World’s sunniest hotel brand offers two Solar Sun-terns a shared $10,000 payday

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PARSIPPANY, N.J. (February 21, 2024) – The stars have aligned for thrill-seekers and solar eclipse enthusiasts. Days Inn® by Wyndham, the iconic economy hotel brand known for making days brighter, is seeking two adventurous BFFs to take on 2024’s hottest gig: the Solar Sun-ternship. One ‘sun and moon’ duo will embark on an unforgettable journey to witness the 2024 total solar eclipse from a private helicopter experience, giving an unparalleled vantage point of the path of totality. The twist? Capture their experience with photo and video content to share with Days Inn guests on social media. Best of all, the coveted job comes with a $5,000 payday for each Sun-tern.

“Since 2018, our Sun-ternship program has helped travel-obsessed photographers Seize the Days® with once-in-a-lifetime travel opportunities. This year, we’re elevating the job to new heights, giving not just one but two Sun-terns a front-row seat to capture and share the magic of the eclipse.”

– John Henderson, President, Days Inn by Wyndham

 The Sun, Moon, and Days Inn
Winding its way across 200-miles, traversing five North American time zones like a celestial ribbon, the path of totality – the area where the solar eclipse is most visible – crosses through major cities like San Antonio, Little Rock, Cleveland, and Montreal. A rare celestial spectacle, the April 8 event is a once in a generation occurrence, with the next total eclipse not anticipated until 2044.

While only two lucky individuals will claim the role of Sun-terns, between one and four million Americans are estimated to travel for the Eclipse. Thankfully, Days Inn and its sister-brands across the Wyndham family offer a combined 1,200+ hotels with unrivaled viewing spots across North America—meaning anyone who wants a chance to witness the cosmic marvel, has the chance to do so.  A list of top viewing locations is available at www.wyndhamhotels.com/eclipse.

How to Get the Gig
Days Inn invites all photo-obsessed BFFs to apply for the role. In addition to scoring $5,000 each for their work, the Sun-terns will receive a professional photography class, hotel accommodation, travel stipend, Wyndham Rewards® Diamond membership and of course, plenty of Days Inn swag.

Responsibilities:

• Travel to San Antonio, Texas, April 7-9, 2024.
• Document their experience with photo and video content for Days Inn social channels.
• Inspire others by sharing your experiences on your social media channels.

Qualifications:

• A social-media savvy duo—18 years or older—with a passion for photography and social media.
• U.S. and Canadian (Quebec excluded) residents with a valid passport and/or federal or state-issued ID.
• Both applicants must reside in the same country.
• Comfortable working at heights.

The Perks:

• $5,000 per Sun-tern cash payday.
• A rare opportunity to watch the total solar eclipse on April 8 from a helicopter.
• Paid single hotel room for two guests.
• Photography course from a nature and landscape photography expert.
• Travel stipend for airfare, ground transportation and/or meals.
• Wyndham Rewards® Diamond level membership.
• A suitcase full of Days Inn swag to share.
• A glowing recommendation from a Days Inn by Wyndham executive upon successful completion of the internship.

How to Apply:
Visit www.daysinn.com/suntern by March 5, 2024, to submit:

1. The full names of both individuals in the pair.
2. Both places of residency in the U.S. or Canada (excluding Quebec).
3. Email address for both individuals in the pair.
4. Social media profiles of both participants.
5. One (1) original sun-filled photo of a sunrise, sunset or landscape.
6. One (1) photo of your duo; the two candidates entering the contest.
7. One (1) 250-word maximum essay describing a) your relationship (couples, partner, friends, family, etc.) and b) why you are the ideal candidates for this once-in-a-lifetime opportunity.
8. Preferred but not required: Any relevant links to photography gallery showcasing previous work.

Days Inn will evaluate applicants’ photography and storytelling skills before selecting the winning pair. Entries must come in the form of one (1) application per pair. For more information and official contest rules visit www.daysinn.com/suntern.

About Days Inn by Wyndham
With over 1,500 locations in over 20 countries, Days Inn by Wyndham is one of the largest, most well-recognized hotel brands in the world. Welcoming guests with a warm smile and an inviting room, most locations offer fast, free Wi-Fi; complimentary light breakfast; swimming pool or fitness center; and more. Whether it’s small town or downtown, a trip with family or a getaway with friends, count on Days Inn by Wyndham for a great stay paired with a little extra sunshine along the way. Seize The Days and book your next stay at www.daysinn.com. You can also like and follow us on Facebook, Instagram, and YouTube. 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 approximately 872,000 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 24 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 over 106 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.

Increases Quarterly Dividend by 9%; Reiterates Full-Year 2024 Outlook

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PARSIPPANY, N.J. (February 14, 2024) – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months and year ended December 31, 2023.  Highlights include:

• System-wide rooms grew organically by 3.5% year-over-year, a record high.
• Opened a record 66,000 organic rooms, representing a year-over-year increase of 3%.
• Global retention rate – including all terminations – improved another 30 basis points to a record 95.6%.
• Development pipeline grew 1% sequentially and by 10% year-over-year to a record 240,000 rooms. 
• Grew ECHO Suites pipeline nearly 60% year-over-year with 98 new contract signings.
• Signed 766 contracts for legacy brands, an increase of 8% year-over-year.
• Fourth quarter diluted earnings per share of $0.60 and net income of $50 million; adjusted diluted EPS of $0.91, adjusted net income of $75 million and adjusted EBITDA of $154 million. 
• Full-year 2023 diluted EPS of $3.41 and net income of $289 million; adjusted diluted EPS of $4.01, adjusted net income of $341 million and adjusted EBITDA of $659 million. 
• Net cash provided by operating activities of $376 million and free cash flow of $339 million for the full-year. 
• Returned $515 million to shareholders for the full-year through $397 million of share repurchases and quarterly cash dividends of $0.35 per share. 
• Board of Directors recently authorized a 9% increase in the quarterly cash dividend to $0.38 per share beginning with the dividend expected to be declared in first quarter 2024.

“We are tremendously proud to report fourth quarter results that demonstrate the continued success of our global strategy and our accelerating momentum,” said Geoff Ballotti, president and chief executive officer.  “Despite the distraction, uncertainty and misperceptions caused by Choice and their slanted and constant communications to our franchisee base, room openings accelerated and our global development pipeline grew by 10% to an all-time high of 240,000 rooms.  Our team opened 27% more rooms than last year in the fourth quarter and we welcomed 500 new hotels to our system in 2023.  This, when combined with our improving franchisee engagement and record retention rate, drove the best organic system growth we’ve ever achieved. We grew comparable adjusted EBITDA by 6% and returned over half a billion dollars to our shareholders through dividends and share repurchases.  We are confident in the continued effectiveness of our growth strategy and see exceptional value-creation opportunities in the years ahead.”

System Size and Development

The Company’s global system grew 3.5%, marking 12 consecutive quarters of organic growth and reflecting 1% growth in the U.S. and 7% internationally.  As expected, these increases included strong growth in both the higher RevPAR midscale and above segments in the U.S. and the direct franchising business in China, which grew 3% and 13%, respectively.  The Company also increased its retention rate, which includes all terminations, by another 30 basis points year-over-year, ending the year at a record 95.6%.

On December 31, 2023, the Company’s global development pipeline consisted of over 1,950 hotels and approximately 240,000 rooms, representing another record-high level and a 10% year-over-year increase. Key highlights include:

• 14^th consecutive quarter of sequential pipeline growth
• 8% growth in the U.S. and 11% internationally
• Approximately 70% of the pipeline is in the midscale and above segments, which grew 6% year-over-year
• Approximately 58% of the pipeline is international
• Approximately 79% of the pipeline is new construction, of which approximately 34% has broken ground
• The Company awarded 766 new contracts for its legacy brands in full-year 2023, an increase of 8% compared to full-year 2022.  Additionally, the Company awarded 98 additional new contracts for its ECHO Suites brand and, as of December 31, 2023, the Company had awarded 268 contracts, or over 33,000 rooms, for the brand.

RevPAR

Fourth quarter global RevPAR declined 1% in constant currency compared to 2022 reflecting a 4% decline in the U.S. and growth of 7% internationally.  For the full year, global RevPAR grew 5% in constant currency compared to 2022 reflecting a 1% decline in the U.S. and growth of 21% internationally.

The Company had achieved record-breaking RevPAR in the U.S. during the preceding year due to COVID-impacted travel patterns.  Comparing to 2019 to neutralize for COVID-impacted travel patterns, U.S. RevPAR grew 10% in fourth quarter – a 120 basis point acceleration from third quarter 2023 growth – and 9% for the full year.  Internationally, year-over-year RevPAR growth for both the fourth quarter and the full-year was primarily driven by higher occupancy levels.  Compared to 2019, international RevPAR grew in fourth quarter and full-year by 44% and 36%, respectively, on a constant-currency basis.

