Mueller, President, Super 8 by Wyndham
Driving Innovation with Owners in Mind With accent pieces that bring the vibrancy of Super 8 to life, combined with sleek, easy-to-clean furniture, resilient flooring, and fresh, triple-sheeted bedding, INNOV8TE 2.0 offers a stylish upgrade to hotels.
Beyond aesthetics, the package delivers practical benefits by streamlining housekeeping for more efficient maintenance, using durable, long-lasting materials to cut replacement costs, and optimizing every inch of space to enhance room functionality. These combined improvements make it a game-changer for hotel operations. Upgraded features include:
Sleek and Efficient Case Goods: New lighter-colored finishes brighten the room and are designed to maximize every inch of space. Upgrades include a combo unit that integrates the refrigerator, microwave, TV, along with new bedside tables, all with an open-front design that helps prevent guests from leaving personal items behind and minimizes cleaning time. Additionally, furniture arrives fully assembled, helping owners bypass setup hassles for a smooth installation.
Vibrant Accents: For road warriors who love Super 8’s iconic colors, new accents like red desk lamps and seating, and bold yellow accents seamlessly incorporate these hues, infusing the space with vibrant energy. A fresh addition to the INNOV8TE design, a new 3-hook wall-mounted panel replaces traditional clothes racks with a space-efficient alternative.
Modern Window Treatments: Roller shades offer an easy-to-clean, simple-to-install, and durable solution that helps enhance energy efficiency by blocking excess sunlight. For those who prefer traditional drapes, a selection of new, modern patterns is available to complement the room decor.
Stylish Flooring Options: With easy installation and excellent resistance to stains, scratches, and everyday wear, LVT flooring combines durability with a sleek, sophisticated appearance. Owners who prefer carpeting will find the new versatile gray and charcoal designs both durable and well-suited for high foot traffic.
Sleek Seating: The lounge chair, a seating staple, is compact to maximize room space while mixing in a vibrant splash of red. Featuring durable vinyl upholstery, it blends comfort with easy maintenance.
Signature Black-And-White Headboard Art: A hallmark of the Super 8 room, the iconic headboard returns with a vibrant pop of yellow. Loved by both guests and owners, it features hyper-local artwork that offers a unique sense of place at every hotel. More than just stylish, it’s durability and easy cleaning, provide lasting quality with minimal upkeep.
Saving Owners Time and Money The beauty of INNOV8TE 2.0 lies in its flexibility, with owners able to opt for either a complete guestroom upgrade or gradual improvements, so they can update rooms at their own pace or all at once. Through Wyndham’s Manufacturer Direct program, owners can independently integrate INNOV8TE 2.0 into their hotels, benefiting from cost savings and the ability to select and install elements that best suit their hotel’s needs. For those who prefer a more traditional renovation route, Wyndham offers support through its Procurement Service Providers.
INNOV8TE 2.0 was first unveiled to owners at Wyndham’s Global Conference in Anaheim, California, in September 2023 and is now available. For additional details on the latest room designs, as well as franchising opportunities with Wyndham Hotels & Resorts, visit www.wyndhamdevelopment.com.
*INNOV8TE 2.0 king room configurations start at US$1,850 per key, not including freight, tax and installation.
ENDS
About Super 8 by Wyndham For five decades, Super 8® by Wyndham—one of the world’s largest economy hotel brands with more than 2,600 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 redesigned rooms, fast, free Wi-Fi and a complimentary light breakfast. Learn more www.super8.com. Like us on Facebook and follow us on Instagram. For development opportunities, visit www.wyndhamdevelopment.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 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.
Book today and earn double Wyndham Rewards points plus a $25 nightly in-stay credit
PARSIPPANY, N.J. (Sept. 5, 2024) – Guests looking to escape the hustle of everyday life and recharge amidst the shadows of Pikes Peak can now indulge in the charm of The Mining Exchange, a Registry Collection Hotel. The newly renovated, 128-room hotel, nestled in the heart of downtown Colorado Springs, marks the first for Registry Collection Hotels in the United States.
Once home to the bustling stock exchange for gold and silver sourced from the Rockies, guests can now take in the hotel’s rich history while enjoying modern luxuries including multiple onsite culinary outlets, a full-service spa and on-site art gallery, The Vault. Guests can also visit nearby attractions like the U.S. Olympic & Paralympic Museum, just a short distance away.
