Corporate News Archives

Board Unanimously Recommends Wyndham Shareholders NOT Tender Shares

Choice Ignores Significant Regulatory and Business Risks and Misleads Wyndham Shareholders and Other Stakeholders with Continued Inconsistent and Inaccurate Statements

Wyndham Board Believes the Company Can Deliver Long-Term Shareholder Value in Excess of the Current $85 Per Share in Cash and Stock Offered by Choice

Visit StayWyndham.com, Where Shareholders and Franchisees Can Get the Facts

PARSIPPANY, N.J. (Dec. 18, 2023) –Wyndham Hotels & Resorts (NYSE: WH) (“Wyndham” or the “Company”), today announced that its Board of Directors, following a comprehensive review with its outside financial and legal advisors, has unanimously determined the unsolicited exchange offer (the “Offer”) from Choice Hotels International, Inc. (NYSE: CHH) (“Choice”) to acquire all outstanding shares of Wyndham is NOT in the best interests of Wyndham and its shareholders. The Wyndham Board of Directors unanimously recommends that shareholders NOT tender any of their shares into the Offer.

“Choice has, once again, failed to address the major value gap and risks of their offer – which remains virtually unchanged from the terms outlined in their previous unsolicited proposal,” said Stephen P. Holmes, Chairman of the Board. “The core issues we have articulated remain the same: a likely prolonged regulatory review period of up to 24 months with an uncertain outcome; the pure inadequacy of the Offer from a valuation standpoint, including the significant equity component of Choice stock; and the lack of consideration for Wyndham’s superior, standalone growth prospects.”

Holmes continued, “Our Board has made itself consistently clear on these risks, but Choice continues to ignore what is in the best interests of Wyndham shareholders by repeatedly proposing illusory and unrealistic offers while making inconsistent and misleading public statements. We are confident Wyndham can deliver long-term shareholder value well in excess of the $85 per share offered by Choice by continuing to execute on our existing business plan. The Board is steadfast in our recommendation that shareholders not tender their shares into this offer, and we remain fully committed to acting in the best interests of all Wyndham shareholders.”

The Company unveiled a presentation detailing the unprecedented antitrust risks this offer presents. The presentation is available on StayWyndham.com.

DOWNLOAD THE INFOGRAPHIC: NO ROOM FOR WRONG CHOICE

Wyndham’s Board of Directors conducted a comprehensive review of the Offer and recommends shareholders reject the Offer for the following reasons:

– The Offer involves an uncertain regulatory timeline and outcome and does not provide sufficient protections and compensation for the asymmetrical risks Wyndham shareholders would face.

– Choice’s Offer would create the largest U.S. provider of hotel franchise services in the chainscales that serve middle-income guests – economy and midscale – with over 55% market share in each, resulting in significant uncertainty as to whether the FTC or courts would ever clear the transaction.

– This complex merger would require an extended period of time to review relative to businesses that are smaller in scope, scale, or competitive intensity.

– The FTC opened a preliminary investigation into the transaction – even before there was an exchange offer or transaction – additional evidence of antitrust concerns and a potential prolonged review process.

– Any extended period between the announcement and closing (or termination) of the transaction exposes Wyndham and its shareholders to meaningful risks, including:

– New business development disruption and deterioration in segment-leading retention rates resulting in impaired earnings growth;

– Competitors (including Choice) capitalizing on franchisee uncertainty;

– Stagnated development of Wyndham’s fast-growing ECHO Suites brand; and

– Increased employee turnover and reduced ability to attract and retain team members.

– Franchisees have vehemently expressed their opposition to a proposed transaction, which heightens the level of business risk and FTC scrutiny.

– The reception from franchisees has been extremely negative.

– AAHOA, which represents roughly two-thirds of Wyndham and Choice franchisees, has been strongly opposed to a potential combination, noting that having one franchisor control so many economy and midscale hotels would be “highly disruptive.”

– The Wyndham Board is concerned that the announcement of a transaction could result in increased franchisee churn and reduced new development activity.

– Choice’s public offer in October has amplified the antitrust risk across the franchisee community and with the FTC. As a result, it has become apparent that the risk and the potential damage to Wyndham and its shareholders would be overwhelming.

– The Offer is inadequate and undervalues Wyndham’s superior, standalone growth prospects.

– The Wyndham Board believes the Company can deliver long-term shareholder value in excess of the $85 per share offered by Choice by continuing to execute on its existing business plan.

– Wyndham has significant embedded upside from its ongoing retention strategy.

– The attractive mix of Wyndham’s record pipeline provides additional opportunity for accelerated net room growth, above-market RevPAR growth and royalty rate expansion.

– Wyndham’s geographic domestic footprint is best positioned to capture unprecedented hotel demand in markets receiving the largest allocation of the Federal Government’s $1.5 trillion Infrastructure Bill.

– Wyndham has launched the fastest-growing brand in the industry, ECHO Suites Extended Stay by Wyndham, appealing to this infrastructure demand.

– Wyndham expects to benefit from ancillary revenue growth including new credit card products, new strategic marketing partnerships and other monetization opportunities.

– Choice’s Offer mischaracterizes Wyndham’s growth potential.

– Choice portrays Wyndham’s growth potential as $9 per share, which is an egregious mischaracterization and fails to reflect the outlook Wyndham provided in its October investor presentation, which provides the roadmap for an incremental $20 per share from EBITDA growth potential over the next two years with an additional $16 per share from the deployment of available capital during that period.

– Importantly this standalone plan does not rely on overleveraging Wyndham’s balance sheet. Rather, Wyndham’s plan can be achieved with leverage remaining in the lower half of Wyndham’s stated target range at 3.5x.