Operating Results

Fourth Quarter

• Fee-related and other revenues was $320 million compared to $310 million in fourth quarter 2022 reflecting global net room growth as well as higher license and ancillary fees.
• The Company generated net income of $50 million compared to $56 million in fourth quarter 2022. The decrease was reflective of a higher effective tax rate, higher interest expense, foreign currency impact from hyper-inflation in Argentina and transaction-related expenses resulting from the unsolicited offer by Choice Hotels, partially offset by higher adjusted EBITDA.
• Adjusted EBITDA grew 22% to $154 million from $126 million. This increase included a $21 million favorable impact from marketing fund variability, excluding which adjusted EBITDA grew 6% primarily reflecting higher fee-related and other revenues.
• Diluted earnings per share was $0.60 compared to $0.63 in fourth quarter 2022. This decrease reflects lower net income, partially offset by the benefit of a lower share count due to share repurchase activity.
• Adjusted diluted EPS grew 26% to $0.91 per share from $0.72 per share. This increase included $0.19 per share related to the favorable marketing fund variability (after estimated taxes), excluding which adjusted diluted EPS was unchanged year-over-year as adjusted EBITDA growth and the benefit from share repurchase activity was substantially offset by higher interest expense.
• During fourth quarter 2023, the Company’s marketing fund revenues exceeded expenses by $9 million; while in fourth quarter 2022, the Company’s marketing fund expenses exceeded revenues by $12 million, resulting in $21 million of marketing fund variability.

Full Year

• Fee-related and other revenues was $1,384 million compared to $1,354 million in full-year 2022, which included $50 million from the Company’s select service management business and owned hotels, which were exited in 2022. On a comparable basis, fee-related and other revenues increased 6% year-over-year primarily reflecting global RevPAR and net room growth, higher license and ancillary fees and pass-through revenues associated with the Company’s global franchisee conference in September, which was held for the first time since 2019.
• The Company generated net income of $289 million compared to $355 million in full-year 2022, which included $37 million from the select-service managed and owned hotels. The decrease was reflective of a higher effective tax rate, higher interest expense, foreign currency impact from hyper-inflation in Argentina and transaction-related expenses resulting from the unsolicited offer by Choice Hotels, partially offset by higher adjusted EBITDA.
• Adjusted EBITDA was $659 million compared to $650 million in full-year 2022, which included $18 million from the select-service managed and owned hotels. The growth in adjusted EBITDA was further impacted by $11 million of unfavorable marketing fund variability. On a comparable basis, adjusted EBITDA increased 6% reflecting higher fee-related and other revenues.
• Diluted earnings per share was $3.41 compared to $3.91 in full-year 2022, which included $0.40 per share from the select-service managed and owned hotels. This decrease reflects the lower net income, partially offset by the benefit of a lower share count due to share repurchase activity.
• Adjusted diluted EPS was $4.01 per share compared to $3.96 per share in full-year 2022, which included $0.15 per share from the select-service managed and owned hotels. This growth in adjusted diluted EPS was further impacted by $0.09 per share (after estimated taxes) of unfavorable marketing fund variability. On a comparable basis, adjusted diluted EPS increased 8% year-over-year reflecting the adjusted EBITDA growth and the benefit from share repurchase activity, partially offset by higher interest expense.
• During full-year 2023, the Company’s marketing fund revenues exceeded expenses by $9 million; while in 2022, the Company’s marketing fund revenues exceeded expenses by $20 million, resulting in $11 million of marketing fund variability.

Full reconciliations of GAAP results to the Company’s non-GAAP adjusted measures for all reported periods appear in the tables to this press release.

Balance Sheet and Liquidity

The Company generated $376 million of net cash provided by operating activities and free cash flow of $339 million in the full-year 2023.  The Company ended the quarter with a cash balance of $66 million and approximately $650 million in total liquidity.

The Company’s net debt leverage ratio was 3.2 times at December 31, 2023, within the lower half of the Company’s 3 to 4 times stated target range.

Share Repurchases and Dividends

During the fourth quarter, the Company repurchased approximately 1.7 million shares of its common stock for $127 million.  For the full-year 2023, the Company repurchased approximately 5.5 million shares of its common stock for $397 million, at an average price of $72.25, 8% lower than trading levels as of February 13^th.

The Company paid common stock dividends of $28 million, or $0.35 per share, in the fourth quarter of 2023 for a total of $118 million, or $1.40 per share, for the full-year 2023.

For the full-year 2023, the Company returned $515 million to shareholders through share repurchases and quarterly cash dividends.

The Company’s Board of Directors authorized a 9% increase in the quarterly cash dividend to $0.38 per share, beginning with the dividend expected to be declared in first quarter 2024.

Full-Year 2024 Outlook

The Company provided the following outlook for full-year 2024:

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 expects marketing 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, February 15, 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 800 225-9448 and providing the passcode “Wyndham”.  Listeners are urged to call at least five minutes prior to the scheduled start time.  An archive of this webcast will be available on the website beginning at noon ET on February 15, 2024.  A telephone replay will be available for approximately ten days beginning at noon ET on February 15, 2024 at 800 839-9719.

Presentation of Financial Information
Financial information discussed in this press release includes non-GAAP measures, which include or exclude certain items.  These non-GAAP measures differ from reported GAAP results and are intended to illustrate what management believes are relevant period-over-period comparisons and are helpful to investors as an additional tool for further understanding and assessing the Company’s ongoing operating performance.  The Company uses these measures internally to assess its operating performance, both absolutely and in comparison to other companies, and to make day to day operating decisions, including in the evaluation of selected compensation decisions.  Exclusion of items in the Company’s non-GAAP presentation should not be considered an inference that these items are unusual, infrequent or non-recurring.  Full reconciliations of GAAP results to the comparable non-GAAP measures for the reported periods appear in the financial tables section of this press release.

About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,200 hotels across over 95 countries on six continents.  Through its network of approximately 872,000 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 24 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 over 106 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 as a 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 www.investor.wyndhamhotels.com.  Accordingly, investors should monitor this section of the Company’s website in addition to following the Company’s press releases, filings submitted with the Securities and Exchange Commission and any public conference calls or webcasts.

For information related to Choice Hotels’ hostile offer, please visit www.staywyndham.com.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements related to the Company’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.  The Company claims the protection of the Safe Harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements (other than with respect to statements made in connection with the unsolicited exchange offer by Choice to acquire all outstanding shares of our common stock (the “Exchange Offer”)). Forward-looking statements include those that convey management’s expectations as to the future based on plans, estimates and projections at the time the Company makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “intend,” “goal,” “future,” “outlook,” “guidance,” “target,” “objective,” “estimate,” “projection” and similar words or expressions, including the negative version of such words and expressions.  Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company 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, factors relating to the Exchange Offer, including actions taken by Choice in connection with such offer, actions taken by Wyndham or its stockholders in respect of the Exchange Offer or other actions or developments involving Choice, such as a potential proxy contest, the completion or failure to complete the Exchange Offer, the effects of such offer on our business, such as the cost, loss of time and disruption; 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 the Company’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; the Company’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; the Company’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 the Company’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and the Company’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 the Company’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. The Company undertakes no obligation to 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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A win for travel planners and managers, real-time rates and availability go live across industry’s largest portfolio of economy and midscale hotels.

PARSIPPANY, N.J. (Feb. 12, 2024) – Group bookings across the industry’s largest portfolio of economy and midscale hotels will soon take minutes—not days—thanks to Groups360 and the rapid rollout of over 5,600 Wyndham hotels to the GroupSync^TM Marketplace.

The shift is a welcome change not just for traditional travel planners (think meetings, weddings and events) but also travel managers, particularly those in infrastructure-centric fields like construction and logistics, whose crews need to spend weeks if not months on the job, often with as little as 24-hour’s notice.

Through GroupSync, travel planners and managers can browse real-time rates and availability at participating hotels and directly book 10 to 50 rooms without needing to contact the hotel or engage in a traditional RFP—saving valuable time. Meeting space for events can also be booked at hotels when needed and where available.

“We’re always looking for new ways to make it simpler and easier for clients to do business with Wyndham. Whether it’s a family reunion, a youth sports tournament or a three-month-long bridge repair project—GroupSync makes it simple for groups to find the right hotel at the right price and book on the spot.”

