WYNDHAM HOTELS & RESORTS ANNOUNCES LAUNCH OF SENIOR NOTES OFFERING

Rhea-AI Summary

Wyndham Hotels & Resorts (NYSE: WH) announced an intended offering of $650 million aggregate principal amount of Senior Notes due 2033. The company intends to use net proceeds to repay all outstanding borrowings under its term loan A and its revolving credit facility, pay fees and for general corporate purposes.

The Notes will be guaranteed by certain domestic restricted subsidiaries and will be sold only to qualified institutional buyers under Rule 144A and to non-U.S. persons offshore under Regulation S; the securities will not be registered under the Securities Act.

Positive

• $650 million senior notes due 2033
• Proceeds earmarked to repay term loan A and revolving credit facility
• Notes guaranteed by certain domestic restricted subsidiaries

Negative

• Notes not registered under the Securities Act; limited to Rule 144A/Reg S investors
• Offering creates additional long-term senior debt maturing in 2033

Key Figures

Senior Notes offering: $650 million Maturity year: 2033 Hotel count: over 8,300 hotels +4 more

7 metrics

Senior Notes offering $650 million Aggregate principal amount of Senior Notes due 2033

Maturity year 2033 Stated maturity of the new Senior Notes

Hotel count over 8,300 hotels Global franchised properties footprint

Countries approximately 100 countries Geographic reach across six continents

Room count approximately 869,000 rooms Franchised and affiliated rooms network

Hotel brands 25 brands Number of hotel brands in the portfolio

Loyalty members over 122 million Enrolled Wyndham Rewards members globally

Market Reality Check

Price: $84.37 Vol: Volume 1,897,087 vs 20-da...

normal vol

$84.37 Last Close

Volume Volume 1,897,087 vs 20-day average 1,717,074 (relative volume 1.1x) shows slightly elevated trading ahead of the notes offering. normal

Technical Shares at $83.10 are trading above the 200-day MA of $80.76, despite being 26.51% below the 52-week high.

Peers on Argus

WH was down 1.39% while peers showed mixed moves: CHH -2.2%, ATAT -1.13%, H -6.1...

1 Down

WH was down 1.39% while peers showed mixed moves: CHH -2.2%, ATAT -1.13%, H -6.13%, and HTHT up 0.67%. Momentum scanner only flagged IHG at -1.83%, suggesting this debt offering was more company-specific than a broad lodgings sector move.

Historical Context

5 past events · Latest: Feb 18 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 18	Earnings results	Positive	-0.1%	Reported FY 2025 results, raised dividend and highlighted room growth.
Feb 18	Peer earnings	Neutral	-0.1%	Travel + Leisure’s Q4 and full-year results with 2026 outlook release.
Jan 26	AI trends report	Positive	-1.1%	Owner Trends Report showing broad AI adoption and growth optimism.
Jan 22	Earnings date set	Neutral	-1.1%	Announcement of dates for Q4 and full-year 2025 earnings release and call.
Jan 22	Portfolio expansion	Positive	-1.7%	Multi-hotel affiliation with Choctaw Casinos & Resorts, adding ~2,000 rooms.

Pattern Detected

Recent positive corporate updates for WH often coincided with flat-to-negative next-day moves, indicating a tendency toward cautious or selling reactions around news.

Recent Company History

Over the past months, Wyndham reported full-year 2025 results with adjusted EBITDA of $718 million and adjusted EPS of $4.58, while GAAP net income fell to $193 million. It also highlighted AI adoption trends among hotel owners and expanded its upscale footprint via a multi-hotel affiliation with Choctaw Casinos & Resorts. Several of these generally constructive announcements were followed by modest share declines, so the debt offering arrives after a stretch of news that did not generate strong positive price responses.

Market Pulse Summary

This announcement details a $650 million Senior Notes offering due 2033, with proceeds intended to r...

Analysis

This announcement details a $650 million Senior Notes offering due 2033, with proceeds intended to repay term loan A and revolving credit facility borrowings and for general corporate purposes. It follows recent earnings and growth updates, including a global base of over 8,300 hotels and 869,000 rooms. Investors may monitor how this debt issuance affects overall leverage, interest costs, and future capital allocation alongside any subsequent refinancing or rating actions.

Key Terms

senior notes, term loan a, revolving credit facility, rule 144a, +2 more

6 terms

senior notes financial

"it intends to offer $650 million aggregate principal amount of Senior Notes due 2033"

Senior notes are a type of loan that a company borrows from investors, promising to pay it back with interest. They are called "senior" because in case the company faces financial trouble, these lenders are paid back before others. This makes senior notes safer for investors compared to other types of loans or bonds.

term loan a financial

"to repay all of the outstanding borrowings under its term loan A and under its revolving"

Term Loan A is a portion of a company’s syndicated bank loan that is paid down with regular principal installments over a set period, usually carries lower interest and a shorter maturity than other loan tranches. It matters to investors because its scheduled repayments and interest cost affect a company’s cash flow and borrowing needs; heavy near‑term payments can reduce cash available for dividends, investment or increase refinancing risk, much like a mortgage with larger monthly payments limits household flexibility.

revolving credit facility financial

"outstanding borrowings under its term loan A and under its revolving credit facility"

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

rule 144a regulatory

"in reliance on the exemption from registration provided by Rule 144A under the Securities Act"

