PARSIPPANY, N.J., April 30, 2019 – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended March 31, 2019. Highlights include:
Revenues increased 55% compared with first quarter 2018, to $468 million.
Net income was $21 million for the first quarter; adjusted net income was $51 million.
Diluted earnings per share were $0.22 and adjusted diluted EPS were $0.52.
Adjusted EBITDA increased 21% compared with the prior-year quarter, to $111
Global RevPAR increased 7% year-over-year, and 1% in constant currency and excluding our 2018 acquisitions and
U.S. RevPAR increased 13% year-over-year, and 1% excluding our 2018 acquisitions and divestitures.
System-wide rooms grew 12% year-over-year, and 3% excluding our 2018 acquisitions and divestitures.
Company re-affirms its previous full-year 2019
“Our first quarter results were consistent with our expectations and included double-digit growth in adjusted EBITDA despite our decision to incur a higher proportion of our 2019 marketing expenses in the early part of the year,” said Geoffrey A. Ballotti, chief executive officer. “We remain enthusiastic about our prospects for growth, the synergies we expect from the La Quinta acquisition, and our leading presence in the economy and midscale segments of the lodging industry.”
Revenues were $468 million, compared with $302 million in the first quarter of 2018. Results reflect $169 million of incremental revenues from La Quinta. Excluding the impact from 2018 acquisitions and divestitures, revenues were consistent with last year in constant currency, primarily due to higher license, royalty and other fees, offset by lower cost-reimbursement revenues.
Net income was $21 million, or $0.22 per diluted share, compared to $39 million, or $0.40 per diluted share, in the first quarter of 2018. Prior-year results predate the Company’s spin-off and the acquisition of La Quinta and therefore included substantially lower separation-related, interest and corporate expenses.
Adjusted net income was $51 million, or $0.52 per diluted share, compared with $55 million, or $0.55 per diluted share, in the first quarter of 2018. First quarter earnings comparisons were impacted by the acquisition of La Quinta, higher interest expense, the timing of marketing expenses and the absence of $4 million of net hurricane-related insurance proceeds received during first quarter 2018. The timing-related increase in marketing expenses alone, measured relative to marketing, reservation and loyalty revenues, reduced first quarter 2019 adjusted net income by $12 million or $0.12 per diluted share. Full reconciliations of GAAP results to our non-GAAP adjusted measures for all reported periods appear in the tables to this press release.
First quarter adjusted EBITDA was $111 million, compared with $92 million in the first quarter of 2018. Management estimates that first quarter results reflect approximately $33 million of adjusted EBITDA from La Quinta. Excluding the impact from 2018 acquisitions and divestitures, adjusted EBITDA decreased 13% in constant currency, primarily due to the timing of marketing expenses, which suppressed growth by 16 percentage points, and the absence of the net hurricane-related insurance proceeds received in first quarter 2018, which suppressed growth by 4 percentage points.
Consistent with the Company’s expectations, first quarter adjusted EBITDA represented 18% of the Company’s projected full-year adjusted EBITDA.
As of March 31, 2019, the Company’s hotel system consisted of approximately 9,200 properties and approximately 812,000 rooms, a 12% increase compared with the first quarter of 2018. Room count grew 3% year-over-year, excluding our 2018 acquisitions and divestitures. The Company’s development pipeline consisted of 1,400 hotels and approximately 181,000 rooms, a 23% year-over-year room increase, including over 25,000 La Quinta pipeline rooms and the removal of 2,000 Knights Inn pipeline rooms. The Company also increased its pipeline sequentially by 1% compared to fourth quarter 2018. Approximately 54% of the Company’s development pipeline is international and 73% is new construction.
Business Segment Discussion
The following discussion of first quarter operating results focuses on revenue and adjusted EBITDA for each of our segments.
Hotel Franchising
Revenues increased 33% compared to first quarter 2018, including $61 million of incremental revenues from La Quinta. Excluding the impact from 2018 acquisitions and divestitures, revenues increased 4% in constant currency, due to higher license, royalty and other fees. Adjusted EBITDA grew 31% to $113 million, including an estimate of approximately $26 million of adjusted EBITDA from the acquisition of La Quinta. In constant currency and excluding the impact from 2018 acquisitions and divestitures, adjusted EBITDA grew 4%, reflecting the growth in revenues and lower operating expenses, partially offset by the timing of marketing expenses, which reduced adjusted EBITDA by $13 million.
Hotel Management
Revenues increased $98 million compared to the prior-year period, reflecting $108 million of incremental revenues from La Quinta (including $97 million of cost-reimbursement revenues). Excluding the impact from the acquisition of La Quinta, revenues declined $10 million primarily due to lower cost-reimbursement revenues, which have no impact on adjusted EBITDA. Adjusted EBITDA was unchanged compared to the prior-year quarter, reflecting an estimate of approximately $7 million of adjusted EBITDA from La Quinta and the absence of $4 million of net hurricane-related insurance proceeds received in first quarter 2018.
Other Items
Share Repurchases – The Company repurchased approximately 874,000 shares of its common stock for $44 million in the first quarter.
La Quinta Integration – Earlier this month, the Company completed the last major milestones in its integration of La Quinta, migrating the brand’s more than 900 hotels to Wyndham’s outsourced, cloud-based central reservation and property management systems and adding La Quinta to the Wyndham Rewards loyalty program. The Company now estimates that annual synergies from the La Quinta acquisition will be $64 million to $70 million and that it will reach full run-rate synergies in third quarter 2019.
Outlook
The Company is reaffirming the following outlook for full-year 2019:
Revenues of $2.11 billion to $2.16 billion, an increase of 13% to 16%.
Adjusted net income of $301 million to $313
Adjusted EBITDA of $605 million to $620 million, a year-over-year increase of 19% to 22%.
Rooms growth of 2% to 4%.
Organic RevPAR growth of 1% to 3% in constant
The Company increased its outlook for adjusted diluted EPS by two cents, to $3.07 to $3.19, based on an adjusted share count of 98.2 million, which reflects first quarter share repurchases and excludes future repurchases. The Company is providing an outlook for net income, EBITDA and EPS only on a non-GAAP, adjusted basis because it is unable to predict with reasonable certainty the occurrence or amount of potential adjustments that may arise in the future.
