Results for: Wyndham Hotels & Resorts

Wyndham Hotels & Resorts, the world’s largest hotel franchising company, has expanded its presence in Turkey with the grand opening of the Ramada by Wyndham Dalaman. This new hotel boasts modern amenities, family-friendly features, and a strategic location near Dalaman Airport, catering to both leisure and business travelers. The property also offers versatile event spaces for conferences, weddings, and other special celebrations, solidifying Wyndham’s commitment to the Turkish hospitality market.

Wyndham Hotels & Resorts has announced the successful repricing of its $1.1 billion Senior Secured Term Loan B Facility, along with a $400 million upsize, which now matures in May 2030. The new interest rate is SOFR plus 1.75%, representing a 60 basis point reduction, with an issue price of 99.875%, the tightest in the SOFR era. This move is expected to generate annual interest savings of approximately $6 million, with no changes to the company’s maturities or covenants.

Wyndham Hotels & Resorts has partnered with Decameron All Inclusive Hotels & Resorts to add nine new all-inclusive resorts to its portfolio. The alliance expands Wyndham’s global all-inclusive offerings to over 50 resorts and integrates Decameron with Wyndham’s marketing, technology, and distribution platforms, including the acclaimed Wyndham Rewards® program. Decameron will maintain ownership and operation of all nine properties within the alliance.

Wyndham Hotels & Resorts announced robust results for the three months ended March 31, 2024, highlighting continued progress in execution, openings, franchisee retention, and net room growth worldwide. The company’s global system expanded by 4%, with 1% growth in the U.S. and 8% internationally. The first quarter witnessed a 1% increase in global RevPAR, driven by a 5% decline in the U.S. and growth of 14% internationally. The company generated strong net cash provided by operating activities and adjusted free cash flow, ending the quarter with ample liquidity. Wyndham Hotels also executed $115 million of new forward starting interest rate swaps on its Term Loan B Facility, further enhancing its financial stability. The company’s Board of Directors increased the share repurchase authorization, reinforcing its commitment to returning value to shareholders. These positive results showcase Wyndham Hotels’ ongoing resilience, adaptability, and growth trajectory in the global hospitality industry.