Welcome to our dedicated page for Wyndham Hotels & Resorts news (Ticker: WH), a resource for investors and traders seeking the latest updates and insights on Wyndham Hotels & Resorts stock.
Wyndham Hotels & Resorts reports developments in hotel franchising, brand expansion, loyalty, booking technology, and operating performance. Company news commonly covers its economy and midscale hotel system, Wyndham Rewards, RevPAR trends, development pipeline activity, and growth initiatives across brands such as Dolce by Wyndham and ECHO Suites Extended Stay by Wyndham.
Updates also include franchisee-focused technology, including AI-enabled discovery and booking tools, as well as property openings, partnerships that extend loyalty redemption options, and financial results tied to system size, pipeline composition, leverage, and comparable operating performance.
Wyndham Hotels & Resorts (NYSE: WH) declared a quarterly cash dividend of $0.32 per share, payable on December 28, 2022, to shareholders recorded by December 14, 2022. The company operates approximately 9,100 hotels across over 95 countries and is the largest hotel franchising firm globally. Its Wyndham Rewards loyalty program boasts over 97 million members. This dividend declaration reflects the company's commitment to returning value to shareholders as it navigates the recovery phase from the impacts of COVID-19.
Wyndham Hotels & Resorts (WH) has reported strong third-quarter results for 2022, raising its full-year outlook. Global RevPAR increased by 12% year-over-year, with U.S. RevPAR at 110% of 2019 levels. The company grew system-wide rooms by 4% and expanded its development pipeline by 10% to 212,000 rooms. Adjusted EBITDA reached $191 million, reflecting a 4% increase. Despite a decline in hotel management revenues, net income was $101 million. The board authorized an additional $400 million for share repurchases, showing confidence in future growth and shareholder returns.
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Wyndham Hotels & Resorts has been recognized as a top employer, receiving notable accolades including the Top 100 Most Loved Workplaces by Newsweek and World's Best Employers by Forbes. The company emphasizes inclusivity and flexibility, offering comprehensive benefits and professional development opportunities to its employees. This recognition marks the second consecutive year on Newsweek's list and the third year as one of New Jersey's Best Places to Work. Wyndham operates approximately 9,000 hotels globally and offers a popular Wyndham Rewards loyalty program with over 95 million members.
Wyndham Hotels & Resorts has announced the promotions of Shilpan Patel to executive vice president of North America Franchise Operations and Gustavo Viescas to president of the LATAMC region. With nearly 45 years of combined experience, both executives will focus on enhancing franchise operations and driving success for hotel owners. Shilpan will manage various operational aspects across North America, while Gustavo will oversee approximately 250 hotels in Latin America, aiming to grow the region further. This reflects Wyndham's commitment to leveraging internal talent.
Wyndham Hotels & Resorts announced the global expansion of The Meetings Collection, now featuring over 160 hotels across the Americas, Asia, Europe, the Middle East, and Africa. This initiative aims to support planners in organizing multi-meeting events, offering benefits like multi-meeting discounts of up to 5% off total value, enhanced flexibility with 30% attrition, and double Wyndham Rewards points. The expansion is timely, coinciding with the recovery of group travel and enhanced meeting opportunities in sought-after destinations.
Wyndham Hotels & Resorts (NYSE: WH) will report its third quarter 2022 earnings on October 25, 2022, at approximately 4:30 p.m. ET. CEO Geoffrey A. Ballotti and CFO Michele Allen will host a conference call on October 26, 2022, at 8:30 a.m. ET to discuss the company's results and outlook. Investors can listen live via the company's website. Wyndham is the largest hotel franchising company, with about 9,000 hotels globally. The company operates 23 brands and has a loyalty program with over 95 million members.
Wyndham Hotels & Resorts has expanded its Wyndham Alltra brand by opening the Wyndham Alltra Riviera Nayarit in Nuevo Vallarta, Mexico. This addition follows the brand's previous launches in Cancun and Playa del Carmen, targeting the growing all-inclusive resort market. The new resort features 229 rooms with family-friendly amenities, including pools, dining options, and activities. A special opening rate starts at $179 per person per night for stays through December 2023. Wyndham aims to provide accessible all-inclusive travel experiences, enhancing partnerships with Playa Hotels & Resorts.
Wyndham Hotels & Resorts has announced that its new extended-stay brand, known as 'Project ECHO,' has surpassed its year-end goal by signing 100 hotels across the United States. This rapid growth, attributed to an efficient design that lowers operational costs, positions Project ECHO as Wyndham's fastest growing brand. Recent signings include 25 hotels in the Midwest by Holladay Properties and 10 hotels in South Florida and New Jersey by Gold Coast Premier Properties. The first Project ECHO hotel is set to open in 2023.
Wyndham Hotels & Resorts has launched a mobile tipping solution, in partnership with Béné, for its U.S. and Canadian franchisees, marking it as one of the first major hotel chains to adopt such technology. This digital platform allows guests to tip hotel staff conveniently via QR codes, enhancing the guest experience and encouraging digital payments. The initiative aligns with growing consumer preferences for cashless transactions, as 82% of Americans now opt for digital payments. The system is designed for easy implementation at virtually no cost to franchisees.