Conference Call Information
Wyndham Hotels will hold a conference call with investors to discuss the Company’s results and outlook on Tuesday, April 30, 2019 at 8:30 a.m. ET. Listeners can access the webcast live through the Company’s website at www.investor.wyndhamhotels.com. The conference call may also be accessed by dialing 877 876-9174 and providing the passcode “Wyndham”. Listeners are urged to call at least five minutes prior to the scheduled start time. An archive of this webcast will be available on the website for approximately 90 days beginning at noon ET on April 30, 2019. A telephone replay will be available for approximately ten days beginning at noon ET on April 30, 2019 at 800 374-0934.
Presentation of Financial Information
Financial information discussed in this press release includes non-GAAP measures, which include or exclude certain items. These non-GAAP measures differ from reported GAAP results and are intended to illustrate what management believes are relevant period-over-period comparisons and are helpful to investors as an additional tool for further understanding and assessing the Company’s ongoing operating performance.
Exclusion of items in the Company’s non-GAAP presentation should not be considered an inference that these items are unusual, infrequent or non-recurring. Full reconciliations of GAAP results to the comparable non- GAAP measures for the reported periods appear in the financial tables section of this press release.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 812,000 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 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award- winning Wyndham Rewards loyalty program offers over 75 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. Forward-looking statements include those that convey management’s expectations as to the future based on plans, estimates and projections at the time Wyndham Hotels makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “intend,” “goal,” “future,” “outlook,” “guidance,” “target,” “estimate,” “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 Wyndham Hotels to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements contained in this press release include statements related to Wyndham Hotels’ 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.
You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Factors that could cause actual results to differ materially from those in the forward- looking statements include, without limitation, general economic conditions, the performance of financial and credit markets, the economic environment for the hospitality industry, operating risks associated with the hotel franchising and management businesses, the impact of war, terrorist activity or political strife, risks related to our spin-off as a newly independent company, risks related to the acquisition and integration of La Quinta, risks related to our ability to obtain financing and the terms of such financing, and the timing and amount of future share repurchases and dividends, as well as the risks described in Wyndham Hotels’ 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. Except as required by law, Wyndham Hotels undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise.
PARSIPPANY, N.J., April 5, 2019 /PRNewswire/ — Wyndham Hotels & Resorts (NYSE: WH) announced today that it will report first quarter 2019 results on Tuesday, April 30, 2019. Geoff Ballotti, President and Chief Executive Officer, and David Wyshner, Chief Financial Officer, will host a call with investors at 8:30 a.m. ET that morning to discuss the Company’s results and business outlook.
Listeners can access the webcast live through the Company’s website at www.investor.wyndhamhotels.com. The conference call may also be accessed by calling 877 876-9174 and providing the passcode “Wyndham”. Listeners are urged to call at least five minutes prior to the scheduled start time. An archive of this webcast will be available on the website for approximately 90 days beginning at noon ET on April 30, 2019. A telephone replay will be available for approximately ten days beginning at noon ET on April 30, 2019 at 800 374-0934.
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 810,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers more than 70 million enrolled members the opportunity to redeem points at tens of thousands of hotels, vacation club resorts and vacation rental properties globally. For more information, visit www.wyndhamhotels.com.
Hotel Leader Joins Business Coalition for the Equality Act and Earns Perfect Score as a Best Place to Work for Lesbian, Gay, Bisexual, Transgender and Queer (LGBTQ) Equality
Wyndham Hotels & Resorts team members participate in the 2018 Pride March in New York City. Photo credit: Danny Chin - Omega Photo StudiosClick to Download
PARSIPPANY, N.J. (April 4, 2019) – Wyndham Hotels & Resorts (NYSE: WH) has been recognized for its culture of inclusion by the Human Rights Campaign on the heels of reinforcing its commitment to workplace fairness for lesbian, gay, bisexual, transgender and queer (LGBTQ) team members. Within the same week of joining the Business Coalition for the Equality Act, Wyndham Hotels & Resorts earned a perfect score of 100 as a Best Place to Work for LGBTQ Equality.
“At Wyndham Hotels & Resorts, we are committed to creating an inclusive work environment where all of our team members can thrive,” says Mary Falvey, chief administrative officer, Wyndham Hotels & Resorts. “That’s why last week we raised the bar in ensuring workplace fairness by joining the Business Coalition for the Equality Act. Our pledge put an exclamation point on Wyndham Hotels & Resorts’ welcoming culture that reflects the diversity of our team members, guests, owners and communities around the world.”
On March 26, at the Diversity and Inclusion Conference in Philadelphia, Wyndham Hotels & Resorts joined the Business Coalition for the Equality Act, a group of leading U.S. employers that support the Equality Act, federal legislation that would provide the same basic protections to LGBTQ people as are provided to other protected groups under federal law.
In joining the Business Coalition for the Equality Act, Wyndham Hotels & Resorts reinforced its strong history of diverse and inclusive practices, with full leadership support, to its team members, partners and customers. As part of Wyndham Worldwide, the Human Rights Campaign named the Company as one of the Best Places to Work for LGBTQ Equality nine times with a perfect score of 100.
“For more than ten years, Wyndham has been an employer of choice among the LGBTQ community, and one that encourages team members to bring their whole selves to work,” said Patricia Lee, executive vice president of Global Learning and Development and chief social responsibility officer, Wyndham Hotels & Resorts. “Our recognition as a Best Place to Work shows that we continue to do the right thing in ensuring the environment we’re cultivating is in the spirit of hospitality.”
Recognizing that embracing inclusivity is good business, Wyndham Hotels & Resorts appeals to diverse consumers, cultivating welcoming environments in its hotels, in addition to supporting its team members. An important element of this culture is Pride, an affinity business group dedicated to fostering a culture of acceptance and equality within the Company. With local chapters in several corporate locations, Pride members raise awareness of LGBTQ issues, lead community support activities, and drive a positive impact on business practices and goals.
The 2019 Corporate Equality Index evaluates LGBTQ-related policies and practices including non-discrimination workplace protections, domestic partner benefits, transgender-inclusive health care benefits, competency programs, and public engagement with the LGBTQ community. For more information on the 2019 Corporate Equality Index, or to download a free copy of the report, visit www.hrc.org/cei.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 810,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards® loyalty program offers more than 70 million enrolled members the opportunity to redeem points at tens of thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.
PARSIPPANY, N.J., April 3, 2019 – Wyndham Rewards®, the world’s most generous rewards program, today announced the addition of new program benefits for its more than 70 million enrolled members around the globe—including the introduction of special perks designed exclusively for active and retired U.S. and Canadian military members and their spouses—all while officially welcoming more than 900 La Quinta® hotels to the program’s award-winning portfolio.
