Corporate News Archives

Hotel owners and property developers remain confident in industry’s resiliency despite a news cycle dominated by tariffs, inflation, interest rates and more

PARSIPPANY, N.J. (June 2, 2025) – Wyndham Hotels & Resorts today unveiled its first-annual Hotel Owner Trends Report. A multi-month effort spanning two industry-wide surveys of hundreds of hotel owners and property developers, the findings paint a picture of an industry that, despite the tumultuous news cycle, remains confident in its resilience and long-term growth prospects.

“There’s a lot of noise in the marketplace right now and yet, more than 90% of hotel owners and developers are optimistic about what the next five years hold for them. That’s because they know that in hospitality, they’re playing the long game. Case in point: While most admit to having concerns over current economic volatility, four-out-of-five say they still plan to expand their portfolios over the next five years.”

– Amit Sripathi, Chief Development Officer, Wyndham Hotels & Resorts

Brands Matter
Highlighting the critical role brands play in hotel ownership, virtually all surveyed (98%) said they’re currently open to exploring new branded offerings—underscoring the value brands bring to the table versus operating as an independent. Further, most (55%) are interested in traditional or hard brands while just under half (45%) are seeking soft brand opportunities.

Here’s what owners and developers are also looking for:

Support and Leadership Access
Ranking the top two factors owners and developers look for when choosing which brand to join, support from industry experts tops the list (including marketing, revenue management and operational expertise), followed by access to executive leadership.
A Strong Loyalty Program
More than 80% of hotel owners and developers say a strong loyalty program is very important or critical to a hotel’s success, with nearly two-thirds (62%) of those open to joining a brand or switching brands citing it as a top five factor they consider.
A Robust Array of Brand Offerings
When looking at expansion, interest spans virtually all segments. Just over a third (39%) have lifestyle and boutique hotels in their sights, while a similar number (36%) are looking at midscale and upper-midscale. The same is true for economy (35%).

Capitalizing on Extended-Stay
Extended-stay hotels continue to be front and center for hotel owners and developers. Buoyed by historically high demand and developer ROI, nearly all surveyed (96%) see opportunity in extended-stay, highlighting it as an investment with great potential.

Here’s what else owners and developers are saying about extended-stay:

The Model Matters
Operating in extended-stay means operating in a way that’s different from traditional brands. Nearly three-out-of-five surveyed (59%) recognize this, a highlight that embracing the unique operating model of extended-stay is critical to success.
All Eyes on Infrastructure
With historic multi-year infrastructure spend on the rise, 100% of respondents said they anticipate an increase in new business over the next five years (including those outside of the extended-stay segment) as a result of the many projects these investments are funding.
Cross-Sell and Upsell are Key
Both in extended-stay and beyond, when it comes to driving increased revenue, more than 80% of hotel owners and property developers say cross-sell and upsell opportunities are key, describing them as either critical or very important to their hotel’s success.

Fueling the Future with Technology
When choosing a brand, the majority of owners and developers list access to best-in-class technology as one of their top five factors. What’s more, one-in-five (20%) say investing in technology is how they plan to differentiate their hotel from the competition.

Here’s what owners and developers are also saying about technology:

Investing in Tomorrow’s Traveler
Recognizing the role technology plays in delivering a great guest experience, nearly two-thirds (61%) of hotel owners have already invested in, or are considering investing in, things like streaming, digital room keys and self-service kiosks. Meanwhile, nearly half (46%) have done or are considering the same when it comes to EV charging stations.
Harnessing the Power of AI
Over 90% of hotel owners are already leveraging AI in some capacity. Notably, more than 70% are deploying the technology to support operations while more than 60% are using it for guest-facing services.
An Interconnected Guest Experience
When it comes to guest messaging platforms, one-in-three hotels (33%) are already utilizing this technology, with nearly another third (30%) looking to invest in or increase their investment in it. The same is true for mobile tipping: a third of those surveyed (33%) say they already offer mobile tipping, with nearly another third (30%) expecting to invest or increase their investment in it.

“The message from today’s hotel owners and property developers is clear: it’s not just about growing their portfolios, it’s about growing their portfolios with the right brands and the right partners. They also want the best. The best technology, the best rewards program, the best support. The good news? That’s exactly what Wyndham offers, and its why our franchisee retention rate has grown to nearly 96%, including our economy brands, which are among the highest in the industry.”

– Scott Strickland, Chief Commercial Officer, Wyndham Hotels & Resorts

Proven Resilience
Over the last twenty-five years, select-service hotels, like those owned and operated by most Wyndham franchisees, have repeatedly proven their resilience in weathering challenging environments. From 2000 to 2023, U.S. select-service RevPAR grew at a 2.6% CAGR, and during some of the most historic economic events on record, Wyndham’s select-service hotels have consistently outperformed STR’s upscale and above segments. In 2001, following the attacks of 9/11, they outperformed by 300 basis points. In 2008, in the wake of the global financial crisis, they outperformed by 500 basis points. And most recently, in 2020, amid the backdrop of the global pandemic, they outperformed by 2,500 basis points. These results are not coincidental and reflect the tested, long-term value proposition of Wyndham’s select-service brands.

The Wyndham Advantage
As the world’s largest hotel franchisor, Wyndham takes an OwnerFirst^TM approach to franchising, prioritizing the needs of hotel owners and their success. From unprecedented access to Company leaders, to launching new brands designed to take advantage of the extended-stay boom (ECHO Suites® Extended Stay by Wyndham and WaterWalk Extended Stay by Wyndham) to investing nearly $350 million in best-in-class technology since going public in 2018, Wyndham—through the Wyndham Advantage—is making moves that not only help owners succeed today, but also help set them up to innovate and grow their business in the future.

A white paper detailing the findings of Wyndham’s first-annual Hotel Owner Trends Report is slated to be available for download later this month. To sign-up for early access, click here. For more information on franchising opportunities, visit www.wyndhamdevelopment.com.

###

About Wyndham Hotels & Resorts

Survey Methodology
Managed by Wakefield Research, the Wyndham Survey was conducted among 325 Hotel Owners & Hotel Property Developers, with minimum seniority of VP+, in the United States, Canada, and the Caribbean, between February 4th and February 12th, 2025, using an email invitation and an online survey. A follow-up survey was conducted between May 16^th and May 27^th, 2025, with another 325 Hotel Owners & Hotel Property Developers, using similar methods. Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of the percentages expressing the results. For the interviews conducted in both studies, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 6.2 percentage points for the total data, 6.9 percentage for the U.S., 9.8 percentage points for Canada, and 19.6 percentage points for the Caribbean, from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample.

Anchored by its OwnerFirst™ approach, the world’s largest hotel franchisor is redefining hotel ownership through bold advancements across technology, sourcing, loyalty and marketing

LAS VEGAS (May 20, 2025) – Together, Wyndham and its franchisees are going places. That was the message heard by thousands of hotel owners, suppliers and Wyndham team members this morning as the Company officially kicked off its 2025 Global Conference in Las Vegas. Amid a packed Caesars Forum, one of the city’s newest and most modern convention centers, Company leaders laid out over half a dozen new initiatives spanning technology, sourcing, loyalty and marketing—designed to help hotel owners better serve guests all while lowering costs, unlocking operational efficiencies and growing their bottom line.

“As the world’s largest hotel franchisor, we believe in putting hotel owners first. That means listening to their needs and responding with solutions that help them take their business to the next level. Whether it’s our #1 rated rewards program, our best-in-class technology, or our top-tier sales, marketing and operational support—everything we do, every decision that we make, is grounded in their long-term success.”

– Geoff Ballotti, President and CEO, Wyndham Hotels & Resorts

Among the initiatives announced earlier today:

New Best-in-Class Technology
Building on its best-in-class tech stack, the newly launched Wyndham Connect PLUS enhances Wyndham’s existing guest engagement platform by further embedding AI across the guest journey. Automated AI text messaging and voice assistance allows guests to easily book stays, ask questions and access tailored recommendations while newly integrated self-service check-in solutions help hotels free up critical staffing resources. Qualified franchisees can pilot the new platform at no additional cost through the end of the year.The Company also unveiled Wyndham Gateway, a new guest Wi-Fi portal that provides a consistent, centralized login experience. Available for sign-up today, the portal unlocks a new hotel revenue stream through Wi-Fi upsell opportunities while eliminating loyalty enrollment requirements for any hotels leveraging the platform. The one-two combination helps franchisees turn what has always been a staple guest utility into a must-have, high-impact upgrade.