 – Angie Gadwood, SVP Global Sales, Wyndham Hotels & Resorts

“Wyndham is one of the world’s leading hospitality companies and their portfolio is unique in that it represents key property categories that expand GroupSync’s Instant Booking inventory. In bringing their U.S. portfolio on board, we’re able to deliver a broader, more robust, more inclusive offering—one that’s better equipped to meet the needs of all travel planners and managers.”

– Kemp Gallineau, CEO, Groups360

Wyndham’s collaboration with Groups360 is the latest in a list of efforts to help its hotels tap into a multi-year, infrastructure-related travel boom and what it believes is a ~$3.3 billion revenue opportunity for franchisees. Last year, the Company expanded its Global Sales force by 25% and more recently, deployed new tools to help sellers better identify and capture infrastructure-related opportunities for franchisees.

Groups360 and GroupSync are also a part of Wyndham’s innovative Wyndham Business program which, through a suite of tools and resources, aims to help make business travel easier for all. The program caters to small and mid-size business owners, travel advisors, travel buyers, meeting planners and more—all while offering discounted rates and exclusive perks.

The majority of Wyndham hotels in the U.S. are anticipated to be available for instant booking on GroupSync this week with the last remaining hotels expected to go live before end of month. To browse hotels, check-rates and availability, or complete a booking, visit groupsync.com.

Images associated with the above release can be downloaded here.

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About Groups360
Groups360 was created with a singular goal — to empower meeting planners by bringing innovation, transparency and simplicity to the decades-old problem of booking groups. The company’s integrated technology solution, GroupSync™, enables suppliers to distribute inventory, engage with planners, and optimize group revenue. GroupSync also equips planners to search and shop hotels worldwide and to book rooms and space directly, online or through a simplified RFP process. GroupSync is the first distribution channel to offer online booking for both group hotel rooms and meeting space at scale. Groups360 has offices in Nashville, London and Singapore. Learn more at groups360.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 9,100 hotels spanning over 95 countries and six continents. Through its network of approximately 858,000 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 24 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 105 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.

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Project HQ leverages sbe’s decades of lifestyle expertise, offering a transformative solution for adapting legacy hotels into exceptional centers for dining, nightlife, and wellness. 

Designed for savvy Millennial and Gen Z travelers, Project HQ has strategic investment from entertainment icon and entrepreneur, Marc Anthony; targeting 50 open hotels by 2030.

Project HQ joins Wyndham’s Registry Collection Hotels brand, tapping into the scale, resources and reach of the world’s largest hotel franchisor.

MIAMI (January 22, 2024) – sbe, the privately-held leading international lifestyle hospitality group that develops, manages and operates world-class hotels, restaurants, lounges and nightclubs, and Wyndham Hotels & Resorts (NYSE: WH), the world’s largest hotel franchising company with approximately 9,100 hotels spanning over 95 countries, announced today the launch of a new smart lifestyle brand under the working title, Project HQ Hotels & Residences.

Project HQ unites the decades of experience of lifestyle visionary Sam Nazarian with the global scale, resources and reach of Wyndham. Owned by sbe with strategic investment by entertainment icon, entrepreneur and sbe equity partner Marc Anthony and his company Magnus, Project HQ will be affiliated with Wyndham’s Registry Collection Hotels, which caters to hotel owners in the luxury and smart lifestyle segments.

This marks sbe’s first hotel brand after the 2020 sale of its hospitality brand and management platform which included over 100 hotels (SLS, Delano, Mondrian and Hyde, among others), more than 150 restaurants and lounges, and over $4 billion of luxury residential sales.

Sam Nazarian, Founder & CEO of sbe states:

“At sbe, we believe in the fundamental value of hotels as places where people make memories and experience wonder. When we created lifestyle luxury back in 2005 with SLS, we forged a new category. Now, almost 20 years later we look to reinvent lifestyle again with Project HQ, the first smart lifestyle hotel brand. We will channel our entrepreneurial spirit and deep industry expertise into crafting intuitive, groundbreaking solutions for both hotel owners and guests. As a global leader for over two decades, we feel uniquely equipped to solve for the unmet needs of the next generation who are eager to engage with culinary excellence and vibrant social spaces that we’ve curated and cultivated with intention. It is such a privilege to have the support of an icon and entrepreneur like Marc Anthony as we embark on this next chapter. We also feel so honored to have established a strategic alliance with the best-in-class team at Wyndham and look forward to bringing The Wyndham Advantage to owners of Project HQ hotels around the globe.”

Geoff Ballotti, President & CEO of Wyndham states:

“Today we are combining Sam Nazarian’s unmatched culinary and lifestyle experience with the unrivalled scale and resources of the world’s largest hotel franchisor to fuel Project HQ Hotels & Residences. Our owners drive our success. Hotel owners searching for a differentiated, yet approachable, lifestyle brand will immediately benefit from the scale and resources of the world’s largest hotel franchisor, gaining access to best-in-class sales, distribution and technology, along with the industry’s number one hotel loyalty program in Wyndham Rewards.”

Smart Lifestyle: A New Category

With over two decades of experience in lifestyle hospitality, sbe is setting out to pave the way for a new category, smart lifestyle, revolutionizing hospitality by building communities and creating meaningful memories for its savvy Millennial and Gen Z guests through memorable experiences. Project HQ was concepted to be a more approachable experience for the consumer that has been priced out of the lifestyle hotel market and doesn’t feel like they have a brand that speaks to their desires in travel. Project HQ is the only smart lifestyle brand that provides innovative, proven solutions for the hospitality space. The brand name “Project HQ” is born from the concept that Project HQ Hotels will be in the heart of the cities they launch in, serving as the “headquarters” for exceptional dining, nightlife and wellness.

Project HQ’s 360 Approach to Smart Lifestyle

With brands backed by celebrity chefs like Casa Dani from 3-star Michelin Chef Dani García; MXO, a Mexican Steakhouse by Chef Wes Avila; the award-winning Katsuya by Chef Katsuya Uechi; and more brands in incubation with rising stars in the culinary space, Project HQ provides a unique food and beverage experience that transforms its hotels into sought-after destinations for locals and travelers alike. With a comprehensive approach, Project HQ offers legacy hotel owners an unparalleled and simplified experience to revitalize their properties, elevating them into distinguished Project HQ Hotels & Residences.

With a 360 approach to programming a property, Project HQ can equip a hotel with a desirable brand and global awareness, pre-approved FF&E packages, supply chain, technology integrations, OS&E packages, and unique programming to monetize otherwise underutilized spaces of the hotel. Project HQ can deliver this through its collection of partnerships and collaborations.

Project HQ will provide owners with sbe wellness programming, adding the med spa offering with sbe Wellness Clinics, and myriad food and beverage offerings ranging from fine dining to the array of brands from Sam Nazarian’s C3 and Nextbite with influential celebrity partners like Sofia Vergara, Dario Cecchini, Iron Chef Masharu Morimoto, Dani García, and Wes Avila;  YouTube influencers like Dude Perfect and Matt Stonie; legendary brands like Umami Burger and Soom Soom and additional brands with cult followings. These comprehensive enhancements will not only help hotels revitalize their real estate, but deeply enrich the guest experience, making every visit memorable and unique.

Project HQ Branded Residential

Project HQ will also deliver a uniquely positioned branded residential offering for underserved markets like integrated student housing, workforce housing and the like. After launching an extremely successful branded residential business with brands like SLS and Mondrian that regularly sold for ~20% above market rates, this Project HQ product is set to build on that expertise to deliver a unique smart lifestyle residential program that will drive licensing revenue for owners and address a need for the most sought-after Millennial and Gen Z audience.

A Strategic Alliance: Wyndham

Through its strategic alliance with Wyndham, Project HQ join Wyndham’s Registry Collection Hotels brand. Widely recognized for its OwnerFirst^SM approach, Wyndham in recent years has invested more than $275 million in technology, helping deliver industry-first sales, marketing and digital innovations including mobile check-in/check-out, mobile key and more—all while expanding its on-the-ground operational support of hotels.

From next-gen property and revenue management systems to opt-in, revenue-boosting, ancillary services like its Signature Reservation Services, to loyalty-building team member incentives like The Rewards Circle—no other major hotel company is more focused or more committed to the long-term, collective success of owners and franchisees.

Project HQ will also participate in Wyndham Rewards, connecting them to a rapidly growing enrolled member base of approximately 105 million everyday travelers around the globe. Program members account for nearly one out of every two check-ins at Wyndham’s hotels across the U.S. and on average, stay and spend nearly twice as much as non-members. Wyndham Rewards is routinely celebrated for its simple, generous approach to rewards has been named the number one hotel rewards program by both U.S. News & World Report and the readers of USA TODAY.

