- Wyndham recorded a 1pc year-over-year RevPAR decline in Q2.
- Domestic RevPAR grew 2pc compared to a 6pc drop outside the US.
- Wyndham removed 27,200 rooms and added 31,700 rooms in the first half.
- Adjusted EBITDA was up 9pc to $212m, with net income up 17pc.
- The company revised its full-year RevPAR outlook to flat to 1pc growth.
Wyndham Hotels & Resorts has reported a 1pc year-over-year decline in revenue per available room in the second quarter. President and CEO Geoff Ballotti stated confidence in the health of the US consumer, adding that tax policy has boosted discretionary spending. The company estimates that about 10pc of the $60bn of tax refunds will be spent on travel.
Wyndham’s system-wide rooms grew 4pc year-over-year, with domestic RevPAR growing 2pc compared to a 6pc drop outside the US. The company revised its full-year RevPAR outlook to flat to 1pc growth. Ballotti stated the international performance was weighed down by Europe, Latin America and the Caribbean, with continued softness in Mexico.
Wyndham removed roughly 27,200 rooms from its portfolio in the first half of the year, more than two-thirds in the US, while adding 31,700 rooms. The company’s adjusted EBITDA was up 9pc to $212m, with net income increasing 17pc to $102m. Wyndham made $54m in share repurchases and paid a quarterly cash dividend of $0.43 per share.
Geoff Ballotti, President and CEO of Wyndham, shared, “About 10pc of the $60bn of tax refunds will be spent on travel… and middle-income guests are going to be spending.”
Geoff Ballotti shared, “Excluding the Middle East and Revo, our performance in EMEA was up 5pc.”