Simplified Sourcing Solutions
Great guest experiences start with well-run operations and Wyndham is investing in both. That includes Wyndham Marketplace, a new hotel shopping platform that, when combined with the new Wyndham PriceIQ, makes it faster and easier for owners to find, compare and purchase brand-approved products at deeply negotiated rates. Meanwhile, a new partnership with sbe’s- Everybody Eats food and beverage solution is helping hotel owners offer chef-driven, restaurant quality offerings without the need for extensive equipment or large back-of-house operations.Wyndham is also helping owners tackle what has become a critical and growing issue within the hospitality industry: access to affordable, high-quality insurance. Through a partnership with HUB International, the 5^th largest insurance brokerage firm globally, Wyndham franchisees now have access to transparent and tailored solutions designed to ensure compliance with Wyndham brand standards, improve coverage and lower costs.

The #1 Hotel Rewards Program, Now More Rewarding
Building on its reputation as the industry’s leading hotel rewards program, Wyndham Rewards® is taking member benefits to the next level with the launch of Wyndham Rewards Experiences. Leveraging partnerships with world-renowned sports and entertainment brands—Madison Square Garden, Radio City Music Hall, Minor League Baseball and Caesars Rewards—members can now use their points to bid on premier live events as well as unforgettable, once-in-a-lifetime experiences. Wyndham Rewards members will also soon have access to new dining perks, thanks to an industry-first partnership between Wyndham and Applebee’s Neighborhood Grill + Bar®, part of Dine Brands Global. Launching later this year, the partnership will allow Wyndham Rewards members staying at a Hotel by Wyndham to earn points when they place a mobile order with any of nearly 1,500 Applebee’s restaurants nationwide with free hotel delivery.Finally, when it comes to franchisees, Wyndham is evolving how it reimburses hotel owners for free night stay redemptions. Currently centered around occupancy, reimbursements will soon incorporate guest satisfaction scores, aiming to reward and recognize hotels delivering great guest experiences. Launching later this year, the model is designed to retain Wyndham’s position of delivering the highest reimbursement rates of any major hotel rewards program.

Marketing that Meets Guests Where They Are
Capitalizing on the power of its unparalleled portfolio, Wyndham is also taking steps to help capture more demand at lower costs for its thousands of franchisees. This summer, the Company will launch a bold new portfolio-wide marketing campaign: Where There’s a Wyndham, There’s a Way. Uniting for the first-time both Wyndham Hotels & Resorts and Wyndham Rewards under one singular identity, the campaign brings to life Wyndham’s mission of Making Hotel Travel Possible for All. The campaign runs through the fall and will appear nationwide across TV, streaming services, online video, social, out-of-home, search, metasearch and display—helping ensure Wyndham is meeting travelers in the spaces and mediums they engage in most.

The Wyndham Advantage
Known throughout the industry for its OwnerFirst^TM approach to franchising, Wyndham’s latest initiatives are all part of what’s known as Wyndham Advantage and reinforce a long-term strategy that has not only helped the company achieve historic levels of franchisee retention—nearly 96%—but do so while growing a record development pipeline and one of the industry’s most decorated rewards programs. What’s more, since going public in 2018, the Company has invested nearly $350 million in best-in-class technology—delivering industry-first sales, marketing and digital innovations—all while expanding on-the-ground operations support for hotels.

Wyndham’s 2025 Global Conference runs through Wednesday, May 21. Built on the theme “We’re Going Places,” the 3-day, in-person event is known for being one of the largest gatherings of hoteliers and hotel suppliers in the world. For more information about Wyndham Hotels & Resorts, including franchising opportunities, visit www.wyndhamdevelopment.com.

# # #

Company Delivers Record First Quarter Openings and Development Pipeline

PARSIPPANY, N.J. (April 30, 2025) – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended March 31, 2025. Highlights include:

Global openings of 15,000 rooms increased 13% year-over-year, a record first quarter.
System-wide rooms grew 4% year-over-year.
Awarded 181 development contracts globally, an increase of 6% year-over-year.
Development pipeline grew 1% sequentially and 5% year-over-year to a record 254,000 rooms.
Global RevPAR grew 2% in constant currency.
Fee-related and other revenues increased 4% year-over-year.
Diluted earnings per share of $78 compared to $0.19 in the prior-year quarter and adjusted diluted EPS grew 10% year-over-year to $0.86, or 20% on a comparable basis.
Net income of $61 million compared to $16 million in the prior-year quarter; adjusted net income increased 5% year-over-year to $67 million, or 14% on a comparable basis.
Adjusted EBITDA increased 3% year-over-year to $145 million, or 9% on a comparable basis.
Returned $109 million to shareholders through $76million of share repurchases and quarterly cash dividends of $0.41 per share.

“We delivered a solid start to the year with strong system growth, record first-quarter openings and continued expansion across every region,” said Geoff Ballotti, president and chief executive officer. “While the macro environment remains uncertain, we’re staying focused on what we can control — investing in high-quality growth, executing with discipline and supporting our franchisees. Our asset-light, franchise-only business model has consistently outperformed during economic downturns and positions us well to deliver long-term value for our shareholders through all phases of any economic cycle.”

System Size and Development

The Company’s global system grew 4%. Importantly, these results included 4% growth in the higher RevPAR midscale and above segments in the U.S., as well as strong growth in the Company’s higher RevPAR EMEA and Latin America regions, which grew a combined 6%. The Company remains on track to achieve its net room growth outlook of 3.6% to 4.6% for the full year 2025.

On March 31, 2025, the Company’s global development pipeline consisted of approximately 2,140 hotels and 254,000 rooms, representing another record-high level and a 5% year-over-year increase. Key highlights include:

5% growth in the U.S. and 4% internationally
19^th consecutive quarter of sequential pipeline growth
Approximately 70% of the pipeline is in the midscale and above segments, which grew 7% year-over-year
Approximately 17% of the pipeline is in the extended stay segment
Approximately 58% of the pipeline is international
Approximately 77% of the pipeline is new construction and approximately 35% of these projects have broken ground
During first quarter 2025, the Company awarded 181 new contracts, an increase of 6% year-over-year.

RevPAR

First quarter global RevPAR increased 2% in constant currency compared to 2024, reflecting 2% growth in the U.S. and 3% growth internationally.

In the U.S., RevPAR growth includes 100 basis points of benefit from hurricanes and the timing of the Easter holiday. Excluding those factors, the Company’s U.S. RevPAR grew 60 basis points year-over-year as pricing strength was partially offset by softer demand with the pullback more pronounced during March.

Internationally, RevPAR growth was also driven by pricing power. The Company continued to see strong performance in its EMEA and Latin America regions, with year-over-year growth of 6% and 25%, respectively, reflecting robust pricing power, partially offset by modest occupancy declines. In China, demand remained steady but RevPAR declined 8% year-over-year reflecting continued pricing pressure.

First Quarter Operating Results
The comparability of the Company’s first quarter results is impacted by marketing fund variability. 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 grew 4% to $316 million compared to $304 million in first quarter 2024, which reflects higher royalties and franchise fees and higher ancillary revenues.
The Company generated net income of $61 million compared to $16 million in first quarter 2024. The increase primarily reflects lower transaction-related expenses in connection with defending an unsuccessful hostile takeover attempt. Other items primarily include the absence of impairment and restructuring costs recorded in first quarter 2024, partially offset by higher interest expense. Adjusted net income grew 5% to $67 million compared to $64 million in first quarter 2024.
Adjusted EBITDA grew 3% to $145 million compared to $141million in first quarter 2024. This increase included an $8 million unfavorable impact from marketing fund variability, excluding which adjusted EBITDA grew 9% on a comparable basis, primarily reflecting higher fee-related revenues and margin expansion.
Diluted earnings per share was $78 compared to $0.19 in first quarter 2024. This increase reflects higher net income and the benefit of a lower share count due to share repurchase activity.
Adjusted diluted EPS grew 10% to $0.86 compared to $0.78 in first quarter 2024. This increase included an unfavorable impact of $0.07 per share related to marketing fund variability (after estimated taxes). On a comparable basis, adjusted diluted EPS increased approximately 20% year-over-year, reflecting comparable adjusted EBITDA growth, lower depreciation and amortization and the benefit of share repurchase activity, partially offset by higher interest expense.
During first quarter 2025, the Company’s marketing fund expenses exceeded revenues by $22 million; while in first quarter 2024, the Company’s marketing fund expenses exceeded revenues by $14 million, resulting in $8 million of marketing fund variability.

