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WYNDHAM HOTELS & RESORTS REPORTS STRONG FIRST QUARTER RESULTSApril 29, 2026 4:30 PM
PR Newswire (US)
Company Grows System Size by 4% and Development Pipeline to Record 2,200 Hotels U.S. RevPAR Recovery Ahead of ExpectationsPARSIPPANY, N.J., April 29, 2026 /PRNewswire/ -- Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended March 31, 2026. Highlights include:
System-wide rooms grew 4% year-over-year.Awarded development contracts in the U.S. increased 8% year-over-year.Development pipeline grew 3% year-over-year to a record of over 259,000 rooms and over 2,200 hotels. U.S. RevPAR was flat year-over-year, 250 basis points ahead of midpoint of expectations.Ancillary revenues increased 21% year-over-year. Net income remained flat year-over-year at $61 million; adjusted net income increased 9% year-over-year to $73 million, or 6% lower on a comparable basis. Diluted earnings per share grew 3% to $0.80 from $0.78 in the prior-year quarter and adjusted diluted EPS grew 12% year-over-year to $0.96, or 3% lower on a comparable basis. Adjusted EBITDA increased 8% year-over-year to $156 million, or 1% lower on a comparable basis. Net cash provided by operating activities of $42 million and free cash flow of $64 million.Returned $85 million to shareholders through $51 million of share repurchases and quarterly cash dividends of $0.43 per share. Issued $650 million aggregate principal amount of 5.625% senior unsecured notes, due 2033, the net proceeds of which were primarily used to fully repay then-outstanding revolver and term loan A borrowings."We delivered a strong start to the year, highlighted by record-level first-quarter openings and a continued expansion of our development pipeline," said Geoff Ballotti, president and chief executive officer. "As U.S. RevPAR in our economy and midscale segments continues to recover ahead of expectations, we approach the peak leisure summer season with increasing optimism. We've never been more confident in our ability to drive sustained long-term value creation for franchisees, guests and shareholders by adding high-quality, FeePAR-accretive hotels to our portfolio, growing ancillary revenues and scaling AI to further differentiate our industry-leading technology platform."System Size and Development
Rooms
March 31,
2026
March 31,
2025
% ChangeUnited States
500,700
502,600
— %International
368,600
337,300
9 %Global
869,300
839,900
4 %The Company's global system grew 4%, including flat growth in the U.S., which includes the impact from the loss of legacy affiliated rooms, 12% direct-franchised growth in the Company's Asia Pacific region and 9% growth in the Company's higher RevPAR EMEA and Latin America regions.As of March 31, 2026, the Company's global development pipeline increased 3% vs. prior-year to a record-high level of over 259,000 rooms and over 2,200 hotels. Key highlights include:3% pipeline growth in the U.S. and 2% growth internationallyApproximately 70% of the pipeline is in the midscale and above segmentsApproximately 17% of the pipeline is in the extended stay segmentApproximately 43% of the pipeline is in the U.S.Approximately 77% of the pipeline is new construction and approximately 35% of these projects have broken ground; rooms under construction grew 3% year-over-yearRevPAR
First Quarter
2026
YOY
Constant
Currency
% ChangeUnited States
$ 42.25
— %International
33.69
(1)Global
38.53
(1)First quarter global RevPAR decreased 1% in constant currency compared to 2025, reflecting flat performance in the U.S. and a 1% decline internationally. In the U.S., the year-over-year comparison was impacted by approximately 40 basis points of unfavorable hurricane impacts related to first quarter 2025; excluding which, RevPAR increased over 600 basis points sequentially and approximately 10 basis points year-over-year reflecting stabilized occupancy and ADR levels. Continued strength across the Midwest and growth in Texas was partially offset by performance in Florida and California, which both improved sequentially yet declined year-over-year.Internationally, constant currency growth of 8% in Canada reflected significant pricing power and continued demand growth, while growth of 5% in Southeast Asia and the Pacific Rim and 1% in EMEA each primarily reflected improved demand. The growth in those regions was more than offset by softness in China where RevPAR improved over 500 basis points sequentially, yet declined 5% year-over-year, and Latin America, which declined 4% year-over-year primarily due to lower U.S. cross-border demand in Mexico.Operating ResultsThe comparability of the Company's first quarter results is impacted by marketing fund variability. 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.
Net revenues
Net income(a)
Adjusted
EBITDA
Reported
diluted
EPS(a)
Adjusted
diluted
EPS(a)2025 reported$ 316
$ 61
$ 145
$ 0.78
$ 0.862026 reported327
61
156
0.80
0.96Change11
—
11
0.02
0.10Less: Marketing fund variabilityn/a
10
13
0.13
0.13Comparable growth$ 11
$ (10)
$ (2)
$ (0.11)
$ (0.03)
NOTE:Growth rates may not recalculate due to rounding; see Table 7 for a reconciliation of non-GAAP metrics and Table 9 for definitions.(a) Includes estimated tax impact of marketing fund variability.Net revenues grew 3% to $327 million compared to $316 million in the first quarter of 2025, reflecting a 21% increase in ancillary revenues and global net room growth of 4%, partially offset by lower other franchise fees and the deferral of fees from Revo Hospitality Group ("Revo").Net income remained flat at $61 million compared to the first quarter of 2025, primarily reflecting higher adjusted EBITDA offset by restructuring and other-related costs, as well as transaction-related costs resulting from the Company's issuance of 5.625% senior unsecured notes. Adjusted net income grew 9% to $73 million compared to $67 million in the first quarter of 2025.Adjusted EBITDA increased 8% to $156 million compared to $145 million in the first quarter of 2025. This increase included a $13 million favorable impact from marketing fund variability, excluding which adjusted EBITDA declined 1% on a comparable basis. This decline primarily reflects lower royalties and franchise fees and the absence of one-time cost reductions, partially offset by increased ancillary revenues.Diluted EPS grew 3% to $0.80 compared to $0.78 in the first quarter of 2025, which primarily reflects the benefit of a lower share count due to share repurchase activity.Adjusted diluted EPS increased 12% to $0.96 compared to $0.86 in the first quarter of 2025. This increase included a favorable impact of $0.13 per share related to marketing fund variability (after estimated taxes). On a comparable basis, adjusted diluted EPS decreased approximately 3% year-over-year primarily reflecting a comparable basis decline in adjusted EBITDA, a marginally higher effective tax rate and increased interest expense, partially offset by the benefit of share repurchase activity.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.Balance Sheet and LiquidityThe Company generated $42 million of net cash provided by operating activities and $64 million of free cash flow in the first quarter 2026. The Company ended the quarter with a cash balance of $79 million and $1.1 billion in total liquidity, which includes the effect of the February 2026 issuance of $650 million aggregate principal amount of senior unsecured notes bearing interest at 5.625%. The net proceeds from the issuance were primarily used to fully repay then-outstanding revolver and term loan A borrowings. The Company's net debt leverage ratio was 3.5 times at March 31, 2026, at the midpoint of the Company's 3 to 4 times stated target range and in line with expectations.Share Repurchases and DividendsDuring the first quarter, the Company repurchased approximately 656,000 shares of its common stock for $51 million. The Company paid common stock dividends of $34 million, or $0.43 per share, during the first quarter 2026.Revo UpdateAs part of the Company's efforts to pursue all available remedies related to Revo's ongoing insolvency proceedings and optimize the recoverability for the Company's shareholders, the Company exercised its rights to foreclose on and take ownership of two properties in Europe. The Company expects these properties to generate approximately $10 million of net revenues in full-year 2026 with a limited impact to earnings as the Company works to stabilize operations and implement an asset management plan to maximize value.OutlookThe Company is updating its full-year outlook as follows:
Updated Outlook
Prior OutlookYear-over-year rooms growth (a)
4.0% - 4.5%
4.0% - 4.5%Year-over-year global RevPAR growth (b)
(1.0%) - 1.0%
(1.5%) - 0.5%Net revenues (c)
$1.47 - $1.50 billion
$1.46 - $1.49 billionAdjusted EBITDA (d)
$730 - $745 million
$730 - $745 millionAdjusted net income
$351 - $365 million
$354 - $368 millionAdjusted diluted EPS
$4.62 - $4.80
$4.62 - $4.80Free cash flow conversion rate
55% - 60%
55% - 60%
(a) Excludes any potential room termination impact associated with Revo's ongoing insolvency. (b) Represents constant currency basis; on a reported basis, which includes foreign currency impacts, would be (1.0%) - 1.0%.(c) Includes approximately $10 million of net revenues from the two hotels that the Company foreclosed on and took ownership of as part of Revo's ongoing insolvency.(d) Includes the effects of the deferral of $12 million of royalties and franchise fees from Revo and the inclusion of $15 million of previously disclosed one-time variable cost reductions made in 2025; excluding which comparable basis growth rate would be 5% - 7%.The Company expects marketing fund revenues to roughly equal expenses during full-year 2026 though seasonality of spend will affect the quarterly comparisons throughout the year.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 InformationWyndham Hotels will hold a conference call with investors to discuss the Company's results and outlook on Thursday, April 30, 2026 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 800 343-4136 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 April 30, 2026. A telephone replay will be available for approximately ten days beginning at noon ET on April 30, 2026 at 800 695-0715. Presentation of Financial InformationFinancial 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 & ResortsWyndham Hotels & Resorts (NYSE: WH) is one of the world's largest hotel franchising companies with approximately 8,400 hotels across approximately 100 countries on six continents. Through its network of approximately 869,000 franchised and affiliated 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®, ECHO Suites®, Registry Collection Hotels®, Trademark Collection® and Wyndham®. The Company's award-winning Wyndham Rewards loyalty program offers over 124 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit https://investor.wyndhamhotels.com. The Company may use its website and social media channels as 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 or on the Company's social media channels, including the Company's LinkedIn account which can currently be accessed at https://www.linkedin.com/company/wyndhamhotels. Accordingly, investors should monitor this section of the Company's website and the Company's social media channels 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 StatementsThis press release contains "forward-looking statements" within the meaning of the federal securities laws, including statements related to Wyndham'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. Forward-looking statements are any statements other than statements of historical fact, including 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," "predict," "intend," "goal," "future," "forward," "remain," "confident," "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 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, which may impact decisions by consumers and businesses to use travel accommodations; global trade disputes, including with China; 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 ability of franchisees to pay back loans owed to Wyndham; the impact of prior or any future impairment charges related to the credit Wyndham extends to its franchisees; the impact of war, terrorist activity, political instability or political strife; global or regional health crises or pandemics including the resulting impact on Wyndham's business, operations, financial results, cash flows and liquidity, as well as the impact on its franchisees, guests and team members, the hospitality industry and overall demand for and restrictions on travel; 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 Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. These risks and uncertainties are not the only ones Wyndham may face and additional risks may arise or become material in the future. Wyndham undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.Table 1WYNDHAM HOTELS & RESORTSINCOME STATEMENT(In millions, except per share data)(Unaudited)