– Additionally, there is further upside from continued multiple expansion. Since completing its spin-off in 2018, Wyndham’s multiple has expanded and continues to close the gap to its peer set average, which currently stands at 15.7 times. Every 1.0x multiple increase could translate into as much as $8 per share of additional value.

– The Offer represents a mere 4% premium to Wyndham’s 52-week high and a 10% premium to Wyndham’s current stock price (as of December 15, 2023).

– Importantly, since the announcement of Choice’s proposal on October 17, 2023, Wyndham’s share price has recovered to 95% of its 52-week high, which is generally consistent with the broader lodging sector performance of 99%.

– Choice’s proposed “ticking fee” is illusory as crafted.

– Choice’s stock is at significant risk for further price degradation, with a slower-growing business. Post-transaction, Choice’s leverage level would surpass all other lodging peers’ average leverage ratios – negatively affecting not only the value of the equity consideration in the Offer, but also limiting Choice’s ability to invest in future growth.

– The Wyndham Board sees the Offer as an attempt by Choice to mask its anemic organic growth by acquiring Wyndham’s global system and capabilities without paying adequate consideration for it to Wyndham shareholders.

– The 45% stock component is subject to volatility and exposes Wyndham shareholders to excessive risks with respect to the value of the consideration received. Choice stock has already dropped by 12% since its initial public offer.

– Choice’s stock appears to be fully valued with significant risk for further degradation. Approximately 70% of covering research analysts rate Choice as a “sell” or “hold” stock. Over 90% of covering analysts rate Wyndham as a “buy.”

– The Offer is subject to a litany of conditions, which make the consummation of the Offer highly uncertain.

– Choice has not arranged committed financing, despite “numerous calls with potential financing sources” (according to its own statements) for more than four months.

– The Offer includes a non-customary “Diligence Condition,” which the Wyndham Board believes is designed solely to serve as a one-way exit option to the Offer in favor of Choice.

The basis for the Board’s decision is set forth in the Solicitation/Recommendation Statement on Schedule 14D-9 (the “Schedule 14D-9”) filed today with the U.S. Securities and Exchange Commission.

The filing and additional materials are available at https://www.staywyndham.com/.

Advisors
Deutsche Bank Securities Inc. and PJT Partners are serving as financial advisors and Kirkland & Ellis LLP and Arnold & Porter Kaye Scholer LLP are legal advisors to Wyndham.

About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,100 hotels across over 95 countries on six continents. Through its network of approximately 858,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 24 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 105 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. The Company may use its website as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Disclosures of this nature will be included on the Company’s website in the Investors section, which can currently be accessed at https://investor.wyndhamhotels.com. Accordingly, investors should monitor this section of the Company’s website in addition to following the Company’s press releases, filings submitted with the Securities and Exchange Commission and any public conference calls or webcasts.

Important Additional Information
This press release is not an offer to purchase or a solicitation of an offer to sell any securities or the solicitation of any vote or approval. Wyndham Hotels & Resorts, Inc. (“Wyndham” or the “Company”) has filed with the U.S. Securities and Exchange Commission (the “SEC”) a solicitation/recommendation statement on Schedule 14D-9. Any solicitation/recommendation statement filed by the Company that is required to be mailed to stockholders will be mailed to Company stockholders. COMPANY STOCKHOLDERS ARE ADVISED TO READ THE COMPANY’S SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BEFORE MAKING ANY DECISION WITH RESPECT TO ANY EXCHANGE OFFER BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.

Company stockholders may obtain a copy of the Solicitation/Recommendation Statement on Schedule 14D-9, as well as any other documents filed by the Company in connection with any exchange offer by Choice Hotels International, Inc. or one of its affiliates, free of charge at the SEC’s website at www.sec.gov. In addition, investors and security holders will be able to obtain free copies of these documents from the Company by directing a request to Matt Capuzzi, Senior Vice President, Investor Relations at [email protected] or by calling 973.753.6453.

The Company intends to file a proxy statement and accompanying WHITE proxy card with the SEC with respect to the Company’s 2024 Annual Meeting of Stockholders (the “2024 Annual Meeting”). The Company’s stockholders are strongly encouraged to read such proxy statement, the accompanying WHITE proxy card and other documents filed with the SEC carefully in their entirety when they become available because they will contain important information. The Company’s stockholders will be able to obtain any proxy statement, any amendments or supplements to the proxy statement and other documents filed by the Company with the SEC free of charge at the SEC’s website at www.sec.gov. Copies will also be available free of charge at the Company’s website at https://investor.wyndhamhotels.com.

Certain Information Concerning Participants
Wyndham and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies under the rules of the SEC. Information regarding the Company’s directors and officers and their respective interests in the Company by security holdings or otherwise is available in its most recent Annual Report on Form 10-K filed with the SEC on February 16, 2023 and its most recent definitive Proxy Statement on Schedule 14A filed with the SEC on March 28, 2023. To the extent holdings of the Company’s securities have changed since the filing of the Company’s most recent Annual Report on Form 10-K or the Company’s most recent definitive Proxy Statement on Schedule 14A, such changes have been reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Updated information relating to the foregoing will also be set forth in the Company’s proxy statement and other materials to be filed with the SEC for its 2024 Annual Meeting. These documents can be obtained free of charge from the sources indicated above.

Cautionary Statement on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including statements related to the offer. Wyndham claims the protection of the Safe Harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements. Forward-looking statements include those that convey management’s expectations as to the future based on plans, estimates and projections at the time Wyndham makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “intend,” “goal,” “future,” “outlook,” “guidance,” “target,” “objective,” “estimate,” “projection” and similar words or expressions, including the negative version of such words and expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Wyndham to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of hereof.

Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation: factors relating to the offer; general economic conditions, including inflation, higher interest rates and potential recessionary pressures; the effects from the coronavirus pandemic, including the impact on Wyndham’s business, as well as the impact on its franchisees, guests and team members, the hospitality industry and overall demand for and restrictions on travel; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising business; Wyndham’s relationships with franchisees; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflicts between Russia and Ukraine and between Israel and Hamas; Wyndham’s ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to Wyndham’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and Wyndham’s ability to make or pay, plans for and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in Wyndham’s most recent Annual Report on Form 10-K filed with the SEC and subsequent reports filed with the SEC. Wyndham undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.

Conquering festive fizzle-out head-on, the Holiday Hype Machine lets co-workers, friends and loved ones send personalized videos to anyone in need of a boost to tackle end-of-year work obligations

PARSIPPANY, N.J. (November 13, 2023) – Last-minute deadlines, performance reviews, unexpected travel—crossing that end-of-year finish line can be tough for any business traveler. Enter La Quinta® by Wyndham—the award-winning hotel brand known for helping business travelers be at their best—and its new Holiday Hype Machine, a personalized video-sharing experience where users can create and share custom hype-up messages with co-workers, friends, and family in need of an extra boost to conquer their holiday doldrums.

Bringing the Holiday Hype Machine to life, La Quinta enlisted the expertise of New York Giants wide-receiver, Sterling Shepard. No stranger to stirring up enthusiasm on the field, Shepard is one of football’s most energetic players, known for being the ultimate hype man for his teammates. This season, he’s officially adding a La Quinta uniform to his collection as Holiday Hype Man, firing up business travelers as he helps them tackle the obstacles keeping them from finishing the year on a high note. And it couldn’t be more needed, research shows that nearly one-half of the workforce hits “festive fizzle out” by December 18.

“Every great team needs a hype man, whether that’s on a football field or in an office, success relies on teammates keeping you motivated through those challenging moments,” said Shepard. “I have always loved the holiday season, but as someone who spends much of my time on the road this time of year, I know first-hand how chaotic it can feel to balance it all. As La Quinta’s Holiday Hype Man, I’m ready to put on my hype man suit and help people crush those end of year to-dos!”

With a few simple clicks and a sprinkle of holiday magic, hype enthusiasts can activate the Holiday Hype Machine to send personalized, hype video messages from Shepard sure to get their loved ones jingling all the way through the holiday – and end of fiscal – hustle and bustle. Simply answer a few questions about the recipient—What kind of traveler are they? What do they need hyped up about? And voila, the Holiday Hype Machine generates a custom hype video from Sterling that can be shared via email or text. Recipients can also share on their favorite social media platform or click to create a hype video of their own.

“We know our guests are champions at juggling it all while on the road — but it’s no surprise that there’s always extra pressure around the holidays to get things done,” said Krishna Paliwal, president, La Quinta by Wyndham. “That’s where La Quinta comes in. Our job is to be the bright spot in your journey, taking care of the little things—reliable Wi-Fi, a comfy bed, a filling breakfast, a great fitness center and now, spreading some extra hype —so that you can focus on the big things and get the job done right.”

Now through December 31, 2023, those seeking to spread extra holiday cheer can access the Holiday Hype Machine and share a custom video with friends and co-workers, for free. Learn more and send a video by visiting lq.com/hype.

About La Quinta by Wyndham
With over 920 destinations globally, La Quinta by Wyndham is a bright spot in every traveler’s journey. The brand offers thoughtful amenities, friendly service and consistently delivers an exceptional guest experience ensuring travelers wake up on the bright side. For more information, visit www.lq.com. Like and follow La Quinta on Facebook and YouTube. For hotel development opportunities, visit www.wyndhamdevelopment.com.

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

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

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

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

Third Quarter Financial Results

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

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

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

System Size

Earnings table

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

RevPAR

Earnings Table

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

Development

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

Balance Sheet and Liquidity

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

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

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

Share Repurchases and Dividends

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

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

Rejection of Unsolicited Offer

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

Full-Year 2023 Outlook

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

Table

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

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

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

Conference Call Information

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

Presentation of Financial Information

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

About Wyndham Hotels & Resorts

Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,100 hotels across over 95 countries on six continents. Through its network of approximately 858,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 24 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 105 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com. The Company may use its website as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Disclosures of this nature will be included on the Company’s website in the Investors section, which can currently be accessed at https://investor.wyndhamhotels.com. Accordingly, investors should monitor this section of the Company’s website in addition to following the Company’s press releases, filings submitted with the Securities and Exchange Commission and any public conference calls or webcasts.

Forward-Looking Statements

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

Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, general economic conditions, including inflation, higher interest rates and potential recessionary pressures; the worsening of the effects from the coronavirus pandemic (“COVID-19”); COVID-19’s scope, duration, resurgence and impact on the Company’s business operations, financial results, cash flows and liquidity, as well as the impact on the Company’s franchisees, guests and team members, the hospitality industry and overall demand for and restrictions on travel the Company’s continued performance during the recovery from COVID-19 and any resurgence or mutations of the virus concerns with or threats of other pandemics, contagious diseases or health epidemics, including the effects of COVID-19; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising businesses; the Company’s relationships with franchisees; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflict between Russia and Ukraine; the Company’s ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to the Company’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and the Company’s ability to make or pay, plans for and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in the Company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.