First introduced in 2021, Registry Collection Hotels are hand-picked to offer elevated guest experiences and inspire the wanderlust of today’s travelers. Just three years later, the rapidly-growing portfolio now includes more than 20 world-class hotels around the globe spanning the stunning coast of Chalikidi in Greece to the bustling city center of Panama City, with nearly 10 more hotels in its pipeline.
“Today’s affluent travelers increasingly crave the bespoke and immersive experiences that boutique, independently minded operators can offer. Through Registry Collection Hotels, we’re committed to curating these one-of-a-kind experiences for guests—all while helping owners tap into the unparalleled scale and resources of the world’s largest hotel franchisor.”
– Geoff Ballotti, President and CEO, Wyndham Hotels & Resorts
“The Mining Exchange has been a Colorado icon since 1902. Now, some 120 years on, we are honoring that heritage by creating a hotel imbued with local touches and human connection that has earned the distinction of being the first Registry Collection hotel in the U.S. We’re proud to be joining a world-class portfolio of international hotels and adding Colorado Springs to the global roster of Registry Collection destinations.”
-Bashar Wali, Founder & CEO, Practice Hospitality
A Serene Escape Amidst the Mountains Start your day caffeinating at BLK MGK, the hotel’s high craft, full-service coffee bar, enjoying locally-sourced beans from Hold Fast Coffee Co. while noshing on pastries, re-charging with signature wellness potions, and later, returning for local brews and small bites. Enjoy the beauty of Colorado as the sun sets over the mountains at the hotel’s plush indoor-outdoor bar and courtyard, Golden Hour, while having sips al fresco or enjoying artisanal bites with live jazz on select evenings.
The hotel’s extensive revitalization enhances all aspects of the property, anchored by guest rooms that are modern with sleek finishes featuring exposed brick, vaulted ceilings and vintage-style windows. Guests can enjoy high-quality amenities in their own ensuite bathrooms with beautiful marble finishes and stunning gem tones. For those looking for a full experience, aromatherapy, massage services and more can be booked at the hotel’s full-service spa. The Mining Exchange also houses expansive functional space with 15,000 square feet of conference, event and wedding space inclusive of a ballroom, two meeting rooms, an outdoor terrace and a boardroom.
“Registry Collection Hotels provide guests with an oasis from daily life while exploring some of the most stunning destinations in the world. In the case of The Mining Exchange, the hotel seamlessly blends the rich history of its surroundings with unmatched service and elevated décor. It’s an ideal example of the rich, rewarding and memorable visits for which the brand stands for.”
Earn Double Points + a $25 Nightly In-Stay Credit Like all Registry Collection Hotels, The Mining Exchange participates in Wyndham Rewards®, Wyndham’s award-winning rewards program with over 60,000 hotels, vacation club resorts and vacation rentals worldwide. For a limited time, members can earn double points on their next stay at The Mining Exchange, along with a $25 nightly in-stay credit, when they book by December 31, 2024. Stays must be completed by May 31, 2025. Terms and conditions for the double points offer can be found here. Terms and conditions for the nightly in-stay credit can be found here.
Images associated with the above release are available here.
ENDS
About The Mining Exchange Nestled in the heart of downtown Colorado Springs, The Mining Exchange is a haven for modern travelers with a nod to Colorado’s gilded past. The reimagined property is managed by Practice Hospitality. Housed in a beautifully restored 1902 building, this lifestyle hotel once served as the bustling stock exchange for precious gold and silver. Today, guests can stay in one of 128 redesigned rooms that draw inspiration from the destination, embrace connection in the hotel’s living room inspired lobby, and indulge in various food and beverage concepts including BLK MGK, the hotel’s high craft, full-service coffee shop and Golden Hour, the decadent lobby bar. Inspiring meeting and event spaces and a full-service spa and salon round out the experience. Find more details via www.miningexchangehotel.com and stay updated on events and other happenings by following @miningexchange, @blkmgkcoffee, @goldenhourcos Instagram and @TheMiningExchange on Facebook.
