Company Grows Development Pipeline by 10% and Global RevPAR by 7% Successfully Completes Refinancing Transaction Board Increases Share Repurchase Authorization by $400 Million
PARSIPPANY, N.J. (July 26, 2023) – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended June 30, 2023. Highlights include:
Global RevPAR grew 7% compared to second quarter 2022 in constant currency.
System-wide rooms grew 4% year-over-year.
Development pipeline grew 1% sequentially and 10% year-over-year.
Signings of 24,000 rooms grew 6% year-over-year and 7% compared to 2019.
Awarded 60 new construction projects for ECHO Suites Extended Stay by Wyndham in July, including its first hotels in Canada, bringing the total number of contracts to 265.
Returned $139 million to shareholders through $109 million of share repurchases and a quarterly cash dividend of $0.35 per share.
Successfully completed the refinancing of its Term Loan B Facility, extending maturity from 2025 to 2030.
“During the second quarter, we celebrated the tremendous progress we’ve made in our five-year journey as a new public company with another quarter of solid results including global RevPAR growth of 7%, net room growth of 4% and the 12th consecutive quarter of sequential growth in our development pipeline, which has never been stronger,” said Geoff Ballotti, president and chief executive officer. “International travel demand continues to accelerate, our U.S. economy brands continue to outperform the industry and our nation’s infrastructure bill spend is expected to represent a meaningful tailwind for our franchisees in the months and years ahead. We remain very confident in our ability to deliver outstanding value for our franchisees and shareholders, as does our Board of Directors who today approved a $400 million increase in our share repurchase authorization, reflecting their confidence in the ongoing strength of our business and our strong free cash flow.”
Second Quarter Financial Results
The comparability of the Company’s second quarter results is impacted by the sale of its owned hotels and the exit of its select-service management business, both of which occurred in 2022, as well as quarterly timing variances from its marketing funds. The Company’s reported results and comparable-basis results (adjusted to neutralize these impacts) are presented below to enhance transparency and provide a better understanding of the results of the Company’s ongoing operations:
Fee-related and other revenues was $358 million compared to $354 million in second quarter 2022, which included $12 million from the Company’s select-service management business and owned hotels. On a comparable basis, fee-related and other revenues increased 5% year-over-year primarily reflecting higher royalties and franchise fees resulting from global RevPAR and system growth.
The Company generated net income of $70 million, or $0.82 per diluted share, compared to $92 million, or $1.00 per diluted share, in second quarter 2022. The decline in net income was expected and reflective of the marketing fund variability, higher interest expense and transaction-related costs primarily related to the Company’s refinancing of its Term Loan B Facility. On a comparable basis, adjusted diluted earnings per share grew 10% reflecting 8% growth in comparable basis adjusted EBITDA and a lower share count due to share repurchase activity.
Adjusted EBITDA was $158 million compared to $175 million in second quarter 2022. On a comparable basis, adjusted EBITDA increased 8% year-over-year primarily reflecting higher fee-related and other revenues.
During second quarter 2023, the Company’s marketing fund expenses exceeded revenues by $15 million; while in second quarter 2022, the Company’s marketing fund revenues exceeded expenses by $12 million, resulting in $27 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.
System Size
The Company’s global system grew 4%, reflecting 1% growth in the U.S. and 9% 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 13%, respectively, as well as 80 basis points of growth globally and 200 basis points internationally from the acquisition of the Vienna House brand. The Company remains solidly on track to achieve its net room growth outlook of 2 to 4% for the full year 2023, including an increase in its retention rate compared to 2022.
RevPAR
Second quarter global RevPAR grew by 7% in constant currency compared to 2022 reflecting a 1% decline in the U.S. and growth of 34% 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 these impacts, U.S. RevPAR grew 8%, a 30 basis point acceleration from first quarter 2023 growth. The international RevPAR growth was driven equally by stronger pricing power and higher occupancy levels.
Development
On June 30, 2023, the Company’s global development pipeline consisted of nearly 1,850 hotels and approximately 228,000 rooms, representing a 10% year-over-year increase, including 22% growth in the U.S.
Approximately 72% of the Company’s pipeline is in the midscale and above segments.
Approximately 57% of the Company’s development pipeline is international.
Approximately 81% of the Company’s pipeline is new construction, of which approximately 35% has broken ground.
During second quarter 2023, the Company awarded 179 new contracts for its legacy brands, an increase of 8% year-over-year. In July, the Company awarded 60 additional new contracts for its ECHO Suites Extended Stay by Wyndham brand to established and experienced developers, including what will be the brand’s first hotels in Canada. This brings the total number of contracts awarded for the brand to 265 since its launch, or nearly 33,000 rooms.
Cash and Liquidity
The Company generated net cash provided by operating activities of $83 million and free cash flow of $74 million in second quarter 2023. The Company ended the quarter with a cash balance of $63 million and approximately $800 million in total liquidity.
In May 2023, the Company successfully amended and extended its outstanding Senior Secured Term Loan B Facility (“Prior Term Loan B”), which was due May 2025. The new $1.1 billion Senior Secured Term Loan B Facility (“New Term Loan B”) matures in May 2030 and carries an interest rate of SOFR plus 2.25% (with a 0.10% credit spread adjustment). The net proceeds from the New Term Loan B were used to repay all outstanding principal under the Company’s Prior Term Loan B.
As a result of this transaction, the Company moved its next material debt maturity to 2027 and increased its weighted average maturity from 3.2 to 6.0 years, providing significant financial flexibility to execute on the Company’s strategic objectives of delivering outstanding value to its guests and franchisees while driving strong shareholder return.