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

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

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

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

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

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

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

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

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

Wyndham’s 2023 Global Conference runs through Thursday, September 14. Built around the theme of “Opening Doors,” the 3-day, in-person event is known for being one of the largest gatherings of hoteliers and hotel suppliers in the world. For more information about Wyndham Hotels & Resorts, including franchising opportunities, visit www.wyndhamdevelopment.com.

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

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

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

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

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

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

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

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

About Baymont by Wyndham
Good, old-fashioned service never goes out of style, and it’s a stand-out staple at Baymont by Wyndham’s more than 500 midscale hotels throughout North America. Baymont’s signature “hometown hospitality,” which offers guest-centric comforts like friendly service with a smile, fresh chocolate chip cookies at check-in, and free breakfast at every Baymont Breakfast Corner®, is a driving force behind the brand’s stake as one of the fastest growing names in the U.S. midscale business. For more information, visit www.baymontinns.com. Like us on Facebook and follow us on Twitter. For development opportunities, visit www.wyndhamdevelopment.com.

Company Grows Development Pipeline by 10% and Global RevPAR by 7%
Successfully Completes Refinancing Transaction
Board Increases Share Repurchase Authorization by $400 Million

PARSIPPANY, N.J. (July 26, 2023) – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended June 30, 2023. Highlights include:

Global RevPAR grew 7% compared to second quarter 2022 in constant currency.
System-wide rooms grew 4% year-over-year.
Development pipeline grew 1% sequentially and 10% year-over-year.
Signings of 24,000 rooms grew 6% year-over-year and 7% compared to 2019.
Awarded 60 new construction projects for ECHO Suites Extended Stay by Wyndham in July, including its first hotels in Canada, bringing the total number of contracts to 265.
Returned $139 million to shareholders through $109 million of share repurchases and a quarterly cash dividend of $0.35 per share.
Successfully completed the refinancing of its Term Loan B Facility, extending maturity from 2025 to 2030.

“During the second quarter, we celebrated the tremendous progress we’ve made in our five-year journey as a new public company with another quarter of solid results including global RevPAR growth of 7%, net room growth of 4% and the 12^th consecutive quarter of sequential growth in our development pipeline, which has never been stronger,” said Geoff Ballotti, president and chief executive officer. “International travel demand continues to accelerate, our U.S. economy brands continue to outperform the industry and our nation’s infrastructure bill spend is expected to represent a meaningful tailwind for our franchisees in the months and years ahead. We remain very confident in our ability to deliver outstanding value for our franchisees and shareholders, as does our Board of Directors who today approved a $400 million increase in our share repurchase authorization, reflecting their confidence in the ongoing strength of our business and our strong free cash flow.”

Second Quarter Financial Results

The comparability of the Company’s second quarter results is impacted by the sale of its owned hotels and the exit of its select-service management business, both of which occurred in 2022, as well as quarterly timing variances from its marketing funds. The Company’s reported results and comparable-basis results (adjusted to neutralize these impacts) are presented below to enhance transparency and provide a better understanding of the results of the Company’s ongoing operations:

Earnings Table (1)

Fee-related and other revenues was $358 million compared to $354 million in second quarter 2022, which included $12 million from the Company’s select-service management business and owned hotels. On a comparable basis, fee-related and other revenues increased 5% year-over-year primarily reflecting higher royalties and franchise fees resulting from global RevPAR and system growth.
The Company generated net income of $70 million, or $0.82 per diluted share, compared to $92 million, or $1.00 per diluted share, in second quarter 2022. The decline in net income was expected and reflective of the marketing fund variability, higher interest expense and transaction-related costs primarily related to the Company’s refinancing of its Term Loan B Facility. On a comparable basis, adjusted diluted earnings per share grew 10% reflecting 8% growth in comparable basis adjusted EBITDA and a lower share count due to share repurchase activity.
Adjusted EBITDA was $158 million compared to $175 million in second quarter 2022. On a comparable basis, adjusted EBITDA increased 8% year-over-year primarily reflecting higher fee-related and other revenues.
During second quarter 2023, the Company’s marketing fund expenses exceeded revenues by $15 million; while in second quarter 2022, the Company’s marketing fund revenues exceeded expenses by $12 million, resulting in $27 million of marketing fund variability.

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

System Size

System Size

The Company’s global system grew 4%, reflecting 1% growth in the U.S. and 9% growth internationally. As expected, these increases included strong growth in both the higher RevPAR midscale and above segments in the U.S. and the direct franchising business in China, which grew 4% and 13%, respectively, as well as 80 basis points of growth globally and 200 basis points internationally from the acquisition of the Vienna House brand. The Company remains solidly on track to achieve its net room growth outlook of 2 to 4% for the full year 2023, including an increase in its retention rate compared to 2022.

RevPAR

Second quarter global RevPAR grew by 7% in constant currency compared to 2022 reflecting a 1% decline in the U.S. and growth of 34% internationally. The Company had achieved record-breaking RevPAR in the U.S. during the preceding year due to COVID-impacted travel patterns. Comparing to 2019 to neutralize for these impacts, U.S. RevPAR grew 8%, a 30 basis point acceleration from first quarter 2023 growth. The international RevPAR growth was driven equally by stronger pricing power and higher occupancy levels.

Development

On June 30, 2023, the Company’s global development pipeline consisted of nearly 1,850 hotels and approximately 228,000 rooms, representing a 10% year-over-year increase, including 22% growth in the U.S.
Approximately 72% of the Company’s pipeline is in the midscale and above segments.
Approximately 57% of the Company’s development pipeline is international.
Approximately 81% of the Company’s pipeline is new construction, of which approximately 35% has broken ground.
During second quarter 2023, the Company awarded 179 new contracts for its legacy brands, an increase of 8% year-over-year. In July, the Company awarded 60 additional new contracts for its ECHO Suites Extended Stay by Wyndham brand to established and experienced developers, including what will be the brand’s first hotels in Canada. This brings the total number of contracts awarded for the brand to 265 since its launch, or nearly 33,000 rooms.