Starting today, Wyndham Rewards members can begin taking advantage of the following:
A Faster Way to Free Nights – With the introduction of three distinct redemptions tiers, free nights (go freeSM) now start at just 7,500 points per bedroom per night (half their previous redemption cost) at nearly 3,000 hotels while points + cash award nights (go fastSM) now start at just 1,500 points per bedroom per night, plus some cash.
New Places to Stay – Through the addition of the La Quinta brand, Wyndham Rewards members now have more than 900 new hotels where they can earn and redeem Wyndham Rewards points, including hotels in key destinations like Dallas, Miami, San Francisco, Seattle and Toronto, to name just a few.
New Benefits for Military Members – U.S. and Canadian military members (active, reserve, veteran or retired status) and their spouses now receive a complimentary upgrade to Gold level membership along with 1,000 bonus points on their first qualifying night. These benefits are in addition to existing discounts of 12 percent or more off the Best Available Rate at participating Wyndham Rewards hotels. (Note: Wyndham Rewards membership is not required to take advantage of the discount.)
“We’re incredibly excited about what these enhancements mean for our members, as they’re a direct response to what they told us they value most,” said Eliot Hamlisch, senior vice president of worldwide loyalty and partnerships at Wyndham Hotels & Resorts. “As champions of the everyday traveler, our goal is to deliver a simple, generous program that offers rich, meaningful rewards alongside one of the largest, most diverse redemption portfolios in the world.”
Earn on Everyday Purchases, Redeem for Incredible Rewards
In addition to the above benefits, starting today, members can take advantage of new and expanded partners making it easier than ever to earn and redeem points outside of hotel stays. Whether it’s shopping for a new spring jacket or filling up at the pump, Wyndham Rewards is encouraging members to go for itSM, making the most of everyday purchases, earning and redeeming points toward incredible rewards. Among the many ways members will be able to earn and redeem:
Shopping – Earn up to 10 points per dollar spent when shopping online through WyndhamRewards.com with select retailers, including popular brands like Target®, Apple® and Home Depot®. Plus, redeem points for merchandise, gift cards, air travel, car rentals and more.
Gas – Earn points at Marathon branded gas stations on fuel and select in-store purchases, including 2 points per gallon of gas with MakeItCount™, Marathon’s fuel rewards program. Also save 5 CentsOff® on every gallon, everyday. Plus, redeem points for fuel discount rewards starting at as few as 3,000 points.
Coming in the next few weeks:
Tours and Experiences – Earn up to 10 points per dollar spent when booking tours and experiences online through WyndhamRewards.com with Viator and redeem points for tours and experiences starting at around 1,500 points.
Food Delivery – Earn 250 points with every DoorDash order placed through wyndhamrewards.com. Plus, new DoorDash customers can earn 2,000 bonus points on their first order.
To learn more about the above Wyndham Rewards enhancements, including full details on new ways to earn and redeem, visit www.wyndhamrewards.com. A complete listing of Wyndham Rewards hotels, along with their newly assigned redemption tiers, is available at www.wyndhamrewards.com/locations.
About Wyndham Rewards Recently named the number one hotel rewards program by readers of USA TODAY, Wyndham Rewards® is the world’s most generous rewards program with more than 30,000 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 more than 9,000 hotels or tens of thousands of vacation club resorts and vacation rentals globally through partnership with Wyndham Destinations (NYSE: WYND) and others. Join for free today at www.wyndhamrewards.com. You’ve earned this.®
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 810,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards® loyalty program offers more than 70 million enrolled members the opportunity to redeem points at tens of thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.
Spearheading Wyndham’s largescale new construction growth strategy, Microtel’s modern design lifts the economy segment’s only all-new construction hotel brand rivaling midscale aesthetic and performance
Above, a rendering of Microtel by Wyndham’s new Moda prototype designed to optimize efficiences, elevate the brand’s aesthetic and reduce building costs for developers.Click to Download
PARSIPPANY, N.J. (March 21, 2019) – Microtel® by Wyndham, the award-winning economy hotel brand under Wyndham Hotels & Resorts (NYSE: WH), today unveiled its newest prototype, a reimagined interior and exterior concept designed to further elevate the brand, reduce building costs, optimize efficiencies and drive greater returns for developers. The prototype is the first step of Wyndham’s overarching new construction growth strategy focused on delivering long-term value and quality for owners.
The new prototype, Moda, represents the evolution of the Microtel brand emphasizing modern efficiency and minimalism for today’s guest and owner. The new exterior architecture and interior design elevate the brand’s spaces to match the midscale experience it already delivers – now at an even more competitive, economy cost to build. Moda reduces Microtel’s total footprint by 28 percent versus the prior prototype. The design also delivers more than 70 percent of rentable space – one of the strongest in both the economy and midscale segments.
“Microtel is the epitome of efficiency: it outperforms the segment, offers streamlined operations and leads its peers in guest satisfaction,” said Keri Putera, vice president, Brand Operations, Microtel by Wyndham. “As we build on the brand’s existing model, we’ve identified small, purposeful details which can drive large, incremental savings for developers and create a significant impact on the experience for our guests. Moda – a term symbolizing both style and precision – simplifies operations through design while tapping into the growing trend of minimalism, addressing the changing needs of today’s travelers and owners.”
The first hotels leveraging the new prototype are set to break ground in 2019.
Development Disruptor
Microtel’s transformative next step is the first of a multi-pronged growth strategy for Wyndham Hotels & Resorts as it builds the foundation for future expansion just over nine months into its tenure as a pure-play hotel company.
Wyndham’s new development strategy prioritizes quality and longevity in the economy and midscale segments via smart investment and partnering with growing entrepreneurs. Taking a page from the industry-leading practices of its newly acquired La Quinta® by Wyndham brand, the company’s strategy underscores new construction growth, design-driven conversions and a redesigned franchisee journey emphasizing added value over the lifetime of the investment.
“Microtel is already a category-killer in the economy segment and is poised to disrupt in the midscale segment where it often competes, making it the perfect first step as we set out to transform the new construction landscape in both these segments,” said David Wilner, senior vice president, New Construction Development, Wyndham Hotels & Resorts. “With a focus on streamlined new construction models like Moda, we are paving the way for continued expansion across our economy and midscale brands and creating a foundation of long-term support for entrepreneurial hoteliers growing their businesses.”
A More Efficient Microtel by Wyndham
Developed in collaboration with seasoned Microtel owners and award-winning architect firm, Hoefer Wysocki, Moda incorporates modern architecture, smart interior staples like wall-hung furniture and minimalist interior design trends to appeal to millennials and today’s business and leisure travelers.