The Future of PROJECT HQ

Project HQ plans to open 50 hotels by 2030, delivering approximately 7,500 rooms designed uniquely for the savvy Millennial and Gen Z traveler. PROJECT HQ’s business development team will also benefit from the experience and reach of Wyndham’s large development organization, aiding the brand in seeking out both ground up developments and conversion Projects. Project HQ’s concept is a solution that legacy hotel owners have a deep and urgent need for in todays’ market. Project HQ plans to open 50% of its properties stateside with 50% of openings internationally, and a mix of 80% conversion Projects and 20% ground up new construction.

Images associated with the above release can be downloaded here.

About sbe

Established in 2002 by Founder and CEO Sam Nazarian, sbe is a privately-held, leading lifestyle hospitality company that develops, manages and operates world-class hotels, restaurants, lounges and nightclubs. Through exclusive partnerships with cultural visionaries, sbe is devoted to creating extraordinary experiences throughout its proprietary brands with a commitment to authenticity, sophistication, mastery and innovation. Over the last decade, sbe has mastered the art of creating desirable destinations; the lifestyle platform included over 100 hotels and 150 restaurants and lounges. In 2020, Sam Nazarian shifted his focus to the culinary and nightlife world by launching Disruptive Restaurant Group (DRG.) DRG incubates and operates globally renowned culinary brands including critically-acclaimed restaurants, lounges and nightclubs. By partnering with an impressive roster of internationally renowned culinary talent, DRG concepts are committed to innovation and setting new industry standards. Restaurants and lounges include: Casa Dani, by three Michelin-starred Chef Dani Garcia; Citizens; Katsuya, by Chef Katsuya Uechi; Kumi; MXO by Wes Avila, Doheny Room; HYDE; LiFE; and S Bar. In 2023, sbe announced its foray back into hotels with PROJECT HQ Hotels & Residences, a smart lifestyle concept launched via a strategic alliance with Wyndham Hotels & Resorts. Sam Nazarian has consistently demonstrated his ability to anticipate and shape the future of hospitality and gastronomy. With his unwavering passion, entrepreneurial prowess, and a portfolio of iconic brands, Sam has cemented his position as a trailblazer in both the hospitality and culinary world for generations to come. To learn more, visit sbe.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 9,100 hotels spanning over 95 countries and six continents. Through its network of approximately 858,000 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 24 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 105 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including statements related to the development and rooms growth. Wyndham claims the protection of the Safe Harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements. Forward-looking statements include 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,” “intend,” “goal,” “future,” “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 hereof. Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation: general economic conditions, including inflation, higher interest rates and potential recessionary pressures; the effects from the coronavirus pandemic, including the impact on Wyndham’s business, 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; 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 SEC and subsequent reports filed with the SEC. Wyndham undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.

For a limited time, save up to 25% off Caesars Entertainment stays booked through Wyndham and earn 2,500 bonus points; plus, for a limited time, transfer up to 100,000 points between both programs at 1:1

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PARSIPPANY, N.J. (Nov. 1, 2023) – Wyndham Rewards®, the world’s most generous hotel rewards program spanning more than 50,000 hotels, vacation club resorts and vacation rentals, and Caesars Rewards®, the world’s leading gaming and entertainment loyalty program, have launched a new giveaway in which one lucky traveler will win an epic, all-expenses-paid, weekend for two in Las Vegas. The experience will include top-tier accommodations, airfare, tickets to a headliner show, a celebrity chef-inspired meal and more.

Complementing the giveaway, for a limited time, Wyndham Rewards and Caesars Rewards members can transfer up to 100,000 points for the equivalent number of points in the other program (1:1). Wyndham Rewards members can also receive up to 25% off plus 2,500 bonus points on bookings through Wyndham at participating Caesars Rewards Destinations.

“Vegas is a bucket list destination featuring some of the best hotels, food and entertainment in the world,” said Lisa Checchio, chief marketing officer, Wyndham Hotels & Resorts. “Through our longstanding collaboration with Caesars Rewards—one of, if not the richest partnerships in travel—our more than 105 million enrolled members receive VIP access, helping them unlock all the city has to offer.”

The Ultimate Vegas Weekend
Now through Dec. 1, travelers in the U.S. can visit www.wyndhamrewards.com/vegas to enter for a chance to win an ultimate weekend for two in Las Vegas.

One lucky grand prize winner will receive:

• A three-day, two-night stay in a premium room at Caesars Palace
• Round-trip domestic airfare for two
• Two tickets to a show of the winner’s choice (up to $1,000)
  • Garth Brooks/Plus One, Rod Stewart: The Hits, Jerry Seinfeld or Shania Twain: Come On Over – The Las Vegas Residency – All The Hits!
• Two tickets for the High Roller Observation Wheel (includes open bar)
• Celebrity chef-inspired dinner at a restaurant of the winner’s choice (up to $250)
  • Amalfi by Bobby Flay, Gordon Ramsay’s Hell’s Kitchen or The Bedford by Martha Stewart
• $1,000 in Caesars Rewards Credits (provided as 100,000 Wyndham Rewards points)

Seven runner-up winners will also receive 77,000 Wyndham Rewards points. More information, including complete and official rules, is available at www.wyndhamrewards.com/vegas.

Save up to 25% + Earn 2,500 Bonus Points
Now through Dec. 1, Wyndham Rewards members can save up to 25% when booking their favorite Caesars Rewards destinations through Wyndham—from Atlantic City to Lake Tahoe, Vegas to New Orleans—plus receive 2,500 Wyndham Rewards bonus points.

Available at more than 30 Caesars Rewards destinations across the U.S., members must book this special rate by Dec. 1, 2023, and complete their stay by Jan. 31, 2024. Blackout dates apply. For full terms and conditions, visit www.wyndhamrewards.com/caesars.

Two Award-Winning Programs, One Ultra-Rewarding Partnership
Since 2017, Wyndham Rewards and Caesars Rewards have partnered together to bring unforgettable travel experiences and industry-leading perks to everyday travelers across the globe. Recognized by readers of USA Today as the #1 hotel rewards program and #1 gaming rewards program respectively, the two programs combined create one of the richest partnerships in travel:

• Status Match

Through status match, Platinum and Diamond members of both programs may match to the corresponding level of their non-primary program – Platinum to Platinum, Diamond to Diamond – while Caesars Rewards Seven Stars members may match to Wyndham Rewards Diamond. For Wyndham Rewards members, this means unlocking perks like free parking, early check-in and no resort fees when staying at Caesars Rewards destinations. For Caesars Rewards members staying with Wyndham, it means perks like free Wi-Fi, late checkout, a preferred room, welcome amenities and more.

• 1:1 Point Transfer

Members can freely transfer rewards points between both programs at 1:1, and through the end of the year, members may transfer up to 100,000 points annually. Transferring 100,000 Wyndham Rewards points to Caesars Rewards equates to $1,000 to go toward show tickets, meals and hotel expenses or $500 in gaming credits. Meanwhile, transferring 100,000 Caesars Reward credits to Wyndham unlocks up to three nights (90,000 points) at Wyndham’s all-inclusive and luxury resorts or as many as 13 nights (97,500 points) at thousands of value and mid-priced hotels around the world.

“Caesars Rewards is the gold standard when it comes to gaming and entertainment loyalty programs,” said Megan Rodriguez, SVP of Loyalty and CRM at Caesars Entertainment. “Our partnership with Wyndham only serves to further elevate our program, offering unmatched access and rewards across one of the world’s largest travel portfolios while ensuring our members receive the status and recognition they deserve, no matter where their travels may take them.”

For more information Wyndham Rewards, including its relationship with Caesars Rewards, visit www.wyndhamrewards.com/caesars.

# # #

About Wyndham Rewards
Named the number one hotel rewards program by both USA TODAY and US News & World Report, Wyndham Rewards® is the world’s most generous rewards program with more than 50,000 hotels, vacation club resorts and vacation rentals worldwide. Designed for the everyday traveler, members earn a guaranteed 1,000 points with every qualified stay and may redeem points for a wide range of rewards, including free nights at any of approximately 9,100 hotels or tens of thousands of vacation club resorts and vacation rentals globally through affiliation with Wyndham Destinations and others. Wyndham Rewards has more than 105 million enrolled members around the globe. Join for free today at www.wyndhamrewards.com.