Share Repurchases and Dividends
During the second quarter, the Company repurchased approximately 1.6 million shares of its common stock for $109 million at an average price of $68.56 per share. Year-to-date through June 30, the Company repurchased approximately 2.4 million shares of its common stock for $165 million at an average price of $69.20 per share. The Company’s Board of Directors recently increased the Company’s share repurchase authorization by $400 million.
The Company paid common stock dividends of $30 million, or $0.35 per share.
Full-Year 2023 Outlook
The Company is refining its outlook as follows:
The reduction in adjusted net income represents an increase in interest expense due, in part, to the refinancing of the Company’s Term Loan B. This impact was offset in adjusted diluted EPS by second 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 $29 million in the second half of 2023 with approximately $10 million to $15 million per 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, July 27, 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 800 267-6316 and providing the passcode “Wyndham”. Listeners are urged to call at least five minutes prior to the scheduled start time. An archive of this webcast will be available on the website beginning at noon ET on July 27, 2023. A telephone replay will be available for approximately ten days beginning at noon ET on July 27, 2023 at 800 839-5124.
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 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. 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.
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.
New multi-unit deals with established developers expand ECHO Suites’ presence in Alabama, Iowa, Nebraska and South Dakota while launching the brand in Canada
PARSIPPANY, N.J. (July 25, 2023) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels across more than 95 countries, today announced 60 new hotels for its rapidly expanding ECHO SuitesSM Extended Stay by Wyndham brand, including what will be the brand’s first hotels in Canada.
Continuing Wyndham’s long-term strategy of signing multi-unit deals with established and experienced developers—one of the latest being MasterBUILT Hotels, which to-date has developed more than two dozen Microtel by Wyndham® hotels across Canada—the additions grow the brand’s global pipeline to 265 hotels and approximately 33,000 rooms.
“Since announcing ECHO Suites last year, we’ve seen unprecedented interest from among the industry’s most-successful extended stay developers, helping make ECHO the fastest-growing brand launch of 2022,” said Chip Ohlsson, chief development officer, Wyndham Hotels & Resorts. “Adding MasterBUILT—one of Canada’s premier hotel development companies—to that growing list speaks to the quality of the ECHO prototype and its highly efficient, ROI-driven design, which offers among the most rentable square-footage in the industry.”
Canadian Success Story One of Canada’s fastest growing hotel development and investment companies, MasterBUILT Hotels was founded in 2011 and has tremendous expertise in site evaluation, project design and project management—having constructed over two dozen Microtel by Wyndham hotels spanning all 10 provinces, with additional hotels currently under development.
“The success Wyndham is seeing with ECHO is not by chance—it’s a testament to the care that was put into designing the brand,” said David Donaldson, president and CEO, MasterBUILT Hotels. “From day one, Wyndham made a point of seeking the input of experienced developers and then actioning on their insights. The result is a brand that resonates as strongly with hotel developers as it will with guests. While other brands have since tried to tap into and mirror ECHO Suites’ success—Wyndham, with its unmatched scale, owner-first approach and industry-leading support—continues to lead the pack.”
Unprecedented Growth With the addition of MasterBUILT Hotels, ECHO Suites Extended Stay by Wyndham now has a pipeline of 265 hotels across the U.S. and Canada, making it one of the largest of any extended stay hotel brand. Multiple projects have already broken ground and are in various stages of construction across Virginia, Texas and South Carolina, with over a dozen more slated to break ground in the months ahead. The Company expects to have 100 hotels open over five years, with the brand’s first locations beginning to make a meaningful contribution to Wyndham’s overall portfolio in 2024.
The purpose-built, all new-construction, 124-room ECHO Suites prototype requires under two acres of land and has a highly competitive cost per key. Coming in at approximately 50,000 square-feet, individual rooms average 300 square-feet. The rooms consist of single- and two-queen studio suites with kitchens as well as efficiently-designed public spaces—a lobby, fitness center and 24/7 guest laundry—that help to limit labor needs.
For more information on ECHO Suites Extended Stay by Wyndham, including development opportunities, visit www.wyndhamdevelopment.com.
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About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,100 hotels across over 95 countries on six continents. Through its network of approximately 845,000 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 101 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 the federal securities laws, including statements related to the Company’s current views and expectations related to rooms growth, development, consumer demand trends, technology offerings and programs. 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 continuation or 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 and property owners, 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 and property owners; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflict between Russia and Ukraine; risks related to restructuring or strategic initiatives; 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.
The BOLD Symposium and Bootcamp offer an immersive look at hotel ownership and
networking at industry’s premier Black ownership and investment conference
PARSIPPANY, N.J. (July 18, 2023) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels in over 95 countries, is hosting its second BOLD Symposium ahead of the official start of the 2023 National Association of Black Hotel Owners, Operators & Developers (NABHOOD) Hotel Ownership & Investment Summit, followed by a BOLD Bootcamp, a part of its BOLD Incubator, later in the week. The events are part of Wyndham’s commitment to furthering diversity in hospitality, focused on providing tools and resources to Black entrepreneurs who are exploring the industry and qualified individuals looking to accelerate their path to hotel ownership.
Just over a year since Black Owners and Lodging Developers (BOLD) debuted, Wyndham has awarded 25 hotel deals to Black owners. In an industry where less than two percent of owners are Black, according to 2022 data from NABHOOD, BOLD by Wyndham was created to engage and advance Black hoteliers by addressing the unique challenges faced by Black entrepreneurs. Last month, Wyndham appointed Galen Barrett to vice president, Strategic Franchise Initiatives. With nearly a decade of experience at the organization, Barrett played an integral part in the initial launch of BOLD by Wyndham in his previous role as vice president, Strategic Development. In his new, concentrated position, Barrett will now exclusively focus on the advancement of both BOLD and Wyndham’s first-of-its-kind Women Own the Room.