Three Months Ended March 31,
2026
2025Net revenues
Royalties and franchise fees$ 114
$ 126Marketing, reservation and loyalty122
116Management and other fees4
2License and other fees30
27Other57
45Net revenues327
316
Expenses
Marketing, reservation and loyalty131
138Operating25
19General and administrative34
30Depreciation and amortization16
15Restructuring and other-related5
—Transaction-related3
1Separation-related(1)
1Total expenses213
204
Operating income114
112Interest expense, net34
33
Income before income taxes80
79Provision for income taxes19
18Net income$ 61
$ 61
Earnings per share
Basic$ 0.80
$ 0.78Diluted0.80
0.78
Weighted average shares outstanding
Basic75.4
77.9Diluted75.8
78.7
NOTE: As a result of the Company's exit of its U.S. management business, it has not recorded cost reimbursement revenues and expenses to account for U.S. managed employees' payroll costs since full-year 2024. Therefore, the Company is no longer separately disclosing fee-related and other revenues within net revenues for comparative year-over-year purposes in its reported and outlook results. Table 2WYNDHAM HOTELS & RESORTSHISTORICAL REVENUE AND ADJUSTED EBITDA BY SEGMENT
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Full YearHotel Franchising
Net revenues
2026$ 327
n/a
n/a
n/a
n/a
2025$ 316
$ 397
$ 382
$ 334
$ 1,429
Adjusted EBITDA
2026$ 174
n/a
n/a
n/a
n/a
2025$ 161
$ 214
$ 228
$ 178
$ 781
Corporate
Net revenues
2026$ —
n/a
n/a
n/a
n/a
2025$ —
$ —
$ —
$ —
$ —
Adjusted EBITDA
2026$ (18)
n/a
n/a
n/a
n/a
2025$ (16)
$ (19)
$ (15)
$ (13)
$ (63)
Total Company
Net revenues
2026$ 327
n/a
n/a
n/a
n/a
2025$ 316
$ 397
$ 382
$ 334
$ 1,429
Net income/(loss)
2026$ 61
n/a
n/a
n/a
n/a
2025$ 61
$ 87
$ 105
$ (60)
$ 193
Adjusted EBITDA
2026$ 156
n/a
n/a
n/a
n/a
2025$ 145
$ 195
$ 213
$ 165
$ 718
NOTE: Amounts may not add across due to rounding. See Table 7 for reconciliations of Total Company non-GAAP measures and Table 9 for definitions. Table 3WYNDHAM HOTELS & RESORTSCONDENSED CASH FLOWS(In millions)(Unaudited)
Three Months Ended March 31,
2026
2025Operating activities
Net income$ 61
$ 61Depreciation and amortization16
15Payments of development advance notes, net(29)
(28)Working capital and other, net(6)
11Net cash provided by operating activities 42
59Investing activities
Property and equipment additions (7)
(7)Loan advances, net—
(52)Net cash used in investing activities (7)
(59)Financing activities
Proceeds from long-term debt702
140Payments of long-term debt(617)
(76)Dividends to shareholders (34)
(33)Repurchases of common stock (51)
(74)Other, net(20)
(22)Net cash used in financing activities (20)
(65)Net increase/(decrease) in cash, cash equivalents and restricted cash15
(65)Cash, cash equivalents and restricted cash, beginning of period64
113Cash, cash equivalents and restricted cash, end of period$ 79
$ 48
Free Cash Flow:
Three Months Ended March 31,
2026
2025Net cash provided by operating activities$ 42
$ 59Less: Property and equipment additions(7)
(7)Plus: Payments of development advance notes, net29
28Free cash flow$ 64
$ 80 Table 4WYNDHAM HOTELS & RESORTSBALANCE SHEET SUMMARY AND DEBT(In millions)(Unaudited)
As ofMarch 31, 2026
As ofDecember 31, 2025Assets
Cash and cash equivalents
$ 79
$ 64Trade receivables, net
300
291Property and equipment, net
138
104Goodwill and intangible assets, net
3,008
3,015Other current and non-current assets
723
708Total assets
$ 4,248
$ 4,182
Liabilities and stockholders' equity
Total debt
$ 2,650
$ 2,560Other current liabilities
460
462Deferred income tax liabilities
269
271Other non-current liabilities
422
421Total liabilities
3,801
3,714Total stockholders' equity
447
468Total liabilities and stockholders' equity
$ 4,248
$ 4,182
The Company's outstanding debt was as follows:
Weighted Average
Interest Rate (a)
As ofMarch 31, 2026
As ofDecember 31, 2025$1.0 billion revolving credit facility (due October 2030)5.2 %
$ —
$ 224$1.5 billion term loan B (due May 2030)5.4 %
1,498
1,502$650 million 5.625% senior unsecured notes (due March 2033)5.6 %
640
—$500 million 4.375% senior unsecured notes (due August 2028)4.4 %
497
497$400 million term loan A (due April 2027)5.5 %
—
337Other debt (b)2.2 %
15
—Total debt 5.2 %
2,650
2,560Cash and cash equivalents
79
64Net debt
$ 2,571
$ 2,496Net debt leverage ratio
3.5x
3.5x
(a) Represents weighted average interest rates for the first quarter 2026, including the effects of hedging.(b) Represents mortgages associated with the two hotels that the Company foreclosed on and took ownership of as part of Revo's ongoing insolvency. The Company's outstanding debt as of March 31, 2026 matures as follows:
AmountWithin 1 year$ 23Between 1 and 2 years19Between 2 and 3 years515Between 3 and 4 years16Between 4 and 5 years1,437Thereafter640Total$ 2,650 Table 5WYNDHAM HOTELS & RESORTSREVENUE DRIVERS
Three Months Ended March 31,
2026
2025
Change
% Change
Beginning Room Count (January 1)
United States505,100
501,800
3,300
1 %
International363,800
333,900
29,900
9
Global868,900
835,700
33,200
4
Additions
United States6,300
6,500
(200)
(3)
International7,900
7,700
200
3
Global 14,200
14,200
—
—
Deletions
United States(10,700)
(5,700)
(5,000)
(88)
International(3,100)
(4,300)
1,200
28
Global(13,800)
(10,000)
(3,800)
(38)
Ending Room Count (March 31)
United States500,700
502,600
(1,900)
—
International368,600
337,300
31,300
9
Global869,300
839,900
29,400
4 %
As of March 31,
FY 2025
Royalty
Contribution
2026
2025
Change
% Change
System Size
United States
Economy219,100
223,500
(4,400)
(2 %)
Midscale and Above281,600
279,100
2,500
1
Total United States500,700
502,600
(1,900)
— %
77 %
International
Greater China 134,400
119,400
15,000
13 %
4Rest of Asia Pacific44,600
40,200
4,400
11
2Europe, the Middle East and Africa99,800
93,200
6,600
7
8Canada39,800
39,800
—
—
6Latin America50,000
44,700
5,300
12
3Total International368,600
337,300
31,300
9 %
23
Global869,300
839,900
29,400
4 %
100 %
NOTE:Global, International and Greater China rooms exclude all rooms associated with the Company's Super 8 master licensee in China in both periods. Table 5 (continued)WYNDHAM HOTELS & RESORTSREVENUE DRIVERS
Three Months
Ended March 31, 2026
Constant Currency % Change (b)
Regional RevPAR Growth
United States
Economy$ 32.97
(2 %)
Midscale and Upper Midscale48.41
—
Upscale and Above80.23
—
Total United States$ 42.25
— %
International
Greater China (a)$ 15.84
(5 %)
Rest of Asia Pacific36.24
5
Europe, the Middle East and Africa44.42
1
Canada44.86
8
Latin America57.38
(4)
Total International (a)$ 33.69
(1 %)
Global (a)$ 38.53
(1 %)
Three Months Ended March 31,
2026
2025
% Change (c)Average Royalty Rate
United States4.8 %
4.8 %
(1 bp)International (a)2.4 %
2.6 %
(20 bps)Global (a)3.9 %
4.0 %
(14 bps)
(a) Excludes the impact from all rooms associated with the Company's Super 8 master licensee in China. Additionally, reflects the impact of the Company's deferral of revenues from Revo, which unfavorably impacted the Company's first quarter international and global average royalty rates by 33 bps and 11 bps, respectively. (b) International and global exclude the impact of currency exchange movements.(c) Amounts may not recalculate due to rounding. Table 6WYNDHAM HOTELS & RESORTSHISTORICAL REVPAR, ROYALTY RATE AND ROOMS
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Full
YearTotal System
Global RevPAR
2026
$ 38.53
n/a
n/a
n/a
n/a
2025
$ 38.44
$ 47.55
$ 50.05
$ 40.36
$ 44.12
U.S. RevPAR
2026
$ 42.25
n/a
n/a
n/a
n/a
2025
$ 42.37
$ 53.32
$ 55.07
$ 42.91
$ 48.44
International RevPAR
2026
$ 33.69
n/a
n/a
n/a
n/a
2025
$ 32.81
$ 39.45
$ 43.11
$ 36.96
$ 38.13
Global Royalty Rate
2026
3.9 %
n/a
n/a
n/a
n/a
2025
4.0 %
4.0 %
4.0 %
3.8 %
4.0 %
U.S. Royalty Rate
2026
4.8 %
n/a
n/a
n/a
n/a
2025
4.8 %
4.7 %
4.8 %
4.7 %
4.8 %
International Royalty Rate
2026
2.4 %
n/a
n/a
n/a
n/a
2025
2.6 %
2.6 %
2.6 %
2.3 %
2.5 %
Global Rooms
2026
869,300
n/a
n/a
n/a
n/a
2025
839,900
846,700
855,400
868,900
868,900
U.S. Rooms
2026
500,700
n/a
n/a
n/a
n/a
2025
502,600
503,300
503,400
505,100
505,100
International Rooms
2026
368,600
n/a
n/a
n/a
n/a
2025
337,300
343,400
352,000
363,800
363,800
NOTE:Data excludes the impact from all rooms associated with the Company's Super 8 master licensee in China in all periods. Table 7WYNDHAM HOTELS & RESORTSNON-GAAP RECONCILIATIONS(In millions)
The tables below reconcile certain non-GAAP financial measures. The presentation of these adjustments is intended to permit the comparison of
particular adjustments as they appear in the income statement in order to assist investors' understanding of the overall impact of such adjustments.
The Company believes that adjusted EBITDA, adjusted net income and adjusted diluted EPS financial measures provide useful information to investors about the Company
and its financial condition and results of operations because these measures are used by its management team to evaluate its operating
performance and make day-to-day operating decisions and adjusted EBITDA is frequently used by securities analysts, investors and other interested
parties as a common performance measure to compare results or estimate valuations across companies in its industry. These measures also assist
the Company investors in evaluating its ongoing operating performance for the current reporting period and, where provided, over different reporting periods,
by adjusting for certain items which may be recurring or non-recurring and which in the Company's view do not necessarily reflect ongoing performance. The Company's
also internally uses these measures to assess its operating performance, both absolutely and in comparison to other companies, and in evaluating
or making selected compensation decisions. These supplemental disclosures are in addition to GAAP reported measures. These non-GAAP
reconciliation tables should not be considered in isolation or as a substitute for, nor superior to, financial results and measures determined or
calculated in accordance with GAAP and may not be comparable to similarly-titled measures used by other companies.