According to Mayflower, millennials are leading the way when it comes to streamlined living spaces with the bare essentials, with 23 percent significantly more likely to say they’re minimalists when it comes to purging things or belongings. The Moda prototype delivers a sleek, minimalist look and feel contributing to an elevated guest experience while also streamlining costs to develop.
Exterior Highlights
The new design includes a four-story exterior facade option and features a new, flat-roof design, elevating Microtel’s visibility, signage and status from its previous pitched-roof design.
The building itself is sleeker, reducing the total number of cut-outs in the foundation by modeling a Bauhaus architectural style – at 34,700 to 35,700 square feet, it’s saving developers significant square footage material costs.
The design changes minimize the brand’s land requirements by 11 percent, affording developers more freedom and flexibility to build.
Interior Highlights
The interior design delivers layout and maintenance efficiencies inspired by conversations with owners and operators across the industry.
Leaner and more modular, Moda uniformly positions guestrooms by unit type – suites, doubles and singles – allowing for natural building breaks and flow.
Wall-mounted headboards, desks and televisions help housekeepers turn guestrooms faster, maximize open guest space and appeal to the personal aesthetic of today’s millennial travelers.
Incorporating the Franchisee’s Fingerprint
Helping to ensure Moda fits the owner and guest bill at each stage of the design process – from first conceptualization to final prototype – is a team of Microtel owners and industry vets, including a 15-person Microtel Developer Advisory Council offering feedback and expertise. The brand tapped owners, operators and general managers from various brands, markets and segments to work hand-in-glove with designers integrating additional operational feedback into the design.
Microtel owner and Franchise Advisory Board member Chad Moore is one of the first to sign executed agreements to build two new Moda prototypes in Milford and Rehoboth Beach, Delaware in 2019.
“I like to keep things simple, especially in business, and Microtel lets me do this,” said Moore, seasoned owner of the Microtel by Wyndham Georgetown in Delaware. “Moda streamlines the development and operations of the hotel – while strongly upholding the defining design and service principles that have made Microtel the economy champion it is today – making the new Microtel an even more attractive, lucrative and valuable long-term investment.”
As of December 2018, Microtel has 82 hotels in the development pipeline – 59 in the United States and 23 internationally. Interested developers can visit www.buildmicrotel.com, or contact the Microtel Franchise Development team by email at [email protected] and by phone at (800)889-9710, for more information.
About Microtel by Wyndham Microtel® by Wyndham is an award-winning chain of more than 340 economy hotels located throughout North America, Mexico and the Philippines. Consistently over-delivering on both guest and owner expectations, Microtel is the only all new-construction hotel in the economy segment. Ranked best-in-class by organizations like The Harris Poll®, Microtel’s rich award-recognized heritage is backed by 15 J.D. Power honors – the most of any hotel brand in the economy segment. Microtel prides itself on being an innovator, offering a midscale experience at an economy price with an array of complimentary amenities including free Wi-Fi and continental breakfast. Other amenities available at most hotels include meeting and fitness centers, swimming pools and the opportunity to earn and redeem points through Wyndham Rewards®, the brand’s guest loyalty program. Travelers can join the program for free at www.wyndhamrewards.com.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 810,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards® loyalty program offers approximately 61 million enrolled members the opportunity to redeem points at tens of thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.
488-key Wyndham Acmar Klang to become a major new landmark in the Klang Valley, Malaysia’s main economic and tourism centre
KLANG, MALAYSIA (26 February 2019) – Wyndham Hotels & Resorts, the world’s largest hotel franchisor and a leading provider of hotel management services, has revealed plans to launch its flagship Wyndham brand in Malaysia with the signing of a new landmark hotel in the Royal Town of Klang, just 30 minutes from Kuala Lumpur.
Wyndham Acmar Klang will become the first international upscale hotel in this strategically important city, and is expected to be the leading choice for business travellers, meeting planners and leisure guests upon opening in the third quarter of 2019. Located close to three major national highways, the hotel is just 30 minutes from Kuala Lumpur and 40 minutes from KLIA. The hotel is owned by the Acmar Group of Companies and will be managed by Wyndham Hotels & Resorts.
“As the commercial gateway to Malaysia and a highly connected urban centre, Klang is at the core of Malaysia’s economic success. The entire Klang Valley area is enjoying tremendous growth making this an excellent opportunity to introduce a world-class international upscale hotel to the Royal Town of Klang. Managed by Wyndham, this hotel will become the city’s leading place to stay, dine and host excellent events,” said Joon Aun Ooi, president and managing director, Wyndham Hotels & Resorts, South East Asia and Pacific Rim.
“Wyndham Acmar Klang is a truly impressive property, providing spacious accommodation and every service guests could desire, all supported by Malaysia’s timeless values of hospitality. It will also become a major local focal point for conferences and events, providing companies with the facilities they need to create important events, without having to go to Kuala Lumpur. I look forward to working with Wyndham and creating a new landmark in Klang,” added Dato’ Steven Tee, Group Managing Director, Acmar Group of Companies.
Wyndham Acmar Klang will offer guests a wealth of international amenities in addition to its hallmark welcoming hospitality. The upscale hotel will offer 488 guestrooms across two wings – from Deluxe Rooms with plush furnishings and working areas to 188 stylish suites offering added space for guests to unwind in luxury. Guests staying in the suites can also make use of the Executive Lounge which provides an array of exclusive amenities including private check-in, daily breakfast and all-day drinks and snacks.
This new-build hotel will become a major hub for meetings and events, with a luxurious Grand Ballroom capable of hosting the most impressive occasions including corporate conferences, award ceremonies and lavish weddings seating up to 2,200 guests. A selection of 11 other flexible spaces provides options for every type of event, including business meetings, exhibitions and product launches. The onsite business centre also offers extensive professional support.
When they are not working, guests can plunge into the designer outdoor pool, soothe their senses in the spa, work out in the fitness centre, shop in a choice of retail outlets or enjoy world-class cuisine in a selection of dining venues. These include specialty Japanese and Chinese restaurants; an all-day dining outlet serving authentic Malaysian favourites and Western cuisine; a sophisticated lobby lounge; relaxing pool bar; and a dramatic top-floor sky lounge, perched on the 23rd floor and offers 360-degree views as far as Kuala Lumpur.
The Klang Valley, which includes Kuala Lumpur, is home to approximately eight million people – about a quarter of Malaysia’s entire population. Housing KLIA, Malaysia’s main international air gateway, and Port Klang, one of the world’s busiest container ports and Kuala Lumpur’s main cruise hub, this dynamic region is at the very heart of Malaysia’s national economy.