About Registry Collection Hotels Get lost in your travels and let Registry Collection Hotels meet you there. With thoughtful design, brilliant service and unsurpassed attention to detail, our handpicked hotels and resorts deliver incredible experiences in spectacular destinations around the world. Book your next stay at www.registrycollectionhotels.com or visit www.development.wyndhamhotels.com to learn more about how we’re elevating individuality for independent-minded luxury hotel owners and developers around the world. Registry Collection Hotels are affiliated with but separate from The Registry Collection, the world’s largest luxury exchange program.
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.
Wyndham Rewards Earner® Card once again named best hotel credit card
PARSIPPANY, N.J. (August 20, 2024) – Wyndham Rewards®, the world’s most generous rewards program spanning more than 60,000 hotels, vacation club resorts and vacation rentals globally has once again been ranked the top hotel rewards program by readers of USA Today while the Wyndham Rewards Earner® Card has been ranked the top hotel credit card.
This marks the seventh consecutive year Wyndham Rewards has taken the top spot in program rankings from USA Today and the sixth consecutive year its credit card has taken the top spot. Nominees for the awards are compiled by a panel of industry experts, and winners are chosen based on daily voting from USA Today readers.
“Simple and generous—that’s what Wyndham Rewards is all about. Day-in, and day-out, no other hotel rewards program gives their members more for their money or offers more places to redeem. From seaside escapes to buzzing urban cities, wherever you want to go, whatever you want to do, Wyndham is there to welcome you. Congratulations to our team members, to our franchisees and to our partners—without your hard work and continued dedication, these accolades simply wouldn’t be possible.”
– Scott Strickland, Chief Commercial Officer, Wyndham Hotels & Resorts
The Most Generous Hotel Rewards Program
With approximately 110 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.
Complementing the program’s base benefits is its suite of credit cards, which include the Wyndham Rewards Earner Card, Wyndham Rewards Earner Plus Card and the Wyndham Rewards Earner Business Card, the first Wyndham credit card created specifically for small businesses. All three amplify rewards earned on the road, as well as everyday purchases, with 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.
Learn more about Wyndham Rewards, including how to join for free, at WyndhamRewards.com. For more information on credit card offerings, visit WyndhamRewardsCreditCard.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 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.
This year, “the finale is just the beginning” as fans on-site and at home have the chance to win one million Wyndham Rewards points daily or one of hundreds of other prizes
GREENSBORO, N.C. (Aug. 8, 2024) – Wyndham Rewards®, the world’s most generous hotel rewards program spanning more than 60,000 hotels, vacation club resorts and vacation rentals, returns to Sedgefield Country Club this week as proud title sponsor of the 85th annual Wyndham Championship—where “the finale is just the beginning.”
Known for being one of the most fan-friendly stops on the PGA TOUR, this year’s tournament sees Sedgefield turn into a tropical oasis while giving fans the chance to win one of hundreds of incredible prizes including gift cards, hotel nights, Club Wyndham Getaways and more. Plus, every day of official tournament play, two lucky fans—one on-site and one at home—will win one million Wyndham Rewards points.
“For nearly two-decades, the Wyndham Championship has been celebrated for being one of the most fan-friendly stops on the TOUR. This year—we’re upping the ante with more prizes, more activities, and more fun. Whether you’re a golf fanatic or just looking to get out and have fun with family and friends, the Wyndham Championship is the place to be.”
– Leah Girma, Vice President, Wyndham Rewards
Vacation Vibes
Broadcasting on CBS, GOLF Channel, Paramount+ and PGA TOUR LIVE on ESPN+, this year’s tournament transports fans to a tropical, vacation-themed oasis. Signature course elements like Club Wyndham Beach are back and joined by fan favorite spots like Margaritaville at the Wyndham, the Wyndham Rewards Earner® Card Lounge and the USO Patriots Outpost presented by Truist and Heroes Vacation Club.
New at the tournament this year is Wyndham Rewards Putter’s Paradise. Show off your putting prowess as you wind your way through five challenging holes themed after your favorite vacation destinations. While there, register to win one of over a hundred daily prizes, including one million Wyndham Rewards points or score an instant-win prize like a Club Wyndham beach pass. Fans at the tournament can register to win directly at Putter’s Paradise1 while fans at home can enter for their chance to win by visiting WyndhamRewards.com/Championship.2
Wyndham Championship Fore! Good
Creating positive impact in the community is a hallmark of the Wyndham Championship and Wyndham Championship Fore! Good, the tournament’s signature philanthropic platform. Focused on youth, education and inclusivity, the platform helps give back to worthy causes in central North Carolina and beyond.