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

Balance Sheet and Liquidity
The Company generated $59 million of net cash provided by operating activities and $80 million of free cash flow in first quarter 2025. The Company ended the quarter with a cash balance of $48 million and approximately $637 million in total liquidity.

The Company’s net debt leverage ratio was 3.5 times at March 31, 2025, at the midpoint of the Company’s 3 to 4 times stated target range and in line with expectations.

Share Repurchases and Dividends
During the first quarter, the Company repurchased approximately 797,000 shares of its common stock for $76 million.

The Company paid common stock dividends of $33 million, or $0.41 per share, during the first quarter 2025.

Full-Year 2025 Outlook
The Company is refining its outlook to reflect a softer-than-expected RevPAR environment. The updated range reflects a variety of potential outcomes for the remainder of the year, from a more optimistic scenario in which the softness seen in March and April proves to be temporary, to a more cautious view that contemplates persistent pressure on demand throughout the remainder of the year.

The Company continues to expect marketing fund revenues to approximate expenses during full-year 2025 though seasonality of spend will affect the quarterly comparisons throughout the year.

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

Conference Call Information
Wyndham Hotels will hold a conference call with investors to discuss the Company’s results and outlook on Thursday, May 1, 2025 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 800 343-4136 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 May 1, 2025. A telephone replay will be available for approximately ten days beginning at noon ET on May 1, 2025 at 800 688-9459.

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 franchised properties, with approximately 9,300 hotels across over 95 countries on six continents. Through its network of approximately 907,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 25 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, ECHO Suites®, Registry Collection Hotels®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers over 115 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit https://investor.wyndhamhotels.com. The Company may use its website and social media channels as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Disclosures of this nature will be included on the Company’s website in the Investors section, which can currently be accessed at https://investor.wyndhamhotels.com or on the Company’s social media channels, including the Company’s LinkedIn account which can currently be accessed at https://www.linkedin.com/company/wyndhamhotels. Accordingly, investors should monitor this section of the Company’s website and the Company’s social media channels in addition to following the Company’s press releases, filings submitted with the Securities and Exchange Commission and any public conference calls or webcasts.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements related to Wyndham’s current views and expectations with respect to its future performance and operations, including revenues, earnings, cash flow and other financial and operating measures, share repurchases and dividends and restructuring charges. Forward-looking statements are any statements other than statements of historical fact, including those that convey management’s expectations as to the future based on plans, estimates and projections at the time Wyndham makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “predict,” “intend,” “goal,” “future,” “forward,” “remain,” “confident,” “outlook,” “guidance,” “target,” “objective,” “estimate,” “projection” and similar words or expressions, including the negative version of such words and expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Wyndham to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, general economic conditions, including inflation, higher interest rates and potential recessionary pressures, which may impact decisions by consumers and businesses to use travel accommodations; global trade disputes, including with China; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising business; Wyndham’s relationships with franchisees; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflicts between Russia and Ukraine and conflicts in the Middle East, respectively; global or regional health crises or pandemics including the resulting impact on Wyndham’s business, operations, financial results, cash flows and liquidity, as well as the impact on its franchisees, guests and team members, the hospitality industry and overall demand for and restrictions on travel; Wyndham’s ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to Wyndham’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and Wyndham’s ability to make or pay, plans for and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in Wyndham’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. These risks and uncertainties are not the only ones Wyndham may face and additional risks may arise or become material in the future. Wyndham undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.

Company Increases Quarterly Dividend by 8% and Provides Full-Year 2025 Outlook

PARSIPPANY, N.J., February 12, 2025 – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months and year ended December 31, 2024. Highlights include:

Global RevPAR grew 5% compared to fourth quarter 2023 in constant currency, a 400 basis point improvement sequentially; full-year global RevPAR grew 2% year-over-year in constant currency.
U.S. RevPAR grew 5% compared to fourth quarter 2023, a 600 basis point improvement sequentially; full-year U.S. RevPAR was flat.
System-wide rooms grew 4% year-over-year.
Opened a record 68,700 rooms globally, representing 4% year-over-year growth, including nearly 28,000 in the U.S., which also grew 4% year-over-year.
Global retention rate reaches record level at 95.7%.
Development pipeline grew 2% sequentially and 5% year-over-year to a record 252,000 rooms.
Fourth quarter diluted earnings per share increased 80% to $1.08 and adjusted diluted EPS grew 14% to $1.04, or approximately 18% on a comparable basis; full-year 2024 diluted earnings per share increased 6% to $3.61 and adjusted diluted EPS grew 8% to $4.33, or approximately 10% on a comparable basis.
Fourth quarter net income increased 70% to $85 million and adjusted net income increased 9% to $82 million, or approximately 13% on a comparable basis; full-year 2024 net income was $289 million, or flat year-over-year, and adjusted net income increased 2% to $347 million, or approximately 4% on a comparable basis.
Fourth quarter adjusted EBITDA increased 9% to $168 million, or approximately 12% on a comparable basis; full-year 2024 adjusted EBITDA increased 5% to $694 million, or approximately 7% on a comparable basis.
Returned $430 million to shareholders for the full-year through $308 million of share repurchases and quarterly cash dividends of $0.38 per share.
Board of Directors recently authorized an 8% increase in the quarterly cash dividend to $0.41 per share beginning with the dividend expected to be declared in the first quarter 2025.

“We’re proud to report a very strong finish to 2024 with net rooms growth of 4% and comparable adjusted EBITDA growth of 7%. Our team’s focus on expanding into higher FeePAR markets, growing our extended-stay footprint and unlocking new ancillary revenue streams underscore the diverse growth opportunities inherent in our asset-light, resilient business model,” said Geoff Ballotti, president and chief executive officer. “What excites us most about our future is the developer interest in, and demand for, our brands both here and overseas, reflected in a pipeline that grew another 5% to a record quarter-of-a-million rooms that will open in the coming years with significant FeePAR premiums compared to our existing system. This, when coupled with improving customer demand we’re seeing across both our leisure and infrastructure segments, lays a solid foundation for sustained momentum and meaningful value creation for our shareholders, guests, franchisees and team members for many years to come.”

System Size and Development

Earnings table

The Company’s global system grew 4%. Importantly, these results included 4% growth in the higher RevPAR midscale and above segments in the U.S. as well as strong growth in the Company’s higher RevPAR EMEA and Latin America regions, which grew a combined 7%. The Company also increased its retention rate by another 10 basis points year-over-year, ending the year at a record 95.7%.

On December 31, 2024, the Company’s global development pipeline consisted of approximately 2,100 hotels and 252,000 rooms, representing another record-high level and a 5% year-over-year increase. Key highlights include:

7% growth in the U.S. and 4% internationally
18^th consecutive quarter of sequential pipeline growth
Approximately 70% of the pipeline is in the midscale and above segments, which grew 5% year-over-year
Approximately 17% of the pipeline is in the extended stay segment
Approximately 58% of the pipeline is international
Approximately 78% of the pipeline is new construction and approximately 35% of these projects have broken ground

RevPAR

Earnings table

Fourth quarter global RevPAR increased 5% in constant currency compared to 2023, reflecting 5% growth in the U.S., which accelerated throughout the quarter, and 6% growth internationally. For the full year, global RevPAR was flat compared to 2023 on a reported basis, in line with the Company’s outlook, and grew 2% in constant currency reflecting flat growth in the U.S. and 8% growth internationally.

In the U.S., fourth quarter results included 140 basis points of favorable hurricane impacts; excluding which, RevPAR grew 4% year-over-year reflecting strength in both weekday business bookings and weekend leisure demand. Overall, U.S. RevPAR improved 620 basis points sequentially from third quarter, or 480 basis points excluding hurricane impacts.

Internationally, RevPAR strength was driven by ADR growth of 6% in constant currency, while occupancy remained flat. The Company’s EMEA and Latin America regions saw the largest increases year-over-year in the fourth quarter, collectively growing 15%. RevPAR for the Company’s China region declined 11% in the fourth quarter, driven by a 10% decrease in ADR.

