Statement from Wyndham Hotels & Resorts: COVID-19 Business Update
The COVID-19 pandemic has essentially stopped most travel, and accordingly, we've been forced to make incredibly difficult decisions that affect our entire Wyndham family. These include job eliminations, salary reductions and reduced-hour work weeks impacting nearly half of our 2,500 corporate team members around the globe, as well as team member furloughs and property closures at some of our managed hotels. Additionally, our President and CEO is indefinitely forgoing 100 percent of his salary and our Board of Directors is indefinitely forgoing 100 percent of its cash compensation.
While these are extraordinary times, we know they will pass. We remain confident in the strength and resiliency of our business and we are committed to the health and safety of our team members, owners and guests. The travel industry will inevitably rebound, and when it does, Wyndham will be there, ready to welcome the everyday traveler to its approximately 9,300 hotels around the world.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world's largest hotel franchising company by the number of properties, with approximately 9,000 hotels across nearly 95 countries on six continents. Through its network of approximately 803,000 rooms appealing to the everyday traveller, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 22 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services. The Company's award-winning Wyndham Rewards loyalty programme offers over 90 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.