Once again this year, Wyndham Rewards will donate $25,000 to each of the Championship’s signature backpack charities. In addition, Thursday through Sunday, should a PGA TOUR player make a hole-in-one on the par-3 16th hole, Wyndham Rewards will award one million points to the player and donate an additional one million points to the backpack charities.
Through the tournament’s backpack program, Wyndham Rewards works with local organizations—Backpack Beginnings, Forsyth Backpacks, Out of the Garden Project and United Way of Greater High Point—to help feed children from low-income families around central North Carolina. Backpacks are packed with nutritionally-sound meals, which families take home every weekend. Just $5 can feed one child for a weekend while $150 can feed a child for a school year. Fans can join Wyndham in supporting these charities by donating at tournament merchandise and concession stands.
Celebrating First Tee – Central Carolina and the Greensboro Six Earlier this week, Wyndham executives joined community leaders and members of First Tee – Central Carolina to unveil a new outdoor mural at Gillespie Golf Course honoring civil rights pioneers, The Greensboro Six.
Created by Brooklyn-based artist Vincent Ballentine, the mural elevates the story of The Greensboro Six—key players in the civil rights movement whose purposeful actions ultimately helped desegregate professional golf—while celebrating the positive impact that Gillespie, through First Tee, continues to have on the Greensboro community today.
In addition to unveiling the mural, Wyndham joined with the Tournament in making a supplemental donation of $200,000 in support of First Tee-Central Carolina, helping further the organization’s mission of aiding children of all backgrounds build life skills through the game of golf. Since 2007, the collective efforts of Wyndham and the Tournament have helped to raise and donate millions to the organization.
Endless Travel Options, One Award-Winning Rewards Program
Proud title sponsor of the Wyndham Championship, Wyndham Rewards is the blue thread tying together some of the world’s largest and most well-known travel companies and brands: Wyndham Hotels & Resorts, the world’s largest hotel franchising company and Club Wyndham, the flagship vacation ownership brand of Travel + Leisure Co.
Consistently recognized as the #1 hotel rewards program by both USA TODAY and US News & World Report, no matter where or how you travel, Wyndham Rewards EveryoneSM. Members earn a guaranteed 1,000 points with every qualified stay and can 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.
The Wyndham Championship runs through Sunday, Aug. 11. Teachers, first responders and members of the military are invited to attend for free along with a guest after submitting proper registration. To learn more, purchase tickets or register for free tickets, please visit www.wyndhamchampionship.com.
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1ON-SITE: NO PURCHASE NECESSARY TO PLAY OR WIN. Void where prohibited. The Wyndham Rewards® Championship On-Site Sweepstakes is open to legal residents of the fifty (50) United States and the District of Columbia who are at least 18 years of age and age of majority (19 in Alabama and Nebraska, 21 in Mississippi) at time of entry & are in attendance at the Wyndham Championship in Greensboro, NC. Sweepstakes begins August 8, 2024 at 12:00 a.m. ET and ends August 11 at 11:59 p.m. ET. Entrants into this Sweepstakes are not eligible to enter, or win a prize in connection with, the 2024 WYNDHAM REWARDS® CHAMPIONSHIP AT HOME SWEEPSTAKES, or vice versa. Official rules are available here. Sponsor: Wyndham Hotel Group, LLC.
2AT HOME: NO PURCHASE NECESSARY TO PLAY OR WIN. Void where prohibited. The Wyndham Rewards® Championship At Home Sweepstakes is open to legal residents of the fifty (50) United States and the District of Columbia who are at least 18 years of age and age of majority (19 in Alabama and Nebraska, 21 in Mississippi) at time of entry & are not in attendance at the Wyndham Championship in Greensboro, NC. Sweepstakes begins August 8, 2024 at 12:00 a.m. ET and ends August 11 at 11:59 p.m. ET. Entrants into this Sweepstakes are not eligible to enter, or win a prize in connection with, the 2024 WYNDHAM REWARDS® CHAMPIONSHIP ON-SITE SWEEPSTAKES, or vice versa. Official rules are available here. Sponsor: Wyndham Hotel Group, LLC.