At present, Wyndham Hotels & Resorts has a portfolio of four hotels and resorts across Malaysia, including a Days Hotel & Suites property in Kuala Lumpur and Ramada-branded hotels in Kuala Lumpur, Melaka and Johor Bahru.
All of Wyndham’s hotels and resorts in Malaysia participate in Wyndham Rewards®, the world’s most generous rewards program with more than 30,000 hotels, vacation club resorts and vacation rentals worldwide. Designed for the everyday traveller, members earn a guaranteed 1,000 points with every qualified stay and may redeem points for a wide-range of rewards, including free nights, gift cards, merchandise and more.
Count on Wyndham® to give travelers what they really need out of a hotel stay: a good night’s sleep. The namesake of the world’s largest hotel company, Wyndham hotels across five continents in urban and vacation destinations help travelers discover comfort wherever they are. Hotels are simply comfortable, balancing a gentle harmony of calming elements and chic innovation throughout its smartly detailed guest rooms, distinct dining options and flexible meeting and event spaces.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 810,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 61 million enrolled members the opportunity to redeem points at tens of thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.
Global hospitality leader’s culture of integrity and ethical business practices are the foundation of its commanding presence in the lodging industry
PARSIPPANY, N.J. (February 26, 2019) – With a commitment to acting with integrity and a dedication to making hotel travel possible for all, Wyndham Hotels & Resorts (NYSE: WH) has been recognized as one of the 2019 World’s Most Ethical Companies by the Ethisphere Institute. This distinction marks the first global accolade for the Company and builds upon a strong Wyndham history of recognition by Ethisphere, a leader in defining and advancing the standards of ethical business practices.
“In our first year as a new public company, today’s recognition as one of the World’s Most Ethical Companies is continued reaffirmation of the inclusive, values-driven culture instilled in our team members by our former parent, Wyndham Worldwide,” said Geoff Ballotti, president and chief executive officer, Wyndham Hotels & Resorts. “Strong ethics are the foundation of our corporate culture, with integrity being one of our Company’s core values.”
The World’s Most Ethical Companies designation recognizes those companies which align principle with action, work tirelessly to make trust part of their corporate DNA, and in doing so, shape future industry standards by introducing tomorrow’s best practices today.
“Companies with effective compliance programs not only make good ethical decisions, but Ethisphere’s research demonstrates that they also outperform their peers,” said Paul Cash, general counsel and chief compliance officer, Wyndham Hotels & Resorts.
“Our ethical business practices foster great experiences and brand loyalty for our guests and for Wyndham Rewards members, as well as our Wyndham Hotels & Resorts team members,” added Samantha Vaughan, group vice president, corporate compliance and chief privacy officer.
Maintaining a strong focus on ethical practices is part of Wyndham Hotels & Resorts’ robust social responsibility commitment. Some of the Company’s activities and accomplishments include:
Creating a diverse and inclusive place to work and do business through its values-driven culture of ethics and integrity;
Developing new training programs and awareness initiatives to provide tailored guidance for corporate and hotel property-based team members on acceptable business conduct standards and how to weave compliant and ethical decision making into everyday business;
Working to protect human rights by providing hotel owners and franchisees training and awareness tools to identify human trafficking in partnership with the Polaris Project and ECPAT-USA.
The World’s Most Ethical Company assessment is based upon the Ethisphere Institute’s Ethics Quotient® (EQ) framework which offers a quantitative way to assess a company’s performance in an objective, consistent and standardized way. The information collected provides a comprehensive sampling of definitive criteria of core competencies, rather than all aspects of corporate governance, risk, sustainability, compliance and ethics. Scores are generated in five key categories: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership and reputation (10%).
About the Ethisphere Institute
The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character and measure and improve culture. Ethisphere honors superior achievement through its World’s Most Ethical Companies recognition program and provides a community of industry experts with the Business Ethics Leadership Alliance (BELA). More information about Ethisphere can be found at: https://ethisphere.com.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 810,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 61 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.
PARSIPPANY, NJ, February 19, 2019 – Wyndham Rewards®, the world’s most generous rewards program, is about to become even more rewarding this April with plans to introduce a wide-array of new features—from free nights at thousands of hotels starting at just 7,500 points (half their original redemption cost), to the addition of more than 900 La Quinta® hotels, to the ability to earn and redeem points with a host of new and expanded partners.
A direct response to research and feedback from program members, the effort underscores Wyndham’s ongoing commitment to delivering a simple, generous rewards program that’s uniquely designed for the needs of the everyday traveler. Wyndham Rewards currently has approximately 61 million enrolled members worldwide.
“We know members love the simplicity and generosity of Wyndham Rewards but we also know they want greater flexibility when it comes to where and how they can redeem their points,” said Eliot Hamlisch, senior vice president of global loyalty and partnerships at Wyndham Hotels & Resorts. “With these changes, we’re making thousands of hotels available for half the points and what’s more, drastically expanding the ways in which they can earn and redeem those points, making it easier than ever for them to engage with the program.”
Here’s what Wyndham Rewards members have to look forward to come this April:
A Faster Way to Free and Discounted Nights
Empowering more members to redeem points where and how they want, Wyndham Rewards will begin offering three tiers for both free night redemptions (go free) and points + cash redemptions (go fast). Members will also start earning points on the cash portion of points + cash redemptions.
Free Nights Starting at Just 7,500 Points
Free night redemptions will be available at 7,500 points, 15,000 points, and 30,000 points, while points + cash redemptions will be available at 1,500 points + cash, 3,000 points + cash, and 6,000 points + cash, respectively. All redemptions will be per bedroom, per night. Approximately one-third of the program’s hotel portfolio—nearly 3,000 hotels—is expected to move to the more affordable 7,500 point tier while approximately 200 properties will move into the new 30,000 point tier.
Over 30,000 Hotels, Club Resorts, Vacation Rentals and Counting Wyndham Rewards already offers one of the largest, most diverse redemption portfolios in the world and now it’s getting even bigger, from thousands of club resorts and vacation rentals to more than 900 La Quinta hotels.
Wyndham Rewards Welcomes La Quinta La Quinta hotels will officially become a part of Wyndham Rewards on April 3. Free night redemptions will start as low as 7,500 points and with every qualified stay, members will earn 10 points per dollar spent or a minimum of 1,000 points, whichever is more.
