Wyndham Hotels & Resorts Reports Full Year Results With Record Openings, Retention and System Growth
- EDITOR
- Feb 21, 2024
- 1 min read
Geoff Ballotti, president and chief executive officer: “We are tremendously proud to report fourth quarter results that demonstrate the continued success of our global strategy and our accelerating momentum. Despite the distraction, uncertainty and misperceptions caused by Choice and their slanted and constant communications to our franchisee base, room openings accelerated and our global development pipeline grew by 10% to an all-time high of 240,000 rooms. Our team opened 27% more rooms than last year in the fourth quarter and we welcomed 500 new hotels to our system in 2023. This, when combined with our improving franchisee engagement and record retention rate, drove the best organic system growth we’ve ever achieved. We grew comparable adjusted EBITDA by 6% and returned over half a billion dollars to our shareholders through dividends and share repurchases. We are confident in the continued effectiveness of our growth strategy and see exceptional value-creation opportunities in the years ahead.”
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