PARSIPPANY, NJ, February 19, 2019 – Wyndham Rewards®, the world’s most generous rewards program, is about to become even more rewarding this April with plans to introduce a wide-array of new features—from free nights at thousands of hotels starting at just 7,500 points (half their original redemption cost), to the addition of more than 900 La Quinta® hotels, to the ability to earn and redeem points with a host of new and expanded partners.
A direct response to research and feedback from program members, the effort underscores Wyndham’s ongoing commitment to delivering a simple, generous rewards program that’s uniquely designed for the needs of the everyday traveler. Wyndham Rewards currently has approximately 61 million enrolled members worldwide.
“We know members love the simplicity and generosity of Wyndham Rewards but we also know they want greater flexibility when it comes to where and how they can redeem their points,” said Eliot Hamlisch, senior vice president of global loyalty and partnerships at Wyndham Hotels & Resorts. “With these changes, we’re making thousands of hotels available for half the points and what’s more, drastically expanding the ways in which they can earn and redeem those points, making it easier than ever for them to engage with the program.”
Here’s what Wyndham Rewards members have to look forward to come this April:
A Faster Way to Free and Discounted Nights
Empowering more members to redeem points where and how they want, Wyndham Rewards will begin offering three tiers for both free night redemptions (go free) and points + cash redemptions (go fast). Members will also start earning points on the cash portion of points + cash redemptions.
Free Nights Starting at Just 7,500 Points
Free night redemptions will be available at 7,500 points, 15,000 points, and 30,000 points, while points + cash redemptions will be available at 1,500 points + cash, 3,000 points + cash, and 6,000 points + cash, respectively. All redemptions will be per bedroom, per night. Approximately one-third of the program’s hotel portfolio—nearly 3,000 hotels—is expected to move to the more affordable 7,500 point tier while approximately 200 properties will move into the new 30,000 point tier.
Over 30,000 Hotels, Club Resorts, Vacation Rentals and Counting Wyndham Rewards already offers one of the largest, most diverse redemption portfolios in the world and now it’s getting even bigger, from thousands of club resorts and vacation rentals to more than 900 La Quinta hotels.
Wyndham Rewards Welcomes La Quinta La Quinta hotels will officially become a part of Wyndham Rewards on April 3. Free night redemptions will start as low as 7,500 points and with every qualified stay, members will earn 10 points per dollar spent or a minimum of 1,000 points, whichever is more.
More Ways to Earn, More Ways to Redeem Providing more ways to earn and redeem points than ever before, Wyndham Rewards will debut a host of new and expanded partnerships this April. Members can look forward to earning points for food delivery through DoorDash, earning and redeeming points at Marathon gas stations, and earning and redeeming points when booking tours and activities around the globe with Viator. The program will also unveil a new shopping portal, enabling members to earn points on purchases with thousands of online retailers.
Extra Points on Stays
In addition to new earn and redeem partners, Gold, Platinum and Diamond Wyndham Rewards members will be able to earn extra points on their qualified stays with the introduction of accelerated earn. Gold members will earn 10% more in base points, Platinum members will earn 15% more and Diamond members will earn 20% more. Accelerated earn replaces point bonuses, which were previously awarded annually for Platinum and Diamond members.
The vast majority of the above program changes are anticipated to take effect starting April 3, 2019. La Quinta Returns® will officially end at 11:59 p.m. ET on April 2, 2019. Additional information related to earn and redeem opportunities with new partners is expected to be available in late March. For more information on Wyndham Rewards, including full details on the changes and new benefits listed above, visit www.wyndhamrewards.com/comingsoon.
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About Wyndham Rewards
Recently named the number one hotel rewards program by readers of USA TODAY, Wyndham Rewards® is the world’s most generous rewards program with more than 30,000 hotels, club resorts and vacation rentals worldwide. Designed for the everyday traveler, members earn a guaranteed 1,000 points with every qualified stay and may redeem points for a wide-range of rewards, including free nights at any of more than 8,000 hotels or tens of thousands of club resorts and vacation rentals through partnership with Wyndham Destinations (NYSE: WYND) and others. Join for free today at www.wyndhamrewards.com. You’ve earned this.®
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 810,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 61 million enrolled members the opportunity to redeem points at thousands of hotels, club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.
Company Increases Dividend 16% and Provides Full-Year 2019 Projections
PARSIPPANY, N.J., February 13, 2019 – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months and year ended December 31, 2018. Highlights include:
Revenues increased 69% compared with fourth quarter 2017, to $527 million.
Net income was $43 million for the quarter; adjusted net income was $57 million, a 50% increase over the prior-year quarter.
Diluted earnings per share for the quarter were $0.43 and adjusted diluted EPS were $0.58.
Further adjusted diluted EPS for the quarter (calculated as if our spin-off and our acquisition and integration of La Quinta had occurred on January 1) were $0.62.
Adjusted EBITDA increased 64% compared with the prior-year quarter, to $125 million, and grew 19% in constant currency and excluding our 2018 acquisitions and divestitures.
Further adjusted EBITDA for the quarter was $134 million, consistent with our projection of $127 to $138 million.
Global RevPAR increased 8% compared with fourth quarter 2017 and increased 2% in constant currency and excluding our 2018 acquisitions and divestitures.
System-wide rooms grew 11% year-over-year and 2% excluding our 2018 acquisitions and divestitures.
“We finished 2018 with another strong quarter, capping off a year in which we delivered strong adjusted earnings growth fueled by solid RevPAR and rooms growth while acquiring and integrating La Quinta,” said Geoffrey A. Ballotti, chief executive officer. “We expect to continue to build on this strong foundation and are enthusiastic about our prospects for 2019 as we continue to execute our strategies and deploy capital in order to enhance value for shareholders.”
Fourth Quarter 2018 Operating Results
Revenues were $527 million, compared with $312 million in the fourth quarter of 2017. Results reflect $198 million of incremental revenues from La Quinta. Excluding the impact from 2018 acquisitions and divestitures, revenues increased 6% primarily due to higher license and other fees.