Reconciliation of Net Income/(Loss) to Adjusted EBITDA:
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Full
Year2026
Net income$ 61
Provision for income taxes19
Depreciation and amortization16
Interest expense, net34
Stock-based compensation9
Development advance notes amortization8
Restructuring and other-related (a)5
Transaction-related (b)3
Revo-related (c)2
Separation-related (d)(1)
Adjusted EBITDA$ 156
2025
Net income/(loss)$ 61
$ 87
$ 105
$ (60)
$ 193Provision/(benefit) for income taxes18
29
37
(12)
70Depreciation and amortization15
15
15
16
62Interest expense, net33
34
36
36
139Stock-based compensation9
8
8
14
41Development advance notes amortization7
8
8
9
32Impairment (e)—
—
—
86
86Revo-related (c)—
—
—
74
74Restructuring and other-related (a)—
13
2
2
18Transaction-related (b)1
1
1
—
2Separation-related (d)1
—
—
—
1Foreign currency impact of highly inflationary countries (f)—
—
1
—
—Adjusted EBITDA$ 145
$ 195
$ 213
$ 165
$ 718
NOTE: Amounts may not add due to rounding.(a) 2026 amount primarily consists of employee-related costs in connection with a restructuring plan. 2025 amounts primarily consist of employee-related costs and real estate costs related to a call center closure in connection with a restructuring plan. (b) Represents costs related to corporate transactions, including the Company's defense of an unsuccessful hostile takeover attempt and the Company's issuance of 5.625% senior unsecured notes.(c) 2026 amount consists of professional fees associated with Revo's ongoing insolvency, which is reflected in general and administrative expenses on the Condensed Consolidated Statements of Income. 2025 amount represents a provision for accounts and loans receivable from Revo, which is reflected in operating expenses on the Condensed Consolidated Statements of Income.(d) Represents (income)/costs associated with the Company's spin-off from Wyndham Worldwide.(e) Represents an impairment of development advance notes and intangible assets related to Revo.(f) Relates to the foreign currency impact from hyper-inflation, primarily in Argentina, which is reflected in operating expenses on the Condensed Consolidated Statements of Income. Table 7 (continued)WYNDHAM HOTELS & RESORTSNON-GAAP RECONCILIATIONS(In millions, except per share data)
Reconciliation of Net Income and Diluted EPS to Adjusted Net Income and Adjusted Diluted EPS:
Three Months Ended March 31,
2026
2025Diluted earnings per share$ 0.80
$ 0.78
Net income$ 61
$ 61
Adjustments:
Acquisition-related amortization (a)7
6Restructuring and other-related5
—Transaction-related3
1Revo-related 2
—Separation-related(1)
1Total adjustments before tax16
8Income tax provision (b)4
2Total adjustments after tax12
6Adjusted net income$ 73
$ 67Adjustments - EPS impact0.16
0.08Adjusted diluted EPS$ 0.96
$ 0.86
Diluted weighted average shares outstanding75.8
78.7
(a) Reflected in depreciation and amortization on the Condensed Consolidated Statements of Income.(b) Reflects the estimated tax effects of the adjustments. Table 8WYNDHAM HOTELS & RESORTS2026 OUTLOOKAs of April 29, 2026(In millions, except per share data)
2026Net revenues$1,465 – 1,495Adjusted EBITDA (a)
730 – 745Depreciation and amortization expense (b)
36 – 38Development advance notes amortization expense
35 – 37Stock-based compensation expense
41 – 43Interest expense, net
144 – 146Adjusted income before income taxes
468 – 487Income tax expense (c)
117 – 122Adjusted net income$351 – 365
Adjusted diluted EPS$4.62 – 4.80
Diluted shares (d)
75.9
Capital expenditures
$40 – 45Development advance notes
Approx. $110
Free cash flow conversion rate
~55 - 60%
Year-over-Year Growth
Global RevPAR (e)
(1.0%) – 1.0%Number of rooms (f)
4.0% – 4.5%
(a) Includes the effects of the deferral of $12 million of royalties and franchise fees from Revo and the inclusion of $15 million of previously disclosed one-time variable cost reductions made in 2025; excluding which comparable basis growth rates would be 5% - 7%.(b) Excludes amortization of acquisition-related intangible assets of approximately $26 million.(c) Outlook assumes an effective tax rate of approximately 25%.(d) Excludes the impact of any share repurchases after March 31, 2026.(e) Represents constant currency basis; on a reported basis, which includes foreign currency impacts, would be (1.0%) - 1.0%. (f) Excludes any potential room termination impact associated with Revo's ongoing insolvency. To assist with modeling, each 1% change in RevPAR equates to an approximate $10 million impact to net revenues and $4 million to adjusted EBITDA. If a significant pullback in demand were to materialize beyond the Company's current assumptions, actual results could fall below these estimates.In determining adjusted EBITDA, interest expense, net, adjusted income before income taxes, adjusted net income, adjusted diluted EPS and free cash flow conversion rate, the Company exclude's certain items which are otherwise included in determining the comparable GAAP financial measures. The Company is providing these measures on a non-GAAP basis only because, without unreasonable efforts, it is are unable to predict with reasonable certainty the occurrence or amount of all 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.Table 9
WYNDHAM HOTELS & RESORTS
DEFINITIONSAdjusted Net Income and Adjusted Diluted EPS: Represents net income and diluted earnings per share excluding acquisition-related amortization, impairment and other-related charges (including Revo-related charges), significant accelerated depreciation, restructuring and other-related charges, contract termination costs, separation-related items, transaction-related items (acquisition-, disposition-, or debt-related), (gain)/loss on asset sales, foreign currency impacts of highly inflationary countries and special tax items. The Company calculates the income tax effect of the adjustments using an estimated effective tax rate applicable to each adjustment.Adjusted EBITDA: Represents net income excluding net interest expense, depreciation and amortization, early extinguishment of debt charges, impairment and other-related charges (including Revo-related charges), restructuring and other-related charges, contract termination costs, separation-related items, transaction-related items (acquisition-, disposition-, or debt-related), (gain)/loss on asset sales, foreign currency impacts of highly inflationary countries, stock-based compensation expense, income taxes and development advance notes amortization. Adjusted EBITDA is a financial measure that is not recognized under U.S. GAAP and should not be considered as an alternative to net income or other measures of financial performance or liquidity derived in accordance with U.S. GAAP. In addition, the Company's definition of adjusted EBITDA may not be comparable to similarly titled measures of other companies.Ancillary Revenues: Represents the summation of the license and other fees line item and other revenues line item per the income statement.Average Daily Rate (ADR): Represents the average rate charged for renting a Room for one day.Average Occupancy Rate: Represents the percentage of available Rooms occupied during the period.Comparable Basis: Represents a comparison eliminating Marketing Fund Variability.Constant Currency: Represents a comparison eliminating the effects of foreign exchange rate fluctuations between periods (foreign currency translation) and the impact caused by any foreign exchange related activities (i.e., hedges, balance sheet remeasurements and/or adjustments).FeePAR: Represents annual royalties per franchised Room and is calculated by dividing total annual royalty revenue of the Company's franchised hotels by the number of franchised Rooms in its system size.Free Cash Flow: Reflects net cash provided by operating activities excluding development advances, less capital expenditures. The Company believes free cash flow to be a useful operating performance measure to it and investors. This measure helps the Company and investors evaluate its ability to generate cash beyond what is needed to fund capital expenditures, debt service and other obligations. Notwithstanding cash on hand and incremental borrowing capacity, free cash flow reflects the Company's ability to grow its business through investments and acquisitions, as well as its ability to return cash to shareholders through dividends and share repurchases or even to delever. Free cash flow is not a representation of how the Company will use excess cash. A limitation of using free cash flow versus the GAAP measure of net cash provided by operating activities as a means for evaluating Wyndham Hotels is that free cash flow does not represent the total cash movement for the period as detailed in the condensed consolidated statement of cash flows.Free Cash Flow Conversion Rate: Represents the percentage of adjusted EBITDA that is converted to free cash flow and provides insights into how efficiently the Company is able to turn profits into cash available for use, such as for investments (including development advance notes), debt reduction, dividends or share repurchases.Marketing Fund Variability: Relates to the quarterly timing variances from the Company's marketing funds. The Company's franchise agreements require the payment of marketing and reservation fees, and in accordance with these franchise agreements, the Company is generally contractually obligated to expend such fees for the benefit of each of its brands over time. Marketing and reservation fees earned are generally highest during the summer season when the franchised hotels have the highest occupancy and daily rates, while marketing and reservation expenses are generally highest during the first half of the year in an effort to drive higher occupancy in the summer months. Accordingly, the seasonality of the marketing and reservation revenues and expenses results in adjusted EBITDA variability during the quarters throughout the year but are designed such that on a full-year basis, the Company's marketing funds break even.Net Debt Leverage Ratio: Calculated by dividing total debt less cash and cash equivalents by trailing twelve months adjusted EBITDA.RevPAR: Represents revenue per available franchised or managed/owned Room and is calculated by multiplying average occupancy rate by ADR.Rooms: Represents the number of rooms at the end of the period which are (i) either under franchise and/or management agreements, excluding all rooms associated with the Company's Super 8 master licensee in China, (ii) Company-owned, and (iii) properties under affiliation agreements for which the Company receives a fee for reservation and/or other services provided.Royalty Rate: Represents the average royalty rate earned on the Company's franchised Rooms and is calculated by dividing total royalties, excluding the impact of amortization of development advance notes, by total room revenues.
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Original: WYNDHAM HOTELS & RESORTS REPORTS STRONG FIRST QUARTER RESULTS
US Market News
1月前
Dolce by Wyndham Expands U.S. PortfolioApril 23, 2026 8:00 AM
PR Newswire (US)
Recent openings in Miami Beach, Palm Springs and the Hudson Valley elevate brand's global offerings while emphasizing design, sense of place and elevated experiencesHIGHLIGHTSDolce by Wyndham is expanding its U.S. footprint with three new hotels in Miami Beach; Palm Springs, Calif.; and New York's Hudson Valley.The new properties showcase design-forward stays rooted in their surroundings, with distinctive character, elevated amenities and thoughtfully curated experiences that reflect each destination.The openings reinforce Wyndham's broader strategy to scale its upscale and lifestyle portfolio in top national and regional travel markets while driving long-term value for owners.PARSIPPANY, N.J., April 23, 2026 /PRNewswire/ -- Wyndham Hotels & Resorts is expanding its Dolce by Wyndham footprint in the U.S. with three new openings in Miami Beach; Palm Springs, Calif.; and the Hudson Valley (Tarrytown, N.Y.)—bringing the upscale, design-driven brand to some of the country's most sought-after national and regional travel destinations.
As demand grows for stays that seamlessly blend place, design, and culture, Dolce is entering markets that naturally deliver on all three. With a curated mix of boutique-style properties and group-friendly hotels, the brand continues to evolve and grow its portfolio, tailoring each new offering to the rhythms and expectations of today's modern traveler."At the heart of the Dolce brand are hotels rooted in their destinations, with experiences shaped by place, design and how people want to travel today. As the brand further expands, we're growing in high-demand destinations that leave a lasting impression, building a portfolio of properties that deliver thoughtful, consistent, high-quality stays that not only wow guests but help drive long-term value for owners."- Leo Danese, Vice President, Upscale and Lifestyle Brands, Wyndham Hotels & ResortsDistinctive Destinations, Designed to Inspire
From vibrant coastal escapes to serene desert retreats and historic Hudson Valley settings, Dolce's newest openings highlight the brand's commitment to delivering unique, design-forward stays in sought-after destinations.Dolce by Wyndham Miami Beach
Located in the heart of South Beach, the 90-room boutique hotel offers a design-forward retreat just steps from the ocean, the Miami Beach Convention Center and Lincoln Road. Guest rooms feature private balconies, plush bedding and light-filled interiors, blending Mediterranean warmth with modern comfort—all complemented by curated works from internationally acclaimed photographer Greg Lotus throughout the property.Designed for both relaxation and energy, the hotel features inviting social spaces, elevated dining and seamless access to Miami's renowned beaches, nightlife and cultural attractions. Whether guests are in town for a weekend escape, a convention or a longer stay, the property delivers a vibrant, highly connected experience rooted in its surroundings.V Capri Palm Springs, a Dolce by Wyndham
Set against the backdrop of the San Jacinto Mountains, V Capri Palm Springs, a Dolce by Wyndham, offers a retro-chic desert escape designed for both relaxation and connection. Just minutes from downtown and the Palm Springs International Airport, the hotel features more than 140 guest rooms and suites with private patios or balconies, many with mountain or pool views.The property blends mid-century inspiration with modern comforts, highlighted by resort-style pools, cabanas and an adults-only poolside bar. Guests can enjoy creative dining at GiGi's, along with a range of additional amenities including a 24/7 fitness center and flexible gathering spaces, making it ideal for both leisure and group travelers.Sleepy Hollow Hotel, a Dolce by Wyndham
Located in New York's scenic Hudson Valley just 30 minutes from New York City, Sleepy Hollow Hotel, a Dolce by Wyndham offers a tranquil, estate-style retreat set on expansive grounds. The hotel features more than 240 spacious guest rooms and suites, along with an indoor pool, fitness center and on-site dining. With convenient access to the city, the property is an attractive option for groups seeking a spacious, scenic destination, surrounded by iconic landmarks such as Kykuit, the Rockefeller Estate and Lyndhurst Mansion. With over 30,000 square feet of flexible meeting and event space, including one of the largest ballrooms in Westchester County, the property offers an ideal setting for conferences, weddings and retreats, all set across 11 acres of landscaped grounds in the heart of the Hudson Valley. Defined by Place, Designed for Stay
The Dolce portfolio spans distinctive destinations around the world, known for thoughtful design, a strong sense of place and a longstanding heritage in creating environments that foster connection—from elevated leisure stays to inspired meetings and events. Notable properties around the world include Dolce by Wyndham Versailles in France, set on the grounds of the historic Domaine du Montcel; Dolce by Wyndham Çesme Alaçati in Türkiye, offering a refined coastal escape along the Aegean; and Dolce by Wyndham Siracusa, a Sicilian escape where Mediterranean charm meets elevated, design-forward hospitality.Rooted in this tradition, Dolce by Wyndham delivers hotels that reflect their destinations while harnessing Wyndham's global scale, expansive distribution network and the reach of its award-winning Wyndham Rewards® program—now inclusive of more than 122 million enrolled members worldwide. For owners, the brand offers the best of both worlds: a flexible upscale platform that drives guest appeal and long-term performance, supported by the visibility, demand, and proven results of Wyndham's global system.For more information, including franchising opportunities, visit www.wyndhamdevelopment.com.About Dolce Hotels and Resorts by Wyndham
Inspirational environments foster big ideas. That's the philosophy behind Dolce Hotels and Resorts by Wyndham®. A curated collection of unique destinations, Dolce redefined modern meetings using creative spaces, state-of-the-art technology, nourishing food and beverage programs and inspired activities. From Miami Beach to Hanoi, Dolce's breathtaking locations provide the backdrop to incredible travel experiences. Learn more at www.dolce.com.About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world's largest hotel franchising company by the number of franchised properties, with over 8,300 hotels across approximately 100 countries on six continents. Through its network of approximately 869,000 franchised and affiliated 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®, ECHO Suites®, Registry Collection Hotels®, Trademark Collection® and Wyndham®. The Company's award-winning Wyndham Rewards® loyalty program offers over 122 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.
