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) 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.
Wyndham Hotels & Resorts (NYSE: WH) will report its second quarter 2020 results on July 28, 2020, at 5:00 p.m. ET. Executives Geoffrey A. Ballotti and Michele Allen will hold an investor call on July 29, 2020, at 8:30 a.m. ET to discuss the results and company outlook. Wyndham is the world's largest hotel franchising company, operating over 9,300 hotels across approximately 90 countries. Its Wyndham Rewards program has about 83 million enrolled members, enhancing its market presence.
Wyndham Hotels & Resorts, the largest hotel franchising company, is expanding its La Quinta® by Wyndham brand with two new hotels in Turkey: La Quinta by Wyndham Giresun (86 rooms) and La Quinta by Wyndham Bodrum (175 rooms). Giresun's hotel features waterfront views and amenities including an outdoor pool and fitness center. Bodrum's hotel will host two restaurants and a rooftop bar, opening later this month. These additions follow the 404-room La Quinta hotel opened in Istanbul, marking significant international growth since the brand's acquisition in 2018.
Wyndham Rewards has announced a reduction in the requirements for earning Member Levels, decreasing the needed nights by 40% in 2020. This initiative, motivated by the COVID-19 pandemic, follows earlier measures like extending the expiration of earned statuses and pausing points expiration until September 30, 2020. Members can earn 2,000 bonus points for each qualified stay through July 27, 2020. Wyndham Rewards aims to enhance travel engagement while ensuring safety protocols through its Count On Us initiative, emphasizing flexibility and support for its members during the pandemic.
Wyndham Hotels & Resorts announced the expansion of its Ramada® by Wyndham brand in Spain with two new hotels: Ramada by Wyndham Madrid Tres Cantos and Ramada by Wyndham Valencia Almussafes. The Valencia location will open on July 1, 2020, featuring 133 rooms and amenities for business and leisure travelers. Madrid Tres Cantos, scheduled for September 2020, will include 61 rooms in a corporate area. The expansion follows the brand's entry into Spain in 2019, aiming to broaden its European portfolio and meet growing traveler demand.
Wyndham Hotels & Resorts is expanding its footprint in Japan by converting two hotels to its Wyndham Grand and Wyndham Garden brands: the 60-suite Wyndham Grand Awashima and 95-suite Wyndham Garden Nagaizumi. These openings, marking the brand debut in Japan, enhance Wyndham's portfolio in the region, which includes over 1,700 hotels across Asia Pacific. The hotels offer unique features such as onsen facilities and proximity to natural attractions, aimed at catering to a growing demand for distinctive travel experiences.
Wyndham Hotels & Resorts announced plans for growth in China, opening five new hotels under the Ramada brand this quarter. Three hotels are already operational: Ramada by Wyndham Luoyang Downtown with 142 rooms, Ramada by Wyndham Jianyang offering 191 rooms, and Ramada by Wyndham Changsha Wuguang with 140 rooms. Two more are set to open this month: Ramada by Wyndham Wuhan Qingshan (101 rooms) and Ramada by Wyndham Kunming Yiliang (179 rooms). This expansion comes as travel in China shows signs of recovery, reinforcing Wyndham's position as the largest international hotel franchisor in the country.