About Caesars Entertainment, Inc.
Caesars Entertainment, Inc. (NASDAQ: CZR) is the largest casino-entertainment company in the US and one of the world’s most diversified casino-entertainment providers. Since its beginning in Reno, NV, in 1937, Caesars Entertainment, Inc. has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment, Inc.’s resorts operate primarily under the Caesars®, Harrah’s®, Horseshoe®, and Eldorado® brand names. Caesars Entertainment, Inc. offers diversified gaming, entertainment and hospitality amenities, one-of-a-kind destinations, and a full suite of mobile and online gaming and sports betting experiences. All tied to its industry-leading Caesars Rewards loyalty program, the company focuses on building value with its guests through a unique combination of impeccable service, operational excellence and technology leadership. Caesars is committed to its employees, suppliers, communities and the environment through its PEOPLE PLANET PLAY framework. To review our latest CSR report, please visit www.caesars.com/corporate-social-responsibility/csr-reports. Know When To Stop Before You Start.® Gambling Problem? Call 1-800-522-4700. For more information, please visit www.caesars.com/corporate. If you think you or someone you care about may have a gambling problem, call 1-877-770-STOP (1-877-770-7867).

About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,100 hotels across over 95 countries on six continents.  Through its network of approximately 858,000 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 24 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 105 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.

Company Raises Full-Year 2023 EPS Outlook, Grows Development Pipeline by Another 12%

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PARSIPPANY, N.J., October 25, 2023 – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended September 30, 2023.  Highlights include:

• Global RevPAR grew 3% compared to third quarter 2022 in constant currency.
• System-wide rooms grew 3% year-over-year.
• Development pipeline grew 4% sequentially and 12% year-over-year to a record 237,000 rooms.
• Signed over 230 contracts, an increase of 8% year-over-year, including 60 new construction projects for ECHO Suites Extended Stay by Wyndham.
• Returned $134 million to shareholders through $105 million of share repurchases and a quarterly cash dividend of $0.35 per share.

“We recently announced our Board of Directors unanimously rejected an unsolicited stock-and-cash proposal by Choice Hotels to acquire our company.  Our Board of Directors, together with our financial and legal advisors, closely reviewed Choice’s latest proposal and determined, for multiple reasons, that it is not in the best interest of our shareholders.  They remain confident that our standalone growth prospects offer superior, risk-adjusted returns to Wyndham shareholders,” said Geoff Ballotti, president and chief executive officer.  “Supporting that belief are our third quarter results, which were highlighted by continued growth in global RevPAR, ongoing domestic and international organic net room growth and another 8% increase in hotel contracts awarded to franchisees driving our development pipeline to a record 1,930 hotels.  Our economy brands gained market share domestically amidst a backdrop of normalizing U.S. leisure demand, and international occupancy continued to recover.  Adjusted EBITDA grew in line with our expectations, we generated strong free cash flow and we returned significant capital to our shareholders. We remain focused on our growth strategy, which includes continued system expansion through our ECHO Suites by Wyndham brand and further improvements in franchisee retention, as well as the multi-year benefit expected from the U.S. infrastructure bill. We’re enthusiastic about our ability to deliver exceptional value to our shareholders, guests, franchisees and team members in the months and years ahead.”

Third Quarter Financial Results

Fee-related and other revenues was $400 million compared to $375 million in third quarter 2022 reflecting global RevPAR and net room growth, higher license and ancillary fees as well as the pass-through revenues associated with the Company’s global franchisee conference in September, which was held for the first time since 2019.

The Company generated net income of $103 million, or $1.21 per diluted share, compared to $101 million, or $1.13 per diluted share, in third quarter 2022.  The increase was reflective of higher adjusted EBITDA in the Company’s hotel franchising segment and a lower effective tax rate, partially offset by higher interest expense.  Adjusted diluted EPS grew 8% reflecting higher net income and a lower share count due to share repurchase activity.  Adjusted EBITDA increased 5% to $200 million primarily reflecting higher fee-related and other revenues as well as marketing fund variability.  During third quarter 2023, the Company’s marketing fund revenues exceeded expenses by $17 million; while in third quarter 2022, the Company’s marketing fund revenues exceeded expenses by $12 million.

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.

System Size

The Company’s global system grew 3%, reflecting 1% growth in the U.S. and 6% growth internationally.  As expected, these increases included strong growth in both the higher RevPAR midscale and above segments in the U.S. and the direct franchising business in China, which grew 4% and 16%, respectively.

RevPAR

Third quarter global RevPAR grew by 3% in constant currency compared to 2022 reflecting a 1% decline in the U.S. and growth of 16% internationally.  The Company had achieved record-breaking RevPAR in the U.S. during the preceding year due to COVID-impacted travel patterns.  The Company’s U.S. economy brands gained market share of 100 basis points in the third quarter.  Comparing to 2019 to neutralize for COVID-impacted travel patterns, U.S. RevPAR grew 9%, a 30 basis point acceleration from second quarter 2023 growth.  International RevPAR growth was driven by higher occupancy levels and stronger pricing power in connection with COVID recovery, and compared to 2019 grew 45% on a constant-currency basis, a 120 basis point acceleration from second quarter 2023 growth.

Development

• On September 30, 2023, the Company’s global development pipeline consisted of over 1,930 hotels and approximately 237,000 rooms, representing a 12% year-over-year increase, including 16% growth in the U.S.
• Approximately 69% of the Company’s pipeline is in the midscale and above segments.
• Approximately 58% of the Company’s development pipeline is international.
• Approximately 80% of the Company’s pipeline is new construction, of which approximately 34% has broken ground.
• During third quarter 2023, the Company awarded 172 new contracts for its legacy brands, an increase of 4% year-over-year. Additionally, the Company awarded 60 additional new contracts for its ECHO Suites Extended Stay by Wyndham brand and, as of September 30, 2023, the total number of contracts awarded for the brand was 265, or nearly 33,000 rooms.

Balance Sheet and Liquidity

As of September 30, 2023, the Company had $2.2 billion of long-term debt outstanding with a weighted average interest rate of 4.9%.  The Company borrowed $110 million on its revolving credit facility during the third quarter and had an available borrowing capacity of $631 million after considering $9 million of outstanding letters of credit as of September 30, 2023.  The Company ended the quarter with a cash balance of $79 million and approximately $710 million in total liquidity.

The Company generated net cash provided by operating activities of $77 million and free cash flow of $67 million in third quarter 2023.

The Company has pay-fixed/receive-variable interest rate swaps in place to hedge $600 million of the Term Loan B Facility, set to expire in the second quarter of 2024.  During the third quarter of 2023, the Company executed $600 million of new forward starting interest rate swaps on the Term Loan B Facility, which will begin in second quarter 2024 and expire in 2028.  The fixed rate of the new swaps is 3.8%.

Share Repurchases and Dividends

During the third quarter, the Company repurchased approximately 1.4 million shares of its common stock for $105 million.  Year-to-date through September 30, the Company repurchased approximately 3.8 million shares of its common stock for $270 million.

The Company paid common stock dividends of $29 million, or $0.35 per share.

Rejection of Unsolicited Offer

On October 17, 2023, the Company announced that its Board of Directors unanimously rejected a highly conditional, unsolicited stock-and-cash proposal by Choice Hotels International, Inc. (“Choice”) to acquire all outstanding shares of Wyndham. Wyndham’s Board of Directors, together with its financial and legal advisors, closely reviewed Choice’s latest proposal with a nominal value of $90 per share, comprised of 45% in stock and 55% in cash, and determined that it is not in the best interest of Wyndham shareholders to accept the proposal.

Full-Year 2023 Outlook

The Company is updating its outlook as follows to reflect the impact of third quarter share repurchase activity:

Year-over-year growth rates are not comparable due to the sale of the Company’s owned hotels and the exit of its select-service management business, both of which occurred during 2022, as well as the variability in its marketing funds due to the support that the Company provided to its owners during 2020.

The Company’s expectations for full-year 2023 marketing funds contribution to adjusted EBITDA is unchanged at $10 million.  The Company expects fund revenues will outpace fund expenses by approximately $11 million during the fourth quarter.

More detailed projections are available in Table 8 of this press release.  The Company is providing certain financial metrics only on a non-GAAP basis because, without unreasonable efforts, it is unable to predict with reasonable certainty the occurrence or amount of all of the adjustments or other potential adjustments that may arise in the future during the forward-looking period, which can be dependent on future events that may not be reliably predicted. Based on past reported results, where one or more of these items have been applicable, such excluded items could be material, individually or in the aggregate, to the reported results.