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Original: Dolce by Wyndham Expands U.S. Portfolio
US Market News
3月前
Trademark Collection by Wyndham Marks Milestone, Surpasses 100 U.S. HotelsMarch 16, 2026 8:00 AM
PR Newswire (US)
Doubling in size in the last five years, brand's double-digit YOY growth reflects rising interest from independents eager to tap into the power of the world's largest hotel franchisorPARSIPPANY, N.J., March 16, 2026 /PRNewswire/ -- Wyndham Hotels & Resorts, the world's largest hotel franchisor with more than 8,300 hotels spanning approximately 100 countries, is celebrating a major milestone for its Trademark Collection by Wyndham brand: more than 100 hotels now open across the U.S.
The achievement highlights a rapid rise for the highly-sought-after soft-brand, which, as the fastest growing in the U.S., has doubled the size of its domestic portfolio in the last five years as independents increasingly turn to Wyndham to help pair their hotels' unique character and individuality with the reach and revenue driving power of a global hospitality leader. That demand has also helped the brand grow to nearly 350 hotels globally with more than 100 additional hotels in the pipeline."Independent hotel owners don't want to trade their identity for scale—and with Trademark Collection by Wyndham, they don't have to. The brand gives them the freedom to keep what makes their hotels special while tapping into the power of Wyndham. Crossing 100 hotels in the U.S. is a major moment and just the latest proof point that more independent owners are choosing Trademark Collection to help them compete and grow on their terms."– Leo Danese, Vice President of Lifestyle Brands, Wyndham Hotels & ResortsDistinctive Hotels Driving U.S. Growth
Since launching in 2017, the U.S. portfolio of Trademark Collection hotels has expanded to reflect growing consumer demand for distinctive stays in destination-driven markets, from gaming resorts and iconic leisure destinations to design-forward urban hotels. Among some of the brand's notable properties:The Galt House Hotel, Trademark Collection by Wyndham — The flagship of the Trademark Collection brand and one of the largest independent hotels in the country, the iconic riverfront property in Louisville spans more than 1,300 rooms and has long served as a centerpiece of the city's hospitality scene.
The Orbit Hotel, Trademark Collection by Wyndham — Set within a converted NASA facility near Cleveland, the hotel blends mid-century design with space-age inspiration, offering guests a stay that nods to the region's aerospace heritage while reflecting Trademark Collection's focus on properties with distinctive character and stories rooted in place.
MB Hotel, Trademark Collection by Wyndham — Located in Miami Beach, this boutique oceanfront hotel blends Art Deco heritage with contemporary design. Steps from the sand and the neighborhood's vibrant dining and cultural scene, guests enjoy a relaxed coastal stay that captures the character of one of the city's most storied districts.
Hilo Hawaiian Hotel, Trademark Collection by Wyndham — Overlooking Hilo Bay with sweeping views of Mauna Kea, the hotel places guests within easy reach of Hawai?i Volcanoes National Park and the island's lush eastern coastline, reinforcing the brand's growing portfolio across the aloha state.
The Beekman Tower, Trademark Collection by Wyndham — Located on Manhattan's East Side in the historic Turtle Bay neighborhood, the hotel offers spacious apartment-style accommodations with kitchenettes and a rooftop lounge featuring sweeping views of the East River and United Nations headquarters. "Trademark Collection gives hotels like ours the ability to stay independent while tapping into the scale and expertise of Wyndham. With the support of Wyndham's global platform—from revenue management and technology to distribution and loyalty—we've been able to strengthen performance while continuing to deliver the distinctive boutique experience our guests expect."- Manolis Macropulos, Owner, MB Hotel, Trademark Collection by WyndhamA Growing Global Footprint
Outside the U.S., Trademark Collection continues to expand across key international destinations, with a portfolio spanning Caribbean beachfront resorts and European landmark hotels to design-forward city-center stays across Asia-Pacific. Among some of the brand's notable properties:Hotel Traveltine Downtown Singapore, Trademark Collection by Wyndham — Located in Singapore's Kampong Glam district, the hotel features modern guestrooms and a rooftop pool overlooking the city skyline, with easy access to heritage neighborhoods, shopping and major business hubs.
The Proud Karon Beach Phuket, Trademark Collection by Wyndham — Set just a short walk from Karon Beach in Phuket, the contemporary resort-style hotel offers spacious rooms with private balconies, an outdoor swimming pool, fitness center and on-site dining, providing easy access to local markets, restaurants and the island's popular beach attractions.
Fontinha Porto, Trademark Collection by Wyndham — Nestled in the heart of Porto and built on the site of a former quarry, the contemporary boutique hotel features stylish guestrooms, a Mediterranean restaurant and a garden terrace, all within walking distance of Santa Catarina Street shopping, Clérigos Tower and the historic Ribeira district.
Hotel MX condesa CDMX, Trademark Collection by Wyndham — Located in Mexico City's stylish Condesa neighborhood, the hotel offers modern accommodations steps from leafy parks, Art Deco architecture and some of the capital's most celebrated cafés, restaurants and galleries, with convenient access to Roma Norte and Chapultepec Park.
Grand Decameron Complex Bucerias, a Trademark All-Inclusive Resort — Set along the sandy shores of Bucerías in Riviera Nayarit, the expansive all-inclusive beachfront resort is composed of three colonial-style hotels and features multiple pools, over a dozen restaurants and bars, sports facilities and daily entertainment.Powered by the Wyndham Advantage
Hotels joining Trademark Collection by Wyndham gain access to the Wyndham Advantage—a powerful combination of global distribution, world-class marketing and advanced technology designed to help owners compete and grow. Since 2018, Wyndham has invested more than $425 million in technology, strengthening its digital infrastructure, distribution capabilities and revenue management tools for franchisees. Owners also benefit from Wyndham Rewards®, the company's award-winning loyalty program with nearly 122 million enrolled members worldwide, creating new opportunities to capture demand from millions of loyal travelers worldwide.For more information on Trademark Collection by Wyndham, including franchising opportunities, visit WyndhamDevelopment.com.Additional photos are available here.About Trademark Collection by Wyndham
Character. Charm. Individuality. These are the attributes of Trademark Collection by Wyndham. From landmark hotels in Europe, Asia, The Americas and the Caribbean, to the brand's flagship hotel, The Galt House Hotel in Louisville, Ky., Trademark hoteliers are passionate about delivering distinct, one-of-a-kind travel experiences. Book your next stay at WyndhamHotels.com/Trademark, and follow Trademark Collection on Facebook and Instagram. For development opportunities, visit WyndhamDevelopment.com.About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world's largest hotel franchising company by the number of franchised properties, with over 8,300 hotels across approximately 100 countries on six continents. Through its network of approximately 869,000 franchised and affiliated 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®, ECHO Suites®, Registry Collection Hotels®, Trademark Collection® and Wyndham®. The Company's award-winning Wyndham Rewards® loyalty program offers over 122 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.
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Original: Trademark Collection by Wyndham Marks Milestone, Surpasses 100 U.S. Hotels
US Market News
3月前
Wyndham Hotels & Resorts Appoints Amit Sripathi Chief Financial OfficerMarch 3, 2026 6:30 AM
PR Newswire (US)
David Wilner Assumes Chief Development Officer RoleCompany Reaffirms Full-Year 2026 OutlookPARSIPPANY, N.J., March 3, 2026 /PRNewswire/ -- Wyndham Hotels & Resorts, Inc. (NYSE: WH) today announced that following a comprehensive search process, Amit Sripathi has been appointed Chief Financial Officer, effective immediately. Mr. Sripathi, who most recently served as the Company's Chief Development Officer – North America, succeeds Kurt Albert who has served as Interim Chief Financial Officer since November. Additionally, the Company has named David Wilner, a 30-year franchise sales veteran, as Chief Development Officer – North America. Both will report to Geoff Ballotti, President and Chief Executive Officer.Together these appointments reinforce Wyndham's continued focus on driving FeePAR accretive net room growth and creating compounding value for franchisees, guests and shareholders."Amit's combination of deep finance and capital markets expertise coupled with firsthand operational leadership at Wyndham make him the ideal candidate to lead our finance organization. Amit is uniquely qualified to deliver on our shareholder expectations and has proven himself a champion of owners, as evidenced by Wyndham's record openings, executions and development pipelines both here in the U.S. and internationally. We are confident in his ability to build on our sustained successes and capture opportunities that will drive increased profitability for our franchisees, while returning excess capital to shareholders in a consistent and sustainable manner."- Geoff Ballotti, President and CEO, Wyndham Hotels & ResortsMr. Sripathi joined Wyndham in 2021 and has served in a variety of leadership roles at the Company, most recently as Chief Development Officer – North America. He possesses significant operational and finance experience across the lodging industry, including driving the Company's growth and capital allocation strategy. During his tenure, Mr. Sripathi helped Wyndham achieve 20 consecutive quarters of organic net room growth and oversaw the divestiture of the Company's owned hotels. Prior to Wyndham, Mr. Sripathi was with RLJ Lodging Trust, responsible for Capital Markets and Corporate Finance and served in roles of increasing responsibility in the Real Estate, Lodging and Gaming investment banking group at Deutsche Bank."Wyndham is a truly unique company with an asset-light franchise business model that consistently delivers for its owners and shareholders. Our priority is to maintain our rigorous financial discipline and capital allocation strategy to ensure we achieve our long-term growth objectives and maximize shareholder returns. I very much look forward to partnering with the entire leadership team to drive enhanced value creation and build on the "Count on Me" culture that defines our Company." - Amit Sripathi, Chief Financial Officer, Wyndham Hotels & ResortsIn his new role, Mr. Wilner will lead the Company's North American franchise sales and architecture design & construction teams. During his nearly eight years at the Company, he has helped franchisees tap into the power of the Wyndham Advantage and the Company's iconic brands. Under his leadership Wyndham created and launched ECHO Suites Extended Stay by Wyndham, the fastest growing extended stay brand in the industry. Prior to joining Wyndham, Mr. Wilner spent 20 years as part of the franchise sales leadership team for La Quinta."From leading development at La Quinta prior to Wyndham's acquisition of the brand to driving growth across our new construction prototype brands including La Quinta, WaterWalk, Hawthorn Suites, ECHO Suites and Microtel, David has tremendous expertise translating owners' needs into strategic growth. Owners and team members view him as a sincere and trusted partner who is most focused on our owner's success, while helping our teams accelerate domestic net room growth across all of Wyndham's brands."- Geoff Ballotti, President and CEO, Wyndham Hotels & ResortsIn conjunction with this announcement, Wyndham has reaffirmed its full-year 2026 outlook provided in its fourth-quarter 2025 earnings materials, released on February 18, 2026.Photos associated with the above release are available for download here.About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world's largest hotel franchising company by the number of franchised properties, with over 8,300 hotels across approximately 100 countries on six continents. Through its network of approximately 869,000 franchised and affiliated 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®, ECHO Suites®, Registry Collection Hotels®, Trademark Collection® and Wyndham®. The Company's award-winning Wyndham Rewards® loyalty program offers over 122 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.Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the federal securities laws, including statements related to Wyndham's current views and expectations with respect to its future performance, growth and shareholder value. Forward-looking statements are any statements other than statements of historical fact, including 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," "predict," "intend," "goal," "future," "forward," "remain," "confident," "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 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, which may impact decisions by consumers and businesses to use travel accommodations; global trade disputes, including with China; 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 ability of franchisees to pay back loans owed to Wyndham; the impact of prior or any future impairment charges related to the credit Wyndham extends to its franchisees; the impact of war, terrorist activity, political instability or political strife; global or regional health crises or pandemics including the resulting impact on Wyndham's business, operations, financial results, cash flows and liquidity, as well as the impact on its franchisees, guests and team members, the hospitality industry and overall demand for and restrictions on travel; 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 Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. These risks and uncertainties are not the only ones Wyndham may face and additional risks may arise or become material in the future. Wyndham undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.
