Wyndham to Add More Properties at a Faster Pace Under New Plan
Photo Caption: Exterior beach shot of the Wyndham Deerfield Beach Resort in Deerfield Beach, Florida. Source: Wyndham Hotels and Resorts.
Skift Take
Wyndham stands out for having a rapidly expanding pipeline for hotel development relative to most of its peers. That's important. As the world's largest franchisor, it boosts its overall earnings with every property it adds.
Wyndham Hotels & Resorts isn't the same company it was before the pandemic. It's now fully focused on franchising select-service properties. That clarity will enable the company to grow its property count worldwide more quickly, executives believe.
This year, the company divested two hotels it had owned and stopped offering to manage properties on behalf of owners. The strategy change led to one-time adjustments. The company reported a fall in revenue to $407 million compared to $463 million in the same quarter a year earlier. It generated net income of $101 million, down $2 million from a year earlier.
Despite the shortfall in the quarter, Wyndham raised its full-year outlook for revenue and profit. It forecasted it would generate an adjusted net income of between $349 million and $354 million. That would be about $23 million higher than it had previously predicted.
The Parsippany, New Jersey-based company — whose 23 brands include LaQuinta
