Wyndham Hotels & Resorts, Inc. - WH STOCK NEWS

Wyndham Hotels & Resorts has announced that its new extended-stay brand, known as 'Project ECHO,' has surpassed its year-end goal by signing 100 hotels across the United States. This rapid growth, attributed to an efficient design that lowers operational costs, positions Project ECHO as Wyndham's fastest growing brand. Recent signings include 25 hotels in the Midwest by Holladay Properties and 10 hotels in South Florida and New Jersey by Gold Coast Premier Properties. The first Project ECHO hotel is set to open in 2023.

Wyndham Hotels & Resorts has launched a mobile tipping solution, in partnership with Béné, for its U.S. and Canadian franchisees, marking it as one of the first major hotel chains to adopt such technology. This digital platform allows guests to tip hotel staff conveniently via QR codes, enhancing the guest experience and encouraging digital payments. The initiative aligns with growing consumer preferences for cashless transactions, as 82% of Americans now opt for digital payments. The system is designed for easy implementation at virtually no cost to franchisees.

Wyndham Hotels & Resorts announced its acquisition of the Vienna House brand for €44 million, enhancing its upscale and midscale portfolio with around 40 hotels and over 6,000 rooms across Europe. This acquisition, the 23rd brand in Wyndham's collection, strengthens its position in Germany, adding 28 hotels and solidifying its presence in one of its largest European markets with 120 franchised hotels. The integration will enable Wyndham to utilize its marketing expertise to grow the brand further while allowing HR Group to concentrate on core operations. The new brand will be known as Vienna House by Wyndham.

Wyndham Hotels & Resorts has celebrated the groundbreaking of its new extended-stay brand in Plano, Texas, marking a significant milestone. The brand, currently referred to as 'Project ECHO', has 72 hotels in development. This new hotel will feature 124 rooms, designed for both leisure and business travelers, and is strategically located near Dallas. Anticipated to open in the second half of 2023, the project emphasizes cost-effectiveness and competitive space utilization. Wyndham's leadership highlights the surge in demand for extended-stay accommodations as a driving force behind this development.

Wyndham Hotels & Resorts (NYSE: WH) has declared a quarterly cash dividend of $0.32 per share on its common stock. This dividend will be payable on September 28, 2022 to shareholders of record as of September 14, 2022. Wyndham Hotels operates the world's largest hotel franchising business with approximately 9,000 hotels globally, targeting the economy and midscale segments. The company’s loyalty program boasts over 95 million enrolled members, enhancing customer engagement and incentivizing repeat business.

Wyndham Hotels & Resorts has announced the opening of the Wyndham Grand Cancun All-Inclusive Resort & Villas, the first of its kind in Mexico. Located in Cancun's Hotel Zone, the resort will open on November 1, 2022, and is already accepting reservations. This development expands the company's portfolio to over 65 hotels in Mexico, enhancing its presence in the region. The resort will feature 364 guest rooms, multiple dining options, pools, and recreational activities, and will also join the Wyndham Rewards loyalty program.

Wyndham Rewards is the title sponsor of the 83rd Wyndham Championship, offering fans a chance to win over 100 million Wyndham Rewards points. Fans attending the event can earn points through various interactive activities, and those watching from home can participate in a contest for a chance to win one million points. Participants must be members of the free Wyndham Rewards program. The tournament also features charitable initiatives, including donations for golfers' achievements. The event runs through August 7, 2022, at Sedgefield Country Club in Greensboro, N.C.

Wyndham Hotels & Resorts announced the addition of Greensboro's Grandover Resort & Spa to its Wyndham Grand brand portfolio. The resort, set on 1,600 wooded acres, features 244 rooms, two championship golf courses, and is recognized as a top destination in North Carolina. It will join Wyndham Rewards, allowing guests to earn points on stays. This partnership enhances Wyndham's presence in luxury hospitality and targets the thriving golf tourism market, especially during the Wyndham Championship event.

Wyndham Hotels & Resorts (NYSE: WH) reported a strong Q2 2022, with global RevPAR up 23% year-over-year. Hotel franchising revenues grew 18% to $335 million, while adjusted EBITDA increased 4% to $175 million. The company raised its full-year 2022 outlook, forecasting adjusted EBITDA of $611 - $631 million. The development pipeline grew by 9% to 208,000 rooms, with 187 new contracts signed. However, hotel management revenues fell 59% due to the sale of owned hotels. The company returned $171 million to shareholders through buybacks and dividends.