Operating Results

Fourth Quarter

Fee-related and other revenues grew 7% to $341 million compared to $320 million in fourth quarter 2023, which reflects higher royalties and franchise fees.
Net income grew 70% to $85 million compared to $50 million in fourth quarter 2023, reflecting higher adjusted EBITDA, as well as a lower effective tax rate and lower foreign currency impact for highly inflationary countries, which were partially offset by higher interest expense.
Adjusted EBITDA grew 9% to $168 million compared to $154million in fourth quarter 2023. This increase included a $4 million unfavorable impact from expected marketing fund variability, excluding which adjusted EBITDA grew 12% on a comparable basis, primarily reflecting higher royalties and franchise fees and margin expansion.
Diluted earnings per share grew 80% to $1.08 compared to $0.60 in fourth quarter 2023, which primarily reflects higher net income and the benefit of a lower share count due to share repurchase activity.
Adjusted diluted EPS grew 14% to $1.04 compared to $0.91 in fourth quarter 2023. This increase included an unfavorable impact of $0.04 per share related to expected marketing fund variability (after estimated taxes). On a comparable basis, adjusted diluted EPS increased approximately 18% year-over-year reflecting comparable adjusted EBITDA growth and the benefit of share repurchase activity, partially offset by higher interest expense.
During fourth quarter 2024, the Company’s marketing fund revenues exceeded expenses by $5 million; while in fourth quarter 2023, the Company’s marketing fund revenues exceeded expenses by $9 million, resulting in $4 million of marketing fund variability.

Full Year

Fee-related and other revenues grew 1% to $1.40 billion compared to $1.38 billion in full-year 2023, which included $18 million of pass-through revenues associated with the Company’s 2023 global franchisee conference, absent which, fee-related and other revenue increased 3%. This growth primarily reflects higher royalties and franchise fees and ancillary revenues.
The Company reported net income of $289 million, consistent with 2023, as higher adjusted EBITDA was offset by higher transaction-related expenses in connection with defending an unsuccessful hostile takeover attempt. Other items include higher interest expense, restructuring costs and an impairment charge, which were offset by a lower effective tax rate, the absence of foreign currency impacts from highly inflationary countries and a benefit from the reversal of a spin-off related matter.
Adjusted EBITDA grew 5% to $694 million compared to $659million in full-year 2023. This increase included a $10 million unfavorable impact, as expected, from marketing fund variability, excluding which adjusted EBITDA grew 7% on a comparable basis, primarily reflecting higher royalties and franchise fees, increased ancillary revenues and margin expansion.
Diluted earnings per share grew 6% to $3.61 compared to $3.41 in full-year 2023, which primarily reflects the benefit of a lower share count due to share repurchase activity.
Adjusted diluted EPS grew 8% to $4.33 compared to $4.01 in full-year 2023. This increase included an unfavorable impact of $0.09 per share, as expected, related to marketing fund variability (after estimated taxes). On a comparable basis, adjusted diluted EPS increased approximately 10% year-over-year reflecting comparable adjusted EBITDA growth and the benefit of share repurchase activity, partially offset by higher interest expense.
During full-year 2024, the Company’s marketing fund expenses exceeded revenues by $1 million; while in 2023, the Company’s marketing fund revenues exceeded expenses by $9 million, resulting in $10 million of marketing fund variability.

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

Balance Sheet and Liquidity

The Company generated $290 million of net cash provided by operating activities and $397 million of adjusted free cash flow in full-year 2024. The Company ended the quarter with a cash balance of $103 million and approximately $765 million in total liquidity.

The Company’s net debt leverage ratio was 3.4 times at December 31, 2024, just below the midpoint of the Company’s 3 to 4 times stated target range and in line with expectations.

Share Repurchases and Dividends

During the fourth quarter, the Company repurchased approximately 0.3 million shares of its common stock for $23 million. For the full-year 2024, the Company repurchased approximately 4.1 million shares of its common stock for $308 million.

The Company paid common stock dividends of $30 million, or $0.38 per share, during the fourth quarter 2024 for a total of $122 million, or $1.52 per share, for the full-year 2024.

For the full-year 2024, the Company returned $430 million to shareholders through share repurchases and quarterly cash dividends.

The Company’s Board of Directors authorized an 8% increase in the quarterly cash dividend to $0.41 per share, beginning with the dividend expected to be declared in first quarter 2025.

Outlook

The Company provided the following outlook for full-year 2025:

Earnings table

The Company continues to expect marketing fund revenues to equal expenses during full-year 2025 though seasonality of spend will affect the quarterly comparisons throughout the year.

Conference Call Information

Wyndham Hotels will hold a conference call with investors to discuss the Company’s results and outlook on Thursday, February 13, 2025 at 8:30 a.m. ET. Listeners can access the webcast live through the Company’s website at https://investor.wyndhamhotels.com. The conference call may also be accessed by dialing 800 225-9448 and providing the passcode “Wyndham”. Listeners are urged to call at least five minutes prior to the scheduled start time. An archive of this webcast will be available on the website beginning at noon ET on February 13, 2025. A telephone replay will be available for approximately ten days beginning at noon ET on February 13, 2025 at 800 839-5127.

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 franchised properties, with approximately 9,300 hotels across over 95 countries on six continents. Through its network of approximately 903,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 25 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, ECHO Suites®, Registry Collection Hotels®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 114 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit https://investor.wyndhamhotels.com. The Company may use its website and social media channels as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Disclosures of this nature will be included on the Company’s website in the Investors section, which can currently be accessed at https://investor.wyndhamhotels.com or on the Company’s social media channels, including the Company’s LinkedIn account which can currently be accessed at https://www.linkedin.com/company/wyndhamhotels. Accordingly, investors should monitor this section of the Company’s website and the Company’s social media channels in addition to following the Company’s press releases, filings submitted with the Securities and Exchange Commission and any public conference calls or webcasts.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements related to Wyndham’s current views and expectations with respect to its future performance and operations, including revenues, earnings, cash flow and other financial and operating measures, share repurchases and dividends and restructuring charges. Forward-looking statements are any statements other than statements of historical fact, including those that convey management’s expectations as to the future based on plans, estimates and projections at the time Wyndham makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “predict,” “intend,” “goal,” “future,” “forward,” “remain,” “confident,” “outlook,” “guidance,” “target,” “objective,” “estimate,” “projection” and similar words or expressions, including the negative version of such words and expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Wyndham to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, general economic conditions, including inflation, higher interest rates and potential recessionary pressures; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising business; Wyndham’s relationships with franchisees; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflicts between Russia and Ukraine and conflicts in the Middle East, respectively; global or regional health crises or pandemics including the resulting impact on Wyndham’s business, operations, financial results, cash flows and liquidity, as well as the impact on its franchisees, guests and team members, the hospitality industry and overall demand for and restrictions on travel; Wyndham’s ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to Wyndham’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and Wyndham’s ability to make or pay, plans for and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in Wyndham’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. These risks and uncertainties are not the only ones Wyndham may face and additional risks may arise or become material in the future. Wyndham undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.

Partners since 2010, new long-term agreement maintains Barclays US Consumer Bank as exclusive issuer of Wyndham’s award-winning suite of co-brand credit cards

WILMINGTON, Del. (February 11, 2025) – Barclays US Consumer Bank, a leading credit card issuer and financial services partner, today announced the long-term renewal of its co-branded credit card program with Wyndham Hotels & Resorts, the world’s largest hotel franchisor with approximately 9,200 hotels across more than 95 countries.

Under the newly signed agreement, Barclays will continue to be the exclusive issuer of the Wyndham Rewards Earner^® Plus Card, Wyndham Rewards Earner^® Card, and Wyndham Rewards Earner^® Business Card. The award-winning suite of cards—designed specifically for road trippers and road warriors—offers up to 8x earn on gas purchases and Wyndham hotel stays, up to 5x earn on marketing, advertising and utility purchases (Wyndham Rewards Earner Business Card only) and up to 4x earn on restaurant and grocery purchases. Other benefits include Wyndham Rewards membership upgrades, booking discounts, anniversary bonuses and more.

“As champions of the everyday traveler, Wyndham is always looking for new ways to help our members stay engaged—both on the road and off,” said Kurt Albert, treasurer and head of financial partnerships and planning, Wyndham Hotels & Resorts. “Our suite of co-branded cards does just that, making it easy for members to earn points on their everyday spend. Best of all, every card is backed by the power of Barclays, ensuring exceptional service and support every step of the way.”

