Wyndham Hotels & Resorts, Inc. - WH STOCK NEWS

sbe, led by Sam Nazarian, announces the launch of Project HQ Hotels & Residences in partnership with Wyndham Hotels & Resorts. Initial locations include Montreux, Switzerland, and Detroit, Michigan. The project aims to redefine lifestyle hotels with a blend of cultural and smart lifestyle elements. Strategic investments from Marc Anthony's Magnus enhance appeal to Millennials, Gen-Z, and Latin communities. A $50 million fund supports expansion, with 15+ hotels under discussion and plans for 10 more across the Caribbean and US Sun Belt. The Montreux property will feature two restaurants, a cocktail bar, a spa, and large event spaces. Detroit's property will include 174 rooms, a specialty restaurant, and quick-service delivery. The project benefits from Wyndham's technology and rewards programs, enhancing guest experiences and operational efficiency.

Wyndham Hotels & Resorts (NYSE: WH) has completed a successful debt repricing and upsizing of its $1.1 billion Senior Secured Term Loan B Facility, now totaling $1.5 billion, with an interest rate of SOFR + 1.75%. This repricing will save the company approximately $6 million annually in interest expenses. The loan was increased by $400 million due to strong investor demand, highlighting confidence in Wyndham's business model. Proceeds will be used for general corporate purposes, including repayment of revolving credit facility. No changes were made to maturities or covenants.

Wyndham Hotels & Resorts (NYSE: WH) has appointed Amit Sripathi as Chief Development Officer, reporting to CEO Geoff Ballotti. Sripathi will lead the North American franchise sales team, focusing on expanding Wyndham's midscale-and-above portfolio and its select-service segments. Sripathi's experience in mergers & acquisitions and capital markets will be instrumental in this role. During his tenure at Wyndham, he has helped divest owned and managed segments, resulting in a pure-play U.S. franchise business. With a record development pipeline and 15 consecutive quarters of organic net room growth, Sripathi aims to build on Wyndham's market-leading position. Outgoing Chief Development Officer Chip Ohlsson will leave in June after significantly expanding Wyndham's brand portfolio and championing diversity initiatives.

Wyndham Hotels & Resorts has partnered with Decameron All Inclusive Hotels & Resorts, adding over 2,600 rooms across nine new resorts in Mexico, Panama, and Jamaica to its all-inclusive portfolio, which now includes more than 50 resorts globally.

Decameron will continue to own and operate the resorts, benefiting from Wyndham's marketing, technology, and distribution platforms. The alliance integrates these resorts into Wyndham's award-winning Wyndham Rewards program, offering members enhanced redemption options.

The new resorts will join either the Trademark Collection or Ramada by Wyndham brands, providing diverse travel experiences combined with cultural immersion and extensive amenities.

Wyndham Hotels & Resorts, Inc. (NYSE: WH) declared a quarterly cash dividend of $0.38 per share, payable on June 28, 2024, to shareholders of record as of June 14, 2024. Wyndham Hotels & Resorts is the largest hotel franchising company globally with approximately 9,200 hotels in over 95 countries. The Company operates a portfolio of 25 hotel brands and offers the award-winning Wyndham Rewards loyalty program to approximately 108 million members.

Sabre Hospitality, a division of Sabre (NASDAQ: SABR), renewed its multi-year partnership with Wyndham Hotels & Resorts, migrating over 5,000 hotels to SynXis Property Hub ahead of schedule. The migration increased operational efficiency, reduced transition downtime by 34%, and set a new industry standard. The collaboration showcased groundbreaking efficiencies and improved guest experiences.

Wyndham Hotels & Resorts reported strong first quarter results with global RevPAR growth, increased development pipeline, and expanded share repurchase authorization. The company saw a 1% growth in global RevPAR, 8% increase in ancillary revenues, and a 4% growth in system size. The development pipeline grew by 8% year-over-year to a record 243,000 rooms. Despite a decline in net income, the company remains optimistic about its outlook for the full year 2024.

Travel + Leisure Co. (TNL) reported strong first quarter 2024 financial results with a net income of $66 million, $0.92 diluted earnings per share, on net revenue of $916 million. Additionally, the company achieved adjusted EBITDA of $191 million and adjusted diluted earnings per share of $0.97. The company expects second quarter adjusted EBITDA of $235 million to $245 million and reaffirms expectations for full year adjusted EBITDA of $910 million to $930 million. The Vacation Ownership segment saw a 6% increase in revenue to $725 million, driven by higher VOI sales and gross VOI sales. The Travel and Membership segment revenue decreased by 4% to $193 million due to a 6% decrease in transactions offset by a 1% increase in revenue per transaction. The company's balance sheet remains strong with a leverage ratio of 3.5x, $479 million in cash and cash equivalents, and $1.2 billion of liquidity. Share repurchases and dividend payments were also highlights of the quarter.

Wyndham Rewards has unveiled the three finalists for the Gillespie Wall Mural honoring The Greensboro Six civil rights pioneers. The finalists, Vincent Ballentine, Raman Bhardwaj, and Abel Jackson, bring diverse artistic backgrounds and experiences to the project. The mural will be installed at the historic Gillespie Golf Course in Greensboro, N.C., commemorating the legacy of The Greensboro Six and their pivotal role in desegregating the course and paving the way for diversity in golf.