Net income was $43 million, or $0.43 per diluted share, compared to $92 million, or $0.92 per diluted share in the fourth quarter of 2017. Fourth quarter 2018 results include separation-related and transaction-related expenses, and fourth quarter 2017 results include impairment expenses and an $85 million tax benefit recorded as a result of the Tax Cuts and Jobs Act.
Adjusted net income was $57 million, or $0.58 per diluted share, compared with $38 million, or $0.38 per diluted share, in the fourth quarter of 2017. Fourth quarter earnings benefited from our revenue growth and a lower effective tax rate, partially offset by higher interest expense. Full reconciliations of GAAP results to our non-GAAP adjusted measures for all reported periods appear in the tables to this press release.
Fourth quarter adjusted EBITDA was $125 million, compared with $76 million in the fourth quarter of 2017. Results reflect approximately $37 million of adjusted EBITDA from La Quinta and are consistent with the Company’s projection of adjusted EBITDA of $117 million to $127 million in the fourth quarter. Excluding the impact from 2018 acquisitions and divestitures, adjusted EBITDA increased 19% in constant currency, primarily reflecting the growth in revenues and the unfavorable effects in 2017 from hurricanes that affected our owned hotel in Puerto Rico.
The Company estimates that, if it had acquired and fully integrated La Quinta on January 1, its further adjusted EBITDA in the fourth quarter would have been $134 million, and its further adjusted diluted earnings per share would have been $0.62. See Tables 5 and 6 for additional information.
Full-Year 2018 Operating Results
Revenues were $1,868 million, compared with $1,280 million in 2017. Results reflect $513 million of incremental revenues from La Quinta. Excluding the impact from 2018 acquisitions and divestitures, revenues increased 6%, primarily due to higher license and other fees, as well as 6% higher royalties and franchise fees.
Net income was $162 million, or $1.62 per diluted share, compared to $230 million, or $2.31 per diluted share in 2017. 2018 results include separation-related and transaction-related expenses, and 2017 results include impairment expenses and an $85 million tax benefit recorded as a result of the Tax Cuts and Jobs Act.
Adjusted net income was $270 million, or $2.71 per diluted share, compared with $186 million, or $1.87 per diluted share, in 2017. 2018 earnings benefited from our revenue growth and a lower effective tax rate, partially offset by higher interest and depreciation expense.
2018 adjusted EBITDA was $507 million, compared with $383 million in 2017. Results reflect approximately
$89 million of adjusted EBITDA from La Quinta and are consistent with the Company’s projection of adjusted EBITDA of $500 million to $510 million for the full year. Excluding the impact from 2018 acquisitions and divestitures, adjusted EBITDA increased 11% in constant currency, primarily reflecting the growth in revenues.
The Company estimates that, if it had acquired and fully integrated La Quinta on January 1, its further adjusted EBITDA in 2018 would have been $600 million, and its further adjusted diluted earnings per share would have been $3.02.
As of December 31, 2018, the Company’s hotel system consisted of approximately 9,200 properties and approximately 810,000 rooms, an 11% increase compared with the fourth quarter of 2017. Room count grew 2% year-over-year, excluding our 2018 acquisitions and divestitures. The Company’s development pipeline grew to over 1,400 hotels and approximately 180,000 rooms, a 21% year-over-year room increase, including approximately 25,000 La Quinta pipeline rooms and the removal of 2,000 Knights Inn pipeline rooms. The Company also increased its pipeline sequentially by 2% compared to the third quarter, including 3% domestic growth and 1% international growth. Approximately 54% of the Company’s development pipeline is international and 73% is new construction.
Fourth Quarter 2018 Business Segment Information
The following discussion of fourth quarter operating results focuses on revenue and adjusted EBITDA for each of our segments.
Hotel Franchising
Revenues increased 37% compared to fourth quarter 2017, including $64 million of incremental revenues from La Quinta. Excluding the impact from 2018 acquisitions and divestitures, revenues increased 8%, primarily due to $13 million of higher license and other fees. Adjusted EBITDA grew 51% to $122 million, including approximately $30 million of incremental adjusted EBITDA from the acquisition of La Quinta. In constant currency and excluding the impact from 2018 acquisitions and divestitures, adjusted EBITDA grew 16%, reflecting the growth in revenues.
Hotel Management
Revenues increased $132 million compared to the prior-year period, reflecting $134 million of incremental revenues from La Quinta (including $124 million of cost-reimbursement revenues). Excluding the impact from the acquisition of La Quinta, revenues declined $2 million. Adjusted EBITDA increased $12 million compared to the prior-year quarter, reflecting $7 million of adjusted EBITDA from La Quinta and a decline in the unfavorable impact from the 2017 hurricanes on our owned hotels.
Other Items
Share Repurchases – The Company repurchased approximately 1.25 million shares of its common stock for $60 million in the fourth quarter. In the seven months after the Company’s May 2018 spin-off, the Company repurchased 2.3 million shares of stock, or 2% of shares outstanding, at a cost of $119 million. At year-end, the Company had 98.1 million shares outstanding.
Dividend Increase – The Company’s Board of Directors authorized a 16% increase in the quarterly cash dividend to 29 cents from 25 cents per share, beginning with the dividend that is expected to be declared in the first quarter of 2019.
Reacquisition of Master License Rights for Days Inn in China – The Company recently announced that it has reacquired the exclusive direct franchising rights for its Days Inn brand in China. The Days Inn system in China consists of more than 70 hotels encompassing more than 12,500 rooms. The near-term earnings contribution from this transaction is not expected to be material, but the Company now owns the exclusive rights to directly franchise and grow the Days Inn brand in China.
Outlook
The Company provided the following outlook for full-year 2019:
Revenues of $2.11 billion to $2.16 billion, an increase of 13% to 16%.
Adjusted net income of $301 million to $313 million.
Adjusted EBITDA of $605 million to $620 million, a year-over-year increase of 19% to 22%, as discussed below.
Adjusted diluted EPS of $3.05 to $3.17, based on an adjusted diluted share count of 98.7 million, which excludes future share repurchases.
Rooms growth of 2% to 4%.
Organic RevPAR growth of 1% to 3% in constant currency.
