Wyndham Sees Budget Hotel Enthusiasm Cooling

Key Points

• Wyndham's net income fell 18% in Q2 due to cooling demand for budget hotels.
• Google did not prioritize travel in its latest report, despite past revenue growth.
• Royal Caribbean increased its earnings forecast by a third after strong Q2 results.

Summary

Wyndham Hotels & Resorts experienced an 18% drop in net income during the second quarter, attributed to a cooling demand for budget hotels post-pandemic. Meanwhile, the company is optimistic about the extended stay sector and is not concerned about competition. Alphabet, Google's parent company, did not highlight travel as a priority despite recent revenue growth from travel-related services. Royal Caribbean raised its earnings forecast by a third following strong second-quarter performance and higher consumer spending onboard.