About Wyndham Rewards Proud title sponsor of the Wyndham Championship, Wyndham Rewards® is the blue thread tying together some of the world’s largest and most well-known travel companies and brands: Wyndham Hotels & Resorts, the world’s largest hotel franchising company and Club Wyndham®, the flagship vacation ownership brand of Travel + Leisure Co. Recognized as the #1 hotel rewards program by both U.S. News and World Report and USA Today, members—approximately 110 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 more places to stay. Join for free at WyndhamRewards.com.
About the Wyndham Championship
Contested annually on the Donald Ross-designed course at Sedgefield Country Club in Greensboro, N.C., the Wyndham Championship was founded in 1938 and is the seventh-oldest event on the PGA TOUR excluding the Majors. The tournament thanks title sponsor Wyndham Rewards and presenting sponsor Truist for their continued support. Additional tournament information is available at www.wyndhamchampionship.com and the tournament’s social media channels, including the Wyndham Championship Facebook page, Twitter and Instagram.
Unveiled during annual First Tee – Central Carolina youth clinic, event kicks off a week of activities supporting the PGA TOUR’s 85th annual Wyndham Championship
GREENSBORO, N.C. (Aug. 6, 2024) – Civil rights pioneers, The Greensboro Six, are being celebrated today with the unveiling of a mural at historic Gillespie Golf Course in Greensboro, N.C. The culmination of a year-long journey first announced during last year’s 84th annual Wyndham Championship, the outdoor mural, created by Brooklyn-based artist Vincent Ballentine, highlights the six men’s role in helping desegregate the game of golf while celebrating First Tee – Central Carolina, which today calls Gillespie home.
“Just over a year ago, we stood in this exact spot and shared the story of The Greensboro Six, six civil rights pioneers who not only made history here at Gillespie but in turn, helped change the game of professional golf. This mural is our way of memorializing these heroes and sharing their story with a new generation of golfers—all of whom walk in their footsteps.”
– Ryan Wilson, CEO, First Tee – Central Carolina
“Gillespie is a special place—one that has transformed over the decades to play a special role in this community. Now, as future generations of golfers come here and learn the game, it’s my hope that this piece can serve as a reminder, sparking meaningful conversation about The Greensboro Six and how their courageous story ultimately helped to uplift this community and empower others across these great 50 states.”
– Vincent Ballentine, Artist
Sharing the Story Following today’s mural unveiling, Wyndham Rewards, in collaboration with First Tee – Central Carolina, announced plans for a short-form documentary detailing the story of The Greensboro Six and the creation of the mural. Under direction from two-time Emmy nominated director and writer, Eternal Polk—best known for his award-winning film, Gaining Ground: The Fight for Black Land—the film takes viewers behind-the-scenes with never-before-shared insights and interviews with surviving family members, local leaders and key community figures, among others. Slated to debut at a later date, a trailer for the film is now available at FirstTeeCentralCarolina.org/Mural-Project.
“It is an honor to help bring to life the story of The Greensboro Six and their triumph over racism and discrimination. They are an example of the power of doing good and it’s my hope their story inspires others to continue the fight for equality.”
– Eternal Polk, Director
The Legacy of The Greensboro Six
In 1955, less than one week after Rosa Parks was arrested for refusing to give up her seat on a Montgomery bus, six Black men led by Dr. George Simkins started a local movement of their own by defiantly playing a round at the whites-only Gillespie Golf Course. They were later arrested, convicted of trespassing and spent 15 days in jail. Seven years and numerous court cases later, their actions along with others led to Gillespie desegregating and later, seeing The Greater Greensboro Open (now the Wyndham Championship) become the first PGA TOUR event in the South to welcome a Black player (Charlie Sifford).
Today, Gillespie is home to First Tee – Central Carolina, a national youth development program using the game of golf to create life-changing opportunities for local youth on and off the course. It also has the distinction of being the first course in North Carolina to offer PGA HOPE (Helping Our Patriots Everywhere), a national program leveraging golf to enhance the wellbeing of active-duty military and veterans and is one of the only courses in the Triad catering to players with spinal injuries and disabilities through adaptive equipment and free programs.