The Company views its year-over-year growth in adjusted EBITDA as follows (in millions):
More detailed projections are available in Table 6 of this press release. The Company is providing an outlook for net income, EBITDA and EPS only on a non-GAAP, adjusted basis because it is unable to predict with reasonable certainty the occurrence or amount of potential adjustments that may arise in the future.
Conference Call Information
Wyndham Hotels will hold a conference call with investors to discuss the Company’s results and outlook on Wednesday, February 13, 2019 at 8:30 a.m. ET. Listeners can access the webcast live through the Company’s website at www.investor.wyndhamhotels.com. The conference call may also be accessed by dialing 877-876-9174 and providing the passcode “Wyndham”. Listeners are urged to call at least five minutes prior to the scheduled start time. An archive of this webcast will be available on the website for approximately 90 days beginning at noon ET on February 13, 2019. A telephone replay will be available for approximately ten days beginning at noon ET on February 13, 2019 at 800 283-8486.
Presentation of Financial Information
Financial information discussed in this press release includes non-GAAP measures, which include or exclude certain items. These non-GAAP measures differ from reported GAAP results and are intended to illustrate what management believes are relevant period-over-period comparisons and are helpful to investors as an additional tool for further understanding and assessing the Company’s ongoing operating performance.
Exclusion of items in the Company’s non-GAAP presentation should not be considered an inference that these items are unusual, infrequent or non-recurring. Full reconciliations of GAAP results to the comparable non- GAAP measures for the reported periods appear in the financial tables section of this press release.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with approximately 9,200 hotels across more than 80 countries on six continents. Through its network of approximately 810,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award- winning Wyndham Rewards loyalty program offers approximately 61 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rental properties globally. For more information, visit www.wyndhamhotels.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include those that convey management’s expectations as to the future based on plans, estimates and projections at the time Wyndham Hotels makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “intend,” “goal,” “future,” “outlook,” “guidance,” “target,” “estimate” and similar words or expressions, including the negative version of such words and expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Wyndham Hotels to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements contained in this press release include statements related to the Company’s revenues, earnings, cash flow, dividends and other financial and operating measures.
You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Factors that could cause actual results to differ materially from those in the forward- looking statements include without limitation general economic conditions, the performance of financial and credit markets, the economic environment for the hospitality industry, operating risks associated with the hotel franchising and management businesses, the impact of war, terrorist activity or political strife, risks related to our spin-off as a newly independent company and risks related to our ability to obtain financing as well as the risks described in the section titled “Risk Factors” in Wyndham Hotels’ Registration Statement on Form 10 and in Wyndham Hotels’ other filings with the Securities and Exchange Commission. Except as required by law, Wyndham Hotels undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise.
PARSIPPANY, N.J., Jan. 14, 2019 – Wyndham Hotels & Resorts (NYSE: WH) announced today that it will report fourth quarter and full-year 2018 results on Wednesday, February 13, 2019. Geoff Ballotti, President and Chief Executive Officer, and David Wyshner, Chief Financial Officer, will host a call with investors at 8:30 a.m. ET that morning to discuss the Company’s results and business outlook.
Listeners can access the webcast live through the Company’s website at www.investor.wyndhamhotels.com. The conference call may also be accessed by calling 877 876-9174 and providing the passcode “Wyndham”. Listeners are urged to call at least five minutes prior to the scheduled start time. An archive of this webcast will be available on the website for approximately 90 days beginning at noon ET on February 13, 2019. A telephone replay will be available for approximately ten days beginning at noon ET on February 13, 2019 at 800 283-8486.
ABOUT WYNDHAM HOTELS & RESORTS
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with more than 9,000 hotels across more than 80 countries on six continents. Through its network of over 798,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers over 59 million enrolled members the opportunity to redeem points at thousands of hotels, condominiums and holiday homes globally. For more information, visit www.wyndhamhotels.com.
PARSIPPANY, N.J., October 30, 2018 – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended September 30, 2018. Highlights include:
Revenues increased 74% compared with third quarter 2017, to $604 million.
Net income was $58 million for the third quarter; adjusted net income was $85 million, a 39% increase over the prior-year quarter.
Diluted earnings per share were $0.58 and adjusted diluted EPS were $0.85.
Further adjusted diluted EPS (calculated as if our spin-off and our acquisition and integration of La Quinta had occurred on January 1) were $0.93.
Adjusted EBITDA increased 34% compared with the prior-year quarter, to $166 million, and grew 7% in constant currency and excluding our 2018 acquisitions and divestitures.
Further adjusted EBITDA was $177 million, compared to our projection of $166 to $176 million.
Global RevPAR increased 9% year-over-year and 4% in constant currency and excluding our 2018 acquisitions and divestitures.
System-wide rooms grew 13% year-over-year, and 3% excluding our 2018 acquisitions and divestitures.
“We delivered strong results in the third quarter, highlighted by organic and acquisition-related growth in both global RevPAR and our system size,” said Geoffrey A. Ballotti, chief executive officer. “In addition, we made significant progress in the integration of the La Quinta brand, continued to strengthen the quality of our hotel network, and began to see the favorable impact of the ‘By Wyndham’ endorsement of our global brands.”
Revenues were $604 million, compared with $347 million in the third quarter of 2017. Results reflect $238 million of incremental revenues from La Quinta. Excluding the impact from the acquisition of La Quinta, revenues increased 5% primarily due to 4% higher royalties and franchise fees, as well as higher license and other fees.
Net income was $58 million, or $0.58 per diluted share, unchanged from the third quarter of 2017. Third quarter 2018 results include separation-related and transaction-related costs.
Adjusted net income was $85 million, or $0.85 per diluted share, compared with $61 million, or $0.61 per diluted share, in the third quarter of 2017. Third quarter earnings benefited from our revenue growth and a lower effective tax rate, partially offset by higher interest and depreciation and amortization expense. Full reconciliations of GAAP results to our non-GAAP adjusted measures for all reported periods appear in the tables to this press release.