Accelerating the Path to Ownership Delivering on BOLD by Wyndham’s pillar of accelerating the path to hotel ownership, BOLD by Wyndham focuses on creating and fostering a community of supporters for Black owners in hospitality. The BOLD Symposium, which takes place later today, will include an introduction to BOLD by Wyndham, an in-depth view of getting started in hotel ownership, step-by-step tips to help secure a deal and small group roundtable discussions on topics meant to give attendees tools and information to start and continue down their path to ownership. Attendees will also have the chance to network with industry experts who can advise on all aspects of hospitality.
“With our second BOLD Symposium, our goal is to enhance representation of the Black community in our industry by equipping aspiring hoteliers with tools to succeed,” said Barrett. “We seek to help today’s owners, and ensure our industry is welcoming for future generations – where Black youth see others like them succeeding in this business – that’s where BOLD can make a difference long-term.”
Later this week, Wyndham is also hosting select individuals at the BOLD Bootcamp, an event which is part of its BOLD Incubator initiative for qualified candidates with relevant business experience to accelerate their pursuit of hotel ownership. The bootcamp experience will take place at the MB Hotel, Trademark Collection by Wyndham in Miami Beach on Thursday, July 20, and offer an in-depth view of owning and operating a hotel. The evening will include a behind-the-scenes look at hotel ownership and management, from back-of-house operations to tips on building the right team and decisions that will help maximize owner profitability and bottom line. This group will also have one-on-one access to Wyndham executives and team members who will share years of industry expertise that support their endeavour to successful ownership.
To learn more about BOLD by Wyndham, including details on upcoming events, visit www.boldbywyndham.com. For additional details on franchising opportunities with Wyndham Hotels & Resorts, 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 845,000 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 101 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.
Summer's most coveted family travel gig is back with a $15,000 payday, endless funnel cake, and more
PARSIPPANY, N.J. (July 11, 2023) – Outrageously delicious food, hog-calling contests, carnival games, and endless activities – summertime officially marks the return of the Midwest’s iconic state fairs, bringing on smiles, laughter, and full stomachs for families across the Heartland. To celebrate an iconic summer staple, AmericInn by Wyndham – the family-friendly hotel brand recognized as America’s welcoming neighbor – is back offering this summer’s best gig: State Fair Family. The hotel brand seeks one adventurous family to travel across the Midwest in search of the best each state fair has to offer. Best of all, the job comes with a $15,000 payday.
From Iowa to Illinois, state fairs have played a fundamental role in United States culture for over a century with a knack for captivating people of all ages. AmericInn’s second annual State Fair Family will have the enviable task of soaking it all in, visiting three iconic state fairs over the course of a week and sharing their pro tips and tricks along the way via social media. In exchange for the family’s hard work of sampling finger-licking powdered sugar covered confections and stomaching swirling, adrenaline-inducing rides, the winning family will be provided with hotel arrangements including a $10,000 travel stipend and $5,000 cash. The family will also score a suitcase packed to the brim with AmericInn swag, an upgrade to Wyndham Rewards® Diamond membership, and lasting memories for a lifetime.
“Just like it’s all about family-friendly fun at the fairground, guests count on AmericInn hotels to connect them to memorable experiences across the heartland and beyond,” said Clem Bence, vice president and brand leader, AmericInn by Wyndham. “Alongside the good old-fashioned hospitality and modern comforts at our hotels, the lucky State Fair Family will fully immerse themselves in the best of the Midwest’s iconic state fairs, all while captivating an audience on social media with their memorable adventures along the way.”
Now through July 25, families looking for a once-in-a-lifetime opportunity can showcase their state fair love by submitting a written or video application via [email protected] or by visiting www.americinn.com/fairfamily. Submissions should demonstrate what makes each family the ideal candidates for the role, while showcasing family flair and social-media savviness.
About the Role: This dream job entails road tripping with your family to some of America’s most iconic state fairs and creating lasting memories through captured moments on social media. Your family’s creative content and experiences will be featured on the AmericInn brand website and social media channels.
Responsibilities:
Attend three separate Midwest state fairs over the course of one-week, on or about August 10 – August 18, 2023
Document your adventures in real-time with unique photo and video content
Contribute to the future AmericInn “Best of the Midwest Fair Guide”
Inspire others by sharing your experiences on your social media channels
Qualifications:
A social media-savvy family with active social media accounts (TikTok and Instagram preferred)
Parents or guardians must be at least 21 years old
S. resident with a valid federal or state-issued ID and ability to drive to select locations
Families must be available to travel on or about August 10 – August 18, 2023
Core memories from the most epic summer vacation ever
How to Apply:
Visit http://www.americinn.com/fairfamily or email [email protected] by July 25, 2023 to submit a 300-word minimum written entry and family photo or a 60-second or shorter video describing what makes your family the ideal candidate for the job. Families should also provide [the] handles to any public and active social media accounts. Video submissions are highly encouraged to help assess applicants’ storytelling skills and social savviness before selecting the winning family.
Applications must be submitted by adults 21 years and older and the entrant must have consent for all parties in the video. Families must be available to travel domestically in August 2023. Entries must comply with official rules.
AmericInn will select the winning family on or about the week of August 2, 2023. No purchase is necessary to enter. Approximate retail value of the award package is $16,500. For more information, including official rules, visit www.americinn.com/fairfamily.
About AmericInn by Wyndham AmericInn by Wyndham prides itself on delivering quality stays and genuine, neighborly service at more than 200 locations across the United States. Contemporary curb appeal, consistency and guest satisfaction are the brand’s specialties, providing a warm retreat complete with hot breakfast, high-speed Wi-Fi, and warm java on the house. For more information, visit www.americinn.com, and like AmericInn on Facebook.