Rule 144A is a regulation that makes it easier for companies to sell private bonds to large investors without going through all the usual rules that apply to public sales. It matters because it helps companies raise money more quickly and privately, often attracting big investors looking for special deals.

regulation s regulatory

"in offshore transactions in accordance with Regulation S under the Securities Act"

Regulation S is a set of rules that allows companies to sell securities (like shares or bonds) to investors outside the United States without having to follow all U.S. securities laws. It matters because it makes it easier for companies to raise money from international investors while still complying with U.S. regulations.

qualified institutional buyers financial

"only to persons reasonably believed to be "qualified institutional buyers" in reliance on"

Qualified institutional buyers are large organizations, like big investment firms or banks, that are allowed to buy certain types of investment opportunities not available to everyday investors. Their size and experience matter because it ensures they understand and can handle complex financial deals, making markets more efficient and secure.

AI-generated analysis. Not financial advice.

PARSIPPANY, N.J., Feb. 24, 2026 /PRNewswire/ -- Wyndham Hotels & Resorts, Inc. (NYSE: WH) (the "Company") announced today that it intends to offer $650 million aggregate principal amount of Senior Notes due 2033 (the "Notes"). The Company intends to use the net proceeds of the offering to repay all of the outstanding borrowings under its term loan A and under its revolving credit facility, to pay related fees and expenses and for general corporate purposes. The Notes will be guaranteed by certain of the Company's domestic restricted subsidiaries that guarantee its outstanding credit facilities and its existing notes.

The Notes and the related guarantees have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), any state securities laws or the securities laws of any other jurisdiction. The Notes and the related guarantees may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Notes and the related guarantees will be offered, by the initial purchasers, only to persons reasonably believed to be "qualified institutional buyers" in reliance on the exemption from registration provided by Rule 144A under the Securities Act and to certain non-U.S. persons in offshore transactions in accordance with Regulation S under the Securities Act.  

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the Notes or the related guarantees or any other securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world's largest hotel franchising company by the number of franchised properties, with over 8,300 hotels across approximately 100 countries on six continents.  Through its network of approximately 869,000 franchised and affiliated rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry.  The Company operates a portfolio of 25 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, ECHO Suites®, Registry Collection Hotels®, Trademark Collection® and Wyndham®.  The Company's award-winning Wyndham Rewards loyalty program offers over 122 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. 

Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the federal securities laws, including statements related to the Notes offering and the use of proceeds therefrom.  Forward-looking statements are any statements other than statements of historical fact, including those that convey management's expectations as to the future based on plans, estimates and projections at the time Wyndham makes the statements and may be identified by words such as "will," "expect," "believe," "plan," "anticipate," "predict," "intend," "goal," "future," "forward," "remain," "confident," "outlook," "guidance," "target," "objective," "estimate," "projection" and similar words or expressions, including the negative version of such words and expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Wyndham to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, general economic conditions, including inflation, higher interest rates and potential recessionary pressures, which may impact decisions by consumers and businesses to use travel accommodations; global trade disputes, including with China; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising business; Wyndham's relationships with franchisees; the ability of franchisees to pay back loans owed to Wyndham; the impact of prior or any future impairment charges related to the credit Wyndham extends to its franchisees; the impact of war, terrorist activity, political instability or political strife; global or regional health crises or pandemics including the resulting impact on Wyndham's business, operations, financial results, cash flows and liquidity, as well as the impact on its franchisees, guests and team members, the hospitality industry and overall demand for and possible restrictions on travel; Wyndham's ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to Wyndham's ability to obtain financing and the terms of such financing, including access to liquidity and capital; and Wyndham's ability to make or pay, plans for and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in Wyndham's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. These risks and uncertainties are not the only ones Wyndham may face and additional risks may arise or become material in the future. Wyndham undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.

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SOURCE Wyndham Hotels & Resorts

FAQ

What did Wyndham (NYSE: WH) announce about the $650 million senior notes due 2033?

Wyndham announced an intended offering of $650 million senior notes due 2033. According to the company, net proceeds will repay term loan A and the revolving credit facility and cover related fees and general corporate purposes.

How will Wyndham (WH) use proceeds from the 2033 senior notes offering?

The company intends to use net proceeds to repay all outstanding borrowings under term loan A and its revolving credit facility. According to the company, remaining proceeds will cover related fees and general corporate purposes.

Who will guarantee the Wyndham (WH) senior notes due 2033?

Certain domestic restricted subsidiaries will guarantee the Notes. According to the company, guarantees mirror those on its outstanding credit facilities and existing notes.

Can U.S. retail investors buy Wyndham (WH) senior notes offered in 2026?

No; the Notes are not registered and may not be offered to the general public in the United States. According to the company, sales will be to qualified institutional buyers under Rule 144A or offshore under Regulation S.

What securities-law limitations apply to Wyndham's (WH) 2033 notes offering?

The Notes and guarantees have not been registered under the Securities Act and state laws. According to the company, offerings rely on exemptions under Rule 144A and Regulation S, limiting eligible purchasers.

Does Wyndham (WH) plan to register the senior notes under the Securities Act?

No registration is planned for the Notes at announcement time. According to the company, the Notes and related guarantees will not be registered and will be offered only under exemptions.