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 Rewards has been named the best hotel loyalty program for the third consecutive year by USA Today 10Best Readers' Choice Awards. Its co-branded Wyndham Rewards® Visa® Card also received the top honor as the best travel and hotel credit card. The program boasts over 84 million members, who significantly contribute to the company's revenue. New credit cards recently launched enhance point earning for everyday and travel purchases. The loyalty program offers guaranteed points per stay and flexible rewards, fostering member engagement amidst evolving travel demands post-COVID-19.
Wyndham Hotels & Resorts (NYSE: WH) will report its third quarter 2020 results on October 28, 2020, at 5:00 p.m. ET. The earnings call for investors, led by CEO Geoffrey A. Ballotti and CFO Michele Allen, will occur on October 29, 2020, at 8:30 a.m. ET. Listeners can access the live webcast via the company's investor relations website. Wyndham is the largest hotel franchising company globally, with over 9,000 hotels across approximately 90 countries and a significant presence in the economy and midscale segments.
Wyndham Hotels & Resorts and Barclays launched three credit cards tailored for road travelers: the Wyndham Rewards® Earner Card, the Earner Plus Card, and the Earner Business Card. These cards offer substantial rewards, including up to 8x points for gas and hotel purchases. The Earner Card has no annual fee and provides 30,000 bonus points; the Plus Card offers a $75 fee with 45,000 bonus points; and the Business Card has a $95 fee with similar bonuses. These offerings cater to the increasing number of travelers opting for road trips during the pandemic, aiming for cost-effective rewards and convenience.
Wyndham Hotels & Resorts announced the launch of its new mobile app, now available on iOS and Android. The app prioritizes low-contact features like mobile check-in/check-out at nearly 6,000 hotels in the U.S., addressing the demands of travelers during the pandemic. Key features include Lightning Book, Digital Room Key, and personalized offers, enhancing user experience and simplifying hotel bookings.
Wyndham Hotels & Resorts (NYSE: WH) announced a quarterly cash dividend of $0.08 per share, payable on September 30, 2020. Shareholders on record as of September 15, 2020 will receive this dividend. Wyndham is a leading hotel franchising company with over 9,000 hotels worldwide, serving 84 million loyal members in its Wyndham Rewards program. The company remains focused on its market presence amidst ongoing challenges in the hospitality sector due to the COVID-19 pandemic.
Wyndham Rewards® proudly sponsors the 81st annual Wyndham Championship at Sedgefield Country Club in Greensboro, N.C., starting August 11, 2020. Due to the COVID-19 pandemic, the tournament will be conducted without spectators, maintaining its charitable commitments through the Wyndham Championship Fore! Good initiative. Fans can enjoy virtual engagement and vacation-themed experiences. Wyndham Rewards, named the top hotel rewards program, offers over 30,000 properties worldwide, and has implemented robust health protocols to ensure safety. The tournament culminates in the Wyndham Rewards Top 10, awarding $10 million in bonuses.
Wyndham Hotels & Resorts (NYSE: WH) has priced its offering of $500 million of 4.375% Senior Notes due 2028, increasing the offering size by $150 million. The offering will close on August 13, 2020, pending customary conditions. Proceeds will be used to repay existing borrowings under a revolving credit facility. Additionally, the company amended its credit agreement to eliminate the 0.50% LIBOR floor, resetting it to 0.00% at the end of the relief period. The Notes will be offered only to qualified institutional buyers.
Wyndham Hotels & Resorts has expanded its Wyndham Direct program, initially exclusive to La Quinta hotels, to include Super 8 and Days Inn hotels in the U.S. The program streamlines corporate travel bookings using virtual credit card technology, simplifying management for businesses and increasing revenue for hotels. With access to nearly 3,900 properties, the initiative aims to attract small and medium-sized corporate bookings. Wyndham plans to further extend this program across its portfolio, enhancing value for franchisees and growing market share amid rising travel demand.
Wyndham Hotels & Resorts (NYSE: WH) reported a net loss of $174 million for Q2 2020, with a diluted loss per share of $1.86, impacted significantly by COVID-19. Adjusted EBITDA stood at $63 million despite a 54% decline in global comparable RevPAR. Revenues fell to $258 million from $533 million year-over-year. However, approximately 85% of hotels remained open, and the company paid a quarterly cash dividend of $0.08 per share. The outlook remains cautious due to uncertainty in travel demand.
Wyndham Hotels & Resorts announced the opening of the first Microtel® by Wyndham featuring the innovative Moda prototype in George, Washington. This 63-room hotel emphasizes smart design and efficiency, offering substantial savings to developers. The Moda prototype reduces the total footprint by nearly 30% and provides over 70% of rentable space. It aims to attract developers due to lower construction costs and enhanced guest experience. The company plans further expansion of the Microtel brand across the U.S., with additional openings in Hot Springs, Arkansas, and other key locations.