More Ways to Earn, More Ways to Redeem Providing more ways to earn and redeem points than ever before, Wyndham Rewards will debut a host of new and expanded partnerships this April. Members can look forward to earning points for food delivery through DoorDash, earning and redeeming points at Marathon gas stations, and earning and redeeming points when booking tours and activities around the globe with Viator. The program will also unveil a new shopping portal, enabling members to earn points on purchases with thousands of online retailers.
Extra Points on Stays
In addition to new earn and redeem partners, Gold, Platinum and Diamond Wyndham Rewards members will be able to earn extra points on their qualified stays with the introduction of accelerated earn. Gold members will earn 10% more in base points, Platinum members will earn 15% more and Diamond members will earn 20% more. Accelerated earn replaces point bonuses, which were previously awarded annually for Platinum and Diamond members.
The vast majority of the above program changes are anticipated to take effect starting April 3, 2019. La Quinta Returns® will officially end at 11:59 p.m. ET on April 2, 2019. Additional information related to earn and redeem opportunities with new partners is expected to be available in late March. For more information on Wyndham Rewards, including full details on the changes and new benefits listed above, visit www.wyndhamrewards.com/comingsoon.
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About Wyndham Rewards
Recently named the number one hotel rewards program by readers of USA TODAY, Wyndham Rewards® is the world’s most generous rewards program with more than 30,000 hotels, 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 more than 8,000 hotels or tens of thousands of club resorts and vacation rentals through partnership with Wyndham Destinations (NYSE: WYND) and others. Join for free today at www.wyndhamrewards.com. You’ve earned this.®
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 810,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 61 million enrolled members the opportunity to redeem points at thousands of hotels, club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.
Company Increases Dividend 16% and Provides Full-Year 2019 Projections
PARSIPPANY, N.J., February 13, 2019 – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months and year ended December 31, 2018. Highlights include:
Revenues increased 69% compared with fourth quarter 2017, to $527 million.
Net income was $43 million for the quarter; adjusted net income was $57 million, a 50% increase over the prior-year quarter.
Diluted earnings per share for the quarter were $0.43 and adjusted diluted EPS were $0.58.
Further adjusted diluted EPS for the quarter (calculated as if our spin-off and our acquisition and integration of La Quinta had occurred on January 1) were $0.62.
Adjusted EBITDA increased 64% compared with the prior-year quarter, to $125 million, and grew 19% in constant currency and excluding our 2018 acquisitions and divestitures.
Further adjusted EBITDA for the quarter was $134 million, consistent with our projection of $127 to $138 million.
Global RevPAR increased 8% compared with fourth quarter 2017 and increased 2% in constant currency and excluding our 2018 acquisitions and divestitures.
System-wide rooms grew 11% year-over-year and 2% excluding our 2018 acquisitions and divestitures.
“We finished 2018 with another strong quarter, capping off a year in which we delivered strong adjusted earnings growth fueled by solid RevPAR and rooms growth while acquiring and integrating La Quinta,” said Geoffrey A. Ballotti, chief executive officer. “We expect to continue to build on this strong foundation and are enthusiastic about our prospects for 2019 as we continue to execute our strategies and deploy capital in order to enhance value for shareholders.”
Fourth Quarter 2018 Operating Results
Revenues were $527 million, compared with $312 million in the fourth quarter of 2017. Results reflect $198 million of incremental revenues from La Quinta. Excluding the impact from 2018 acquisitions and divestitures, revenues increased 6% primarily due to higher license and other fees.
Net income was $43 million, or $0.43 per diluted share, compared to $92 million, or $0.92 per diluted share in the fourth quarter of 2017. Fourth quarter 2018 results include separation-related and transaction-related expenses, and fourth quarter 2017 results include impairment expenses and an $85 million tax benefit recorded as a result of the Tax Cuts and Jobs Act.
Adjusted net income was $57 million, or $0.58 per diluted share, compared with $38 million, or $0.38 per diluted share, in the fourth quarter of 2017. Fourth quarter earnings benefited from our revenue growth and a lower effective tax rate, partially offset by higher interest expense. Full reconciliations of GAAP results to our non-GAAP adjusted measures for all reported periods appear in the tables to this press release.
Fourth quarter adjusted EBITDA was $125 million, compared with $76 million in the fourth quarter of 2017. Results reflect approximately $37 million of adjusted EBITDA from La Quinta and are consistent with the Company’s projection of adjusted EBITDA of $117 million to $127 million in the fourth quarter. Excluding the impact from 2018 acquisitions and divestitures, adjusted EBITDA increased 19% in constant currency, primarily reflecting the growth in revenues and the unfavorable effects in 2017 from hurricanes that affected our owned hotel in Puerto Rico.
The Company estimates that, if it had acquired and fully integrated La Quinta on January 1, its further adjusted EBITDA in the fourth quarter would have been $134 million, and its further adjusted diluted earnings per share would have been $0.62. See Tables 5 and 6 for additional information.
Full-Year 2018 Operating Results
Revenues were $1,868 million, compared with $1,280 million in 2017. Results reflect $513 million of incremental revenues from La Quinta. Excluding the impact from 2018 acquisitions and divestitures, revenues increased 6%, primarily due to higher license and other fees, as well as 6% higher royalties and franchise fees.
Net income was $162 million, or $1.62 per diluted share, compared to $230 million, or $2.31 per diluted share in 2017. 2018 results include separation-related and transaction-related expenses, and 2017 results include impairment expenses and an $85 million tax benefit recorded as a result of the Tax Cuts and Jobs Act.
Adjusted net income was $270 million, or $2.71 per diluted share, compared with $186 million, or $1.87 per diluted share, in 2017. 2018 earnings benefited from our revenue growth and a lower effective tax rate, partially offset by higher interest and depreciation expense.
2018 adjusted EBITDA was $507 million, compared with $383 million in 2017. Results reflect approximately
$89 million of adjusted EBITDA from La Quinta and are consistent with the Company’s projection of adjusted EBITDA of $500 million to $510 million for the full year. Excluding the impact from 2018 acquisitions and divestitures, adjusted EBITDA increased 11% in constant currency, primarily reflecting the growth in revenues.
The Company estimates that, if it had acquired and fully integrated La Quinta on January 1, its further adjusted EBITDA in 2018 would have been $600 million, and its further adjusted diluted earnings per share would have been $3.02.
As of December 31, 2018, the Company’s hotel system consisted of approximately 9,200 properties and approximately 810,000 rooms, an 11% increase compared with the fourth quarter of 2017. Room count grew 2% year-over-year, excluding our 2018 acquisitions and divestitures. The Company’s development pipeline grew to over 1,400 hotels and approximately 180,000 rooms, a 21% year-over-year room increase, including approximately 25,000 La Quinta pipeline rooms and the removal of 2,000 Knights Inn pipeline rooms. The Company also increased its pipeline sequentially by 2% compared to the third quarter, including 3% domestic growth and 1% international growth. Approximately 54% of the Company’s development pipeline is international and 73% is new construction.