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Original: Wyndham Hotels & Resorts Appoints Amit Sripathi Chief Financial Officer
US Market News
3月前
Wyndham Levels Up Group Travel with New End-to-End Booking and Management ToolsFebruary 26, 2026 8:00 AM
PR Newswire (US)
Enhancements to the Company's group booking platform bring real-time visibility, simplified coordination and centralized management to planners and hotels alike—at no additional costPARSIPPANY, N.J., Feb. 26, 2026 /PRNewswire/ -- Wyndham Hotels & Resorts is elevating the group travel experience with new enhancements to its direct booking platform (groups.wyndhamhotels.com), introducing real-time visibility, customizable booking tools and centralized management designed to simplify how group stays are planned and managed. Powered by Groups360 and its GroupSync Housing platform, the upgraded offering allows planners to manage bookings end-to-end—from reservation to check-in—while helping hotels improve efficiency and drive stronger group performance.
The move addresses one of the most persistent challenges in group travel: the manual, fragmented work that happens after a booking is made. By bringing booking, tracking and guest management into a single, connected experience, Wyndham is helping to reduce administrative complexity for planners, improve conversion and visibility for hotels and make it easier for groups of all kinds—from weddings and reunions to youth sports and corporate travel—to coordinate their stays."Group travel should be simple. By extending our digital capabilities beyond the initial transaction, Wyndham is creating a more connected, end-to-end experience for planners—helping drive conversion, improve visibility and ease the operational burden on hotel teams. Whether it's a wedding, a family reunion, a youth sport event, a team off-site or even project-based infrastructure work, we're making it easier than ever to do group business with Wyndham and our franchisees."- Angie Gadwood, Senior Vice President, Sales, Wyndham Hotels & ResortsEverything Planners Need, All in One Place
Built as part of Wyndham's ongoing commitment to smarter, more intuitive travel solutions, Wyndham's enhancements to its group bookings platform bring everything into one centralized place, affording planners added clarity and confidence while helping hotels achieve stronger room-block performance and higher group conversion. Key features include:Real-Time Booking Dashboard
Planners can see who's booked, track progress, and make updates instantly—everything is managed in one place, reducing the need for spreadsheets or back-and-forth with hotel teams.Customizable Wyndham-Branded Booking Page
Each group gets a fully personalized booking page, giving guests a seamless, one-link experience with no logins or promo codes.Instant Group Rates & Wyndham Rewards® Points
Guests can automatically see and book at the group rate—no promo codes or special instructions needed—and can earn Wyndham Rewards points on qualifying stays.Direct Integration with Hotel Systems
All bookings sync seamlessly with hotel systems, reducing the need for individual coordination or front-desk calls while keeping reservations accurate.Flexible Early Arrival & Late Departure (Shoulder Nights)
Guests can extend their stay before or after the main event, giving planners fewer exceptions to manage and hotels more opportunity to capture revenue.Expanding Access for the Groups That Travel Most
Beyond enhancements to its group booking platform, Wyndham has also expanded how it sources group demand, meeting planners where they already are. Through strategic partnerships with leading third-party group travel platforms such as EventPipe, EventConnect and Staybook—widely used by youth sports tournaments, scholastic organizations and large-scale events to manage team travel—Wyndham is helping connect franchisees to high-volume, repeat group business.These platforms serve as centralized hubs where tournament directors, event organizers and travel planners coordinate lodging for dozens, sometimes hundreds, of teams and attendees at a time. By integrating with them, Wyndham is making its hotels more visible and accessible within the booking workflows these groups already rely on, helping drive incremental demand, increase occupancy and reduce the need for manual sourcing at the property level.The approach reflects the next phase of Wyndham's broader sales strategy and builds on initiatives like Wyndham Business, Wyndham Rewards Business and Wyndham Direct—all designed to remove friction, modernize workflows and make it easier to do business with Wyndham across every customer segment. From group booking technology and system-to-system integrations to simplified billing, payments and rewards, Wyndham continues to invest in a more connected commercial ecosystem that helps deliver value for planners, guests and franchisees alike."Everything we're building is designed around one simple goal: making it easier for people to do business with Wyndham. For planners, that means faster booking, better visibility, and less manual work. For franchisees, it's the opportunity for smarter demand capture, stronger conversion, and technology that helps them operate more efficiently. These investments are another important step in creating a modern commercial ecosystem where everyone benefits."- Brian Krail, Group Vice President, Commercial Ops & Sales Strategy, Wyndham Hotels & ResortsWyndham's latest enhancements to its group booking platform come at no additional cost to planners or franchisees and build on the Company's existing relationship with Groups360, which in 2023, introduced instant online booking for group travel across thousands of hotels by Wyndham, reducing reliance on the traditional RFP model.For a limited time, planners can save 15% off standard rates on instant group bookings of 10+ rooms. To qualify, stays must be booked by March 17, 2026 and completed by December 30, 2026. Terms and conditions apply. To learn more or to book, visit groups.wyndhamhotels.com.About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world's largest hotel franchising company by the number of franchised properties, with over 8,300 hotels across approximately 100 countries on six continents. Through its network of approximately 869,000 franchised and affiliated 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®, ECHO Suites®, Registry Collection Hotels®, Trademark Collection® and Wyndham®. The Company's award-winning Wyndham Rewards® loyalty program offers over 122 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. About Wyndham Business
Designed for businesses of all sizes, Wyndham Business is a comprehensive suite of tools and resources that help business owners and their employees simplify and make the most of their travel. Anchored by Wyndham Rewards® Business, a B2B extension of Wyndham's top-rated rewards program known for both its simplicity and generosity, the program offers rich savings and rewards, streamlined billing, membership upgrades, easy point management and more. Together, these benefits reflect Wyndham's broader strategy to modernize how businesses book, manage, and optimize travel as part of the Company's ongoing evolution in global sales and distribution, bringing digital booking, rewards, and billing solutions together to create a more connected, end-to-end commercial ecosystem. Learn more at WyndhamBusiness.com.
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Original: Wyndham Levels Up Group Travel with New End-to-End Booking and Management Tools
US Market News
4月前
WYNDHAM HOTELS & RESORTS REPORTS FOURTH QUARTER RESULTSFebruary 18, 2026 4:30 PM
PR Newswire (US)
Company Increases Quarterly Dividend by 5% and Provides Full-Year 2026 OutlookPARSIPPANY, N.J., Feb. 18, 2026 /PRNewswire/ -- Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months and year ended December 31, 2025. Highlights include:
System-wide rooms grew 4% year-over-year.Awarded 870 development contracts globally in 2025, an increase of 18% year-over-year and an all-time high.Development pipeline grew 3% year-over-year and 1% sequentially to a record 259,000 rooms. Ancillary revenues increased 15% on a full-year basis - achieving an all-time high. Full-year 2025 diluted EPS decreased 31% to $2.50 from $3.61 primarily reflecting non-cash impairment and other-related charges; however, adjusted diluted EPS increased 6% to $4.58, or approximately 6% on a comparable basis. Full-year 2025 net income decreased 33% to $193 million from $289 million primarily reflecting non-cash impairment and other-related charges; however, adjusted net income increased 2% to $353 million, or approximately 2% on a comparable basis.Full-year 2025 adjusted EBITDA increased 3% to $718 million, or 4% on a comparable basis - in line with the Company's expectations. Net cash provided by operating activities of $367 million and adjusted free cash flow of $433 million.Returned $393 million to shareholders for the full-year through $266 million of share repurchases and quarterly cash dividends of $0.41 per share. Board of Directors recently authorized a 5% increase in the quarterly cash dividend to $0.43 per share beginning with the dividend expected to be declared in the first quarter 2026."Our teams around the world opened a record 72,000 rooms, delivered 4% global net room growth and grew our global development pipeline to a record 259,000 rooms," said Geoff Ballotti, president and chief executive officer. "Despite continued negative U.S. RevPAR pressure, we grew full-year comparable-basis adjusted EBITDA and adjusted EPS in 2025 by 4% and 6%, respectively, generated adjusted free cash flow of more than $430 million and returned nearly $400 million to shareholders. As demand trends improve and RevPAR stabilizes, we remain confident in our long-term strategy while creating compounding value for franchisees, guests and shareholders."Reporting MethodologyBeginning in the second quarter of 2025, the Company revised its reporting methodology to exclude the impact of all rooms under the Super 8 China master license agreement from its reported system size, RevPAR and royalty rate, and corresponding growth metrics. The Company's financial results will continue to reflect fees due from the Super 8 master licensee in China, which contributed approximately $2 million to the Company's full-year 2025 consolidated adjusted EBITDA.System Size and Development
Rooms
December 31,
2025
December 31,
2024
YOY
Change (bps)United States
505,100
501,800
70International
363,800
333,900
900Global
868,900
835,700
400The Company's global system grew 4%, including 1% growth in the U.S. and 7% growth in the Company's higher RevPAR EMEA and Latin America regions.As of December 31, 2025, the Company's global development pipeline increased 3% vs. prior-year to a record-high level of approximately 2,200 hotels and 259,000 rooms. Key highlights include:3% pipeline growth in both the U.S. and internationallyApproximately 70% of the pipeline is in the midscale and above segments, which grew 3% year-over-yearApproximately 17% of the pipeline is in the extended stay segmentApproximately 42% of the pipeline is in the U.S.Approximately 77% of the pipeline is new construction and approximately 36% of these projects have broken ground; rooms under construction grew 3% year-over-yearRevPAR
Fourth
Quarter 2025
YOY
Constant
Currency
% Change
Full-Year
2025
YOY
Constant
Currency
% ChangeUnited States
$ 42.91
(8 %)
$ 48.44
(4 %)International
36.96
(1)
38.13
—Global
40.36
(6)
44.12
(3)Fourth quarter global RevPAR decreased 6% in constant currency compared to 2024, reflecting declines of 8% in the U.S. and 1% internationally. In the U.S., fourth quarter results included approximately 140 basis points of unfavorable hurricane impacts; excluding which, RevPAR declined approximately 610 basis points year-over-year reflecting a 360 basis-point reduction in occupancy and a 250 basis-point decline in ADR. Softer results in Florida, Texas and California were partially offset by continued strength across the Midwest.Internationally, constant currency growth of 7% in EMEA and 6% in Latin America, each reflected both improved demand and pricing power, while growth of 1% in Canada was driven by pricing power, partially offset by lower demand. The growth in those regions was more than offset by softness in Asia Pacific, including China where RevPAR declined 10%.For the full-year, global RevPAR decreased 3% in constant currency compared to 2024, in line with the Company's outlook, reflecting a 4% decline in the U.S. and flat growth internationally. U.S. results reflected a 270 basis-point reduction in occupancy and a 120 basis-point decline in ADR.Operating ResultsFourth QuarterThe comparability of the Company's fourth quarter results is impacted by marketing fund variability. 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.