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 845,000 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 101 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.
Super 8, the stylish economy brand known for its roadside hotels, expanding
global footprint with upcoming opening of Super 8 by Wyndham Chester East
LONDON, (July 10, 2023) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels spanning more than 95 countries and Roadchef, one of the UK’s leading motorway service area operators welcoming 52 million visitors each year, today announced the upcoming opening of Super 8 by Wyndham Chester East, the brand’s first entry in the UK.
For nearly 50 years, Super 8 by Wyndham has been recognised as a trusted companion to roadside travellers. With nearly 2,700 hotels around the world—including the U.S., China, Dominican Republic, Indonesia, Germany, UAE, Saudi Arabia and soon in the UK—Super 8 is known for elevating the economy hotel experience, offering sleek accommodations and friendly service at an affordable price.
Expected to open this month following an extensive refurbishment project, the 41-room hotel is conveniently located just off the M56 motorway, serving road travellers around the Cheshire, Greater Manchester and North Wales areas of the UK. The refurbishment is part of a larger multi-million investment by Roadchef as it looks to upgrade its roadside hotels across the UK to better meet the needs of guests now and in the future.
Dimitris Manikis, President Europe, Middle East, Eurasia and Africaat Wyndham Hotels & Resorts said: “Today’s travellers want a quality experience but at an affordable price, which is exactly what Super 8 by Wyndham offers. It’s a brand that’s all about embracing the journey, helping guests rest up, refuel and tackle the open road ahead. For that reason, Roadchef—a company known for leveraging innovation placing convenience and comfort at the heart of their business—is the perfect partner to help us bring Super 8 by Wyndham to the UK.”
Dan Sutton, Head of Hotels at Roadchef, commented: “Our long-term vision is to transform the way people experience road travel and roadside hotels. Business and leisure travellers alike seek convenience, comfort, and affordability, and we believe hoteliers need to cater to these modern-day guests and their evolving expectations. Launching Super 8 by Wyndham in the UK is a step towards elevating and revolutionising the roadside hotel experience and we are proud to be a part of this transformation and continue to invest in delighting our guests.”
Convenience and Comfort for Every Guest Super 8 by Wyndham Chester East is expected to open this month following a major refurbishment project, which kicked off earlier this year. Influenced by the look and feel of new Super 8 hotels throughout North America and Europe with sleek furnishings and signature artwork, Roadchef conducted research on UK travellers’ preferences, which influenced the hotel’s design. Among the findings, respondents highlighted a strong desire for enhanced convenience, greater choice and flexibility of experience as well as a growing need for well-considered electric vehicle charging options to suit an overnight stay rather than a short high-powered ‘top up’ whilst mid-journey.
Super 8 by Wyndham Chester East will offer a variety of room types designed with comfort and noise-reduction in-mind, providing guests with a home-away-from-home experience. The hotel will offer a mix of contemporary rooms to easily suit families, groups, couples or individuals, as well as two-bedroom accommodations with lounge areas and king bedrooms, in addition to standard double, twin and king guest rooms. The hotel will also provide the latest in-room tech, a stylish bar and restaurant, as well as on-site EV charging facilities, allowing guests to charge their vehicles overnight at an inclusive, affordable price. Whether for a short stay, a business trip or weekend away with friends, Super 8 by Wyndham Chester East will be a reliable roadside companion to suit any traveller’s needs.
In line with both Roadchef’s and Wyndham’s commitments to protecting the environment, Super 8 by Wyndham Chester East will participate in the Wyndham Green Certification programme, Wyndham’s five-level certification framework and brand standard that helps hotels to improve their energy efficiency, reduce emissions, conserve water, and reduce waste whilst also helping owners’ bottom lines.
Super 8 by Wyndham Chester East is part of Wyndham Hotels & Resorts’ portfolio of over 65 hotels across the UK, all of which participate in Wyndham Rewards®, the award-winning hotel rewards programme offering approximately 101 million enrolled members the opportunity to redeem points at more than 50,000 hotels, vacation club resorts and vacation rentals around the world.
About Super 8 by Wyndham For more than four decades, Super 8® by Wyndham—one of the world’s largest economy hotel brands with nearly 2,700 hotels globally—has served as a trusted and convenient companion on the road. Today, we’re on a mission to elevate economy, modernizing the brand for the next generation of traveller with redesigned rooms and fast, free Wi-Fi. Learn more www.super8.com. Like us on Facebook and follow us on Instagram. See you on the Road.
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 845,000 rooms appealing to the everyday traveller, 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 programme offers approximately 101 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.
About Roadchef Roadchef is one of the UK’s leading motorway and trunk road service area operators. With 30 locations across the nation, including 17 hotels within a longstanding partnership with Wyndham Hotels & Resorts. Roadchef aims to provide a restful and relaxing environment for over 52 million visitors to its motorway service areas each year, employing over 3,000 people across its locations and boasting an outstanding employee retention record.
In 2023, it achieved Platinum level of the Investors in People (IIP) accreditation – the highest accolade that can be achieved against the Investors in People Standard, held by just 6% of the 50,000 IIP-accredited organisations across the world. It was also recently awarded a 2 Star Accreditation from the Best Companies employee engagement survey representing outstanding commitments to workplace engagement. Popular brands located at Roadchef include McDonald’s, Costa, LEON, WHSmith, SPAR, Chozen Noodle, Coco di Mama, Days Inn by Wyndham and Super 8 by Wyndham. In addition, Roadchef’s own branded offerings include Garden Square Deli and Fresh Food Café.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements related to Wyndham Hotels & Resorts, Inc.’s (the “Company”) current views and expectations related to rooms growth, development and consumer demand trends. 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.