Third quarter adjusted EBITDA was $166 million, compared with $124 million in the third quarter of 2017. Results reflect approximately $39 million of adjusted EBITDA from La Quinta and exceeded the Company’s projection of $155 million to $163 million of adjusted EBITDA. Excluding the impact from 2018 acquisitions and divestitures, adjusted EBITDA increased 7% in constant currency, primarily reflecting the growth in revenues, partially offset by $7 million due to the timing of marketing expenses.
The Company estimates that, if it had fully integrated La Quinta prior to July, its further adjusted EBITDA in the third quarter would have been $177 million, and its further adjusted diluted earnings per share would have been $0.93. See Tables 5 and 6 for additional information.
As of September 30, 2018, the Company’s hotel system consisted of more than 9,000 properties and over 798,000 rooms, a 13% increase compared with the third quarter of 2017. Room count is up 3% year-over-year excluding our 2018 acquisitions and divestitures, and is up 2% year-over-year further excluding the October 2017 acquisition of AmericInn. Our development pipeline increased to nearly 1,400 hotels and over 176,000 rooms, a 20% year-over-year room increase, including over 24,000 La Quinta pipeline rooms and the removal of 2,000 Knights Inn pipeline rooms. Approximately 54% of our pipeline is international and 71% is new construction.
Business Segment Discussion
The following discussion of third quarter operating results focuses on revenue and adjusted EBITDA for each of our segments. The Company’s calculation of adjusted EBITDA now excludes the currency effects of highly inflationary countries.
Hotel Franchising
Revenues increased 35% compared to third quarter 2017, including $72 million of incremental revenues from La Quinta. Excluding the impact of the acquisition of La Quinta, revenues increased 7% primarily due to 6% higher royalties and franchise fees and $16 million of higher license and other fees. The increase in license and other fees primarily represented incremental license fees from Wyndham Destinations. Adjusted EBITDA grew 35% to $178 million, including $35 million of incremental adjusted EBITDA from the acquisition of La Quinta. Excluding the impact from La Quinta, adjusted EBITDA grew 8%, reflecting the growth in revenues, partially offset by the timing of marketing expenses.
Hotel Management
Revenues increased $163 million compared to the prior-year period, reflecting $166 million of incremental revenues from La Quinta (including $154 million of cost-reimbursement revenues). Excluding the impact from the acquisition of La Quinta, revenues declined $3 million. Adjusted EBITDA increased $4 million compared to the prior-year quarter, reflecting $4 million of adjusted EBITDA from La Quinta.
Other Items
Share Repurchases – The Company repurchased approximately 778,000 shares of its common stock for $44 million in the third quarter.
La Quinta Integration – As of September 30, 2018, as planned, the Company has completed substantially all of its planned integration actions other than in the areas of information technology and loyalty, and has terminated approximately 60% of the employees ultimately expected to leave the Company in conjunction with the integration.
Outlook
The Company provided the following outlook, which assumes that its spin-off and the acquisition and integration of La Quinta had all been completed on January 1, 2018, for full-year 2018:
Further adjusted revenues of $2.06 billion to $2.11 billion.
Further adjusted net income of $300 million to $315 million.
Further adjusted EBITDA of $594 million to $605 million.
Further adjusted diluted EPS of $2.99 to $3.13, based on a further adjusted diluted share count of 100.3 million, which excludes future share repurchases.
Rooms growth of 11% to 13%, or 2% to 4% excluding our 2018 acquisitions and divestitures.
Constant currency RevPAR growth of 7% to 8%, or approximately 3% excluding our 2018 acquisitions and divestitures.
More detailed projections are available in Table 6 of this press release. In determining further adjusted metrics, the Company excludes certain items which are otherwise included in determining the comparable GAAP financial measures, as described in Tables 5 and 6 of this press release. The Company is providing an outlook for net income, EBITDA and EPS only on a non-GAAP basis because it is unable to predict with reasonable certainty the occurrence or amount of these adjustments or other potential adjustments that may arise in the future.
Conference Call Information
Wyndham Hotels will hold a conference call with investors to discuss the Company’s results and outlook on Tuesday, October 30, 2018 at 8:30 a.m. ET. Listeners can access the webcast live through the Company’s website at www.investor.wyndhamhotels.com. The conference call may also be accessed by dialing 877-876-9174 and providing the passcode “Wyndham”. Listeners are urged to call at least five minutes prior to the scheduled start time. An archive of this webcast will be available on the website for approximately 90 days beginning at noon ET on October 30, 2018. A telephone replay will be available for approximately ten days beginning at noon ET on October 30, 2018 at 800-695-1624.
Presentation of Financial Information
Financial information discussed in this press release includes non-GAAP measures, which include or exclude certain items. These non-GAAP measures differ from reported GAAP results and are intended to illustrate what management believes are relevant period-over-period comparisons and are helpful to investors as an additional tool for further understanding and assessing the Company’s ongoing operating performance. Exclusion of items in the Company’s non-GAAP presentation should not be considered an inference that these items are unusual, infrequent or non-recurring. Full reconciliations of GAAP results to the comparable non-GAAP measures for the reported periods appear in the financial tables section of this press release.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with more than 9,000 hotels across more than 80 countries on six continents. Through its network of over 798,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers over 59 million enrolled members the opportunity to redeem points at thousands of hotels, condominiums and holiday homes globally. For more information, visit www.wyndhamhotels.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include those that convey management’s expectations as to the future based on plans, estimates and projections at the time Wyndham Hotels makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “intend,” “goal,” “future,” “outlook,” “guidance,” “target,” “estimate” and similar words or expressions, including the negative version of such words and expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Wyndham Hotels to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements contained in this press release include statements related to the Company’s revenues, earnings, cash flow and other financial and operating measures.
You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Factors that could cause actual results to differ materially from those in the forward-looking statements include without limitation general economic conditions, the performance of the financial and credit markets, the economic environment for the hospitality industry, the impact of war, terrorist activity or political strife, operating risks associated with the hotel business, risks related to our spin-off as a newly independent company, uncertainties related to our ability to obtain financing or the terms of such financing, unanticipated developments related to the impact of the spin-off on our relationships with our customers, suppliers, employees and others with whom we have relationships, unanticipated developments resulting from possible disruption to our operations resulting from the spinoff, risks related to our acquisition of the La Quinta hotel franchising and hotel management business, including our ability to achieve expected benefits associated with the transaction, as well as those other risks and uncertainties described in the section titled “Risk Factors” and elsewhere in Wyndham Hotels’ Registration Statement on Form 10, in this press release and in Wyndham Hotels’ other filings with the Securities and Exchange Commission. Except as required by law, Wyndham Hotels undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise.