Fourth Quarter 2018 Business Segment Information
The following discussion of fourth quarter operating results focuses on revenue and adjusted EBITDA for each of our segments.
Hotel Franchising
Revenues increased 37% compared to fourth quarter 2017, including $64 million of incremental revenues from La Quinta. Excluding the impact from 2018 acquisitions and divestitures, revenues increased 8%, primarily due to $13 million of higher license and other fees. Adjusted EBITDA grew 51% to $122 million, including approximately $30 million of incremental adjusted EBITDA from the acquisition of La Quinta. In constant currency and excluding the impact from 2018 acquisitions and divestitures, adjusted EBITDA grew 16%, reflecting the growth in revenues.
Hotel Management
Revenues increased $132 million compared to the prior-year period, reflecting $134 million of incremental revenues from La Quinta (including $124 million of cost-reimbursement revenues). Excluding the impact from the acquisition of La Quinta, revenues declined $2 million. Adjusted EBITDA increased $12 million compared to the prior-year quarter, reflecting $7 million of adjusted EBITDA from La Quinta and a decline in the unfavorable impact from the 2017 hurricanes on our owned hotels.
Other Items
Share Repurchases – The Company repurchased approximately 1.25 million shares of its common stock for $60 million in the fourth quarter. In the seven months after the Company’s May 2018 spin-off, the Company repurchased 2.3 million shares of stock, or 2% of shares outstanding, at a cost of $119 million. At year-end, the Company had 98.1 million shares outstanding.
Dividend Increase – The Company’s Board of Directors authorized a 16% increase in the quarterly cash dividend to 29 cents from 25 cents per share, beginning with the dividend that is expected to be declared in the first quarter of 2019.
Reacquisition of Master License Rights for Days Inn in China – The Company recently announced that it has reacquired the exclusive direct franchising rights for its Days Inn brand in China. The Days Inn system in China consists of more than 70 hotels encompassing more than 12,500 rooms. The near-term earnings contribution from this transaction is not expected to be material, but the Company now owns the exclusive rights to directly franchise and grow the Days Inn brand in China.
Outlook
The Company provided the following outlook for full-year 2019:
Revenues of $2.11 billion to $2.16 billion, an increase of 13% to 16%.
Adjusted net income of $301 million to $313 million.
Adjusted EBITDA of $605 million to $620 million, a year-over-year increase of 19% to 22%, as discussed below.
Adjusted diluted EPS of $3.05 to $3.17, based on an adjusted diluted share count of 98.7 million, which excludes future share repurchases.
Rooms growth of 2% to 4%.
Organic RevPAR growth of 1% to 3% in constant currency.
The Company views its year-over-year growth in adjusted EBITDA as follows (in millions):
More detailed projections are available in Table 6 of this press release. The Company is providing an outlook for net income, EBITDA and EPS only on a non-GAAP, adjusted basis because it is unable to predict with reasonable certainty the occurrence or amount of potential adjustments that may arise in the future.
Conference Call Information
Wyndham Hotels will hold a conference call with investors to discuss the Company’s results and outlook on Wednesday, February 13, 2019 at 8:30 a.m. ET. Listeners can access the webcast live through the Company’s website at www.investor.wyndhamhotels.com. The conference call may also be accessed by dialing 877-876-9174 and providing the passcode “Wyndham”. Listeners are urged to call at least five minutes prior to the scheduled start time. An archive of this webcast will be available on the website for approximately 90 days beginning at noon ET on February 13, 2019. A telephone replay will be available for approximately ten days beginning at noon ET on February 13, 2019 at 800 283-8486.
Presentation of Financial Information
Financial information discussed in this press release includes non-GAAP measures, which include or exclude certain items. These non-GAAP measures differ from reported GAAP results and are intended to illustrate what management believes are relevant period-over-period comparisons and are helpful to investors as an additional tool for further understanding and assessing the Company’s ongoing operating performance.
Exclusion of items in the Company’s non-GAAP presentation should not be considered an inference that these items are unusual, infrequent or non-recurring. Full reconciliations of GAAP results to the comparable non- GAAP measures for the reported periods appear in the financial tables section of this press release.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 810,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award- winning Wyndham Rewards loyalty program offers approximately 61 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rental properties globally. For more information, visit www.wyndhamhotels.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include those that convey management’s expectations as to the future based on plans, estimates and projections at the time Wyndham Hotels makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “intend,” “goal,” “future,” “outlook,” “guidance,” “target,” “estimate” and similar words or expressions, including the negative version of such words and expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Wyndham Hotels to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements contained in this press release include statements related to the Company’s revenues, earnings, cash flow, dividends and other financial and operating measures.
You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Factors that could cause actual results to differ materially from those in the forward- looking statements include without limitation general economic conditions, the performance of financial and credit markets, the economic environment for the hospitality industry, operating risks associated with the hotel franchising and management businesses, the impact of war, terrorist activity or political strife, risks related to our spin-off as a newly independent company and risks related to our ability to obtain financing as well as the risks described in the section titled “Risk Factors” in Wyndham Hotels’ Registration Statement on Form 10 and in Wyndham Hotels’ other filings with the Securities and Exchange Commission. Except as required by law, Wyndham Hotels undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise.
Wyndham’s upper-upscale brand adds distinctive hotels in California, U.S.; Vietnam; Mexico; Turkey; Georgia; and the Greek Isles; Expands upscale managed portfolio in international destinations
Above, a rendering of Wyndham Grand Cam Ranh in Vietnam, slated to be the brand’s first hotel in Vietnam. The hotel will be managed by Wyndham’s growing management company. Click to Download
PARSIPPANY, N.J. (January 29, 2019) – Wyndham Grand, the upper-upscale brand of Wyndham Hotels & Resorts (NYSE: WH), the world’s largest hotel company with more than 9,000 hotels in more than 80 countries, is slated to debut in six new destinations around the world in 2019: California, U.S.; Cam Ranh, Vietnam; Mexico City, Mexico; Kayseri, Turkey; Tblisi, Georgia; and Crete, Greece.
Two of the new hotels – located in Cam Ranh, Vietnam and Mexico City, Mexico – will be managed by Wyndham Hotels & Resorts’ growing management company, adding to the more than 400 hotels operated by the company globally and expanding its upscale managed capabilities into new countries.