Images associated with the above release can be downloaded here.
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About The City of Greensboro
Built around the core values of respect, inclusiveness, safety, innovation and sustainability, the mission of the City of Greensboro is to shape an inclusive future for equitable economic opportunity and sustainable, safe neighborhoods through resident focused services and programs. The Greensboro Parks and Recreation Department exists to provide professional and diverse leisure opportunities through inclusive programs, facilities, parks, and open space, ensuring that Greensboro is a desirable place to work, live, and play. Learn more at Greensboro-NC.gov.
About First Tee – Central Carolina First Tee – Central Carolina is a youth development organization that enables kids to build the strength of character that empowers them through a lifetime of new challenges. Using golf and life skills as our tools, we provide kids opportunities on and off the course they may never have otherwise. We are active throughout the Triad region, and specifically focused on serving the East Greensboro and East Winston-Salem communities. Learn more at FirstTeeCentralCarolina.org.
About The Wyndham Championship
Contested annually on the Donald Ross-designed course at Sedgefield Country Club in Greensboro, N.C., the Wyndham Championship was founded in 1938 and is the seventh-oldest event on the PGA TOUR, excluding the Majors. The tournament thanks title sponsor Wyndham Rewards and presenting sponsor Truist for their continued support. Additional tournament information is available at WyndhamChampionship.com and the tournament’s social media channels (@WyndhamChamp) on Facebook, X, Instagram and LinkedIn pages.
About Wyndham Rewards
Proud title sponsor of the Wyndham Championship, Wyndham Rewards® is the blue thread tying together some of the world’s largest and most well-known travel companies and brands: Wyndham Hotels & Resorts, the world’s largest hotel franchising company and Club Wyndham®, the flagship vacation ownership brand of Travel + Leisure Co. Recognized as the #1 hotel rewards program by both U.S. News and World Report and USA Today, members—approximately 110 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 more places to stay. Join for free at WyndhamRewards.com.
Looking fresh: America’s trusted roadside brand celebrates 50 years and a modern makeover with historically low room rates—available at hundreds of hotels for a limited time
PARSIPPANY, N.J. (July 29, 2024) – Dial-up internet, landlines, and VHS tapes—some things are best left in the past. But with age, some things only get better. At 50 years young, Super 8—America’s trusted roadside hotel brand—has never looked or felt better and to celebrate, the brand is giving guests a chance to book a room this summer at the same rate it charged in 1974: $8.88 a night plus tax. Act fast though – only 888 nights are available at the reduced rate.
“Remember when eight bucks could get you something special? Super 8 sure does! This milestone isn’t about looking back but celebrating how far we’ve come: from a single hotel in Aberdeen, South Dakota to one of the world’s largest hotel brands with over 2,600 locations worldwide. And while our yearly odometer may read 50—continued investment by our franchisees means our hotels don’t look or feel it.”
– Mike Mueller, President, Super 8 by Wyndham
Turning Back the Clock Back in 1974, a gallon of gas cost just fifty-three cents, a bag of beef jerky was a buck, and a night at the original Super 8 in Aberdeen, South Dakota a cool $8.88. The inaugural room rate – a nod to the number eight in its name – symbolized the start of the brand’s groundbreaking mission to make comfortable, budget-friendly accommodations accessible to all.
Say goodbye to grandpa’s boxy dresser and grandma’s floral bedspreads because, at 50 years young, Super 8 is more vibrant than ever. Following a massive, $140+ million brand overhaul by franchisees just a few years ago, rooms today feature sleek furniture, stylish bedding and a host of modern amenities, all built around the brand’s signature offering—one-of-a-kind headboards featuring larger-than-life, bed-to-ceiling, hyper-local black and white art reflective of each hotel and its unique destination.
$8.88? That’s Super! While costs have changed since the 70s, a great stay is forever timeless, especially at Super 8. For a limited time, the brand will bring back its historic $8.88 room rate. Here’s how to get yours:
Starting August 8, 2024, at 8:00 AM ET, 888 room nights will be available for sale at a rate of $8.88 each, plus tax, exclusively at super8.com/throwback.
Sales will be fulfilled in the form of 15,000 Wyndham Rewards points – good for at least one free night at hundreds of Super 8 hotels and points are redeemable for a minimum of 18 months after purchase. Limit of one purchase of 15,000 points per person and available on a first-come, first-served basis while supplies last.