“We have a shared commitment to creating products that offer cardmembers great value and rewards that enhance their experiences with Wyndham,” said Doug Villone, head of cards and partnerships, Barclays US Consumer Bank. “This long-term contract extension reflects the successful partnership we’ve built and grown since 2010. For more than a decade, we’ve worked together to increase customer loyalty and engagement and look forward to building on this momentum in the years to come.”

Consistently recognized for its simplicity and generous rewards, Wyndham Rewards is the #1 rated hotel rewards program as named by both USA Today and U.S. News & World Report. Members—approximately 112 million enrolled around the world—earn a guaranteed 1,000 points with every qualified stay and can redeem for free nights starting at just 7,500 points. With more than 60,000 hotels, vacation club resorts and vacation rentals globally, no other hotel rewards program is more generous or offers members more places to stay.

To apply or learn more about Wyndham’s co-branded credit card programs, visit Barclaycardus.com. Terms and conditions apply.

###

About Barclays US Consumer Bank
Barclays US Consumer Bank is a leading co-branded credit card issuer and financial services partner in the United States that creates highly customized programs to drive customer loyalty and engagement for some of the country’s most successful travel, entertainment, retail, and affinity institutions. The bank offers co-branded, small business and private label credit cards, installment loans, online savings accounts, and CDs. For more information, please visit BarclaysUS.com.

World’s largest hotel franchisor positioned for long-term success following a year of global expansion, new brand openings and numerous owner and guest investments

PARSIPPANY, N.J. (January 28, 2025) – Following a banner year capping multiple milestones and accomplishments, Wyndham Hotels & Resorts is poised for continued growth and innovation in 2025. Chief among its priorities: complementing its strong foundation of economy and midscale brands with new upscale and lifestyle brands, while scaling technology and digital capabilities to deliver best-in-class experiences for hotel owners and guests.

“We navigated an unforgettable year in 2024, remaining steadfast in our ability to deliver for guests, owners and shareholders. From welcoming our 25^th brand and expanding into new markets, to broadening our bench of aspirational hotels and generating new owner revenue streams via the industry’s best tech platform – 2024’s successes have both Wyndham and our franchisees well positioned for the years ahead.”

– Geoff Ballotti, president and CEO, Wyndham Hotels & Resorts

According to a recent McKinsey study, travel spending reached its highest level last year since 1960—driven by consumers’ shifting preferences for experiences over material goods. And it’s a trend poised to continue. The U.S. Travel Association projects travel spend to grow ~4% to $1.35 trillion in 2025, while recent Skift Research suggests global travel spend to increase by 9%. At the same time, the International Air Transport Association unveiled last month it expects global air travel to reach a record-breaking 5.2 billion passengers in 2025—up ~7% from 2024.

Driving Growth
With recognizable brands spanning every segment of the industry, Wyndham saw continued global growth in 2024, adding a new brand, expanding its presence in key markets and building on its footprint in key segments like extended-stay. Among the highlights, the Company:

Opened its first ECHO Suites® Extended Stay by Wyndham hotels, reinforcing its position as the industry’s fastest-growing all new-construction brand. Early locations are seeing daily occupancy rates as high as 80% within weeks of opening. ECHO now makes up 14% of the Company’s development pipeline.
Expanded its offerings in the booming extended-stay segment with new upscale offerings, including the launch of WaterWalk Extended Stay^SM by Wyndham, its 25^th brand, and the introduction of Wyndham Residences® in the U.S., a new tier within its namesake Wyndham® brand.
Strengthened its portfolio in key countries where it holds a significant presence, including the U.K., India, Türkiye and Mexico, while introducing 12 of its brands into a combined 22 new markets. The Company also announced an exclusive agreement to introduce its Microtel® brand in India, targeting 40 open hotels by 2031.
Joined forces with international lifestyle hospitality group, sbe, to introduce HQ Hotels & Residences^SM, a new “smart lifestyle” brand affiliated with Registry Collection Hotels®. Focused on dining, nightlife and wellness, the brand opens its first hotel in Antigua this quarter: Hodges Bay Resort and Spa, a HQ Luxury Resort and Residences.

Tooled for Success
Delivering on its OwnerFirst® approach to franchising, Wyndham further leveraged its unmatched size and scale in 2024 to provide franchisees with robust tools, solutions and innovative technology, helping them capture more business. Among the highlights, the Company:

Introduced Wyndham Connect^SM, helping hotels increase revenue and curate personalized guest experiences via AI-generated messaging, upsells, mobile check-in and check-out, mobile tipping and more. Approximately 2,000 of the Company’s hotels in North America are regularly engaging with the tool and seeing significant incremental revenue as a result.
Refreshed its Wyndham Business platform, anchored by the new Wyndham Rewards® Business, a B2B extension of Wyndham’s top-rated rewards program. Designed to simplify travel for business of all sizes, the re-imagined program offers rich savings and rewards, streamlined billing, membership upgrades, easy point management and more.
Created new opportunities for its BOLD® by Wyndham and Women Own the Room^SM members—promoting industry mentorship via Accelerator Circle and unlocking third-party financing solutions via investment firm Lafayette Square. Together, BOLD and Women Own the Room have resulted in more than 100 deals with nearly 40 hotels now open.

Championing the Everyday Traveler
Further advancing its mission of making hotel travel possible for all, Wyndham continued championing the everyday traveler in 2024, launching new initiatives that further elevate the guest experience. Among the highlights, the Company:

Expanded its #1 ranked Wyndham Rewards program with new redemption offerings, bringing the total to more than 60,000 hotels, vacation club resorts and vacation rentals globally. No other major hotel rewards program offers members more places to redeem for stays.
Unveiled Wyndham Travel Packages, a one-stop-shop allowing Wyndham Rewards members to book and earn points on hotels, flights, car rentals, airport transfers, and even activities, all-in-one-go via WyndhamRewards.com.
Celebrated 50 Years of Super 8 with the debut of the brand’s new Innov8te 2.0 room design, a limited time consumer promotion and a special anniversary sweepstakes. Super 8 is one of the world’s largest economy hotel brands with over 2,600 locations.
Re-imagined its consumer marketing, leveraging top-tier creative partners to deliver campaigns that hit the right travelers at the right time with unmatched relevance, including the launch of the Company’s first-ever holiday campaign.

For more information about Wyndham Hotels & Resorts, including details on franchising opportunities, visit www.wyndhamdevelopment.com.

###

About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,200 hotels across over 95 countries on six continents. Through its network of approximately 893,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 25 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 112 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit wyndhamhotels.com.

Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements related to Wyndham’s current views and expectations with respect to future growth opportunities and strategies and travel trends. Forward-looking statements are any statements other than statements of historical fact, including those that convey management’s expectations as to the future based on plans, estimates and projections at the time Wyndham makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “predict,” “intend,” “goal,” “future,” “forward,” “remain,” “outlook,” “guidance,” “target,” “objective,” “estimate,” “projection” and similar words or expressions, including the negative version of such words and expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Wyndham to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, general economic conditions, including inflation, higher interest rates and potential recessionary pressures; global or regional health crises or pandemics including the resulting impact on Wyndham’s business, operations, financial results, cash flows and liquidity, as well as the impact on its franchisees, guests and team members, the hospitality industry and overall demand for and restrictions on travel; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising business; Wyndham’s relationships with franchisees; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflicts between Russia and Ukraine and conflicts in the Middle East, respectively; Wyndham’s ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to Wyndham’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and Wyndham’s ability to make or pay, plans for and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in Wyndham’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. These risks and uncertainties are not the only ones Wyndham may face and additional risks may arise or become material in the future. Wyndham undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.

We are deeply saddened by the crisis developing in California and our hearts go out to all those impacted by the California wildfires. Wyndham is proudly supporting American Red Cross relief efforts for the 2025 California Wildfire. Funds raised will help provide food, shelter, emotional support, and other critical aid to communities impacted by the fires.

The Company is enabling Wyndham Rewards® members to assist by donating their Wyndham Rewards points at WyndhamRewards.com. Wyndham will match up to 15 million Wyndham Rewards points through February 28, 2025.

If you are interested in donating Wyndham Rewards points to this important cause, please visit WyndhamRewards.com.