Cash and Liquidity

The Company generated net cash provided by operating activities of $83 million and free cash flow of $74 million in second quarter 2023. The Company ended the quarter with a cash balance of $63 million and approximately $800 million in total liquidity.

In May 2023, the Company successfully amended and extended its outstanding Senior Secured Term Loan B Facility (“Prior Term Loan B”), which was due May 2025. The new $1.1 billion Senior Secured Term Loan B Facility (“New Term Loan B”) matures in May 2030 and carries an interest rate of SOFR plus 2.25% (with a 0.10% credit spread adjustment). The net proceeds from the New Term Loan B were used to repay all outstanding principal under the Company’s Prior Term Loan B.

As a result of this transaction, the Company moved its next material debt maturity to 2027 and increased its weighted average maturity from 3.2 to 6.0 years, providing significant financial flexibility to execute on the Company’s strategic objectives of delivering outstanding value to its guests and franchisees while driving strong shareholder return.

Share Repurchases and Dividends

During the second quarter, the Company repurchased approximately 1.6 million shares of its common stock for $109 million at an average price of $68.56 per share. Year-to-date through June 30, the Company repurchased approximately 2.4 million shares of its common stock for $165 million at an average price of $69.20 per share. The Company’s Board of Directors recently increased the Company’s share repurchase authorization by $400 million.

The Company paid common stock dividends of $30 million, or $0.35 per share.

Full-Year 2023 Outlook

The Company is refining its outlook as follows:

The reduction in adjusted net income represents an increase in interest expense due, in part, to the refinancing of the Company’s Term Loan B. This impact was offset in adjusted diluted EPS by second quarter share repurchase activity.

The Company’s expectations for full-year 2023 marketing funds contribution to adjusted EBITDA is unchanged at $10 million. The Company expects fund revenues will outpace fund expenses by $29 million in the second half of 2023 with approximately $10 million to $15 million per quarter.

Conference Call Information

Wyndham Hotels will hold a conference call with investors to discuss the Company’s results and outlook on Thursday, July 27, 2023 at 8:30 a.m. ET. Listeners can access the webcast live through the Company’s website at https://investor.wyndhamhotels.com. The conference call may also be accessed by dialing 800 267-6316 and providing the passcode “Wyndham”. Listeners are urged to call at least five minutes prior to the scheduled start time. An archive of this webcast will be available on the website beginning at noon ET on July 27, 2023. A telephone replay will be available for approximately ten days beginning at noon ET on July 27, 2023 at 800 839-5124.

Presentation of Financial Information

About Wyndham Hotels & Resorts

Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,100 hotels across over 95 countries on six continents. Through its network of approximately 852,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 24 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers over 103 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com. The Company may use its website as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Disclosures of this nature will be included on the Company’s website in the Investors section, which can currently be accessed at www.investor.wyndhamhotels.com. Accordingly, investors should monitor this section of the Company’s website in addition to following the Company’s press releases, filings submitted with the Securities and Exchange Commission and any public conference calls or webcasts.

Forward-Looking Statements

New multi-unit deals with established developers expand ECHO Suites’ presence in Alabama, Iowa, Nebraska and South Dakota while launching the brand in Canada

PARSIPPANY, N.J. (July 25, 2023) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels across more than 95 countries, today announced 60 new hotels for its rapidly expanding ECHO Suites^SM Extended Stay by Wyndham brand, including what will be the brand’s first hotels in Canada.

Continuing Wyndham’s long-term strategy of signing multi-unit deals with established and experienced developers—one of the latest being MasterBUILT Hotels, which to-date has developed more than two dozen Microtel by Wyndham® hotels across Canada—the additions grow the brand’s global pipeline to 265 hotels and approximately 33,000 rooms.

“Since announcing ECHO Suites last year, we’ve seen unprecedented interest from among the industry’s most-successful extended stay developers, helping make ECHO the fastest-growing brand launch of 2022,” said Chip Ohlsson, chief development officer, Wyndham Hotels & Resorts. “Adding MasterBUILT—one of Canada’s premier hotel development companies—to that growing list speaks to the quality of the ECHO prototype and its highly efficient, ROI-driven design, which offers among the most rentable square-footage in the industry.”

Canadian Success Story
One of Canada’s fastest growing hotel development and investment companies, MasterBUILT Hotels was founded in 2011 and has tremendous expertise in site evaluation, project design and project management—having constructed over two dozen Microtel by Wyndham hotels spanning all 10 provinces, with additional hotels currently under development.

“The success Wyndham is seeing with ECHO is not by chance—it’s a testament to the care that was put into designing the brand,” said David Donaldson, president and CEO, MasterBUILT Hotels. “From day one, Wyndham made a point of seeking the input of experienced developers and then actioning on their insights. The result is a brand that resonates as strongly with hotel developers as it will with guests. While other brands have since tried to tap into and mirror ECHO Suites’ success—Wyndham, with its unmatched scale, owner-first approach and industry-leading support—continues to lead the pack.”

Unprecedented Growth
With the addition of MasterBUILT Hotels, ECHO Suites Extended Stay by Wyndham now has a pipeline of 265 hotels across the U.S. and Canada, making it one of the largest of any extended stay hotel brand. Multiple projects have already broken ground and are in various stages of construction across Virginia, Texas and South Carolina, with over a dozen more slated to break ground in the months ahead. The Company expects to have 100 hotels open over five years, with the brand’s first locations beginning to make a meaningful contribution to Wyndham’s overall portfolio in 2024.