Wyndham Grand is an ensemble of distinctive hotels that are approachable by design, representing one-of-a-kind experiences with sophisticated elegance. The new hotels will join the brand’s 39 existing awe-inspiring locations including Istanbul; Chicago; Shanghai; and Manama, where the first Wyndham Grand in Bahrain, also managed by Wyndham Hotels & Resorts, opened in 2017.
“Travelers are seeking out new destinations and crossing borders more than ever before; in the last two decades alone the number of international travelers around the world has more than doubled to nearly 1.3 billion,” said Bob Loewen, Chief Operating Officer for Wyndham Hotels & Resorts. “We’re strategically expanding Wyndham Grand’s presence around the world in the destinations travelers so eagerly want to explore, whether it’s the shores of Greek Isles, a unique pocket of culture in Southern California, the centuries-old historic capital of Georgia or wherever their bucket list takes them.”
In addition to the hotels planned for 2019, the brand’s pipeline comprises approximately 25 hotels including new destinations in St. Kitts and Nevis, Barbados, Belize and a new dual-branded Wyndham Grand and TRYP by Wyndham® hotel in Miami, Florida.
Westminster California, U.S.
Slated to be part of multi-use development, Wyndham Grand in Westminster will be the brand’s first hotel in California. The hotel will offer 144 guestrooms – making it the largest and only full-service hotel in Westminster — in addition to flexible meeting and event space and a full-service restaurant. Steps away from Westminster’s Little Saigon Tourist Commercial District on Bolsa Avenue, the hotel empowers travelers to explore the hub of Vietnamese dining and culture in the largest Vietnamese community outside of Vietnam.
The hotel is also situated near the city of Garden Grove, California State Route 22 (Garden Grove Freeway) and just seven miles from Disneyland. It’s also a short drive from Huntington Beach, Costa Mesa, Newport Beach and the Pacific Ocean.
Wyndham Grand Cam Ranh, Vietnam
Wyndham Grand Cam Ranh is situated on a 27-hole golf course overlooking the nearby ocean designed by renowned Australian golfer Greg Norman. The hotel offers luxurious accommodation options as well as multiple restaurants and bars, swimming pools, spa and wellness facilities and a convention centre. Cam Ranh, with pristine beaches and deep waters, is a growing tourist destination thanks to the recent expansion of Cam Ranh International Airport and increasing numbers of international flights.
Vietnam is an increasingly popular destination for international travelers. Named one of Travel + Leisure’s 50 Best Places to Travel in 2019, Vietnam welcomed more than 14 million visitors in 2018 – a staggering 21% increase over last year.
Wyndham Grand Mexico City La Condesa, Mexico
The 400-room Wyndham Grand Mexico City La Condesa is the first Wyndham Grand in Mexico. The hotel is situated within the unique Roma-Condesa neighborhood boasting more than 1,500 buildings classified as architectural heritage – including the hotel itself, which will conserve the original architecture while applying contemporary interior design and modern amenities including unique dining and flexible meeting space.
Mexico welcomed nearly 40 million travelers in 2017, a record number of visitors and a nearly 12% increase from the prior year. Mexico City, the heart of the country and a thriving historic destination, is the perfect new home for Wyndham Grand’s unique take on approachable luxury for both families and business travelers.
Wyndham Grand Kayseri, Turkey
Opened in mid-January, Wyndham Grand Kayseri boasts 205 guest rooms and eight meeting rooms, accommodating up to 1,185 people. The hotel also offers traditional Turkish cuisine in its Kale Roof restaurant, complemented by drinks in the lobby lounge or onsite City Pub. Guests also have access to a fitness center and a relaxing spa with a sauna, steam bath and pool.
The hotel is the fifth Wyndham Grand in Turkey and the first in Kayseri, a city with a strong commercial draw for business travelers and a popular ski destination. The hotel is situated near the 60,000-acre Sultan Sazligi National Park which houses more than 300 species of birds.
Wyndham Grand Tbilisi, Georgia
Wyndham Grand Tbilisi, in the heart of Georgia’s capital, is expected to open during the summer and will be managed by McInerney Hospitality International Georgia. The hotel will be located centrally on Freedom Square, adjacent to the National Museum of Georgia and close to a host of other attractions. Set across eight floors, the hotel has been designed by renowned Georgian architect Paata Jgarkava and will include 161 stylish guest rooms and suites.
Tourism is one of the largest economic sectors in the country, with 8 million travelers expected to visit Georgia this year. Wyndham Grand Tbilisi is the latest addition to the company’s overall footprint in Georgia, including Ramada Encore Tbilisi, which opened earlier this year, as well as Wyndham Batumi. Wyndham Hotels & Resorts plans to add four more hotels in Georgia over the next three years.
Wyndham Grand Crete Mirabello Bay, Greece
Wyndham will enter the Greek islands with its first upper-upscale hotel in Crete, Wyndham Grand Crete Mirabello Bay, adding the renowned Mirabello Beach & Village Resort to the Wyndham Grand brand. The seaside resort and meetings destination is located minutes from Agios Nikolaos in the famed Elounda region of Crete.
Wyndham Grand Mirabello will offer 311 guest rooms, more than 6,000 square feet (520 square meters) of meeting space, five restaurants and bars and a variety of leisure facilities spread across two of the region’s most popular beaches for sunning, swimming and boating.
Greece has seen the largest increase in visitor numbers of any European destination in this decade, expecting to total a record 32 million foreign travelers in 2018. The addition to Wyndham Grand Crete Mirabello Bay expands on Wyndham’s partnership with Zeus International, a consulting, hotel management and development services company in Greece. The companies are also partnering to bring the first upscale Wyndham® branded hotel to Cyprus, Wyndham Nicosia, and have an ongoing partnership to develop 20 hotels over 10 years across Greece, Cyprus, Italy and the Balkans.
Travel is the best excuse to enjoy the grand things in life. With locations in some of the world’s most sought after vacation destinations – including Shanghai, Istanbul, Doha, Salzburg and Orlando – Wyndham Grand® hotels transform ordinary moments into unforgettable experiences. Decidedly not stuffy, but approachable by design, this upper-upscale hotel brand helps travelers make every moment count. Follow @WyndhamGrand on Facebook and Instagram.
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with more than 9,000 hotels across more than 80 countries on six continents. Through its network of over 798,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers over 59 million enrolled members the opportunity to redeem points at thousands of hotels, condominiums and holiday homes globally. For more information, visit www.wyndhamhotels.com.
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