WYNDHAM HOTELS & RESORTS ANNOUNCES PRICING OF SENIOR NOTES OFFERING

Rhea-AI Summary

Wyndham Hotels & Resorts (NYSE: WH) priced an offering of $650 million aggregate principal amount of 5.625% Senior Notes due 2033, expected to close on February 27, 2026, subject to customary conditions.

The company intends to use net proceeds to repay outstanding borrowings under its term loan A and revolving credit facility, pay related fees and expenses, and for general corporate purposes. The Notes will be guaranteed by certain domestic restricted subsidiaries and offered to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S.

Positive

• $650M debt raised to refinance existing term loan and revolver
• Notes carry a fixed 5.625% coupon to 2033
• Guarantees by domestic subsidiaries preserve existing guarantee structure

Negative

• Issuance increases long-term debt outstanding and fixed interest obligations
• Use of proceeds excludes equity dilution but reduces borrowing flexibility until closed

Key Figures

Senior notes size: $650 million Coupon rate: 5.625% Maturity year: 2033 +5 more

8 metrics

Senior notes size $650 million Aggregate principal amount of 5.625% Senior Notes due 2033

Coupon rate 5.625% Interest rate on Senior Notes due 2033

Maturity year 2033 Maturity of newly priced Senior Notes

Expected closing date February 27, 2026 Expected closing of senior notes offering

Hotel count over 8,300 hotels Global franchised and affiliated properties

Countries approximately 100 countries Geographic footprint of Wyndham Hotels & Resorts

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

Loyalty members over 122 million Enrolled members in Wyndham Rewards program

Market Reality Check

Price: $83.10 Vol: Volume 1,517,506 is at 0....

normal vol

$83.10 Last Close

Volume Volume 1,517,506 is at 0.88x the 20-day average of 1,717,074, indicating subdued trading. normal

Technical Shares at $84.37 are trading above the 200-day MA of $80.76 and about 25% below the 52-week high of $113.07.

Peers on Argus

While WH fell 1.39%, key lodging peers like H (+2.44%), CHH (+1.69%) and others ...

While WH fell 1.39%, key lodging peers like H (+2.44%), CHH (+1.69%) and others traded higher, pointing to a stock-specific move rather than a sector-wide shift.

Historical Context

5 past events · Latest: Feb 18 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 18	Earnings results	Neutral	-0.1%	Reported 2025 results with dividend increase and mixed GAAP versus adjusted metrics.
Feb 18	Peer earnings	Neutral	-0.1%	Travel + Leisure reported Q4 and 2025 figures with new buyback and dividend plans.
Jan 26	AI trends report	Positive	-1.1%	Released Owner Trends Report showing high AI adoption and strong growth sentiment.
Jan 22	Earnings date set	Neutral	-1.1%	Announced timing for Q4 and full-year 2025 earnings release and conference call.
Jan 22	Portfolio expansion	Positive	-1.7%	Expanded upscale footprint via multi-hotel affiliation with Choctaw Casinos & Resorts.

Pattern Detected

Recent positive or strategic announcements have often been followed by flat-to-negative next-day moves, suggesting a tendency for muted or contrary price reactions around news.

Recent Company History

This announcement follows a series of operational and strategic updates. On Feb 18, 2026, Wyndham reported full-year 2025 results with modest adjusted EBITDA and EPS growth but lower GAAP net income, and slightly negative price reaction. Prior news in January 2026 highlighted AI adoption trends and an upscale expansion with Choctaw Casinos & Resorts, both followed by share price declines despite constructive narratives. The new senior notes pricing fits into an ongoing pattern of capital allocation and balance sheet management alongside steady development pipeline growth.

Market Pulse Summary

This announcement details Wyndham’s plan to issue $650 million of 5.625% Senior Notes due 2033, with...

Analysis

This announcement details Wyndham’s plan to issue $650 million of 5.625% Senior Notes due 2033, with proceeds intended to repay term loan A and revolving credit facility borrowings and for general corporate purposes. It highlights the company’s large global platform of over 8,300 hotels and a loyalty base exceeding 122 million members. Investors may monitor future filings and updates for changes in leverage, interest costs, and how this refinancing supports ongoing development and franchising growth.

Key Terms

senior notes, qualified institutional buyers, rule 144a, regulation s

4 terms

senior notes financial

"announced today the pricing of its offering of $650 million aggregate principal amount of 5.625% 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.

qualified institutional buyers financial

"offered, by the initial purchasers, only to persons reasonably believed to be "qualified institutional buyers" in reliance"

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.

rule 144a regulatory

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

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

"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."

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.

AI-generated analysis. Not financial advice.

PARSIPPANY, N.J., Feb. 24, 2026 /PRNewswire/ -- Wyndham Hotels & Resorts, Inc. (NYSE: WH) (the "Company") announced today the pricing of its offering of $650 million aggregate principal amount of 5.625% Senior Notes due 2033 (the "Notes"). The offering is expected to close on February 27, 2026, subject to customary closing and market conditions, and 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 on February 24, 2026?

Wyndham priced $650 million of 5.625% senior notes due 2033, expected to close February 27, 2026. According to the company, net proceeds will repay term loan A and the revolving credit facility, cover fees and expenses, and support general corporate purposes.

How will the WH 5.625% notes due 2033 affect Wyndham's debt structure and interest costs?

The new notes replace existing borrowings, converting short-term bank debt into long-term fixed-rate debt. According to the company, proceeds will repay the term loan A and revolver, increasing fixed interest obligations but extending debt maturities to 2033.

Who can buy Wyndham (WH) senior notes and when will the offering close?

The notes are offered only to qualified institutional buyers under Rule 144A and to certain non-U.S. persons under Regulation S. According to the company, the offering is expected to close on February 27, 2026, subject to customary conditions.

Will Wyndham (WH) register the 5.625% senior notes under the Securities Act?

No, the notes and guarantees have not been registered under the Securities Act or state laws. According to the company, sales are limited to exemptions under Rule 144A and Regulation S and are not a public registered offering.

What are the guarantees and who backs the Wyndham (WH) senior notes due 2033?

The notes will be guaranteed by certain domestic restricted subsidiaries that already guarantee existing credit facilities and notes. According to the company, this maintains the current guarantee framework supporting the company's credit obligations.