Source: Wyndham
  • 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. – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended June 30, 2023. Highlights include:

  • Global RevPAR grew 7% compared to second quarter 2022 in constant currency.
  • System-wide rooms grew 4% year-over-year.
  • Development pipeline grew 1% sequentially and 10% year-over-year.
  • Signings of 24,000 rooms grew 6% year-over-year and 7% compared to 2019.
  • Awarded 60 new construction projects for ECHO Suites Extended Stay by Wyndham in July, including its first hotels in Canada, bringing the total number of contracts to 265.
  • Returned $139 million to shareholders through $109 million of share repurchases and a quarterly cash dividend of $0.35 per share.
  • Successfully completed the refinancing of its Term Loan B Facility, extending maturity from 2025 to 2030.
During the second quarter, we celebrated the tremendous progress we’ve made in our five-year journey as a new public company with another quarter of solid results including global RevPAR growth of 7%, net room growth of 4% and the 12th consecutive quarter of sequential growth in our development pipeline, which has never been stronger. 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. Geoff Ballotti, president and chief executive officer

Click here to view the full 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 9,200 hotels across over 95 countries on six continents. Through its network of nearly 885,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 25 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company's award-winning Wyndham Rewards loyalty program offers approximately 110 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit wyndhamhotels.com.

About Wyndham Rewards

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 50,000 hotels, vacation club resorts and vacation rentals worldwide.

Designed for the everyday traveller, members earn a guaranteed 1,000 points with every qualified stay and may redeem points for a wide range of rewards, including free nights at any of the approximately 9,100 hotels or tens of thousands of vacation club resorts and vacation rentals globally through affiliation with Wyndham Destinations and others. Wyndham Rewards has over 103 million enrolled members globally. Join for free today at www.wyndhamrewards.com. You've earned this. ®

Related