Company Raises Full-Year 2024 EPS Outlook and Reaffirms Remaining Outlook

Grows System Size by 4% and Development Pipeline by 5%

PARSIPPANY, N.J., October 23, 2024 – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended September 30, 2024. Highlights include:

System-wide rooms grew 4% year-over-year.
Opened over 17,000 rooms globally, including nearly 7,000 in the U.S., which increased 15% year-over-year, and the second ECHO Suites Extended Stay by Wyndham.
Awarded 197 development contracts globally, including 95 contracts in the U.S., which increased 10% year-over-year.
Development pipeline grew 1% sequentially and 5% year-over-year to a record 248,000 rooms.
Global RevPAR grew 1% in constant currency.
Ancillary revenues increased 8% compared to third quarter 2023.
Diluted earnings per share increased 7%, to $1.29, and adjusted diluted EPS grew 6%, to $1.39, or approximately 10% on a comparable basis.
Net income was $102 million for the third quarter, a 1% decrease over the prior-year quarter; adjusted net income was $110 million, a 1% decrease over the prior-year quarter, or a 3% increase on a comparable basis.
Adjusted EBITDA increased 4% compared with the prior-year quarter, to $208 million, or 7% on a comparable basis.
Returned $126 million to shareholders through $97 million of share repurchases and quarterly cash dividends of $0.38 per share.

“Our teams around the world once again delivered exceptional results, executing our long-term growth strategy and achieving 7% growth in comparable adjusted EBITDA fueled by continued system expansion, higher royalty rates and growth in our ancillary revenues,” said Geoff Ballotti, president and chief executive officer. “We awarded 10% more franchise contracts domestically this quarter, driving 5% growth in our development pipeline. Stabilizing RevPAR trends and improving comparisons coupled with increased infrastructure demand are expected to pave the way for improved results in the coming quarters. We remain steadfast in our long-term strategy, aimed at delivering outstanding value to our guests, franchisees and shareholders to whom we’ve returned nearly $380 million year-to-date in the form of dividends and share repurchases.”

System Size and Development

Table

The Company’s global system grew 4%, reflecting 1% growth in the U.S. and 8% internationally. As expected, these increases included 3% growth in the higher RevPAR midscale and above segments in the U.S., as well as strong growth in the Company’s EMEA and Latin America regions, which each grew 11%. The Company continued to improve its retention rate and remains solidly on track to achieve its net room growth outlook of 3 to 4% for the full year 2024.

On September 30, 2024, the Company’s global development pipeline consisted of approximately 2,100 hotels and 248,000 rooms, representing another record-high level and a 5% year-over-year increase. Key highlights include:

7% growth in the U.S. and 3% internationally
17^th consecutive quarter of sequential pipeline growth
Approximately 70% of the pipeline is in the midscale and above segments, which grew 6% year-over-year
Approximately 14% of the pipeline represents ECHO Suites Extended Stay by Wyndham for which the Company has awarded a total of 283 contracts since its launch.
Approximately 58% of the pipeline is international
Approximately 79% of the pipeline is new construction and approximately 35% of these projects have broken ground
During the third quarter of 2024, the Company awarded 197 new contracts, including 95 contracts in the U.S., which increased 10% year-over-year.

RevPAR

Earnings table

Third quarter global RevPAR increased 1% in constant currency compared to 2023, reflecting a 1% decline in the U.S. and 7% growth internationally.

In the U.S., RevPAR for the Company’s midscale and above segments was unchanged year-over-year while RevPAR for its economy segment declined 2% reflecting a modest acceleration from the second quarter with a sequential improvement of 10 basis points. Additionally, the Company’s U.S. economy brands continued to strengthen their position, gaining 50 basis points of market share in the third quarter driven by performance in oil and gas markets, which grew 250 basis points in the quarter, and in the five states with the highest infrastructure bill spend, which collectively grew 80 basis points. U.S. occupancy remained consistent, highlighting the resilience of the select-service space and consumer demand for these products.

Internationally, RevPAR for the Company’s EMEA, Latin America and Canada regions collectively increased 13% due to both continued pricing power, with ADR up 11%, and occupancy growth of 2%. RevPAR for the Company’s APAC region declined 7% driven by a 2% decrease in occupancy and a 5% decrease in ADR. Importantly, the third quarter RevPAR performance for APAC represented a 500 basis point sequential improvement.

Third Quarter Operating Results

Fee-related and other revenues were $394 million compared to $400 million in third quarter 2023, which included $18 million of pass-through revenues associated with the Company’s 2023 global franchisee conference, absent which, fee-related and other revenue increased 3%. The growth in fee-related and other revenues reflects higher royalties and franchise fees and ancillary revenues.
The Company generated net income of $102 million compared to $103 million in third quarter 2023. The decrease was primarily reflective of higher interest expense, partially offset by higher adjusted EBITDA.
Adjusted EBITDA grew 4% to $208 million compared to $200million in third quarter 2023. This increase included a $5 million unfavorable impact from marketing fund variability, excluding which adjusted EBITDA grew 7% on a comparable basis, primarily reflecting higher royalties and franchise fees, increased ancillary revenues and margin expansion.
Diluted earnings per share was $1.29 compared to $1.21 in third quarter 2023. This increase primarily reflects the benefit of a lower share count due to share repurchase activity.
Adjusted diluted EPS grew 6% to $1.39 compared to $1.31 in third quarter 2023. This increase included an unfavorable impact of $0.04 per share related to expected marketing fund variability (after estimated taxes). On a comparable basis, adjusted diluted EPS increased approximately 10% year-over-year reflecting comparable adjusted EBITDA growth and the benefit of share repurchase activity, partially offset by higher interest expense.
During third quarter 2024, the Company’s marketing fund revenues exceeded expenses by $12 million, in line with expectations; while in third quarter 2023, the Company’s marketing fund revenues exceeded expenses by $17 million, resulting in $5 million of marketing fund variability. The Company continues to expect marketing fund revenues to roughly equal expenses during full-year 2024.

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

Balance Sheet and Liquidity

The Company generated $79 million of net cash provided by operating activities and $96 million of adjusted free cash flow in third quarter 2024. The Company ended the quarter with a cash balance of $72 million and approximately $750 million in total liquidity.

The Company’s net debt leverage ratio was 3.5 times at September 30, 2024, the midpoint of the Company’s 3 to 4 times stated target range.

During the third quarter of 2024, the Company executed $350 million of new interest rate swaps on its Term Loan B Facility, which will expire in 2028. The fixed rate of the new swaps is 3.3%. As a result, the Company ended the third quarter with approximately 80% of its total debt at a fixed rate and 20% variable.

Share Repurchases and Dividends

During the third quarter, the Company repurchased approximately 1.3 million shares of its common stock for $97 million. Year-to-date through September 30, the Company repurchased approximately 3.8 million shares of its common stock for $285 million.

The Company paid common stock dividends of $29 million, or $0.38 per share, during the third quarter 2024 and $92 million, or $1.14 per share, year-to-date.

Full-Year 2024 Outlook

The Company is refining its outlook as follows:

Earnings table

Year-over-year growth rates for adjusted EBITDA, adjusted net income and adjusted diluted EPS are not comparable due to full-year 2023 marketing fund revenues exceeding expenses by $9 million, which substantially completed the recovery of the $49 million support the Company provided to its owners during COVID. The Company continues to expect marketing fund revenues to equal expenses during full-year 2024 though seasonality of spend will affect the quarterly comparisons throughout the year.

Conference Call Information

Wyndham Hotels will hold a conference call with investors to discuss the Company’s results and outlook on Thursday, October 24, 2024 at 8:30 a.m. ET. Listeners can access the webcast live through the Company’s website at https://investor.wyndhamhotels.com. The conference call may also be accessed by dialing 800 579-2543 and providing the passcode “Wyndham”. Listeners are urged to call at least five minutes prior to the scheduled start time. An archive of this webcast will be available on the website beginning at noon ET on October 24, 2024. A telephone replay will be available for approximately ten days beginning at noon ET on October 24, 2024 at 800 695-0715.