The purpose-built, all new-construction, 124-room ECHO Suites prototype requires under two acres of land and has a highly competitive cost per key. Coming in at approximately 50,000 square-feet, individual rooms average 300 square-feet. The rooms consist of single- and two-queen studio suites with kitchens as well as efficiently-designed public spaces—a lobby, fitness center and 24/7 guest laundry—that help to limit labor needs.

For more information on ECHO Suites Extended Stay by Wyndham, including development opportunities, visit www.wyndhamdevelopment.com.

# # #

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

Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, general economic conditions, including inflation, higher interest rates and potential recessionary pressures; the continuation or worsening of the effects from the coronavirus pandemic (“COVID-19”); COVID-19’s scope, duration, resurgence and impact on the Company’s business operations, financial results, cash flows and liquidity, as well as the impact on the Company’s franchisees and property owners, guests and team members, the hospitality industry and overall demand for and restrictions on travel; the Company’s continued performance during the recovery from COVID-19 and any resurgence or mutations of the virus; concerns with or threats of other pandemics, contagious diseases or health epidemics, including the effects of COVID-19; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising businesses; the Company’s relationships with franchisees and property owners; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflict between Russia and Ukraine; risks related to restructuring or strategic initiatives; the Company’s ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to the Company’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and the Company’s ability to make or pay, plans for, and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in the Company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise.

World’s largest hotel franchisor marks five years as a publicly traded, pure-play hotel company; strengthens its position as a select-service leader and champion of the everyday traveler

PARSIPPANY, N.J. (June 5, 2023) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels spanning more than 95 countries, today celebrates five years as a publicly traded, pure-play hotel company. Grounded in its mission of making hotel travel possible for all with a strong owner-first approach to franchising, the anniversary marks a major milestone for the Company as it strengthens its position as a select service leader and champion of the everyday traveler.

“The last five years have been monumental as we’ve welcomed, launched and integrated five entirely new brands, bringing our portfolio to 24 globally,” said Geoff Ballotti, president and CEO, Wyndham Hotels & Resorts. “We’ve also expanded into over 55 new countries while debuting our brands more than 100 times in countries where they’ve never been before, all while nurturing a record development pipeline of over 1,800 hotels, which continues to see positive growth. Through it all, we’ve proven ourselves as a Company dedicated to the long-term success of our franchisees, team members and shareholders, the latter of whom have seen over $1.5 billion returned to them in the form of dividends and share repurchases. As proud as we are of all we have accomplished, we’re even more excited about our future, which has never looked brighter.”

Making Hotel Travel Possible for All
Since going public in 2018, Wyndham has been laser-focused on strengthening and expanding its select service portfolio (economy and midscale), creating new travel experiences and opportunities for owners and guests alike. Today, with 24 brands spanning every chain scale, the Company offers a hotel for every owner and guest.

In the last five years, the Company has:

Grown its midscale and above portfolio by 63% globally while expanding La Quinta by Wyndham, the largest acquisition in the Company’s history, into three new continents and four new countries (China, New Zealand, Turkey and the United Arab Emirates).
Launched new brands in new segments—ECHO Suites Extended Stay by Wyndham (extended-stay), Wyndham Alltra (all-inclusive) and Registry Collection Hotels (luxury).
Expanded its global pipeline by over 50% to 226,000 rooms—80% of which is now new construction—while increasing its U.S. pipeline nearly 60% and its direct franchising pipeline in China by nearly 70%.
Simplified its business to nearly 100% franchised, selling the Company’s two owned hotels while substantially exiting the U.S. hotel management business.
Bolstered its presence in Europe with the acquisition of the Vienna House® brand from Berlin-based HR Group, a longstanding Wyndham franchisee, adding over 40 new hotels and more than 6,400 rooms.
Generated over $1.4 billion of free cash flow and returned $1.5 billion to shareholders, or nearly 25% of its beginning market cap, including the repurchase of 16% of its outstanding common shares.

An Owner-First Approach to Franchising
When owners succeed, Wyndham succeeds. It’s why the Company looks at every major decision first through the lens of its franchisees. The approach has helped make Wyndham one of the industry’s most admired, most known and most trusted franchisors.

In the last five years, the Company has:

Improved contribution to account for over 75% of all U.S. bookings, while nearly doubling the size of Wyndham Rewards to more than 100 million enrolled members. Nearly half of all U.S. check-ins are from program members who, on average, stay nearly twice as long and spend nearly twice as much.
Invested over $275 million, providing franchisees with best-in-class technology from industry-leaders like Sabre and Oracle (next-gen property management systems), IdeaS (next-gen revenue management system), Salesforce (sales and service platform) and Amperity (customer data platform), among others.
Rolled out an award-winning mobile app—now the Company’s fastest growing booking channel—with booking features tailored to road trippers like Lightning Book^SM and Road Trip Planner, mobile check-in and checkout (first at scale in the economy segment), and in-stay features like digital room keys. Wyndham was also the first to make mobile tipping available to franchisees at scale.
Received more than 100 awards and accolades for Wyndham Rewards, which for the past five years, has been named by readers of USA TODAY the number one hotel rewards program.
Increased its franchisee retention rate from 92% to over 95%, making it among the highest in the economy and midscale segments.

Building a Global Community
Since its inception, Wyndham has focused on fostering a more diverse global community while living its core values of Integrity, Accountability, Inclusivity, Caring and Fun. Today, the Company is not only one of the world’s leading franchisors, but one of the world’s most respected employers.