Number one hotel rewards program teams with The Bachelorette’s Jason Tartick,
launching golf’s newest must-have amenity at select resorts coast-to-coast
PARSIPPANY, N.J. (JUNE 21, 2023) – Anyone for a round of golf? With flexible work arrangements on the rise, people are redefining where, when and how they do their best work. Free from eight-hour days in the office, schedules now bend and flex, creating new opportunities to balance work with play. Enter the Wyndham Rewards® Cubicle Caddie, a first-of-its kind tricked out golf cart helping avid golfers worry less about being away from their desk this summer and more about missing par.
Caddies are known for being the ultimate wingmen in the game of golf, helping players unlock their full potential while always having their back in tricky and unexpected situations. The Wyndham Rewards Cubicle Caddie does the same, providing golfers with the tools they need to knock out that unavoidable Zoom call before effortlessly returning their focus to the game. With a retractable green screen, detachable desk, 5G Wi-Fi hotspot, noise cancelling headphones, wrinkle-free blazer and more—there’s no better office-on-the-go. The Cubicle Caddie even comes with a built-in escape button —think a barking dog, crying baby or an interrupting co-worker— that golfers can trigger with just one press, letting colleagues know it’s time to wrap the call.
The Wyndham Rewards Cubicle Caddie comes at a time when weekday afternoon golf is on the rise—a recent Stanford study showed a 278% increase in Wednesday afternoon play last year vs. 2019—and is endorsed by avid golfer and entrepreneur Jason Tartick. Best known for his popular business podcast, ‘Trading Secrets’ and bringing his Buffalo charm to the Bachelor franchise, Tartick offers pointers for mixing work and play successfully.
“Don’t think of it as blowing off work—think of it as blowing off steam so you can focus on the day’s to-do list feeling refreshed and recharged,” said Tartick. “As a veteran corporate banker and entertainment personality, I know balancing business and pleasure has always been par for the course. That’s the beauty of The Wyndham Rewards Cubicle Caddie. Whether you’re waiting to tee off or just coming through the turn, it makes the switch from play to work and back again easier than ever before. It’s a hole-in-one.”
“We know our members are spending less time in the office and more time working from unconventional places and so, the Cubicle Caddie was born,” said Dana Rosenberg, SVP Marketing, Wyndham Hotels & Resorts. “Golf is a much-needed escape for so many and now, thanks to the Cubicle Caddie, our members can take advantage of that escape without worrying about what to do should the office come calling. Best of all, at no extra cost to use, it’s just one more way Wyndham is rewarding members this summer.”
The Wyndham Rewards Cubicle Caddie is available at select golf courses this summer, just ahead of the 2023 Wyndham Championship. Participating hotels and resorts—all of which are part of Wyndham’s newly launched Golf Collection—are:
Cheyenne Mountain Resort, A Dolce by Wyndham (Colorado Springs, CO)
Grandover Resort & Spa, a Wyndham Grand Hotel (Greensboro, NC)
Club Wyndham Orange Tree Resort (Scottsdale, AZ)
Club Wyndham Palm-Aire (Pompano Beach, FL)
Wyndham Grand Rio Mar Puerto Rico Golf & Beach Resort (Rio Grande, PR)
Wyndham Hotels & Resorts’ Golf Collection encompasses more than 40 hotels and resorts situated on some of the most picturesque and pristine greens around the world and is the perfect complement to the Company’s growing portfolio of all-inclusive, lifestyle, upscale and luxury offerings around the globe. Through September 30, 2023, Wyndham Rewards members can take advantage of special savings on two-night, three-day stay packages for two, complete with complimentary rounds of golf, range buckets and breakfast at select Golf Collection properties.
The Cubicle Caddie hits the green starting today and is available upon request when booking a tee time and renting a golf cart, at no extra cost to Wyndham Rewards members. For more information, including terms and conditions on the above promotion, visit www.wyndhamrewards.com/caddie.
About Wyndham Rewards Named the number one hotel rewards program by readers of USA TODAY, Wyndham Rewards® is the world’s most generous hotel 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 range of rewards, including free nights at 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 approximately 101 million enrolled members around the globe. Join for free today at www.wyndhamrewards.com. You’ve earned this.®
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,100 hotels across over 95 countries on six continents. Through its network of approximately 845,000 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 101 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.
About the Wyndham Championship
Contested annually on the Donald Ross-designed course at Sedgefield Country Club in Greensboro, N.C., the Wyndham Championship was founded in 1938 and is the seventh-oldest event on the PGA TOUR excluding the Majors. The tournament thanks title sponsor Wyndham Rewards and presenting sponsor Truist for their continued support. Additional tournament information is available at www.wyndhamchampionship.com and the tournament’s social media channels, including the Wyndham Championship Facebook page, Twitter and Instagram.
World’s sunniest hotel brand debuts limited-time amenity in time for the busy summer travel season, offers hotel guests compliments at the push of a button
PARSIPPANY, N.J. – (May 16, 2023) – A great compliment is like a ray of sunshine—it brightens your day. That’s why Days Inn® by Wyndham, the iconic hotel brand known for making days brighter, is launching its newest limited-edition “complimentary” amenity: an in-room mirror that gives compliments at the push of a button. Voiced by beloved television personality, host, and producer, Ross Mathews, it might just be the world’s most flattering mirror.
Adored for his signature style and best known for his wit and charm as co-host of The Drew Barrymore Show, as well as judge and producer of RuPaul’s Drag Race, Mathews teamed up with Days Inn to deliver undeniably funny, morale-boosting messages sure to make anyone smile. From praising guests for just how much they light up the room to admiring their signature style, each pre-recorded message is designed to ready guests to head out and Seize the Days®.