Global hospitality leader achieves Gold LEED recertification from U.S. Green Building Council, top ENERGYSTAR score, and platinum-level designation as a New Jersey Smart Workplace
PARSIPPANY, N.J. (October 25, 2018) –Wyndham Hotels & Resorts (NYSE: WH), the world’s largest hotel franchising company, has received a Gold recertification from the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) program for the company’s headquarters in Parsippany, N.J. The recertification designates Wyndham Hotels & Resorts corporate campus as one of the highest-performing green buildings in the country, reflecting the Company’s commitment to minimizing its environmental footprint.
LEED is a third-party certification program and premier benchmark for the design, construction and operation of green buildings. It uses a point system to determine the environmental merits of a building, with four levels of certification, depending on how many points the project has earned: certified, silver, gold or platinum. The building received its first Silver Certification for Corporate Interiors in 2010, a second Silver certification for Existing Buildings: Operations and Maintenance (EBOM) in 2013, and this recent Gold EBOM recertification, which was earned through water reduction, green cleaning and indoor air quality management.
“At Wyndham Hotels & Resorts, we’re building on our legacy of developing eco-friendly initiatives across our operations,” said Mary Falvey, chief administrative officer, Wyndham Hotels & Resorts. “We remain committed to implementing innovative environmental practices, not only for our hotel portfolio, but also for our corporate offices, as this effort reduces costs, fosters the efficient use of resources, and supports profitability.”
Wyndham Hotels & Resorts achieved a Gold LEED recertification through site related credits, such as:
Open habitat protection – The building has native vegetation covering a minimum of 25% of the total land area. These natural areas provide a habitat and promote biodiversity.
Storm water management – The Company implemented a storm water management plan to ensure runoff is effectively retained onsite from at least 15% of all precipitation for an average weather year, while also accounting for the potential of above-average rain totals.
Water efficient landscaping – The building eliminated irrigation on mature plant life and utilized natural and adaptive plantings on site to further minimize water usage.
Additionally, over the past five years, the Wyndham Hotels & Resorts’ headquarters building has improved its score for energy efficiency through ENERGY STAR. Supported by the U.S. Environmental Protection Agency, buildings that earn the ENERGY STAR use, on average, 35 percent less energy than their peers.
To help further reduce its carbon footprint at its headquarters in New Jersey, the Company provides sustainable transportation options for employees, earning Wyndham Hotels & Resorts the designation as a 2018 Platinum-level New Jersey Smart Workplace (NJSW) by TransOptions for the seventh year in a row. The NJSW program recognizes employers who have made great strides in providing commuting alternatives, and the company’s perks include premier parking spots for employees who carpool and drive hybrid vehicles, car charging stations for hybrid or electric vehicles, mass transit options, including a free shuttle to/from the local train station.
“The greening efforts at our headquarters building positively affect our people, who are our Company’s best asset,” said Bill Skrzat, chief human resources services officer. “By reducing our carbon footprint and providing commuting alternatives, we are supporting our team members’ best work, which in turn allows them to take the greatest care of our guests and partners.”
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with nearly 9,000 hotels across more than 80 countries on six continents. Through its network of more than 792,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 58 million enrolled members the opportunity to redeem points at thousands of hotels, condominiums and holiday homes globally. For more information, visit www.wyndhamhotels.com.
PARSIPPANY, N.J., Oct. 5, 2018 – Wyndham Hotels & Resorts (NYSE: WH) announced today that it will report third quarter 2018 results on Tuesday, October 30, 2018. Geoff Ballotti, President and Chief Executive Officer, and David Wyshner, Chief Financial Officer, will host a call with investors at 8:30 a.m. ET that morning to discuss the Company’s results and business outlook.
Listeners can access the webcast live through the Company’s website at www.investor.wyndhamhotels.com. The conference call may also be accessed by calling 877-876-9174 and providing the passcode “Wyndham”. Listeners are urged to call at least five minutes prior to the scheduled start time. An archive of this webcast will be available on the website for approximately 90 days beginning at noon ET on October 30, 2018. A telephone replay will be available for approximately ten days beginning at noon ET on October 30, 2018 at 800-723-6062.
ABOUT WYNDHAM HOTELS & RESORTS
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with nearly 9,000 hotels across more than 80 countries on six continents. Through its network of more than 792,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 58 million enrolled members the opportunity to redeem points at thousands of hotels, condominiums and holiday homes globally. For more information, visit www.wyndhamhotels.com.
Wyndham Rewards Expands PGA TOUR Presence, Introduces New $10 Million Bonus Raising
the Stakes for Players Heading into the Wyndham Championship and FedExCup Playoffs.
Wyndham and PGA TOUR officials celebrate the unveiling of the Wyndham Rewards Top 10 at East Lake Golf Club in Atlanta, Ga. From left: Bobby Long, Chairman of the Piedmont-Triad Charitable Foundation; Eliot Hamlisch, Vice President and Leader of the Wyndham Rewards program; Jay Monahan, PGA TOUR Commissioner; Mark Brazil, Tournament Director of the Wyndham Championship; and Steve Holmes, Chairman of Wyndham Hotels & Resorts and Wyndham Destinations.
PARSIPPANY, N.J. (September 18, 2018) – Wyndham Rewards®—the world’s most generous guest rewards program spanning more than 25,000 hotels, club resorts, affiliated resorts and vacation rentals globally—today unveiled plans to expand its presence on the PGA TOUR with the introduction of the Wyndham Rewards Top 10.
A new $10 million bonus to be split among the PGA TOUR’s top 10 regular season finishers, the Wyndham Rewards Top 10 is designed to add a new layer of drama over the course of the regular season, which culminates with the Wyndham Championship, the final event before the FedExCup Playoffs.