In the last five years, the Company has:

Received dozens of awards celebrating and recognizing its commitment to ethics, sustainability, diversity, equity and inclusion. Top awards include: one of Newsweek’s Most Loved Workplaces, one of Ethisphere’s World’s Most Ethical Companies and one of Diversity Inc’s Top 50 Companies for Diversity.
Invested in team member work-life balance with regular team member appreciation days, annual philanthropic-focused WISH days, as well as hybrid and flexible work arrangements. The approach has helped the Company to attract and retain top-tier talent while strengthening its position in the industry.
Launched the first-of-its-kind Women Own the Room program, quickly followed by BOLD by Wyndham, helping advance hotel ownership among women and Black entrepreneurs. To-date, the award-winning programs have led to more than 50 combined signings and over a dozen openings.
Prioritized greater industry diversity through DEI training related to antiracism, unconscious bias and allyship, while advancing gender equity. The Company is on track to meet its 2025 goals of 100% gender pay equity globally along with 100% of hotel team members receiving unconscious bias training.
Expanded its Affinity Business Groups for team members, which include eight fully inclusive networks led by Executive sponsors developed to foster innovation, drive growth and enhance DEI globally.
Reinforced its commitment to helping protect human rights by supporting humanitarian causes and combatting human trafficking. A proud and long-time partner of organizations like Polaris, BEST and ECPAT-USA, the Company requires training for all hotels globally and, earlier this year, donated $500,000 to AHLA Foundation’s Survivor Fund.
Committed to a more sustainable future with Wyndham Green, a program designed to help franchisees reduce their environmental footprints and operate more efficiently through eco-friendly initiatives. All hotels globally are required to attain a minimum of Level 1 Core Wyndham Green Certification.

Added Ballotti, “None of these achievements would have been possible without the constant support and engagement of our owners and team members which has never been stronger. We’ll continue to deliver on our mission of Making Hotel Travel Possible for All by providing the very best value in the industry to our owners and guests, offering Count On Me service while living our core values of integrity, accountability, inclusivity, caring and fun.”

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

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

Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, general economic conditions, including inflation, higher interest rates and potential recessionary pressures; the worsening of the effects from the coronavirus pandemic (“COVID-19”); COVID-19’s scope, duration, resurgence and impact on the Company’s business operations, financial results, cash flows and liquidity, as well as the impact on the Company’s franchisees, guests and team members, the hospitality industry and overall demand for and restrictions on travel; the Company’s continued performance during the recovery from COVID-19 and any resurgence or mutations of the virus; concerns with or threats of other pandemics, contagious diseases or health epidemics, including the effects of COVID-19; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising businesses; the Company’s relationships with franchisees; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflict between Russia and Ukraine; the Company’s ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to the Company’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and the Company’s ability to make or pay, plans for, and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in the Company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.

Multi-year deal brings world's largest hotel franchisor and number one hotel rewards program into 120 ballparks, driving new hotel stays while unlocking one-of-a-kind member experiences

PARSIPPANY, N.J., (March 29, 2023) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels spanning more than 95 countries, today announced a new multi-season partnership with Minor League Baseball. The deal makes Wyndham the Official Hotel Partner of Minor League Baseball (MiLB) with its award-winning loyalty program, Wyndham Rewards, becoming MiLB’s Official Hotel Loyalty Partner.

Wyndham chose Minor League Baseball as the program’s newest partner based on MiLB’s growing popularity, accessibility, and strong synergies between its guests, particularly its rewards members, and MiLB’s fan base. For the past five years, Wyndham Rewards has been named the number one hotel rewards program by readers of USA TODAY. Known for championing everyday travelers through its unmatched simplicity and generous rewards, the program offers members unparalleled access to a growing redemption portfolio of more than 50,000 hotels, vacation club resorts and vacation rentals round the world.

“Minor League Baseball has been grooming and celebrating the sport’s next-generation of stars for decades, all while entertaining fans and helping families make memories that last a lifetime,” said Dana Rosenberg, senior vice president of Marketing at Wyndham Hotels & Resorts. “Our partnership brings guests and members closer to something we already know they love, and in doing so, makes it easier than ever for them to unlock new value and experiences with Wyndham and Wyndham Rewards.”

Through Wyndham’s new relationship with Minor League Baseball, Wyndham Rewards members will soon be able to redeem points for unprecedented access to all that MiLB has to offer, including: tickets to Minor League games, one-of-a-kind experiences such as throwing a first pitch, behind-the-scenes ballpark tours, batting practice field access and more. Benefits are slated to go live later this summer.

“Baseball fans love traveling to see the many ballparks around the country and watching their favorite teams play,” said Uzma Rawn, senior vice president, Global Partnerships, Major League Baseball. “When you consider our Minor League Baseball stadiums around the country, on average nearly 20 by Wyndham branded hotels are within a 25-mile radius. It’s a partnership that truly fits like a glove.”

Wyndham’s partnership with Minor League Baseball also includes a series of additional touchpoints designed to raise visibility of the program among fans while simplifying travel to and from their favorite Minor League games. These include a heavy presence at over 8,000 scheduled Minor League games in the form of branded stadium features, sponsorship of Minor League Baseball’s Official Ballpark Guides, a robust social and digital media presence, and Wyndham booking links on MiLB.com as well as all 120 Minor League Baseball Club sites. The deal also carries additional benefits for Wyndham franchisees. Notably, official MiLB League travel will now include stays at Wyndham hotels. What’s more, franchisees will have access to all team logos, allowing for cross marketing opportunities between hotels and their local Minor League team.