You must be a Wyndham Rewards member and provide your membership number at the time of purchase. Travelers are strongly encouraged to join prior to attempting to purchase so they can have their member number on hand. Join for free at wyndhamrewards.com/join.
Upon successfully purchasing, points will be credited to your Wyndham Rewards account within three business days.
To score a Super 8 throwback rate, travelers must be 18 years of age and a resident of the U.S. and Canada. For more information, including official rules as well as full terms and conditions, visit www.super8.com/throwback.
About Super 8 by Wyndham For five decades, Super 8® by Wyndham—one of the world’s largest economy hotel brands with more than 2,600 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 redesigned rooms, fast, free Wi-Fi and a complimentary light breakfast. Learn more www.super8.com. Like us on Facebook and follow us on Instagram. For development opportunities, visit www.wyndhamdevelopment.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 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.
Company Grows Development Pipeline by 7% and System Size by 4%
PARSIPPANY, N.J (July 24, 2024) – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended June 30, 2024. Highlights include:
Global RevPAR grew 2% in constant currency.
System-wide rooms grew 4% year-over-year.
Opened over 18,000 rooms globally, including over 7,000 in the S., which represented a year- over-year increase of 16%, and the first ECHO Suites Extended Stay by Wyndham.
Awarded 180 development contracts globally, including 96 contracts in the S., which represented an increase of 33% year-over-year.
Development pipeline grew 1% sequentially and 7% year-over-year to a record 245,000 rooms.
Ancillary revenues increased 6% compared to second quarter 2023.
Diluted earnings per share increased 30%, to $1.07, and adjusted diluted EPS grew 22%, to $1.13, or 12% on a comparable basis.
Net income was $86 million for the second quarter, a 23% increase over the prior-year quarter; adjusted net income was $91 million, a 14% increase over the prior-year quarter.
Adjusted EBITDA increased 13% compared with the prior-year quarter, to $178 million, or 6% on a comparable basis.
Returned $162 million to shareholders through $131 million of share repurchases and quarterly cash dividends of $0.38 per share.
Successfully completed the repricing of its Term Loan B Facility, reducing its interest rate by 60 basis points to SOFR plus 1.75%, and upsizing the facility by $400 million.
“The resilience and highly cash generative nature of our business model was once again on full display this quarter,” said Geoff Ballotti, president and chief executive officer. “Amid a normalizing domestic RevPAR environment, we delivered strong adjusted EBITDA driven by net room and ancillary fee growth. We awarded 33% more hotel contracts domestically which grew our development pipeline to a record 245,000 rooms, and drove significant increases in our U.S, international and global royalty rates. Year-to-date, we’ve returned over $250 million to shareholders, representing 4% of our beginning market capitalization this year.”
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 two highest international RevPAR regions, EMEA and Latin America, which grew 12% and 11%, respectively. 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 June 30, 2024, the Company’s global development pipeline consisted of approximately 2,000 hotels and 245,000 rooms, representing another record-high level and a 7% year-over-year increase. Key highlights include:
5% growth in the S. and 9% internationally
16th consecutive quarter of sequential pipeline growth
Approximately 70% of the pipeline is in the midscale and above segments, which grew 4% year-over- year
Approximately 14% of the pipeline represents ECHO Suites Extended Stay by
Approximately 58% of the pipeline is international
Approximately 79% of the pipeline is new construction, of which approximately 35% has broken ground
During the second quarter of 2024, the Company awarded 180 new contracts, including 96 contracts in the U.S., which represented an increase of 33% year-over-year.
RevPAR
Second quarter global RevPAR increased 2% in constant currency compared to 2023, reflecting flat growth in the U.S. and 7% growth internationally.
In the U.S., the Company’s midscale and above segments grew RevPAR 2% year-over-year while RevPAR for its economy segment declined 2%. Overall, U.S. RevPAR results were driven by growth of 90 basis points in occupancy, partially offset by a decline of 50 basis points in ADR. Importantly, RevPAR growth in the U.S. accelerated during the second quarter, improving 520 basis points sequentially, including an improvement of 560 basis points for its U.S. economy brands.
