Wyndham Hotels & Resorts Reports Strong First Quarter Results
- EDITOR
- 1 hour ago
- 3 min read
Geoff Ballotti, president and chief executive officer: “We delivered a strong start to the year, highlighted by record-level first-quarter openings and a continued expansion of our development pipeline. 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.”... Read more here - Hotel Management Global Outlook Link
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.
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
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.
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.... Read more here - Hotel Management Global Outlook Link
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