While Wyndham has been a proud sponsor of the Wyndham Championship since 2007, this year marked the first year that Wyndham Rewards took the role of proud title sponsor following the split of Wyndham Worldwide into two separate public companies earlier this year: Wyndham Hotels & Resorts, the world’s largest hotel franchise company, and Wyndham Destinations, the world’s largest vacation ownership and exchange company and North America’s largest professionally managed rental business.
“The Wyndham Championship plays a pivotal role in the regular season as it’s the last chance players have to secure a spot in the FedExCup Playoffs,” said Eliot Hamlisch, vice president and leader of the Wyndham Rewards program. “In joining with the PGA TOUR to introduce the Wyndham Rewards Top 10, we’re not only elevating the significance of our own tournament, but also placing a premium on great golf all season long. What’s more, as the world’s most generous rewards program, we couldn’t think of a more fitting way to recognize the PGA TOUR’s best of the best than by saying, ‘You’ve earned this.’”
The Wyndham Rewards Top 10 leader will earn a prize of $2 million, followed by $1.5 million for the runner-up, with decreasing amounts based on position from there. The 10th place finisher will receive $500,000. News of the Wyndham Rewards Top 10 was shared at a PGA TOUR press event earlier today, as the organization kicks off the finale of the FedExCup Playoffs at East Lake Golf Club in Atlanta, Ga. The announcement was complemented with the introduction of a simplified, strokes-based scoring system for the TOUR Championship beginning next season, and the doubling of the total FedExCup bonus pool available to players, which now totals $70 million, inclusive of the prize money from the Wyndham Rewards Top 10.
About Wyndham Rewards Consistently named a best travel rewards program by U.S. News and World Report, Wyndham Rewards® is the world’s most generous loyalty program offering members a simple earning structure of a guaranteed 1,000 points for every qualified stay, along with a flat, free night redemption rate of just 15,000 points per room per night – the first of its kind for a major rewards program. Wyndham Rewards members can enjoy the benefits of the program at more than 8,000 Wyndham Hotels & Resorts (NYSE: WH) properties, as well as tens of thousands of vacation club resorts, affiliated resorts and vacation rentals worldwide in partnership with Wyndham Destinations (NYSE: WYND). Join for free today at www.wyndhamrewards.com. You’ve earned this.®
About the Wyndham Championship Contested annually on the Donald Ross-designed course at Sedgefield Country Club in Greensboro, N.C., the Wyndham Championship was founded in 1938 and is the sixth-oldest event on the PGA TOUR excluding the Majors. The tournament thanks title sponsor Wyndham Rewards and presenting sponsor BB&T for their continued support. Additional tournament information is available at www.wyndhamchampionship.com and the tournament’s social media channels, including the Wyndham Championship Facebook page, Twitter and Instagram.
PARSIPPANY, N.J., August 1, 2018 – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended June 30, 2018, which included its spin-off as an independent public company and the acquisition of La Quinta, adding over 900 hotels and nearly 89,000 rooms to its franchise system. Highlights include:
Revenues increased 31% compared with second quarter 2017, to $435 million.
Net income was $21 million for the second quarter; adjusted net income was $73 million, a 43% increase over the prior-year quarter.
Diluted earnings per share were $0.21 and adjusted diluted EPS were $0.73.
Further Adjusted diluted EPS (calculated as if our spin-off and our acquisition and integration of La Quinta had occurred on January 1) were $0.86, above our projection of $0.79 to $0.84.
Adjusted EBITDA increased 19% compared with the prior-year quarter, to $125 million.
Further Adjusted EBITDA was $159 million, consistent with our projection of $150 to $160 million.
Global RevPAR increased 9% year-over-year and 4% in constant currency and excluding our 2018 acquisitions and divestitures.
System-wide rooms grew 12% year-over-year, and 3% excluding our 2018 acquisitions and divestitures.
“Our team’s sharp focus on executing against our strategic and operating plans allowed us to deliver solid growth, in line with our prior projections, in our initial quarter as an independent public company,” said Geoffrey A. Ballotti, chief executive officer. “We also continued to strengthen our presence in the midscale hotel segment with the addition of the La Quinta brand and its over 900 hotels in May.”
Revenues were $435 million, compared with $331 million in the second quarter of 2017. Results reflect $77 million of incremental revenues from La Quinta. Excluding the impact from the acquisition of La Quinta, revenues increased 8% primarily due to 8% higher royalties and franchise fees, as well as a 17% increase in marketing, reservation and loyalty fees that in 2018 included global franchisee conference revenues that were fully offset by conference-related expenses.
Net income was $21 million compared with $48 million for the second quarter of 2017, reflecting separation-related and transaction-related costs incurred this year. Diluted EPS was $0.21.
Adjusted net income was $73 million, or $0.73 per diluted share, compared with $51 million in the second quarter of 2017. Second quarter earnings benefited from our revenue growth and lower taxes, partially offset by the timing of marketing expenses and higher interest expense. Full reconciliations of GAAP results to our non-GAAP adjusted measures for all reported periods appear in the tables to this press release.
Second quarter adjusted EBITDA was $125 million, compared with $105 million in the second quarter of 2017. Results primarily reflect the growth in revenues and $12 million of adjusted EBITDA from the La Quinta acquisition, partially offset by the timing of marketing expenses.
The Company estimates that, if it had completed its spin-off and had acquired and fully integrated La Quinta prior to April, its Further Adjusted EBITDA in the second quarter would have been $159 million, and its Further Adjusted diluted earnings per share would have been $0.86. See Tables 5 and 6 for additional information.
As of June 30, 2018, the Company’s hotel system consisted of nearly 9,000 properties and more than 792,000 rooms, a 12% increase compared with the second quarter of 2017. Room count is up 3% year-over-year excluding our 2018 acquisitions and divestitures. Our development pipeline increased to nearly 1,400 hotels and over 171,000 rooms, a 13% year-over-year room increase, reflecting the addition of 24,000 La Quinta pipeline rooms and the removal of 2,000 Knights Inn pipeline rooms. Approximately 51% of our pipeline is international and 70% is new construction.