Compared to 2019, which neutralizes the impact of COVID recovery timing, the Company grew RevPAR for its economy and midscale brands by 9% and 8%, respectively, while RevPAR for its upscale and above brands continued to lag 2019 by 2%.
Internationally, RevPAR for the Company’s Latin America, EMEA and Canada regions collectively increased 15% due to both continued pricing power, with ADR up 13%, and occupancy growth of 2%. RevPAR for the Company’s APAC region declined 12% primarily due to a difficult year-over-year comparison resulting from that region’s COVID recovery timing in second quarter 2023. APAC occupancy declined 7% and ADR declined 5%.
Compared to 2019, which neutralizes the impact of COVID recovery timing, the Company more than doubled the RevPAR for its Latin America, EMEA and Canada regions, while RevPAR for its APAC region continued to lag 2019 by 11%.
Second Quarter Operating Results
Fee-related and other revenues were $366 million compared to $358 million in second quarter 2023, reflecting global net room growth of 4% and a 6% increase in ancillary revenue streams, partially offset by a $3 million decline in management fees, in part due to the exit of the Company’s S. management business.
The Company generated net income of $86 million compared to $70 million in second quarter The increase was primarily reflective of higher adjusted EBITDA, a benefit in connection with the reversal of a spin-off related matter and a lower effective tax rate, partially offset by higher interest expense and restructuring costs.
Adjusted EBITDA grew 13% to $178 million compared to $158 million in second quarter 2023. This increase included a $10 million favorable impact from marketing fund variability, excluding which adjusted EBITDA grew 6% primarily reflecting higher fee-related and other revenues, disciplined cost management given the recent RevPAR environment as well as a benefit from insurance recoveries.
Diluted earnings per share was $1.07 compared to $0.82 in second quarter 2023. This increase reflects higher net income and the benefit of a lower share count due to share repurchase activity.
Adjusted diluted EPS grew 22% to $1.13 compared to $0.93 in second quarter 2023. This increase included $0.09 per share related to expected marketing fund variability (after estimated taxes). On a comparable basis, adjusted diluted EPS increased 12% year-over-year reflecting comparable adjusted EBITDA growth and the benefit of share repurchase activity partially offset by higher interest expense.
During second quarter 2024, the Company’s marketing fund expenses exceeded revenues by $5 million, in line with expectations; while in second quarter 2023, the Company’s marketing fund expenses exceeded revenues by $15 million, resulting in $10 million of marketing fund The Company continues to expect marketing fund revenues to 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 $1 million of net cash provided by operating activities (inclusive of $42 million of payments related to the Company’s successful defense of a hostile takeover attempt) and generated adjusted free cash flow of $69 million in second quarter 2024. The Company ended the quarter with a cash balance of
$70 million and approximately $820 million in total liquidity.
The Company’s net debt leverage ratio was 3.5 times at June 30, 2024, the midpoint of the Company’s 3 to 4 times stated target range.
In May 2024, the Company successfully repriced and upsized its outstanding Senior Secured Term Loan B Facility (“Prior Term Loan B”). The new Senior Secured Term Loan B Facility (“New Term Loan B”) has an outstanding principal balance of $1.5 billion, which includes an upsize of $400 million. The facility has an interest rate of SOFR plus 1.75%, representing a 60 basis point reduction to the Prior Term Loan B.
Share Repurchases and Dividends During the second quarter, the Company repurchased approximately 1.8 million shares of its common stock for $131 million. Year-to-date through June 30, the Company repurchased approximately 2.6 million shares of its common stock for $188 million.
The Company paid common stock dividends of $31 million, or $0.38 per share, during the second quarter 2024 and $63 million, or $0.76 per share, year-to-date.
The reduction in RevPAR and fee-related and other revenues reflects a more moderated RevPAR acceleration than previously anticipated. The reduction in adjusted net income represents an increase in interest expense due to the upsizing of the Company’s term loan B. This impact was more than offset in adjusted diluted EPS by second quarter share repurchase activity.
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, July 25, 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 800 245-3047 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 July 25, 2024. A telephone replay will be available for approximately ten days beginning at noon ET on July 25, 2024 at 800 757-4764.
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 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 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 (such as the COVID-19 pandemic) 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 between Israel and Hamas, 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.
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