“Making people smile is engrained in my DNA, which is why this project is such a perfect fit,” said Mathews. “Everyone deserves to feel their best, no matter who they are or where they’re going, and I can’t think of a better solution than having your own hotel room equipped with a personal cheerleader. It’s the perfect morning pick-me-up as travelers head out to seize the day.”
The mirror, available at select Days Inn hotels across the U.S. and Canada, is the second iteration of the sunny hotel brand’s line of “complimentary” amenities. Last summer, Days Inn introduced what it coined “the world’s nicest pillow” – a pillow that dished out cheeky compliments, helping guests start their day with a smile.
“At Days Inn, we are in the business of making days brighter and we know this mirror will bring guests an extra dose of sunshine,” said John Henderson, president and brand leader, Days Inn by Wyndham. “Whether it’s getting guests excited before a beach day or fun at the theme park, our complimentary mirror complements the friendly service and amenities guests already count on – like a great night’s sleep, complimentary light breakfast, free Wi-Fi, fitness center or swimming pool.”
The Days Inn Complimentary Mirror is available at the following select cities and locations across the U.S. and Canada starting May 22, 2023, and will remain available through June 30, 2023.
Albuquerque, NM – Days Inn by Wyndham Albuquerque North
Brunswick, ME – Days Inn Brunswick Bath Area
Calgary, AB – Days Inn by Wyndham Calgary North Balzac
Chattanooga, TN – Hotel Bo, a Days Inn by Wyndham
Houston, TX – Days Inn by Wyndham University of Houston
Little Rock, AR – Days Inn by Wyndham Lonoke
Minneapolis, MN – Days Inn by Wyndham University Ave SE
Madison, WI – Days Inn & Suites by Wyndham Madison
Niagara Falls, ON – Days Inn & Suites by Wyndham Niagara Falls Centre Street by The Falls
Ocean City, MD – Days Inn by Wyndham Ocean City Ocean
Paris, TX – Days Inn by Wyndham Paris
Pensacola, FL – Days Inn by Wyndham Pensacola – Historic Downtown
Panama City, FL – Days Inn by Wyndham Panama City Beach/Ocean Front
San Diego, CA – Days Inn by Wyndham San Diego Hotel Circle
Saskatoon, SK – Days Inn by Wyndham Saskatoon
Up to five complimentary mirrors will be available at each participating hotel. Mirrors are available at no extra cost and will be available in select rooms upon request. For more information and to book a stay, visit www.daysinn.com/mirror.
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, Twitter 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 9,100 hotels across over 95 countries on six continents. Through its network of approximately 843,000 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 more than 100 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 Grows Development Pipeline by 11% and Global RevPAR by 12%; Raises Full-Year 2023 Outlook
PARSIPPANY, N.J., April 26, 2023 – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended March 31, 2023. Highlights include:
Global RevPAR grew 12% compared to first quarter 2022 in constant currency.
S. RevPAR grew 4% compared to first quarter 2022.
System-wide rooms grew 4% year-over-year, including 1% of growth in the U.S. and 9% of growth internationally.
Development pipeline grew 11% year-over-year to 226,000 rooms, and signings increased 7%, excluding ECHO Suites Extended Stay by Wyndham.
Awarded 35 new construction projects for ECHO Suites Extended Stay by Wyndham, bringing the total number to 205 since launch in March 2022.
Returned $87 million to shareholders through $56 million of share repurchases and a quarterly cash dividend of $0.35 per share.
Company raises full-year 2023 outlook.
“Our impressive first quarter results demonstrate continued momentum with global RevPAR growth of 12%, net room growth of 4% and the 11th consecutive quarter of sequential growth in our development pipeline,” said Geoffrey A. Ballotti, president and chief executive officer. “We outperformed our adjusted EBITDA expectations, leading us to raise our full-year outlook as a result. With our seasonally strongest summer season on the horizon and no signs of slowdown in our middle-income guests’ desire to spend on travel, we’re enthusiastic about the opportunities that lie ahead and our ability to deliver outstanding value to our shareholders, guests, franchisees and team members.”
First Quarter Financial Results
The comparability of the Company’s first quarter results is impacted by the sale of its owned hotels and the exit of its select-service management business, both of which occurred in 2022, as well as quarterly timing variances from its marketing funds. The Company’s reported results and comparable-basis results (adjusted to neutralize these impacts) are presented below to enhance transparency and provide a better understanding of the results of the Company’s ongoing operations:
Note: Growth rates may not recalculate due to rounding; see Table 7 for a reconciliation of non-GAAP metrics.
(a) Includes estimated tax impact for the select-service management business, owned assets and marketing fund variability.
Fee-related and other revenues was $308 million compared to $316 million in first quarter 2022, which included $38 million from the Company’s select-service management business and owned hotels. On a comparable basis, fee-related and other revenues increased 11% year-over-year primarily reflecting global RevPAR growth of 9%, higher franchise fees and incremental license fees.
The Company generated net income of $67 million, or $0.77 per diluted share, compared to $106 million, or $1.14 per diluted share, in first quarter 2022. The decline in net income was primarily due to the sale of the Company’s owned hotels and the exit of its select-service management business, partially offset by higher adjusted EBITDA in the Company’s hotel franchising segment.
Adjusted EBITDA was $147 million compared to $159 million in first quarter 2022, which included a $15 million contribution from the Company’s select-service management business and owned hotels. On a comparable basis – which excludes the marketing fund variability – adjusted EBITDA increased 10% year-over-year reflecting higher fee-related and other revenues.