Fee-related
and other
revenues
Net
income/
(loss)(a)
Adjusted
EBITDA
Reported
diluted
earnings/
(loss) per
share(a)
Adjusted
diluted
EPS(a)2024 reported$ 341
$ 85
$ 168
$ 1.08
$ 1.04
2025 reported334
(60)
165
(0.80)
0.93Change(7)
(145)
(3)
(1.88)
(0.11)Less: Marketing fund variabilityn/a
(6)
(7)
(0.08)
(0.07)Comparable growth$ (7)
$ (139)
$ 4
$ (1.80)
$ (0.04)
Comparable growth rate(2 %)
NM
2 %
NM
(4 %)_____________________NOTE:Growth rates may not recalculate due to rounding; see Table 7 for a reconciliation of non-GAAP metrics and Table 9 for definitions.(a) Includes estimated tax impact of marketing fund variability.Fee-related and other revenues were $334 million compared to $341 million in the fourth quarter of 2024, reflecting a 5% decline in RevPAR and lower other franchise fees, partially offset by a 19% increase in ancillary revenue and global net room growth of 4%.The Company generated a net loss of $60 million compared to net income of $85 million in the fourth quarter of 2024, reflecting impairment and other-related costs, lower adjusted EBITDA and higher interest expense. Adjusted net income was $71 million compared to $82 million in the fourth quarter of 2024.Adjusted EBITDA decreased 2% to $165 million compared to $168 million in the fourth quarter of 2024. This decrease included a $7 million unfavorable impact from expected marketing fund variability, excluding which adjusted EBITDA grew 2% on a comparable basis. This growth primarily reflects increased ancillary revenues and cost containment measures, including both operational efficiencies and one-time variable reductions, partially offset by lower royalties and franchise fees and elevated costs associated with insurance, litigation defense and employee benefits - all of which are reflective of the broader operating environment.The Company generated diluted loss per share of $0.80 compared to diluted earnings per share of $1.08 in the fourth quarter of 2024, which primarily reflects lower net income, partially offset by the benefit of a lower share count due to share repurchase activity.Adjusted diluted EPS decreased 11% to $0.93 compared to $1.04 in the fourth quarter of 2024. This decrease included an unfavorable impact of $0.07 per share related to marketing fund variability (after estimated taxes). On a comparable basis, adjusted diluted EPS decreased approximately 4% year-over-year primarily reflecting a higher effective tax rate, as expected, as well as higher interest expense, partially offset by comparable adjusted EBITDA growth and the benefit of share repurchase activity.Full-YearThe comparability of the Company's full-year 2025 results is impacted by marketing fund variability. The Company's reported results and comparable-basis results (adjusted to neutralize these impacts) are presented below to enhance transparency and provide a better understanding of the results of the Company's ongoing operations.
Fee-related
and other
revenues
Net
income(a)
Adjusted
EBITDA
Reported
diluted
EPS(a)
Adjusted
diluted
EPS(a)2024 reported$ 1,404
$ 289
$ 694
$ 3.61
$ 4.33
2025 reported1,429
193
718
2.50
4.58Change25
(96)
24
(1.11)
0.25Less: Marketing fund variabilityn/a
(2)
(2)
(0.02)
(0.02)Comparable growth$ 25
$ (94)
$ 26
$ (1.09)
$ 0.27
Comparable growth rate2 %
(33 %)
4 %
(30 %)
6 %_________________________NOTE:Growth rates may not recalculate due to rounding; see Table 7 for a reconciliation of non-GAAP metrics and Table 9 for definitions.(a) Includes estimated tax impact of marketing fund variability.Fee-related and other revenues grew 2% to $1.43 billion compared to $1.40 billion in full-year 2024 which reflects a 15% increase in ancillary revenues, higher pass-through revenues due to the Company's global franchisee conference and a 4% increase in global net room growth, partially offset by a 3% decline in RevPAR.Net income decreased 33% to $193 million compared to $289 million in full-year 2024, reflecting higher impairment and other-related costs, higher interest expense and the absence of a benefit in connection with the reversal of a spin-off related matter, which were partially offset by higher adjusted EBITDA and lower transaction-related expenses in connection with defending an unsuccessful hostile takeover attempt. Adjusted net income was $353 million compared to $347 million in full-year 2024.Adjusted EBITDA grew 3% to $718 million compared to $694 million in full-year 2024. This increase included a $2 million unfavorable impact, as expected, from marketing fund variability, excluding which adjusted EBITDA grew 4% on a comparable basis, primarily reflecting higher revenues and cost containment measures, including both operational efficiencies and one-time variable reductions, which were partially offset by lower royalties and franchise fees, along with elevated costs associated with insurance, litigation defense and employee benefits - all of which are reflective of the broader operating environment.Diluted earnings per share decreased 31% to $2.50 compared to $3.61 in full-year 2024, which primarily reflects lower net income, partially offset by the benefit of a lower share count due to share repurchase activity.Adjusted diluted EPS grew 6% to $4.58 compared to $4.33 in full-year 2024. This increase included an unfavorable impact of $0.02 per share, as expected, related to marketing fund variability (after estimated taxes). On a comparable basis, adjusted diluted EPS increased approximately 6% year-over-year reflecting comparable adjusted EBITDA growth and the benefit of share repurchase activity, partially offset by higher interest expense.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.Balance Sheet and LiquidityThe Company generated $367 million of net cash provided by operating activities and $433 million of adjusted free cash flow in 2025. The Company ended the quarter with a cash balance of $64 million and $840 million in total liquidity. The Company's net debt leverage ratio was 3.5 times at December 31, 2025, at the midpoint of the Company's 3 to 4 times stated target range and in line with expectations.Share Repurchases and DividendsDuring the fourth quarter, the Company repurchased approximately 0.6 million shares of its common stock for $43 million. For the full-year 2025, the Company repurchased approximately 3.1 million shares of its common stock for $266 million.The Company paid common stock dividends of $31 million, or $0.41 per share, during the fourth quarter 2025 for a total of $127 million, or $1.64 per share, for the full-year 2025.For the full-year 2025, the Company returned $393 million to shareholders through share repurchases and quarterly cash dividends.The Company's Board of Directors recently authorized a 5% increase in the quarterly cash dividend to $0.43 per share, beginning with the dividend expected to be declared in first quarter 2026.Impairment and Other ChargesDuring the preparation of its year-end 2025 financial statements, the Company learned that a large European franchisee, Revo Hospitality Group ("Revo") has filed for insolvency proceedings under self-administration for most of its operating entities.As a result, the Company has evaluated the recoverability of the carrying value of assets associated with Revo as of December 31, 2025 and has recorded charges of $74 million within operating expenses and $48 million within impairment on the Consolidated Statements of Income (Loss) to reflect the net realizable value on the Company's balance sheet.Additionally, as a result of Revo's insolvency proceedings and in the process of performing its quantitative assessments for impairment on its intangible assets, the Company determined that a portion of its Vienna House trademark and related-franchise agreements were impaired. Accordingly, the Company recorded impairment charges totaling $38 million to reduce the carrying value of those assets to their estimated fair values.Starting in the fourth quarter of 2025, the Company began deferring all revenues related to Revo due to uncertainty around collectability. These revenues will continue to accrue and will only be recognized as revenues following a period after which collections from Revo are deemed probable. The table below includes information about revenue recognition related to Revo for the periods presented:
Full-Year2024
Full-Year2025 (a)Royalties and franchise fees
$ 15
$ 12Marketing, reservation and loyalty fees (b)
8
8Total fee-related and other revenues (c)(d)
$ 23
$ 20__________________(a) Reflects deferral of fourth quarter revenues related to Revo due to uncertainty around collectability.(b) These fees are expected to approximate expenses on a full-year basis.(c) Excludes development advance notes amortization.(d) Approximately 22,000 rooms operated by Revo remain under the Company's brands and distributed on its channels as of December 31, 2025. As such, they will remain in the Company's global room count and RevPAR operating statistics for so long as the underlying agreements remain in effect. The historical impact of Revo's net room additions on the Company's global annual organic net room growth has been immaterial.OutlookThe Company provided the following outlook for full-year 2026:
2026 Outlook
Year-over-year rooms growth (a)
4.0% - 4.5%
Year-over-year global RevPAR growth (b)
(1.5%) - 0.5%
Fee-related and other revenues
$1.46 - $1.49 billion
Adjusted EBITDA (c)
$730 - $745 million
Adjusted net income
$354 - $368 million
Adjusted diluted EPS
$4.62 - $4.80
Free cash flow conversion rate
55% - 60%
_________________(a) Excludes any potential room termination impact associated with Revo's ongoing insolvency. (b) Represents constant currency basis; on a reported basis, which includes foreign currency impacts, would be (1.5%) - 0.5%.(c) Includes the effects of the deferral of $12 million of royalties and franchise fees from Revo and the inclusion of $15 million of previously disclosed one-time variable cost reductions made in 2025; excluding which comparable basis growth rate would be 5% - 7%.The Company expects marketing fund revenues to roughly equal expenses during full-year 2026 though seasonality of spend will affect the quarterly comparisons throughout the year.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 InformationWyndham Hotels will hold a conference call with investors to discuss the Company's results and outlook on Thursday, February 19, 2026 at 8:00 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 800 343-4136 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 February 19, 2026. A telephone replay will be available for approximately ten days beginning at noon ET on February 19, 2026 at 800 839-1320. Presentation of Financial InformationFinancial 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 & ResortsWyndham Hotels & Resorts (NYSE: WH) is the world's largest hotel franchising company by the number of franchised properties, with over 8,300 hotels across approximately 100 countries on six continents. Through its network of approximately 869,000 franchised and affiliated 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®, ECHO Suites®, Registry Collection Hotels®, Trademark Collection® and Wyndham®. The Company's award-winning Wyndham Rewards loyalty program offers over 122 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit https://investor.wyndhamhotels.com. The Company may use its website and social media channels as 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 or on the Company's social media channels, including the Company's LinkedIn account which can currently be accessed at https://www.linkedin.com/company/wyndhamhotels. Accordingly, investors should monitor this section of the Company's website and the Company's social media channels 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 StatementsThis press release contains "forward-looking statements" within the meaning of the federal securities laws, including statements related to Wyndham'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. Forward-looking statements are any statements other than statements of historical fact, including 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," "predict," "intend," "goal," "future," "forward," "remain," "confident," "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 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, which may impact decisions by consumers and businesses to use travel accommodations; global trade disputes, including with China; 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 ability of franchisees to pay back loans owed to Wyndham; the impact of prior or any future impairment charges related to the credit Wyndham extends to its franchisees; the impact of war, terrorist activity, political instability or political strife; global or regional health crises or pandemics including the resulting impact on Wyndham's business, operations, financial results, cash flows and liquidity, as well as the impact on its franchisees, guests and team members, the hospitality industry and overall demand for and restrictions on travel; 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 Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. These risks and uncertainties are not the only ones Wyndham may face and additional risks may arise or become material in the future. Wyndham undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.Table 1WYNDHAM HOTELS & RESORTSINCOME (LOSS) STATEMENT(In millions, except per share data)(Unaudited)
Three Months Ended December 31,