Conference Call Information

Wyndham Hotels will hold a conference call with investors to discuss the Company’s results and outlook on Thursday, October 26, 2023 at 8:30 a.m. ET.  Listeners can access the webcast live through the Company’s website at https://investor.wyndhamhotels.com.  The conference call may also be accessed by dialing 800 225-9448 and providing the passcode “Wyndham”.  Listeners are urged to call at least five minutes prior to the scheduled start time.  An archive of this webcast will be available on the website beginning at noon ET on October 26, 2023.  A telephone replay will be available for approximately ten days beginning at noon ET on October 26, 2023 at 800 839-6964.

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 9,100 hotels across over 95 countries on six continents.  Through its network of approximately 858,000 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 24 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 105 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.  The Company may use its website as a 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.  Accordingly, investors should monitor this section of the Company’s website 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 the Company’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. The Company claims the protection of the Safe Harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements. Forward-looking statements include those that convey management’s expectations as to the future based on plans, estimates and projections at the time the Company makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “intend,” “goal,” “future,” “outlook,” “guidance,” “target,” “objective,” “estimate,” “projection” and similar words or expressions, including the negative version of such words and expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, general economic conditions, including inflation, higher interest rates and potential recessionary pressures; the worsening of the effects from the coronavirus pandemic (“COVID-19”); COVID-19’s scope, duration, resurgence and impact on the Company’s business operations, financial results, cash flows and liquidity, as well as the impact on the Company’s franchisees, guests and team members, the hospitality industry and overall demand for and restrictions on travel the Company’s continued performance during the recovery from COVID-19 and any resurgence or mutations of the virus concerns with or threats of other pandemics, contagious diseases or health epidemics, including the effects of COVID-19; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising businesses; the Company’s relationships with franchisees; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflict between Russia and Ukraine; the Company’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 the Company’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and the Company’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 the Company’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. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.

Proposal Presents Unacceptable Risk to Wyndham Shareholders

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PARSIPPANY, N.J. (Oct. 17, 2023) – Wyndham Hotels & Resorts (NYSE: WH) (“Wyndham” or the “Company”), the world’s largest hotel franchising company with approximately 9,100 hotels spanning more than 95 countries, announced that its Board of Directors unanimously rejected a highly conditional, unsolicited stock-and-cash proposal by Choice Hotels International, Inc. (NYSE: CHH) (“Choice”) to acquire all outstanding shares of Wyndham.

Wyndham’s Board of Directors, together with its financial and legal advisors, closely reviewed Choice’s latest proposal with a nominal value of $90 per share, comprised of 45 percent in stock and 55 percent in cash and determined that it is not in the best interest of shareholders to accept the proposal.

In rejecting Choice’s proposal, the Wyndham Board of Directors determined that:

• the proposed transaction involves significant business and execution risks, including an extended regulatory timeline and uncertainty of outcome, potential franchisee churn, and excessive leverage levels at the pro forma combined company
• the consideration mix includes a significant component of Choice stock, which the Board believes is fully valued relative to Choice’s growth prospects, especially when compared to Wyndham
• the offer is opportunistic and undervalues Wyndham’s future growth potential

“Choice’s offer is underwhelming, highly conditional, and subject to significant business, regulatory and execution risk.  Choice has been unwilling or unable to address our concerns,” said Stephen P. Holmes, Chairman of the Wyndham Board of Directors.  “While our Board would support a value-maximizing transaction, given the substantial, unmitigated embedded risks and value destruction potential presented by the proposed transaction, our Board determined it is not in the best interests of Wyndham shareholders.  We have engaged with Choice and its advisors on multiple occasions to explore these risks.  However, it became clear the proposed transaction likely would take more than a year to even determine if, and on what terms, it could clear antitrust review, and Choice was unable to address these long-term risks to Wyndham’s business and shareholders. We are disappointed that Choice’s description of our engagement disingenuously suggests that we were in alignment on core terms and omits to describe the true reasons we have consistently questioned the merits of this combination – Choice’s inability and unwillingness to address our significant concerns about regulatory and execution risk and our deep concerns about the value of their stock.”

Wyndham’s Board believes that during the long period between announcement and closing or termination of the transaction, Wyndham shareholders would be exposed to the threat of significant long-term deterioration of Wyndham’s brand equity, franchisee churn, and impaired integration execution at the combined company in which Wyndham shareholders would have significant interest.

In addition, the significant amount of debt required to fund the cash portion of the deal would result in the combined company’s net leverage being over 6x adjusted EBITDA. This above-market leverage would increase execution risk and restrict the balance sheet flexibility of the combined company, putting downward pressure on future growth potential, share price and valuation multiples. As a result, the value creation from cost synergies may not be fully realized.

Wyndham’s Board also has significant questions and concerns about the value of Choice’s stock.  Choice’s latest offer includes 45% in Choice stock, which Wyndham’s Board believes is fully valued. Industry experts unequivocally share the view of Choice being fully valued, with over three-quarters of research analysts having Choice at a Sell or Hold rating.   Wyndham’s Board sees Choice’s offer as an attempt to mask their anemic organic growth and believes Wyndham shareholders are better positioned owning Wyndham’s stock, which has significant upside relative to Choice’s fully valued stock.

• Net room growth: Excluding the Radisson acquisition, Choice’s organic total net rooms actually declined year-over-year by (2%), implying negative organic growth across Choice’s broader brand portfolio for the seventh consecutive quarter. In contrast, Wyndham’s organic total year-over-year net room growth was +3% as of June 30, 2023, which marks the seventh consecutive quarter of positive net room growth.
• Revenue and EBITDA growth: After adjusting for the Radisson acquisition, the organic Choice business displayed 1H 2023 growth in revenue of 0% and an increase in adjusted EBITDA of only 1%, compared to Wyndham’s comparable revenue growth of 7% and comparable adjusted EBITDA growth of 9%.
• EBITDA margin: Wyndham’s efficient operations result in an Adjusted EBITDA margin premium of ~800 basis points compared with Choice.
• Free cash flow conversion: Wyndham’s more efficient business model results in significantly higher free cash flow conversion than Choice’s.

Choice’s offer is an opportunistic attempt to take advantage of point-in-time stock price fluctuations coinciding with a time period where the exchange ratio is favorable to Choice.  Choice’s offer is insufficient relative to Wyndham’s recent trading levels, significant growth momentum and premiums paid in precedent change of control transactions. Wyndham’s Board believes Wyndham can deliver long-term shareholder value in excess of Choice’s offer by continuing to execute on its business plan.

• Consistent net room growth. Wyndham has reported seven consecutive quarters of positive net room growth and anticipates continued strong system growth going forward that will continue to provide significant upside to adjusted EBITDA.
• Rapidly growing pipeline. Wyndham’s hotel development pipeline growth continues to outpace peers – up 20% over the last two years – and, as of June 30, 2023, stood at an all-time high of approximately 228,000 rooms, which would contribute more than $120 million in incremental annual stabilized royalties.
• Industry-leading new brands. Wyndham’s newly launched brand, ECHO Suites Extended Stay by Wyndham, has quickly established itself as the industry’s fastest-growing brand with 265 contracts signed since its launch in March 2022.
• International presence and growth. Wyndham’s global brand recognition presents significant upside growth potential in contrast to Choice’s predominantly domestic portfolio. With more than 3,000 hotels in over 95 countries, the international segment experienced strong growth with system size increasing by 7% over the past two years and international royalty rate growing by over 30 basis points since 2019.
• Significant embedded upside from ongoing retention strategy. Wyndham’s signature owner-first^SM philosophy and ongoing enhancements to its franchisee value proposition have resulted in its industry-leading LTM franchisee retention rate improving from 93% at spin-off to over 95% as of June 30, 2023 with a go-forward target of greater than 96% (with each percentage point increase resulting in ~$4.7 million of incremental royalties and ~$3.9 million of incremental adjusted EBITDA).
• Geographic footprint and value proposition align with prevailing secular growth trends. Wyndham’s industry-leading domestic footprint is expected to disproportionately benefit from $1.5 trillion Infrastructure Investment and Jobs Act and CHIPS and Science Act spending based on a significant overlap with allocated spend markets, resulting in incremental royalties of more than $150 million over the next eight years.

Background on Choice proposals
On April 28, 2023, Choice submitted to the Wyndham Board an unsolicited offer to acquire Wyndham for a nominal value of $80 per share at the time of the offer, with 40% of the consideration in cash and the remainder in Choice stock.  The Wyndham Board reviewed this offer and deemed it insufficient. On May 9, 2023, the Wyndham Board responded to Choice that its offer substantially undervalued Wyndham relative to its standalone prospects.