Added Rosenberg, “This is an incredibly rich and detailed partnership, one that brings immense value not just for Wyndham Rewards, but Wyndham’s thousands of hotel franchisees who are the heart of everything we do.”

Named the number one hotel loyalty program by readers of USA TODAY, Wyndham Rewards is the only hotel loyalty program offering members a guaranteed 1,000 points with every qualified stay. Free nights start at just 7,500 points per night, while discounted nights start at 1,500 points plus some cash. The program’s member levels (status), which are among the most attainable in travel, allow members to unlock benefits like a preferred room, late checkout, accelerated earning, suite upgrades and more.

About Minor League Baseball
Minor League Baseball consists of 120 teams across four classification levels (Single-A, High-A, Double-A, and Triple-A) that are affiliated with Major League Baseball’s 30 teams. Fans flock to MiLB games to see baseball’s future stars and experience the affordable family-friendly entertainment that has been a staple of MiLB since 1901. For more information, visit MiLB.com. Follow MiLB on Facebook, Instagram, and Twitter.

Industry-leading program sets the bar for driving diversity while expanding women hotel ownership

PARSIPPANY, N.J., (March 22, 2023) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels spanning more than 95 countries, today announced the continued momentum of its groundbreaking “Women Own the Room” program, which in its inaugural year, has signed more than 30 hotels across the U.S. and Canada, 10 of which are now open.

The first-ever program by a major hotel company specifically targeting women’s advancement in hotel ownership, Women Own the Room is designed to advance and empower women entrepreneurs to break through the predominantly male-dominated hotel industry and is a natural extension of Wyndham’s strong dedication to diversity, equity, and inclusion.

“Representation matters. Opening doors for traditionally underrepresented owners unlocks potential and possibility, and paves the way for others to follow,” said Lisa Checchio, chief marketing officer, Wyndham Hotels & Resorts. “Women play a critical role in the hotel industry, and Women Own the Room is breaking down barriers to actively change the face of hotel ownership.”

Data from the Castell Project, shared in 2022, shows that while the hospitality industry is diverse, it lags when it comes to diversity in senior positions and ownership with women holding less than 10 percent of hotel development and leadership roles. Women Own the Room delivers comprehensive financial solutions for new construction and conversion projects with enhanced capital support and reduced initial franchise fees. The program also offers members personalized operational support and establishes an inclusive community for networking and continuing education for women in hospitality.

A New Generation of Owners
Nearly 50 percent of the hotels affiliated with Women Own the Room are new construction projects. Among them is the upcoming Microtel by Wyndham in New Castle, CO. Nestled in a picturesque area between the bustling ski towns of Vail and Aspen, the hotel is owned by Wyndham franchisee Elizabeth Avery and is on track to break ground later this year.

Growing up as a child of Polish immigrants, Avery witnessed her parents pursue their dream of hospitality when they opened their first hotel in New Castle. The experience created childhood aspirations that one day she could do the same. Following a successful career in the gas and oil industry, she’s now getting that chance. Avery was drawn to Wyndham due to its long-standing reputation and expertise in the space and has since been able to leverage the Company’s scale and resources to navigate the hurdles that come with new construction.

“I know the hospitality industry because I grew up in it, but this is my first time spearheading the construction of a new hotel. New construction is not straightforward, and costs, timelines and securing financing are not black and white,” said Avery. “I know Wyndham is dedicated to my success because of the resources they continue to provide, along with the one-on-one, collaborative approach they take as I work through my custom build. Wyndham has helped make what is a complicated process more seamless – and that support goes a long way.”

Avery added this opportunity is a natural step for her, and she doesn’t see her journey in hospitality ending here. With Wyndham’s unique Women Own the Room program, she sees the value in elevating the skillsets women bring to the table and looks forward to being part of a robust community of entrepreneurs.

Breaking Barriers, Opening Doors
Since launching in January 2022, Women Own the Room has led to the opening of 10 hotels across the U.S., including new locations for brands like Days Inn by Wyndham, Baymont by Wyndham and AmericInn by Wyndham. Among them is the Travelodge by Wyndham in Macon, Ga., owned by Women Own the Room member Preeti Singh.

Singh came to the U.S. in 2007 on a student visa, and while earning her Master of Business Administration degree from the University of Findlay, she volunteered and learned from a local family in their Travelodge by Wyndham hotel in Freemont, Ohio. It was there that she fell in love with the hotel industry, and following her graduation, she began to pursue her dream of ownership. Singh worked every job she could to get experience in hotels, and was hired as a General Manager at a Microtel by Wyndham in Tifton, Ga in 2009. She worked tirelessly over the next six years to bring success to the hotel and doubled the hotel’s revenue while in her role.

In 2016, Singh bought her first hotel, and based on her history with Wyndham, and in response to the launch of Women Own the Room, she converted it to a Travelodge by Wyndham in 2022 – coming full circle from where she started her journey. The 45-room hotel underwent a full renovation prior to opening and features hardwood floors throughout, updated bathrooms and new bedding, among other improvements. The hotel also boasts a contemporary design and Singh prides herself on the hotel’s welcoming feel and positive energy.

“I was a young immigrant when I started my journey, and Wyndham has been a reliable and consistent partner for me from the beginning with a commitment to elevating me and other women like me,” Singh said. “I hope that by sharing my story, and sharing my experience with Women Own the Room, I can inspire other women to join the industry and follow their dreams of entrepreneurship.”

To stay up-to-date on Wyndham’s Women Own the Room program, visit www.womenowntheroombywyndham.com. Developers interested in collaborating with Wyndham can visit www.Wyndhamdevelopment.com or contact the Wyndham Franchise Development team by email at [email protected].

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