Year Ended December 31,
2025
2024
2025
2024Net revenues
Royalties and franchise fees$ 121
$ 136
$ 541
$ 555Marketing, reservation and loyalty131
135
562
563Management and other fees2
3
9
10License and other fees31
30
126
119Other49
37
191
157Fee-related and other revenues334
341
1,429
1,404Cost reimbursements—
—
—
4Net revenues334
341
1,429
1,408
Expenses
Marketing, reservation and loyalty133
130
565
564Operating94
21
168
81General and administrative39
39
125
130Cost reimbursements—
—
—
4Depreciation and amortization16
17
62
71Impairment86
—
86
12Restructuring and other-related2
4
18
15Transaction-related—
—
2
47Separation-related—
—
1
(11)Total expenses370
211
1,027
913
Operating income/(loss)(36)
130
402
495Interest expense, net36
32
139
124Early extinguishment of debt—
—
—
3
Income/(loss) before income taxes(72)
98
263
368Provision/(benefit) for income taxes(12)
13
70
79Net income/(loss)$ (60)
$ 85
$ 193
$ 289
Earnings/(loss) per share
Basic$ (0.80)
$ 1.09
$ 2.51
$ 3.64Diluted(0.80)
1.08
2.50
3.61
Weighted average shares outstanding
Basic75.7
78.0
76.8
79.5Diluted75.7
78.8
77.2
80.1 Table 2WYNDHAM HOTELS & RESORTSHISTORICAL REVENUE AND ADJUSTED EBITDA BY SEGMENT
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Full-YearHotel Franchising
Net revenues
2025$ 316
$ 397
$ 382
$ 334
$ 1,429
2024305
367
396
341
1,408
Adjusted EBITDA
2025$ 161
$ 214
$ 228
$ 178
$ 781
2024158
195
224
189
767
Corporate
Net revenues
2025$ —
$ —
$ —
$ —
$ —
2024—
—
—
—
—
Adjusted EBITDA
2025$ (16)
$ (19)
$ (15)
$ (13)
$ (63)
2024(17)
(17)
(16)
(21)
(73)
Total Company
Net revenues
2025$ 316
$ 397
$ 382
$ 334
$ 1,429
2024305
367
396
341
1,408
Net income/(loss)
2025$ 61
$ 87
$ 105
$ (60)
$ 193
202416
86
102
85
289
Adjusted EBITDA
2025$ 145
$ 195
$ 213
$ 165
$ 718
2024141
178
208
168
694________________NOTE:Amounts may not add across due to rounding. See Table 7 for reconciliations of Total Company non-GAAP measures and Table 9 for definitions. Table 3WYNDHAM HOTELS & RESORTSCONDENSED CASH FLOWS(In millions)(Unaudited)
Year Ended December 31,
2025
2024Operating activities
Net income$ 193
$ 289Depreciation and amortization62
71Impairment86
12Payments related to hostile takeover defense—
(47)Payments of development advance notes, net(105)
(109)Working capital and other, net131
74Net cash provided by operating activities 367
290Investing activities
Property and equipment additions(46)
(49)Loan advances, net(57)
(16)Net cash used in investing activities (103)
(65)Financing activities
Proceeds from long-term debt405
1,835Payments of long-term debt(312)
(1,539)Dividends to shareholders (127)
(122)Repurchases of common stock (266)
(310)Other, net(14)
(39)Net cash used in financing activities (314)
(175)Effect of changes in exchange rates on cash, cash equivalents and restricted cash1
(3)Net (decrease)/increase in cash, cash equivalents and restricted cash(49)
47Cash, cash equivalents and restricted cash, beginning of period113
66Cash, cash equivalents and restricted cash, end of period$ 64
$ 113
Free Cash Flow:
Three Months Ended December 31,
Year Ended December 31,
2025
2024
2025
2024Net cash provided by operating activities$ 152
$ 134
$ 367
$ 290Less: Property and equipment additions(16)
(25)
(46)
(49)Plus: Payments of development advance notes, net32
21
105
109Free cash flow168
130
426
350Plus: Adjusting items (a)—
—
7
45Adjusted free cash flow$ 168
$ 130
$ 433
$ 395________________(a) 2024 includes payments related to the Company's defense of an unsuccessful hostile takeover attempt; 2025 and 2024 include separation-related net tax payments. Table 4
WYNDHAM HOTELS & RESORTS
BALANCE SHEET SUMMARY AND DEBT
(In millions)
(Unaudited)
As ofDecember 31, 2025
As ofDecember 31, 2024
Assets
Cash and cash equivalents
$ 64
$ 103
Trade receivables, net
291
271
Property and equipment, net
104
94
Goodwill and intangible assets, net
3,015
3,073
Other current and non-current assets
708
682
Total assets
$ 4,182
$ 4,223
Liabilities and stockholders' equity
Total debt
$ 2,560
$ 2,463
Other current liabilities
462
423
Deferred income tax liabilities
271
332
Other non-current liabilities
421
355
Total liabilities
3,714
3,573
Total stockholders' equity
468
650
Total liabilities and stockholders' equity
$ 4,182
$ 4,223
Our outstanding debt was as follows:
Weighted Average
Interest Rate (a)
As ofDecember 31, 2025
As ofDecember 31, 2024
$1.0 billion revolving credit facility (due October 2030)5.6 %
$ 224
$ 88
$400 million term loan A (due April 2027)5.9 %
337
364
$1.5 billion term loan B (due May 2030)5.4 %
1,502
1,515
$500 million 4.375% senior unsecured notes (due August 2028)4.4 %
497
496
Total debt 5.3 %
2,560
2,463
Cash and cash equivalents
64
103
Net debt
$ 2,496
$ 2,360
Net debt leverage ratio
3.5x
3.4x
______________(a) Represents weighted average interest rates for the fourth quarter 2025, including the effects from hedging. Our outstanding debt as of December 31, 2025 matures as follows:
AmountWithin 1 year
$ 45Between 1 and 2 years
323Between 2 and 3 years
513Between 3 and 4 years
15Between 4 and 5 years
1,664Thereafter
—Total
$ 2,560 Table 5WYNDHAM HOTELS & RESORTSREVENUE DRIVERS
Year Ended December 31,
2025
2024
Change
% Change
Beginning Room Count (January 1)
United States501,800
497,600
4,200
1 %
International333,900
306,100
27,800
9
Global835,700
803,700
32,000
4
Additions
United States28,700
27,800
900
3
International42,900
35,600
7,300
21
Global71,600
63,400
8,200
13
Deletions
United States(25,400)
(23,600)
(1,800)
(8)
International(13,000)
(7,800)
(5,200)
(67)
Global(38,400)
(31,400)
(7,000)
(22)
Ending Room Count (December 31)
United States505,100
501,800
3,300
1
International363,800
333,900
29,900
9
Global868,900
835,700
33,200
4 %
As of December 31,
FY 2025
Royalty
Contribution
2025
2024
Change
% Change
System Size
United States
Economy221,800
224,800
(3,000)
(1 %)
Midscale and Above283,300
277,000
6,300
2
Total United States505,100
501,800
3,300
1 %
77 %
International
Greater China 133,200
117,000
16,200
14 %
4Rest of Asia Pacific44,200
40,000
4,200
11
2Europe, the Middle East and Africa100,200
93,000
7,200
8
8Canada39,700
39,700
—
—
6Latin America46,500
44,200
2,300
5
3Total International363,800
333,900
29,900
9 %
23
Global868,900
835,700
33,200
4 %
100 %__________________________NOTE:Global, International and Greater China rooms exclude all rooms associated with the Company's Super 8 master licensee in China in both periods. Historical metrics for comparability are included in Table 6. Table 5 (continued)WYNDHAM HOTELS & RESORTSREVENUE DRIVERS
Three Months Ended
December 31, 2025
Constant Currency % Change (b)
Regional RevPAR Growth
United States
Economy$ 34.59
(9 %)
Midscale and Upper Midscale49.24
(6)
Upscale and Above69.18
(22)
Total United States$ 42.91
(8 %)
International
Greater China (a)$ 16.59
(10 %)
Rest of Asia Pacific33.65
(2)
Europe, the Middle East and Africa58.40
7
Canada46.23
1
Latin America51.56
6
Total International (a)$ 36.96
(1 %)
Global (a)$ 40.36
(6 %)
Three Months Ended December 31,
2025
2024
% Change (c)Average Royalty Rate
United States4.7 %
4.8 %
(5 bps)International (a)2.3 %
2.7 %
(40 bps)Global (a)3.8 %
4.1 %
(26 bps)
Year Ended
December 31, 2025
Constant Currency % Change (b)
Regional RevPAR Growth
United States
Economy$ 39.35
(4 %)
Midscale and Upper Midscale55.05
(3)
Upscale and Above81.11
(16)
Total United States$ 48.44
(4 %)
International
Greater China (a)$ 16.81
(9 %)
Rest of Asia Pacific31.56
(3)
Europe, the Middle East and Africa57.11
6
Canada56.75
5
Latin America52.30
11
Total International (a)$ 38.13
— %
Global (a)$ 44.12
(3 %)
Year Ended December 31,
2025
2024
% Change (c)Average Royalty Rate
United States4.8 %
4.7 %
7 bpsInternational (a)2.5 %
2.6 %
(4 bps)Global (a)4.0 %
4.0 %
(2 bps)___________(a) Excludes the impact from all rooms associated with the Company's Super 8 master licensee in China in both periods. Additionally, reflects the impact of the Company's deferral of revenues from Revo, which unfavorably impacted our fourth quarter international and global average royalty rates by 40 bps and 15 bps, respectively, and our full-year international and global average royalty rates by 10 bps and 4 bps, respectively. (b) International and global exclude the impact of currency exchange movements.(c) Amounts may not recalculate due to rounding. Table 6WYNDHAM HOTELS & RESORTSHISTORICAL REVPAR, ROYALTY RATE AND ROOMS
REPORTING BASIS AS OF Q2 2025
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Full-
YearTotal System
Global RevPAR
2025
$ 38.44
$ 47.55
$ 50.05
$ 40.36
$ 44.12
2024
$ 38.48
$ 49.08
$ 52.59
$ 42.58
$ 45.69
U.S. RevPAR
2025
$ 42.37
$ 53.32
$ 55.07
$ 42.91
$ 48.44
2024
$ 41.68
$ 55.44
$ 57.98
$ 46.41
$ 50.37
International RevPAR
2025
$ 32.81
$ 39.45
$ 43.11
$ 36.96
$ 38.13
2024
$ 33.53
$ 39.40
$ 44.52
$ 36.92
$ 38.63
Global Royalty Rate
2025
4.0 %
4.0 %
4.0 %
3.8 %
4.0 %
2024
3.9 %
4.0 %
4.0 %
4.1 %
4.0 %
U.S. Royalty Rate
2025
4.8 %
4.7 %
4.8 %
4.7 %
4.8 %
2024
4.6 %
4.7 %
4.7 %
4.8 %
4.7 %
International Royalty Rate
2025
2.6 %
2.6 %
2.6 %
2.3 %
2.5 %
2024
2.5 %
2.5 %
2.6 %
2.7 %
2.6 %
Global Rooms
2025
839,900
846,700
855,400
868,900
868,900
2024
808,000
816,300
823,200
835,700
835,700
U.S. Rooms
2025
502,600
503,300
503,400
505,100
505,100
2024
499,100
499,400
500,600
501,800
501,800
International Rooms
2025
337,300
343,400
352,000
363,800
363,800
2024
308,900
316,900
322,600
333,900
333,900_________________NOTE:Data excludes the impact from all rooms associated with the Company's Super 8 master licensee in China in all periods. PRE Q2 2025 REPORTING BASIS
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Full-
YearTotal System
Global RevPAR
2025
$ 36.13
n/a
n/a
n/a
n/a
2024
$ 36.28
$ 45.99
$ 49.33
$ 40.01
$ 42.91
International RevPAR
2025
$ 28.73
n/a
n/a
n/a
n/a
2024
$ 29.38
$ 34.11
$ 38.60
$ 32.17
$ 33.59
Global Royalty Rate
2025
4.0 %
n/a
n/a
n/a
n/a
2024
3.8 %
4.0 %
4.0 %
4.0 %
3.9 %
International Royalty Rate
2025
2.6 %
n/a
n/a
n/a
n/a
2024
2.4 %
2.4 %
2.5 %
2.6 %
2.5 %
Global Rooms
2025
907,200
n/a
n/a
n/a
n/a
2024
876,300
884,900
892,600
903,000
903,000
International Rooms
2025
404,600
n/a
n/a
n/a
n/a
2024
377,200
385,500
392,000
401,200
401,200____________NOTE:Data includes the impact from all rooms associated with the Company's Super 8 master licensee in China in all periods. Table 7WYNDHAM HOTELS & RESORTSNON-GAAP RECONCILIATIONS(In millions)
The tables below reconcile certain non-GAAP financial measures. The presentation of these adjustments is intended to permit the comparison of particular adjustments as they appear in the income statement in order to assist investors' understanding of the overall impact of such adjustments. We believe that adjusted EBITDA, adjusted net income and adjusted diluted EPS financial measures provide useful information to investors about us and our financial condition and results of operations because these measures are used by our management team to evaluate our operating performance and make day-to-day operating decisions and adjusted EBITDA is frequently used by securities analysts, investors and other interested parties as a common performance measure to compare results or estimate valuations across companies in our industry. These measures also assist our investors in evaluating our ongoing operating performance for the current reporting period and, where provided, over different reporting periods, by adjusting for certain items which may be recurring or non-recurring and which in our view do not necessarily reflect ongoing performance. We also internally use these measures to assess our operating performance, both absolutely and in comparison to other companies, and in evaluating or making selected compensation decisions. These supplemental disclosures are in addition to GAAP reported measures. These non-GAAP reconciliation tables should not be considered in isolation or as a substitute for, nor superior to, financial results and measures determined or calculated in accordance with GAAP and may not be comparable to similarly-titled measures used by other companies.