On May 15, 2023, Choice submitted a second unsolicited offer to the Wyndham Board for a nominal value of $85 per share at the time of the offer, with 55% of the consideration in cash and the remainder in Choice stock. On May 29, 2023, the Wyndham Board responded to this revised proposal with its conclusion that the proposal continues to substantially undervalue Wyndham and puts the value of a combined company at risk given the high level of contemplated debt.

On June 22, 2023, Wyndham’s Chairman and CEO met with Choice’s Chairman and CEO in person to explain Wyndham’s concerns about Choice’s proposal, including the regulatory risks.

On August 14, 2023, Choice’s Chairman called Wyndham’s Chairman and provided a third unsolicited verbal offer for a nominal value of $90 per share at the time of the offer, with 55% of the consideration in cash and the remainder in Choice stock, with most of the increase in nominal value from the prior $85 per share offer coming from upward movement in Choice’s share price during the intervening period.

On August 17, 2023, Wyndham’s Chairman met with Choice’s Chairman in person to again explain Wyndham’s concerns about Choice’s proposal, including the regulatory risks, none of which were addressed in Choice’s latest proposal.

On August 21, 2023, Choice submitted a third, written unsolicited offer to the Wyndham Board, reiterating the nominal value of $90 per share verbally offered on August 14, 2023, with 55% of the consideration in cash and the remainder in Choice stock. On August 22, 2023, the Wyndham Board responded to this revised proposal with its conclusion that the proposal continues to substantially undervalue Wyndham relative to its future growth prospects, includes a substantial stock component which the Board believes is fully valued relative to Choice’s growth prospects, and involves significant business and execution risks for Wyndham shareholders.

Wyndham offered to enter into a customary mutual confidentiality agreement to facilitate discussions around the proposed transaction and the related risks. Choice refused to sign a mutual confidentiality agreement, thereby limiting the extent of engagement between the parties.

On September 5, 2023, Wyndham’s Chairman held a telephonic meeting with Choice’s Chairman to again discuss Wyndham’s concerns about Choice’s proposal, but those issues remain unaddressed by Choice as of today.

During the course of September 2023, Wyndham’s counsel held multiple conversations with Choice’s counsel to discuss regulatory and execution considerations, but Choice was unwilling to propose any mitigations to address Wyndham’s concerns about these risks and was unable to provide any convincing evidence of a pathway to resolve concerns raised by Wyndham.

As a result, on September 27, 2023, Wyndham’s Chairman informed Choice’s Chairman of the Wyndham Board’s decision to reject the Choice offer and the reasons for that determination.

Deutsche Bank Securities Inc. and PJT Partners are serving as financial advisors and Kirkland & Ellis LLP is legal advisor to Wyndham.

About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,100 hotels across more than 95 countries on six continents.  Through its network of approximately 852,000 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 24 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 over 103 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of federal securities laws, including statements related to our rejection of Choice’s unsolicited proposal.  The Company claims the protection of the Safe Harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements.  Forward-looking statements include those that convey management’s expectations as to the future based on plans, estimates and projections at the time the Company makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “intend,” “goal,” “future,” “outlook,” “guidance,” “target,” “objective,” “estimate,” “projection” and similar words or expressions, including the negative version of such words and expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, general economic conditions, including inflation, higher interest rates and potential recessionary pressures; the worsening of the effects from the coronavirus pandemic (“COVID-19”); COVID-19’s scope, duration, resurgence and impact on the Company’s business operations, financial results, cash flows and liquidity, as well as the impact on the Company’s franchisees, guests and team members, the hospitality industry and overall demand for and restrictions on travel the Company’s continued performance during the recovery from COVID-19 and any resurgence or mutations of the virus concerns with or threats of other pandemics, contagious diseases or health epidemics, including the effects of COVID-19; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising businesses; the Company’s relationships with franchisees; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflict between Russia and Ukraine; the Company’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 the Company’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and the Company’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 the Company’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. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.

Appendix
FOOTNOTES

1. Reconciliations of non-GAAP financial measures to the most-directly comparable GAAP financial measures can be found in the Appendix. Choice metrics are sourced from public filings unless stated otherwise.
2. Choice Q2 2023 room count adjusted for ~67k rooms acquired from Radisson.
3. Includes contribution from Vienna House brand acquisition, which impacts Y-o-Y growth rates by < 50 basis points.
4. Represents a comparison eliminating the contribution from Wyndham’s owned hotels and select-service management business, both of which were exited in the first half of 2022, as well as the variability in its marketing fund, which aligns with Choice’s treatment.
5. Radisson’s 1H 2023 adjusted EBITDA is calculated as assuming pro rata share of Radisson 2023E contribution of $60 – $65mm per earnings transcript based on Q2 2023 reported Choice adjusted EBITDA as a percentage of FY 2023E adjusted EBITDA guidance midpoint of $535mm.
6. Normalizes results for both companies so that the impacts from marketing, reservation and loyalty funds and owned hotels are on a comparable basis.
7. Free cash flow is calculated as net cash from operating activities less capital expenditures.
8. Domestic upscale, extended-stay and midscale segments.
9. Domestic segment only.

Appendix
FREE CASH FLOW

The following table reconciles certain non-GAAP financial measures. We define free cash flow to be net cash provided by operating activities less property and equipment additions, which we also refer to as capital expenditures.  We believe free cash flow to be a useful operating performance measure to us and investors to evaluate the ability of our operations to generate cash for uses other than capital expenditures and, after debt service and other obligations, our ability to grow our business through acquisitions and investments, as well as our ability to return cash to shareholders through dividends and share repurchases, to the extent permitted. We believe free cash flow conversion to be a useful liquidity measure to us and investors to evaluate our ability to convert our earnings to cash.  These non-GAAP measures are not necessarily a representation of how we will use excess cash.  A limitation of using free cash flow versus the GAAP measure of net cash provided by operating activities as a means for evaluating Wyndham Hotels is that free cash flow does not represent the total cash movement for the period as detailed in the consolidated statement of cash flows.

Appendix
ADJUSTED EBITDA

The table below reconciles a non-GAAP financial measure. The presentation of these adjustments is intended to permit the comparison of particular adjustments in order to assist investors’ understanding of the overall impact of such adjustments. We believe that adjusted EBITDA provides useful information to investors about us and our financial condition and results of operations because the measure is used by our management team to evaluate our operating performance and make day-to-day operating decisions and adjusted EBITDA is frequently used by securities analysts, investors and other interested parties as a common performance measure to compare results or estimate valuations across companies in our industry. The measures also assists our investors in evaluating our ongoing operating performance for reporting periods and, where provided, over different reporting periods, by adjusting for certain items which may be recurring or non-recurring and which in our view do not necessarily reflect ongoing performance. We also internally use this measure to assess our operating performance, both absolutely and in comparison to other companies, and in evaluating or making selected compensation decisions. These supplemental disclosures are in addition to GAAP reported measures. These non-GAAP reconciliation tables should not be considered a substitute for, nor superior to, financial results and measures determined or calculated in accordance with GAAP.

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.

Building on the Company’s world-class technology and marketing stacks, innovative offerings help owners streamline operations, enhance the guest experience and increase profitability

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ANAHEIM, Calif. (Sept. 13, 2023) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels across more than 95 countries, today announced new efforts to further elevate the hotel ownership experience for its franchisees around the globe—debuting new, state-of-the-art, owner and guest engagement platforms. Unveiled today during the Company’s 2023 Global Conference in Anaheim, Calif., the tools come at no additional cost to Wyndham franchisees.

“Every day we’re helping our owners open doors to best-in-class technology, more efficient operations, better guest experiences and more profitable hotels,” said Geoff Ballotti, president and CEO, Wyndham Hotels & Resorts. “With award-winning brands, the number one hotel rewards program, a record development pipeline and historic levels of franchisee engagement and retention—there’s never been a better time to be a part of the world’s largest, and fastest growing, pure-play hotel franchising company.”

Driving Performance Through Community
Developed with help and insight from Wyndham’s franchise advisory and brand councils, Wyndham Community—the Company’s new owner engagement platform—marks a significant advancement for hotel owners looking to streamline and simplify management of their hotel operations, regardless of whether they own a single hotel or a portfolio spanning multiple brands and segments.

Offering actionable insights to help maximize hotel profitability, Wyndham Community seamlessly connects hotel owners to the day-to-day performance of their business while delivering a constant connection to the scale and resources of the world’s largest hotel franchisor. Through the tool, owners can access real-time insights on key business metrics across their portfolio, from anywhere and any device, while also keeping tabs on high-priority tasks and other key action items. Wyndham Community also provides a direct connection to operational support while serving as owners’ primary destination for vital news and updates.

