Source: Wyndham

PARSIPPANY, N.J. – Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended March 31, 2023. Highlights include:

  • Global RevPAR grew 12% compared to first quarter 2022 in constant currency.
  • S. RevPAR grew 4% compared to first quarter 2022.
  • System-wide rooms grew 4% year-over-year, including 1% of growth in the U.S. and 9% of growth internationally.
  • Development pipeline grew 11% year-over-year to 226,000 rooms, and signings increased 7%, excluding ECHO Suites Extended Stay by Wyndham.
  • Awarded 35 new construction projects for ECHO Suites Extended Stay by Wyndham, bringing the total number to 205 since launch in March 2022.
  • Returned $87 million to shareholders through $56 million of share repurchases and a quarterly cash dividend of $0.35 per share.
  • Company raises full-year 2023 outlook.
Our impressive first quarter results demonstrate continued momentum with global RevPAR growth of 12%, net room growth of 4% and the 11th consecutive quarter of sequential growth in our development pipeline. We outperformed our adjusted EBITDA expectations, leading us to raise our full-year outlook as a result. With our seasonally strongest summer season on the horizon and no signs of slowdown in our middle-income guests’ desire to spend on travel, we’re enthusiastic about the opportunities that lie ahead and our ability to deliver outstanding value to our shareholders, guests, franchisees and team members. Geoffrey A. 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

Part of Wyndham Hotels & Resorts (NYSE: WH), the world's largest hotel franchising company, Wyndham Rewards is the #1 hotel rewards program as named by readers of USA TODAY. Members—approximately 120 million enrolled around the world—earn a guaranteed 1,000 points with every qualified stay and can redeem for free nights starting at just 7,500 points. With more than 60,000 hotels, vacation club resorts and vacation rentals globally, no other hotel rewards program is more generous. Join for free at WyndhamRewards.com.

Related