Business Segment Discussion
The following discussion of second quarter operating results focuses on revenue and Adjusted EBITDA for each of our segments.
Hotel Franchising
Revenues increased 24% compared to second quarter 2017, including $26 million of incremental revenues from La Quinta. Excluding the impact of the acquisition of La Quinta and the divestiture of Knights Inn, revenues increased 13% primarily due to 9% higher royalties and franchise fees, as well as a 17% increase in marketing, reservation and loyalty fees that included global franchisee conference revenues. The 9% growth in royalties and franchise fees reflected our 3% room growth and 5% RevPAR growth, excluding 2018 acquisitions and divestitures. Adjusted EBITDA grew 16% to $129 million, including $9 million of incremental Adjusted EBITDA from La Quinta. Excluding the impact from the acquisition of La Quinta, Adjusted EBITDA grew 8% reflecting the growth in royalties and franchise fee revenues, partially offset by a $3 million timing-related increase in marketing expenses compared to marketing fund revenues.
Hotel Management
Revenues increased 49% compared to the prior-year period, reflecting $51 million of incremental revenues from La Quinta (including $46 million of cost-reimbursement revenues). Excluding the impact from the acquisition of La Quinta, revenues declined $3 million reflecting lower cost-reimbursement revenues and lower owned-hotel revenues. Adjusted EBITDA increased by $4 million compared to the prior-year quarter, reflecting $3 million of Adjusted EBITDA from La Quinta.
Other Items
Acquisition of La Quinta – The Company completed the acquisition of La Quinta on May 30, 2018, adding over 900 franchised properties with nearly 89,000 rooms to the Company’s midscale hotel system. The aggregate purchase price was approximately $2 billion, including $240 million of taxes and other items, which we are obligated to pay on behalf of La Quinta Holdings Inc. during the third quarter of 2018. The Company continues to expect to generate $55 million to $70 million in annual synergies in connection with this transaction.
Divestiture of Knights Inn – The Company in May 2018 completed the sale of its Knights Inn brand, consisting of approximately 350 franchised hotels with approximately 21,000 rooms. Knights Inn’s typical franchise agreements were much shorter, and its average U.S. RevPAR was much lower, than the Company’s other brands.
Spin-off from Former Parent Company – On May 31, 2018, the Company completed its spin-off from Wyndham Worldwide through the tax-free distribution of the Company’s stock to shareholders of Wyndham Worldwide Corporation. The Company’s stock began regular-way trading on the New York Stock Exchange under the symbol “WH” on June 1, 2018.
Share Repurchases – Following the completion of the spin-off, the Company repurchased approximately 246,000 shares of its common stock for $15 million in the second quarter.
Outlook
The Company provided the following outlook, which assumes that its spin-off and the acquisition and integration of La Quinta had all been completed on January 1, 2018, for full-year 2018:
Further Adjusted revenues of $1.99 billion to $2.04 billion.
Further Adjusted net income of $300 million to $320 million.
Further Adjusted EBITDA of $590 million to $610 million.
Further Adjusted diluted EPS of $2.98 to $3.18, based on a Further Adjusted diluted share count of 100.6 million, which excludes future share repurchases.
Rooms growth of 11% to 13%, or 2% to 4% excluding our 2018 acquisitions and divestitures.
Constant-currency RevPAR growth of 7% to 8%, or approximately 3% excluding our 2018 acquisitions and divestitures.
More detailed projections are available in Table 6 of this press release. In determining adjusted net income, adjusted EBITDA and adjusted EPS, the Company excludes certain items which are otherwise included in determining the comparable GAAP financial measures, as described in Table 5 of this press release. The Company is providing an outlook for net income, EBITDA and EPS only on a non-GAAP basis because it is unable to predict with reasonable certainty the occurrence or amount of these adjustments or other potential adjustments that may arise in the future.
Conference Call Information
Wyndham Hotels will hold a conference call with investors to discuss the Company’s results and outlook on Wednesday, August 1, 2018 at 8:30 a.m. ET. Listeners can access the webcast live through the Company’s website at www.investor.wyndhamhotels.com. The conference call may also be accessed by dialing 877 876-9176 and providing the passcode “WYNDHAM”. Listeners are urged to call at least five minutes prior to the scheduled start time. An archive of this webcast will be available on the website for approximately 90 days beginning at noon ET on August 1, 2018. A telephone replay will be available for approximately ten days beginning at noon ET on August 1, 2018 at 800 695-1624.
Presentation of Financial Information
Financial information discussed in this press release includes non-GAAP measures, which include or exclude certain items. These non-GAAP measures differ from reported GAAP results and are intended to illustrate what management believes are relevant period-over-period comparisons and are helpful to investors as an additional tool for further understanding and assessing the Company’s ongoing operating performance. Exclusion of items in the Company’s non-GAAP presentation should not be considered an inference that these items are unusual, infrequent or non-recurring. Full reconciliations of GAAP results to the comparable non-GAAP measures for the reported periods appear in the financial tables section of the press release.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company, with nearly 9,000 hotels across more than 80 countries on six continents. Through its network of more than 792,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection®, and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 58 million enrolled members the opportunity to redeem points at thousands of hotels, condominiums and holiday homes globally. For more information, visit www.wyndhamhotels.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include those that convey management’s expectations as to the future based on plans, estimates and projections at the time Wyndham Hotels makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “intend,” “goal,” “future,” “outlook,” “guidance,” “target,” “estimate” and similar words or expressions, including the negative version of such words and expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Wyndham Hotels to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements contained in this press release include statements related to the Company’s revenues, earnings, cash flow and other financial and operating measures.