Presentation of Financial Information

About Wyndham Hotels & Resorts

Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,200 hotels across over 95 countries on six continents. Through its network of approximately 893,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 25 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 112 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit https://investor.wyndhamhotels.com. The Company may use its website and social media channels as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Disclosures of this nature will be included on the Company’s website in the Investors section, which can currently be accessed at https://investor.wyndhamhotels.com or on the Company’s social media channels, including the Company’s LinkedIn account which can currently be accessed at https://www.linkedin.com/company/wyndhamhotels. Accordingly, investors should monitor this section of the Company’s website and the Company’s social media channels in addition to following the Company’s press releases, filings submitted with the Securities and Exchange Commission and any public conference calls or webcasts.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements related to Wyndham’s current views and expectations with respect to its future performance and operations, including revenues, earnings, cash flow and other financial and operating measures, share repurchases and dividends and restructuring charges. Forward-looking statements are any statements other than statements of historical fact, including those that convey management’s expectations as to the future based on plans, estimates and projections at the time Wyndham makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “predict,” “intend,” “goal,” “future,” “forward,” “remain,” “outlook,” “guidance,” “target,” “objective,” “estimate,” “projection” and similar words or expressions, including the negative version of such words and expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Wyndham to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, general economic conditions, including inflation, higher interest rates and potential recessionary pressures; global or regional health crises or pandemics including the resulting impact on Wyndham’s business, operations, financial results, cash flows and liquidity, as well as the impact on its franchisees, guests and team members, the hospitality industry and overall demand for and restrictions on travel; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising business; Wyndham’s relationships with franchisees; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflicts between Russia and Ukraine and conflicts in the Middle East, respectively; Wyndham’s ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to Wyndham’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and Wyndham’s ability to make or pay, plans for and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in Wyndham’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. These risks and uncertainties are not the only ones Wyndham may face and additional risks may arise or become material in the future. Wyndham undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.

Exclusive development agreement with NILE Hospitality LLP targets 40 hotels open by 2031, fuelled by increased inbound and domestic tourism

LONDON (17 October 2024) – Wyndham Hotels & Resorts has signed an exclusive development agreement with NILE Hospitality LLP to introduce its Microtel by Wyndham brand to India, marking the eighth Wyndham brand to debut in the country. This strategic alliance enables Wyndham to leverage a leading regional third-party developer and operator to bring its award-winning brand to India.

With Wyndham’s global presence and NILE’s expertise across India, the Company anticipates opening 40 Microtel hotels by 2031, all of which will be direct franchisees of Wyndham, as part of its ambitious and robust growth strategy. The agreement underscores the Company’s commitment to expanding in one of the world’s most dynamic growing hospitality markets, where it currently has 60 hotels open throughout India and expects to grow by at least 25% in the next 18 months.

A pioneer in efficiency, Microtel by Wyndham is known for its modern design, exceptional service and value-driven guest experiences, making it one of the most trusted names in the economy hotel segment. Wyndham’s agreement with NILE will see development of the brand in key Tier II, III and IV cities, in line with India’s infrastructure development cycle, with the first hotels opening in 2025. Each will have a minimum of 50 keys and feature meeting and social spaces, gyms and other facilities based on the needs of the region.

“We continue to see incredible opportunity in India, which is why we’re focusing our strategic efforts on introducing more of our diverse brands to the country. Microtel is an ideal example of a brand that can be purpose-built for the market and with the continued collaboration with trusted partners like NILE Hospitality, we can quickly scale to meet growing demand.”

– Dimitris Manikis, President EMEA, Wyndham Hotels & Resorts

“Wyndham is a proven partner for NILE and this is just the latest chapter in our combined growth story as we aim to collectively tap into India’s rapidly expanding economy lodging segment. By introducing Microtel, we’ll be able to propel development in a robust domestic market while further tapping into the scale and resources of the world’s largest hotel franchisor. It’s an ideal match and reflection of our shared ambition to grow and build together.”

– Vikram Singh Chauhan, Founder and CEO, NILE Hospitality LLP

The Wyndham Advantage
Wyndham franchisees throughout the EMEA region benefit from the Wyndham Advantage—a combination of world-class marketing, distribution and other resources designed to put owners on the path to success. Inclusive of nearly $325 million in innovative technology investments over the past six years, owners have access to best-in-class technology from industry-leading providers, including next-gen property management systems, as well as a growing member base of approximately 110 million enrolled Wyndham Rewards members who make up more than a third of all check-ins globally.

Wyndham Rewards is the number one hotel rewards program, as named by both USA Today and U.S. News and World Report, with more than 60,000 hotels, vacation club resorts and vacation rentals. Wyndham Rewards is the only hotel loyalty program where members earn a guaranteed 1,000 points with every qualified stay. Members can easily redeem points towards free nights at tens of thousands of hotels, vacation club resorts and vacation rentals around the world or a host of other rewards like tours, activities, gift cards, shopping and more. Offering three simple redemption tiers, free nights start at just 7,500 points per bedroom per night, while discounted nights start at just 1,500 points per bedroom per night.

For more information on franchising opportunities with Wyndham, visit whrdevelopmentemea.com.

Images associated with this release can be downloaded here.

###

About Microtel by Wyndham
Microtel® by Wyndham is an award-winning chain of more than 360 economy hotels located throughout North America, Asia and New Zealand. Consistently over-delivering on both guest and owner expectations, Microtel ranks best-in-class by organizations like The Harris Poll®. Microtel’s rich award-recognized heritage is backed by 18 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 NILE Hospitality LLP

NILE Hospitality, founded in 2018, is a leading hotel management and development company in South Asia. Our unique understanding of Indian region’s hospitality business distinguishes us as a leader in service, performance and quality. Our reputation for consistently delivering outstanding results to our owners and upholding brand positioning of our hotels make us the preferred partners of Hotel Management in the sub-continent. Our dynamic team comes with an experience of leading international hotel brands in all phases of hotel operations, sales and marketing and development.

Our vision is to ensure that our every guest is seen, heard and met at our hotels and return home with memories of exceptional hospitality.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements related to Wyndham’s current views and expectations with respect to expected hotel openings and the timing thereof. Forward-looking statements are any statements other than statements of historical fact, including those that convey management’s expectations as to the future based on plans, estimates and projections at the time Wyndham makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “predict,” “intend,” “goal,” “future,” “forward,” “remain,” “outlook,” “guidance,” “target,” “objective,” “estimate,” “projection” and similar words or expressions, including the negative version of such words and expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Wyndham to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, general economic conditions, including inflation, higher interest rates and potential recessionary pressures; global or regional health crises or pandemics (such as the COVID-19 pandemic) including the resulting impact on Wyndham’s business, operations, financial results, cash flows and liquidity, as well as the impact on its franchisees, guests and team members, the hospitality industry and overall demand for and restrictions on travel; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising business; Wyndham’s relationships with franchisees; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflicts between Russia and Ukraine and between Israel and Hamas, respectively; Wyndham’s ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to Wyndham’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and Wyndham’s ability to make or pay, plans for and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in Wyndham’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. These risks and uncertainties are not the only ones Wyndham may face and additional risks may arise or become material in the future. Wyndham undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.

Company Raises Full-Year 2024 EPS Outlook

Company Grows Development Pipeline by 7% and System Size by 4%

PARSIPPANY, N.J (July 24, 2024) – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended June 30, 2024. Highlights include:

Global RevPAR grew 2% in constant currency.
System-wide rooms grew 4% year-over-year.
Opened over 18,000 rooms globally, including over 7,000 in the S., which represented a year- over-year increase of 16%, and the first ECHO Suites Extended Stay by Wyndham.
Awarded 180 development contracts globally, including 96 contracts in the S., which represented an increase of 33% year-over-year.
Development pipeline grew 1% sequentially and 7% year-over-year to a record 245,000 rooms.
Ancillary revenues increased 6% compared to second quarter 2023.
Diluted earnings per share increased 30%, to $1.07, and adjusted diluted EPS grew 22%, to $1.13, or 12% on a comparable basis.
Net income was $86 million for the second quarter, a 23% increase over the prior-year quarter; adjusted net income was $91 million, a 14% increase over the prior-year quarter.
Adjusted EBITDA increased 13% compared with the prior-year quarter, to $178 million, or 6% on a comparable basis.
Returned $162 million to shareholders through $131 million of share repurchases and quarterly cash dividends of $0.38 per share.
Successfully completed the repricing of its Term Loan B Facility, reducing its interest rate by 60 basis points to SOFR plus 1.75%, and upsizing the facility by $400 million.

“The resilience and highly cash generative nature of our business model was once again on full display this quarter,” said Geoff Ballotti, president and chief executive officer. “Amid a normalizing domestic RevPAR environment, we delivered strong adjusted EBITDA driven by net room and ancillary fee growth. We awarded 33% more hotel contracts domestically which grew our development pipeline to a record 245,000 rooms, and drove significant increases in our U.S, international and global royalty rates. Year-to-date, we’ve returned over $250 million to shareholders, representing 4% of our beginning market capitalization this year.”