Enhancing the Guest Experience
Wyndham’s new guest engagement platform, powered by Canary Technologies, further enhances the guest experience by providing hotel owners with a series of best-in-class, mobile-centric tools, helping them better cater to today’s travelers and their evolving needs. Slated to start rolling out in the coming weeks, it’s built around four key areas:

• AI-Driven Property Messaging
  Integrating directly with Wyndham’s next-gen property management systems (SynXis Property Hub and Opera Cloud), guests can text hotels directly for any needs throughout their stay. Frequently asked questions are answered by Wyndham Hospitality AI, freeing hotel staff to focus on other guest needs.
• Smart Mobile Check-In
  Building on Wyndham’s first-mover status to bring mobile check-in and checkout to the economy segment, this newest offering helps protect hotels against unwarranted chargebacks and fraud by incorporating credit card and ID verification prior to guests’ arrival, significantly speeding up the check-in process.
• Dynamic Upsell
  Hotels can engage guests in advance of their stay, offering enhancements like early check-in, late checkout and room upgrades. In doing so, hotel owners can now easily unlock new opportunities to boost revenue and their bottom line.
• Smart Mobile Checkout
  Upon checkout, housekeeping is automatically notified a new room is ready for cleaning while the checkout screen on the guest’s device asks for a review of the stay. On average, pilot properties are seeing a 25% increase in positive reviews.

Unlocking the Wyndham Advantage
Wyndham’s new owner and guest engagement platforms join a growing list of additional tools and resources, which collectively offer franchisees The Wyndham Advantage. From next-gen property and revenue management systems to opt-in, revenue-boosting, ancillary services like its Signature Reservation Services to loyalty-building incentives like The Rewards Circle; Wyndham continues to dedicate the full scope and scale of its resources to the long-term success of its franchisees. Over the last five years, the Company has invested more than $275 million in technology—delivering industry-first sales, marketing and digital innovations—all while expanding its on-the-ground operational support of hotels.

Adding to that growing list of firsts is Wyndham’s new OTA reconciliation tool. Aimed at correcting the OTA overbilling that can occur when a guest no-shows, cancels or shortens their reservation, the tool automatically reconciles each hotel’s stay data with the commissions previously charged at the time of booking. In instances of misalignment, the tool reconciles those stays so the appropriate commission is charged. Historically a manual process, or one which hotels needed to outsource to a third-party for a fee, the Wyndham-provided service is available today at no additional cost to franchisees and currently covers all bookings made through Expedia and its affiliated brands.

Wyndham’s 2023 Global Conference runs through Thursday, September 14. Built around the theme of “Opening Doors,” the 3-day, in-person event is known for being one of the largest gatherings of hoteliers and hotel suppliers in the world. For more information about Wyndham Hotels & Resorts, including franchising 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 9,100 hotels across over 95 countries on six continents.  Through its network of approximately 852,000 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 24 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Extended Stay®, Trademark Collection® and Wyndham®.  The Company’s award-winning Wyndham Rewards loyalty program offers over 103 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.

Nominate your pup to be Baymont's second-ever pet ambassador and receive $10,000

PARSIPPANY, N.J. (August 22, 2023) – Calling all travel-loving, camera-ready pups looking for their time to shine! In celebration of National Dog Day on August 26, Baymont® by Wyndham, the midscale hotel brand known for its “hometown hospitality” with more than 500 locations across North America, is launching a nationwide search to find its second-ever “Baymont Buddy of the Year.”

One well-trained, photogenic pup will be named the brand’s official pet ambassador, landing a starring role in Baymont’s upcoming digital marketing campaign. In return, the lucky pup’s parents will receive tail-wagging perks including $5,000, a two-night hotel stay for the campaign photo shoot, $5,000 travel stipend and upgrade to Wyndham Rewards® Diamond status.

Following Baymont’s first Buddy of the Year, Frankie, a micro-mini goldendoodle from Northern Virginia, the search for the brands next pup-bassador comes as more and more travelers bring their pets with them on the road and 97% of U.S. pet owners consider their pets part of the family.

“For many of our guests, family vacations just wouldn’t be complete without their four-legged family members, which is why we’re recognizing one special dog who exemplifies what it means to be the ultimate travel companion,” said Greg Giordano, brand leader and vice president of Operations, Baymont by Wyndham. “With hundreds of pet-friendly hotels, Baymont’s signature hometown hospitality embraces the joy and companionship of travel, especially with our furry friends.”

Owners and their dogs are required to attend a one-day photoshoot in Albuquerque, NM, or another location to be determined by Baymont. In addition to $5,000, the owner will receive a $5,000 travel stipend and two-paid nights at a Baymont hotel. The photoshoot will take place on a mutually agreed upon date between November 2023 and February 2024.

Think your pup has what it takes to be Baymont’s su-paw-star? Starting today, owners can submit their pup’s most bark-worthy photo at www.baymontinns.com/buddy. Along with a photo submission, applicants must share a brief description in 250 words or less detailing why their dog is the best candidate to be the Baymont’s 2023 ambassador. Preference will be given to dogs who are formally trained with an ability to play to the camera. Submissions will be accepted until 11:59 PM ET on September 19, 2023. The winning candidate will be selected on or about October 17, 2023.

With locations across North America, Baymont is committed to making travel easy for the entire family. The Baymont Welcome Buddy program onsite at select Baymont hotels provides a water bowl and dog treats upon arrival, so travel companions have everything they need to settle in for a great stay. Pet-friendly hotels, along with their policies, are easily searchable on www.BaymontInns.com. For more information on Baymont Buddy of the Year, including official rules, visit www.baymontinns.com/buddy.

About Baymont by Wyndham
Good, old-fashioned service never goes out of style, and it’s a stand-out staple at Baymont by Wyndham’s more than 500 midscale hotels throughout North America. Baymont’s signature “hometown hospitality,” which offers guest-centric comforts like friendly service with a smile, fresh chocolate chip cookies at check-in, and free breakfast at every Baymont Breakfast Corner®, is a driving force behind the brand’s stake as one of the fastest growing names in the U.S. midscale business. For more information, visit www.baymontinns.com. Like us on Facebook and follow us on Twitter. 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 9,100 hotels across over 95 countries on six continents. Through its network of approximately 852,000 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 24 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 over 103 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 Earner Card named No. 1 travel and hotel credit card for fifth consecutive year

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PARSIPPANY, N.J. (August 14, 2023) – Wyndham Rewards®, the world’s most generous rewards program spanning more than 50,000 hotels, vacation club resorts and vacation rentals globally, today announced it has been named the best hotel loyalty program in the USA Today 10Best Readers’ Choice Awards for the sixth consecutive year, while the Wyndham Rewards Earner® Card has been named the best travel and hotel credit card for a fifth consecutive year.

The rankings mark yet another number one win for Wyndham Rewards this year, which recently earned the top spot from both U.S. News & World Report and WalletHub in their most recent loyalty program rankings. Nominees in the USA TODAY 10Best Readers’ Choice Awards are compiled by a panel of industry experts, and winners are chosen based on daily voting from USA TODAY readers over a period of four weeks.

“No other hotel rewards program is as simple, generous and offers more redemption options than Wyndham Rewards,” said Dana Rosenberg, SVP of marketing, Wyndham Hotels & Resorts. “Year after year, our program gets stronger and stronger – driven directly by the loyalty of our more than 100 million enrolled members, dedicated franchisees and strategic partners, who helped make this win possible.”

With over 103 million enrolled members, nearly one in every two check-ins in the U.S. are Wyndham Rewards members. Wyndham Rewards is the only hotel loyalty program where 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. 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.

Wyndham Rewards’ suite of credit cards includes 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 cards 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. Interested members can learn more at www.wyndhamrewardscreditcard.com.

To learn more about Wyndham Rewards, or to join for free, visit www.wyndhamrewards.com. For more information about the USA TODAY 10Best Readers’ Choice Awards, visit www.10best.com.

About Wyndham Rewards
Named the number one hotel rewards program by both USA TODAY and US News & World Report, Wyndham Rewards® is the world’s most generous rewards program with more than 50,000 hotels, vacation club resorts and vacation rentals worldwide. Designed for the everyday traveler, members earn a guaranteed 1,000 points with every qualified stay and may redeem points for a wide range of rewards, including free nights at any of approximately 9,100 hotels or tens of thousands of vacation club resorts and vacation rentals globally through affiliation with Wyndham Destinations and others. Wyndham Rewards has over 103 million enrolled members around the globe. Join for free today at www.wyndhamrewards.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 9,100 hotels across over 95 countries on six continents.  Through its network of approximately 852,000 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 24 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 over 103 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.