During first quarter 2023, the Company’s marketing fund expenses exceeded revenues by $4 million; while in first quarter 2022, the Company’s marketing fund revenues exceeded expenses by $7 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 4%, reflecting 1% growth in the U.S. and 9% 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 10%, respectively, as well as 80 basis points of growth globally and 200 basis points internationally from the acquisition of the Vienna House brand. The Company remains solidly on track to achieve its net room growth outlook of 2 to 4% for the full year 2023, including an increase in its retention rate compared to 2022.
RevPAR
First quarter global RevPAR grew by 12% in constant currency compared to 2022 as the U.S. grew 4% and international grew 37%. Approximately two-thirds of this increase is driven by stronger pricing power, while the remainder is driven by higher occupancy levels.
Development
On March 31, 2023, the Company’s global development pipeline consisted of approximately 1,800 hotels and 226,000 rooms, representing an 11% year-over-year increase, including 28% growth in the U.S.
Approximately 72% of the Company’s pipeline is in the midscale and above segments.
Approximately 57% of the Company’s development pipeline is international and 80% is new construction, of which approximately 35% has broken ground.
During first quarter 2023, the Company awarded 123 new contracts for its legacy brands, an increase of 7% year-over-year, and 35 new contracts for its ECHO Suites Extended Stay by Wyndham brand, bringing the total number of contracts awarded for the brand to 205 since its launch. The pipeline includes over 25,000 rooms associated with the Company’s ECHO brand.
Cash and Liquidity
The Company generated net cash provided by operating activities of $93 million and free cash flow of $84 million in first quarter 2023. The Company ended the quarter with a cash balance of $150 million and approximately $890 million in total liquidity.
Share Repurchases and Dividends
During the first quarter, the Company repurchased approximately 790,200 shares of its common stock for $56 million.
The Company paid common stock dividends of $31 million, or $0.35 per share.
Full-Year 2023 Outlook
The Company is increasing its outlook as follows:
(a) Outlook represents global RevPAR growth of 6% to 8% compared to 2019.
(b) Represents the percentage of adjusted EBITDA that is expected to produce free cash flow.
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.
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, April 27, 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 800 267-6316 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 April 27, 2023. A telephone replay will be available for approximately ten days beginning at noon ET on April 27, 2023 at 800 695-0395.
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 845,000 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 101 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 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.
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.
Innovative program, now available to all U.S. Days Inn, Ramada and Microtel franchisees,
helps hotels save tens of thousands of dollars compared to traditional renovation programs
PARSIPPANY, N.J., (April 11, 2023) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels spanning more than 95 countries, today announced the expansion of its Manufacturer Direct program. First launched in 2022 for Days Inn® by Wyndham, the program—now available to Ramada® by Wyndham and Microtel® by Wyndham franchisees—helps hotels undergoing renovations save an average of 20 percent or more in cost versus traditional renovation programs.
Built on the pillars of driving greater transparency, value creation and owner engagement throughout the renovation process, Wyndham’s Manufacturer Direct program enables owners to take a hands-on approach to renovations, giving full line of sight into costs and lead times while unlocking substantial savings.
“We take an owner first approach to franchising, and our Manufacturer Direct program delivers on greater transparency and higher savings in the renovation process, particularly for franchisees who want to be more hands-on and don’t require the support and services of our more traditional offerings,” said David Kellam, vice president Design and Construction, Wyndham Hotels & Resorts. “By enabling hotels to order everything directly and serve as their own project manager, we’re helping them unlock substantial cost-savings—as much as $50,000 on a 90-room Days Inn renovation—all while delivering an updated, high-quality, modern guest experience that aligns with Wyndham brand standards.”
Franchisees opting to take advantage of Wyndham’s Manufacturer Direct program connect with pre-approved vendors so they can manage all aspects of their own renovation. By overseeing the process and fulfilling the role of a more traditional project manager, including placing orders, handling installations and tracking timelines, franchisees remove many of the elements that can drive up costs for renovations.
Elevated Designs, Transparent Savings Wyndham’s Manufacturer Direct program makes it easy for franchisees to adopt the latest brand designs while helping ensure compliance with Wyndham brand standards. Among the room packages currently available:
Days Inn by Wyndham – Dawn Helping Days Inn make every day brighter for its guests, the Dawn room design takes its inspiration from the sun featuring bright and airy rooms with signature, sun-centric art of local landscapes and attractions. Furniture and fixtures are light and modern, emphasize in-room connectivity and feature vibrant pops of yellow throughout. Franchisees interested in seeing how Dawn will look in one of their existing rooms can generate a preview by uploading a photo to Wyndham’s new AI-driven Hotel Room RestylerSM, available here. A full Dawn room package through Wyndham’s Manufacturer Direct program costs approximately $2,400 per key for all furniture, fixtures and soft goods, with packages available in single king and double queen configurations. Since launch, hundreds of hotels have taken advantage of the program, resulting in millions of dollars in renovations.
Ramada by Wyndham – Ruby Anchored by Ramada’s commitment to helping guest sample the world, the Ruby room design is a modern and elevated re-imagination of one of the world’s most globally recognized brands. Featuring sleek bedding, dark woods, and thoughtfully placed notes of red, rooms help to immerse guests in local culture through dramatic, regionally inspired art and other touches. A full Ruby room package through Wyndham’s Manufacturer Direct program costs approximately $2,600 per key and is available in single king and double queen configurations.
Microtel by Wyndham – Moda Showcasing Microtel’s modern yet minimalist aesthetic, the Moda room is designed to maximize space and efficiency while elevating the guest experience. Featuring stylish, space-conscious furnishings; crisp, modern bedding; and energizing hues of blue and yellow, rooms are a quiet and welcoming respite for travelers eager to escape the chaos of the day-to-day. A full Moda room package through Wyndham’s Manufacturer Direct program costs approximately $2,800 per key and is available in a double queen configuration.