System Size and Development

The Company’s global system grew 4%, reflecting 1% growth in the U.S. and 8% internationally. As expected, these increases included 3% growth in the higher RevPAR midscale and above segments in the U.S., as well as strong growth in the Company’s two highest international RevPAR regions, EMEA and Latin America, which grew 12% and 11%, respectively. The Company continued to improve its retention rate and remains solidly on track to achieve its net room growth outlook of 3 to 4% for the full year 2024.

On June 30, 2024, the Company’s global development pipeline consisted of approximately 2,000 hotels and 245,000 rooms, representing another record-high level and a 7% year-over-year increase. Key highlights include:

5% growth in the S. and 9% internationally
16^th consecutive quarter of sequential pipeline growth
Approximately 70% of the pipeline is in the midscale and above segments, which grew 4% year-over- year
Approximately 14% of the pipeline represents ECHO Suites Extended Stay by
Approximately 58% of the pipeline is international
Approximately 79% of the pipeline is new construction, of which approximately 35% has broken ground
During the second quarter of 2024, the Company awarded 180 new contracts, including 96 contracts in the U.S., which represented an increase of 33% year-over-year.

RevPAR

Second quarter global RevPAR increased 2% in constant currency compared to 2023, reflecting flat growth in the U.S. and 7% growth internationally.

In the U.S., the Company’s midscale and above segments grew RevPAR 2% year-over-year while RevPAR for its economy segment declined 2%. Overall, U.S. RevPAR results were driven by growth of 90 basis points in occupancy, partially offset by a decline of 50 basis points in ADR. Importantly, RevPAR growth in the U.S. accelerated during the second quarter, improving 520 basis points sequentially, including an improvement of 560 basis points for its U.S. economy brands.

Compared to 2019, which neutralizes the impact of COVID recovery timing, the Company grew RevPAR for its economy and midscale brands by 9% and 8%, respectively, while RevPAR for its upscale and above brands continued to lag 2019 by 2%.

Internationally, RevPAR for the Company’s Latin America, EMEA and Canada regions collectively increased 15% due to both continued pricing power, with ADR up 13%, and occupancy growth of 2%. RevPAR for the Company’s APAC region declined 12% primarily due to a difficult year-over-year comparison resulting from that region’s COVID recovery timing in second quarter 2023. APAC occupancy declined 7% and ADR declined 5%.

Compared to 2019, which neutralizes the impact of COVID recovery timing, the Company more than doubled the RevPAR for its Latin America, EMEA and Canada regions, while RevPAR for its APAC region continued to lag 2019 by 11%.

Second Quarter Operating Results

Fee-related and other revenues were $366 million compared to $358 million in second quarter 2023, reflecting global net room growth of 4% and a 6% increase in ancillary revenue streams, partially offset by a $3 million decline in management fees, in part due to the exit of the Company’s S. management business.
The Company generated net income of $86 million compared to $70 million in second quarter The increase was primarily reflective of higher adjusted EBITDA, a benefit in connection with the reversal of a spin-off related matter and a lower effective tax rate, partially offset by higher interest expense and restructuring costs.
Adjusted EBITDA grew 13% to $178 million compared to $158 million in second quarter 2023. This increase included a $10 million favorable impact from marketing fund variability, excluding which adjusted EBITDA grew 6% primarily reflecting higher fee-related and other revenues, disciplined cost management given the recent RevPAR environment as well as a benefit from insurance recoveries.
Diluted earnings per share was $1.07 compared to $0.82 in second quarter 2023. This increase reflects higher net income and the benefit of a lower share count due to share repurchase activity.
Adjusted diluted EPS grew 22% to $1.13 compared to $0.93 in second quarter 2023. This increase included $0.09 per share related to expected marketing fund variability (after estimated taxes). On a comparable basis, adjusted diluted EPS increased 12% year-over-year reflecting comparable adjusted EBITDA growth and the benefit of share repurchase activity partially offset by higher interest expense.
During second quarter 2024, the Company’s marketing fund expenses exceeded revenues by $5 million, in line with expectations; while in second quarter 2023, the Company’s marketing fund expenses exceeded revenues by $15 million, resulting in $10 million of marketing fund The Company continues to expect marketing fund revenues to equal expenses during full-year 2024.

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

Balance Sheet and Liquidity
The Company generated $1 million of net cash provided by operating activities (inclusive of $42 million of payments related to the Company’s successful defense of a hostile takeover attempt) and generated adjusted free cash flow of $69 million in second quarter 2024. The Company ended the quarter with a cash balance of

$70 million and approximately $820 million in total liquidity.

The Company’s net debt leverage ratio was 3.5 times at June 30, 2024, the midpoint of the Company’s 3 to 4 times stated target range.

In May 2024, the Company successfully repriced and upsized its outstanding Senior Secured Term Loan B Facility (“Prior Term Loan B”). The new Senior Secured Term Loan B Facility (“New Term Loan B”) has an outstanding principal balance of $1.5 billion, which includes an upsize of $400 million. The facility has an interest rate of SOFR plus 1.75%, representing a 60 basis point reduction to the Prior Term Loan B.

Share Repurchases and Dividends
During the second quarter, the Company repurchased approximately 1.8 million shares of its common stock for $131 million. Year-to-date through June 30, the Company repurchased approximately 2.6 million shares of its common stock for $188 million.

The Company paid common stock dividends of $31 million, or $0.38 per share, during the second quarter 2024 and $63 million, or $0.76 per share, year-to-date.

The reduction in RevPAR and fee-related and other revenues reflects a more moderated RevPAR acceleration than previously anticipated. The reduction in adjusted net income represents an increase in interest expense due to the upsizing of the Company’s term loan B. This impact was more than offset in adjusted diluted EPS by second quarter share repurchase activity.

Conference Call Information
Wyndham Hotels will hold a conference call with investors to discuss the Company’s results and outlook on Thursday, July 25, 2024 at 8:30 a.m. ET. Listeners can access the webcast live through the Company’s website at https://investor.wyndhamhotels.com. The conference call may also be accessed by dialing 800 245-3047 and providing the passcode “Wyndham”. Listeners are urged to call at least five minutes prior to the scheduled start time. An archive of this webcast will be available on the website beginning at noon ET on July 25, 2024. A telephone replay will be available for approximately ten days beginning at noon ET on July 25, 2024 at 800 757-4764.

About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,200 hotels across over 95 countries on six continents. Through its network of nearly 885,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 25 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 110 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit https://investor.wyndhamhotels.com. The Company may use its website and social media channels as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Disclosures of this nature will be included on the Company’s website in the Investors section, which can currently be accessed at https://investor.wyndhamhotels.com or on the Company’s social media channels, including the Company’s LinkedIn account which can currently be accessed at https://www.linkedin.com/company/wyndhamhotels. Accordingly, investors should monitor this section of the Company’s website and the Company’s social media channels in addition to following the Company’s press releases, filings submitted with the Securities and Exchange Commission and any public conference calls or webcasts.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements related to Wyndham’s current views and expectations with respect to its future performance and operations, including revenues, earnings, cash flow and other financial and operating measures, share repurchases and dividends and restructuring charges. Forward-looking statements are any statements other than statements of historical fact, including those that convey management’s expectations as to the future based on plans, estimates and projections at the time Wyndham makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “predict,” “intend,” “goal,” “future,” “forward,” “remain,” “outlook,” “guidance,” “target,” “objective,” “estimate,” “projection” and similar words or expressions, including the negative version of such words and expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Wyndham to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, general economic conditions, including inflation, higher interest rates and potential recessionary pressures; global or regional health crises or pandemics (such as the COVID-19 pandemic) including the resulting impact on Wyndham’s business, operations, financial results, cash flows and liquidity, as well as the impact on its franchisees, guests and team members, the hospitality industry and overall demand for and restrictions on travel; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising business; Wyndham’s relationships with franchisees; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflicts between Russia and Ukraine and between Israel and Hamas, respectively; Wyndham’s ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to Wyndham’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and Wyndham’s ability to make or pay, plans for and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in Wyndham’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. These risks and uncertainties are not the only ones Wyndham may face and additional risks may arise or become material in the future. Wyndham undertakes no obligation to publicly update or revise any forward- looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.

Contact Us