You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Factors that could cause actual results to differ materially from those in the forward-looking statements include without limitation general economic conditions, the performance of the financial and credit markets, the economic environment for the hospitality industry, the impact of war, terrorist activity or political strife, operating risks associated with the hotel business, risks related to our spin-off as a newly independent company, uncertainties related to Wyndham Hotels’ ability to obtain financing or the terms of such financing, unanticipated developments related to the impact of the spin-off on our relationships with our customers, suppliers, employees and others with whom we have relationships, unanticipated developments resulting from possible disruption to our operations resulting from the spin-off, risks related to our acquisition of the La Quinta hotel franchising and hotel management business, including our ability to achieve expected benefits associated with the transaction, as well as those other risks and uncertainties described in the section titled “Risk Factors” and elsewhere in Wyndham Hotels’ Registration Statement on Form 10, in this press release and in Wyndham Hotels’ other filings with the Securities and Exchange Commission. Except as required by law, Wyndham Hotels undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise.
CONTACTS
Investors:
Matt Capuzzi
Vice President, Investor Relations
973 753-6453 [email protected]
Media:
Nadeen N. Ayala
Senior Vice President, Global Communications
973 753-8054 [email protected]
For additional financial information, please visit our Investor site:
PARSIPPANY, N.J., July 5, 2018 – Wyndham Hotels & Resorts (NYSE: WH) announced today that it will report second quarter 2018 results on Wednesday, August 1, 2018. Geoff Ballotti, President and Chief Executive Officer, and David Wyshner, Chief Financial Officer, will host a call with investors at 8:30 a.m. ET that morning to discuss the Company’s results and business outlook.
Listeners can access the webcast live through the Company’s website at www.investor.wyndhamhotels.com. The conference call may also be accessed by calling 877-876-9176 and providing the passcode “WYNDHAM”. Listeners are urged to call at least ten minutes prior to the scheduled start time. An archive of this webcast will be available on the website for approximately 90 days beginning at noon ET on August 1, 2018. A telephone replay will be available for approximately ten days beginning at noon ET on August 1, 2018 at 800-695-1624.
ABOUT WYNDHAM HOTELS & RESORTS
Wyndham Hotels & Resorts (NYSE: WH) is the largest hotel franchising company in the world, with nearly 9,000 hotels across more than 80 countries on six continents. Through its network of approximately 790,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection® and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards® loyalty program offers more than 56 million enrolled members the opportunity to redeem points at thousands of hotels, condominiums and holiday homes globally. For more information, visit www.wyndhamhotels.com.
PARSIPPANY, N.J., June 4, 2018 – Following its recent acquisition of the La Quinta® hotel brand, Wyndham Hotels & Resorts® (NYSE: WH)—the world’s largest hotel franchising company with nearly 9,000 hotels and 20 powerhouse brands—today announced exciting new benefits for members of its award-winning Wyndham Rewards® loyalty program and members of La Quinta Returns, specifically 1:1 point transfer between the two programs and complimentary status match.
Available starting today, the move enables members of both programs—more than 56 million in Wyndham Rewards and more than 13 million in La Quinta Returns®—to take advantage of a wide range of benefits at a combined portfolio nearly 9,000 hotels around the world as Wyndham works to integrate La Quinta and its La Quinta Returns members into the Wyndham Rewards program by the second quarter of 2019.
“The addition of a brand like La Quinta carries tremendous benefit for all Wyndham Rewards members, not the least of which is expanded access to approximately 900 high-quality, midscale hotels across the globe,” said Eliot Hamlisch, vice president of worldwide loyalty and partnerships at Wyndham Hotels & Resorts. “As our teams work diligently to ensure a smooth integration of the brand into the Wyndham Rewards program, we felt it critically important to enable members of both programs to feel the benefits of the acquisition right away. That starts today with 1:1 point transfer and status match, and in the coming months, will continue as members start seeing La Quinta hotels in their search results on WyndhamRewards.com.”
To take advantage of point transfer and status match, members of both programs should first visit www.wyndhamrewards.com/LQ. Wyndham Rewards Gold members may match to La Quinta Returns Gold status, while Wyndham Rewards Platinum and Diamond members may match to La Quinta Returns Elite status. Similarly, La Quinta Returns Gold and Military Rewards Gold members may match to Wyndham Rewards Gold status, while La Quinta Returns Elite and Military Rewards Elite members may match to Wyndham Rewards Platinum status.
Named a best hotel rewards program for the past three consecutive years by U.S. News and World Report, Wyndham Rewards® is the award-winning loyalty program of Wyndham Hotel Group, offering members a generous points earning structure along with a flat, free night redemption rate—the first of its kind for a major rewards program. Members earn a guaranteed 1,000 points for every qualified stay and can redeem for a free night at any of more than 25,000 hotels, condos or homes around the world for just 15,000 points per room per night. No tricks, just Wyndham Rewards magic. You’ve Earned This®. Join for free today at www.wyndhamrewards.com.
ABOUT WYNDHAM HOTELS & RESORTS
Wyndham Hotels & Resorts (NYSE: WH) is the largest hotel franchising Company in the world, with nearly 9,000 hotels across more than 80 countries on six continents. Through its network of approximately 790,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel Inn & Suites®, La Quinta®, Wingate®, AmericInn®, Hawthorn Suites®, The Trademark Collection® and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services, with more than 400 properties under management. The Company’s award-winning Wyndham Rewards® loyalty program offers more than 56 million enrolled members the opportunity to redeem points at thousands of hotels, condominiums and holiday homes globally. For more information, visit www.wyndhamhotels.com.
Revenues increased 35% compared to third quarter 2017, including $72 million of incremental revenues from La Quinta. Excluding the impact of the acquisition of La Quinta, revenues increased 7% primarily due to 6% higher royalties and franchise fees and $16 million of higher license and other fees. The increase in license and other fees primarily represented incremental license fees from Wyndham Destinations. Adjusted EBITDA grew 35% to $178 million, including $35 million of incremental adjusted EBITDA from the acquisition of La Quinta. Excluding the impact from La Quinta, adjusted EBITDA grew 8%, reflecting the growth in revenues, partially offset by the timing of marketing expenses.
Revenues increased $163 million compared to the prior-year period, reflecting $166 million of incremental revenues from La Quinta (including $154 million of cost-reimbursement revenues). Excluding the impact from the acquisition of La Quinta, revenues declined $3 million. Adjusted EBITDA increased $4 million compared to the prior-year quarter, reflecting $4 million of adjusted EBITDA from La Quinta.