“What I love about Wyndham’s Manufacturer Direct program is the control and transparency it gave me in overseeing my hotel’s renovation, and how easy it was to work with manufacturers” said Nilesh Patel, Days Inn by Wyndham FAC member and owner of the newly remodeled Days Inn by Wyndham in El Cajon, Calif. “Not only did it allow me to manage the project in the way that I knew was best for my business, but the savings I was able to realize freed up capital that I’m now able to deploy into other areas of my business. As an owner, that’s a huge win.”
Wyndham plans to expand its Manufacturer Direct program later this year, next welcoming AmericInn by Wyndham franchisees with additional brands slated to follow.
Tailored Solutions for Every Type of Owner In addition to offerings through its Manufacturer Direct program, Wyndham franchisees can still access more traditional renovation programs through its Procurement Service Providers (PSP). Doing so allows franchisees to customize their approach to renovations, ideal for those who are navigating complex renovations, juggling several projects or wanting to have a less active role in the process. PSPs allow franchisees complete control to customize their level of support and offer different levels of pricing. Service options may include placing orders and managing distribution, to assisting with layout and design, or even start to finish project management support overseeing every detail of a renovation from budget to timeline, design and everything in between.
“We recognize that no two hotel owners are the same and because of that, renovation needs, including third-party support and assistance, are going to vary from one hotel to the next,” added Kellam. “With the addition of our Manufacturer Direct program, Wyndham now has one of, if not the most, robust offerings for franchisees looking to renovate their hotels. What’s more, regardless of which path a franchisee chooses, they can rest easy knowing they’re getting high quality products that conform with their brand’s specific standards.”
For additional details on the latest room designs and brand prototypes, as well as franchising opportunities with Wyndham Hotels & Resorts, visit www.wyndhamdevelopment.com.
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About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,100 hotels across over 95 countries on six continents. Through its network of approximately 843,000 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 more than 100 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
Multi-year deal brings world's largest hotel franchisor and number one hotel rewards program into 120 ballparks, driving new hotel stays while unlocking one-of-a-kind member experiences
PARSIPPANY, N.J., (March 29, 2023) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels spanning more than 95 countries, today announced a new multi-season partnership with Minor League Baseball. The deal makes Wyndham the Official Hotel Partner of Minor League Baseball (MiLB) with its award-winning loyalty program, Wyndham Rewards, becoming MiLB’s Official Hotel Loyalty Partner.
Wyndham chose Minor League Baseball as the program’s newest partner based on MiLB’s growing popularity, accessibility, and strong synergies between its guests, particularly its rewards members, and MiLB’s fan base. For the past five years, Wyndham Rewards has been named the number one hotel rewards program by readers of USA TODAY. Known for championing everyday travelers through its unmatched simplicity and generous rewards, the program offers members unparalleled access to a growing redemption portfolio of more than 50,000 hotels, vacation club resorts and vacation rentals round the world.
“Minor League Baseball has been grooming and celebrating the sport’s next-generation of stars for decades, all while entertaining fans and helping families make memories that last a lifetime,” said Dana Rosenberg, senior vice president of Marketing at Wyndham Hotels & Resorts. “Our partnership brings guests and members closer to something we already know they love, and in doing so, makes it easier than ever for them to unlock new value and experiences with Wyndham and Wyndham Rewards.”
Through Wyndham’s new relationship with Minor League Baseball, Wyndham Rewards members will soon be able to redeem points for unprecedented access to all that MiLB has to offer, including: tickets to Minor League games, one-of-a-kind experiences such as throwing a first pitch, behind-the-scenes ballpark tours, batting practice field access and more. Benefits are slated to go live later this summer.
“Baseball fans love traveling to see the many ballparks around the country and watching their favorite teams play,” said Uzma Rawn, senior vice president, Global Partnerships, Major League Baseball. “When you consider our Minor League Baseball stadiums around the country, on average nearly 20 by Wyndham branded hotels are within a 25-mile radius. It’s a partnership that truly fits like a glove.”
Wyndham’s partnership with Minor League Baseball also includes a series of additional touchpoints designed to raise visibility of the program among fans while simplifying travel to and from their favorite Minor League games. These include a heavy presence at over 8,000 scheduled Minor League games in the form of branded stadium features, sponsorship of Minor League Baseball’s Official Ballpark Guides, a robust social and digital media presence, and Wyndham booking links on MiLB.com as well as all 120 Minor League Baseball Club sites. The deal also carries additional benefits for Wyndham franchisees. Notably, official MiLB League travel will now include stays at Wyndham hotels. What’s more, franchisees will have access to all team logos, allowing for cross marketing opportunities between hotels and their local Minor League team.
Added Rosenberg, “This is an incredibly rich and detailed partnership, one that brings immense value not just for Wyndham Rewards, but Wyndham’s thousands of hotel franchisees who are the heart of everything we do.”
Named the number one hotel loyalty program by readers of USA TODAY, Wyndham Rewards is the only hotel loyalty program offering members a guaranteed 1,000 points with every qualified stay. Free nights start at just 7,500 points per night, while discounted nights start at 1,500 points plus some cash. The program’s member levels (status), which are among the most attainable in travel, allow members to unlock benefits like a preferred room, late checkout, accelerated earning, suite upgrades and more.
About Minor League Baseball Minor League Baseball consists of 120 teams across four classification levels (Single-A, High-A, Double-A, and Triple-A) that are affiliated with Major League Baseball’s 30 teams. Fans flock to MiLB games to see baseball’s future stars and experience the affordable family-friendly entertainment that has been a staple of MiLB since 1901. For more information, visit MiLB.com. Follow MiLB on Facebook, Instagram, and Twitter.
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 843,000 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 nearly 100 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visitwww.wyndhamhotels.com.
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