Reconciliation of Net Income/(Loss) to Adjusted EBITDA:
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Full-
Year2025
Net income/(loss)$ 61
$ 87
$ 105
$ (60)
$ 193Provision/(benefit) for income taxes18
29
37
(12)
70Depreciation and amortization15
15
15
16
62Interest expense, net33
34
36
36
139Stock-based compensation9
8
8
14
41Development advance notes amortization7
8
8
9
32Impairment (a)—
—
—
86
86Revo-related charges (b)—
—
—
74
74Restructuring and other-related costs (c)—
13
2
2
18Transaction-related (d)1
1
1
—
2Separation-related (e)1
—
—
—
1Foreign currency impact of highly inflationary countries (f)—
—
1
—
—Adjusted EBITDA$ 145
$ 195
$ 213
$ 165
$ 718
2024
Net income$ 16
$ 86
$ 102
$ 85
$ 289Provision for income taxes6
26
35
13
79Depreciation and amortization20
17
17
17
71Interest expense, net28
30
34
32
124Early extinguishment of debt (g)—
3
—
—
3Stock-based compensation10
10
10
11
41Development advance notes amortization5
6
6
6
24Transaction-related (d)41
5
1
—
47Restructuring and other-related costs (c)3
7
2
4
15Impairment (a)12
—
—
—
12Separation-related (e)—
(12)
1
—
(11)Adjusted EBITDA$ 141
$ 178
$ 208
$ 168
$ 694_________________NOTE: Amounts may not add due to rounding.(a) 2025 represents an impairment of development advance notes and intangible assets related to Revo. 2024 primarily represents an impairment of development advance notes as a result of the Company's evaluation of the recoverability of their carrying value.(b) Represents a provision for accounts and loans receivable from Revo, which is reflected in operating expenses on the Consolidated Statements of Income (Loss).(c) 2025 amounts consist primarily of employee-related costs and real estate costs related to a call center closure in connection with a restructuring plan; 2024 amounts consist primarily of employee-related costs in connection with a restructuring plan.(d) Represents costs related to corporate transactions, including the Company's defense of an unsuccessful hostile takeover attempt. 2024 also includes costs related to the Company's repricing and upsizing of its term loan B.(e) Represents costs (income) associated with the Company's spin-off from Wyndham Worldwide.(f) Relates to the foreign currency impact from hyper-inflation, primarily in Argentina, which is reflected in operating expenses on the Consolidated Statements of Income (Loss).(g) Amounts relate to non-cash charges associated with the Company's refinancing of its term loan B. Table 7 (continued)WYNDHAM HOTELS & RESORTSNON-GAAP RECONCILIATIONS(In millions, except per share data)
Reconciliation of Net Income/(Loss) and Diluted Earnings/(Loss) Per Share to Adj. Net Income and Adj. Diluted EPS:
Three Months Ended
December 31,
Year Ended
December 31,
2025
2024
2025
2024Diluted earnings/(loss) per share$ (0.80)
$ 1.08
$ 2.50
$ 3.61
Net income/(loss)$ (60)
$ 85
$ 193
$ 289
Adjustments:
Impairment (a)86
—
86
12Revo-related charges (b)74
—
74
—Acquisition-related amortization expense (c)7
7
27
27Restructuring and other-related costs2
4
18
15Transaction-related—
—
2
47Separation-related—
—
1
(11)Early extinguishment of debt—
—
—
3Total adjustments before tax169
11
208
93Special tax items (d)—
11
—
11Income tax provision (e)38
3
48
24Total adjustments after tax131
(3)
160
58Adjusted net income$ 71
$ 82
$ 353
$ 347Adjustments - EPS impact1.73
(0.04)
2.08
0.72Adjusted diluted EPS$ 0.93
$ 1.04
$ 4.58
$ 4.33
Diluted weighted average shares outstanding76.2
78.8
77.2
80.1_____________(a) 2025 represents an impairment of development advance notes and intangible assets related to Revo. 2024 primarily represents an impairment of development advance notes as a result of the Company's evaluation of the recoverability of their carrying value.(b) Represents a provision for accounts and loans receivable from Revo, which is reflected in operating expenses on the Consolidated Statements of Income (Loss).(c) Reflected in depreciation and amortization on the Consolidated Statements of Income (Loss).(d) Includes a benefit related to tax credits received in Puerto Rico.(e)Reflects the estimated tax effects of the adjustments. Table 8WYNDHAM HOTELS & RESORTS2026 OUTLOOKAs of February 18, 2026(In millions, except per share data)
2026 OutlookFee-related and other revenues$1,455 – 1,485Adjusted EBITDA (a)
730 – 745Depreciation and amortization expense (b)
36 – 38Development advance notes amortization expense
35 – 37Stock-based compensation expense
41 – 43Interest expense, net
139 – 141Adjusted income before income taxes
473 – 492Income tax expense (c)
119 – 124Adjusted net income$354 – 368
Adjusted diluted EPS$4.62 – 4.80
Diluted shares (d)
76.7
Capital expenditures
$40 – 45Development advance notes
Approx. $110
Free cash flow conversion rate
55% - 60%
Year-over-Year Growth
Global RevPAR (e)
(1.5%) - 0.5%Number of rooms (f)
4.0% - 4.5%__________________(a) Includes the effects of the deferral of $12 million of royalties and franchise fees from Revo and the inclusion of $15 million of previously disclosed one-time variable cost reductions made in 2025; excluding which comparable basis growth rates would be 5% - 7%.(b) Excludes amortization of acquisition-related intangible assets of approximately $26 million.(c) Outlook assumes an effective tax rate of approximately 25%.(d) Excludes the impact of any share repurchases after December 31, 2025.(e) Represents constant currency basis; on a reported basis, which includes foreign currency impacts, would be (1.5%) - 0.5%. (f) Excludes any potential room termination impact associated with Revo's ongoing insolvency. To assist with modeling, each 1% change in RevPAR equates to an approximate $10 million impact to fee-related and other revenues and $4 million to adjusted EBITDA. If a significant pullback in demand were to materialize beyond the Company's current assumptions, actual results could fall below these estimates.In determining adjusted EBITDA, interest expense, net, adjusted income before income taxes, adjusted net income, adjusted diluted EPS and free cash flow conversion rate, we exclude certain items which are otherwise included in determining the comparable GAAP financial measures. We are providing these measures on a non-GAAP basis only because, without unreasonable efforts, we are unable to predict with reasonable certainty the occurrence or amount of all 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.Table 9
WYNDHAM HOTELS & RESORTS
DEFINITIONSAdjusted Net Income and Adjusted Diluted EPS: Represents net income (loss) and diluted earnings (loss) per share excluding acquisition-related amortization, impairment and other-related charges (including Revo-related charges), significant accelerated depreciation, restructuring and other-related charges, contract termination costs, separation-related items, transaction-related items (acquisition-, disposition-, or debt-related), (gain)/loss on asset sales, foreign currency impacts of highly inflationary countries and special tax items. The Company calculates the income tax effect of the adjustments using an estimated effective tax rate applicable to each adjustment.Adjusted EBITDA: Represents net income (loss) excluding net interest expense, depreciation and amortization, early extinguishment of debt charges, impairment and other-related charges (including Revo-related charges), restructuring and other-related charges, contract termination costs, separation-related items, transaction-related items (acquisition-, disposition-, or debt-related), (gain)/loss on asset sales, foreign currency impacts of highly inflationary countries, stock-based compensation expense, income taxes and development advance notes amortization. Adjusted EBITDA is a financial measure that is not recognized under U.S. GAAP and should not be considered as an alternative to net income (loss) or other measures of financial performance or liquidity derived in accordance with U.S. GAAP. In addition, the Company's definition of adjusted EBITDA may not be comparable to similarly titled measures of other companies.Adjusted Free Cash Flow: Represents free cash flow excluding payments related to the Company's defense of an unsuccessful hostile takeover attempt and separation-related items.Ancillary Revenues: Represents the summation of the license and other fees line item and other revenues line item per the income (loss) statement.Average Daily Rate (ADR): Represents the average rate charged for renting a Room for one day.Average Occupancy Rate: Represents the percentage of available Rooms occupied during the period.Comparable Basis: Represents a comparison eliminating Marketing Fund Variability.Constant Currency: Represents a comparison eliminating the effects of foreign exchange rate fluctuations between periods (foreign currency translation) and the impact caused by any foreign exchange related activities (i.e., hedges, balance sheet remeasurements and/or adjustments).FeePAR: Represents annual royalties per franchised Room and is calculated by dividing total annual royalty revenue of the Company's franchised hotels by the number of franchised Rooms in its system size.Free Cash Flow: Reflects net cash provided by operating activities excluding development advances, less capital expenditures. The Company believes free cash flow to be a useful operating performance measure to it and investors. This measure helps the Company and investors evaluate its ability to generate cash beyond what is needed to fund capital expenditures, debt service and other obligations. Notwithstanding cash on hand and incremental borrowing capacity, free cash flow reflects the Company's ability to grow its business through investments and acquisitions, as well as its ability to return cash to shareholders through dividends and share repurchases or even to delever. Free cash flow is not a representation of how the Company will use excess cash. A limitation of using free cash flow versus the GAAP measure of net cash provided by operating activities as a means for evaluating Wyndham Hotels is that free cash flow does not represent the total cash movement for the period as detailed in the condensed consolidated statement of cash flows.Free Cash Flow Conversion Rate: Represents the percentage of adjusted EBITDA that is converted to free cash flow and provides insights into how efficiently the Company is able to turn profits into cash available for use, such as for investments (including development advance notes), debt reduction, dividends or share repurchases.Marketing Fund Variability: Relates to the quarterly timing variances from the Company's marketing funds. The Company's franchise agreements require the payment of marketing and reservation fees, and in accordance with these franchise agreements, the Company is generally contractually obligated to expend such fees for the benefit of each of its brands over time. Marketing and reservation fees earned are generally highest during the summer season when the franchised hotels have the highest occupancy and daily rates, while marketing and reservation expenses are generally highest during the first half of the year in an effort to drive higher occupancy in the summer months. Accordingly, the seasonality of the marketing and reservation revenues and expenses results in adjusted EBITDA variability during the quarters throughout the year but are designed such that on a full-year basis, the Company's marketing funds break even.Net Debt Leverage Ratio: Calculated by dividing total debt less cash and cash equivalents by trailing twelve months adjusted EBITDA.RevPAR: Represents revenue per available franchised or managed Room and is calculated by multiplying average occupancy rate by ADR.Rooms: Represents the number of rooms at the end of the period which are (i) either under franchise and/or management agreements, excluding all rooms associated with the Company's Super 8 master licensee in China, and (ii) properties under affiliation agreements for which the Company receives a fee for reservation and/or other services provided.Royalty Rate: Represents the average royalty rate earned on the Company's franchised Rooms and is calculated by dividing total royalties, excluding the impact of amortization of development advance notes, by total room revenues.
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Original: WYNDHAM HOTELS & RESORTS REPORTS FOURTH QUARTER RESULTS