Wyndham Hotels & Resorts Accelerates Strong Growth Trajectory, Converting Over 50 Hotels to its Brands in First Quarter 2021

Rhea-AI Summary

Wyndham Hotels & Resorts continues to expand despite industry challenges, converting 52 hotels to its brands in Q1 2021, representing over 70% of global room additions. The development pipeline now includes approximately 1,400 hotels and 187,000 rooms. The company awarded 112 new franchise contracts and reported growth in RevPAR and domestic market share gains. Recent conversions span across regions including the Americas, Europe, and Asia Pacific, showcasing the brand's strong market presence. Wyndham's diverse portfolio caters to increasing leisure travel demand.

Positive

• Converted 52 hotels in Q1 2021, accounting for over 70% of global room additions.
• Development pipeline now includes approximately 1,400 hotels and 187,000 rooms.
• Awarded 112 new franchise contracts in the first quarter.
• Reported improvements in RevPAR and gains in domestic market share.

Negative

• None.

PARSIPPANY, N.J., May 10, 2021 /PRNewswire/ -- Wyndham Hotels & Resorts, the world's largest hotel franchising company with over 8,900 hotels across nearly 95 countries, remains on a steady growth trajectory around the world and is continuing to debut new properties and enter new destinations. In a year of significant challenges for the hospitality industry, Wyndham strengthened its portfolio to generate sequential growth in system size and its development pipeline. The company's non-urban, drive-to economy and midscale hotels, combined with ongoing investment in sales and marketing, helped capture rising pent-up leisure travel demand, which continued to drive sequential RevPAR improvements and domestic market share gains for franchisees.

In the first quarter of 2021, Wyndham converted 52 independent and branded hotels to one of its 20  brands, accounting for over 70% percent of its global room additions. The brand's overall development pipeline has continued to expand both domestically and internationally with new conversion opportunities. The company awarded 112 new franchise contracts in the first quarter of 2021, and by March 31 the development pipeline had grown sequentially from Q4 to approximately 1,400 hotels and approximately 187,000 rooms.

"Our portfolio of iconic hotel brands offers a wide range of experiences and price points for guests as well as strong opportunities for franchisees and developers," said Geoffrey A. Ballotti, president and chief executive officer, Wyndham Hotels & Resorts. "Our global sales, marketing and loyalty teams are looking forward to helping more travelers discover all these new hotels."

A selection of the company's recent hotel conversions to date are noted below by region.

Americas

Wyndham signed a nine-hotel franchise agreement in Q1 with The Thrash Group for its namesake, upscale, Wyndham® brand in the U.S. The nine hotels, all managed by Charlestowne Hotels, span across the U.S. and include a mix of lifestyle-focused boutique hotels, historic hotels and new construction hotels scheduled to open later this year and next. "Converting our hotels to Wyndham has allowed us access to new resources and further opportunities, which supports us in running our business proficiently," said Ike Thrash, founding partner, The Thrash Group. "That paired with the award-winning brand's recognition will help contribute to my Thrash's overall success and hopefully further development of additional Wyndham properties."

In downtown San Francisco, The BEI Hotel in San Francisco, is another recent conversion for the Trademark Collection that is scheduled to open in May. Located by the Financial District and Union Square, guests can stay in the heart of the city and enjoy well-appointed guest rooms, a fitness center and other inviting amenities. Just 14 miles from San Francisco International Airport and 20 miles from Oakland International Airport, this contemporary, hotel is surrounded by world-class restaurants and minutes from Civic Center Plaza, Moscone Center, and Union Square. And on Long Island, N.Y., the award winning and LEED certified Viana Hotel & Spa converted to a Trademark by Wyndham.

New conversion hotels in the Caribbean include the Kunuku Resort All Inclusive in Curacao along with the Turtle Island Beach Resort, in Belize — both of which are converting to Trademark Collection by Wyndham. The most recently awarded Caribbean franchise contract is to The Buccaneer Beach & Golf Resort in St. Croix, an upscale property that will be converting to Wyndham's Trademark Collection and mark the first Wyndham Hotels & Resorts property in St. Croix. The family owned and operated 340-acre resort is the island's only four-star resort, offering 130 guest-rooms and suites.

In Latin America, TRYP by Wyndham Guayaquil, Ecuador was recently converted to a Wyndham as part of the company's urban lifestyle brand. The centrally located hotel is steps away from the city's top dining venues, the Mall del Sol and the Guayaquil Convention Center.

Asia Pacific

In Asia Pacific, the Company's expansion continues where the number of its executed deals in the pipeline are nearly 50% larger than it was a year ago. Conversion activity was strong, with a 5 star hotel in Xin Yang Henan Province, China converting to the Wyndham Xin Yang. The company also recently welcomed the Ramada Encore by Wyndham Shanghai Pudong Airport. With more than 1,500 hotels in 20 regional markets and territories, the company is in a leading position within the region and is on track to reach 2,000 hotels in Asia Pacific within the next three years.

Europe

In Europe, the recent March opening of Hotel Avenue Louise Brussels, Trademark Collection by Wyndham marked Wyndham's first Trademark Collection hotel in Belgium. The 78-room stylish hotel underwent a $3.1 million refurbishment and offers guests the perfect balance between comfort and local charm in the heart of Brussels.

Middle East

The debut of the very first La Quinta by Wyndham brand in the Middle East was will be made with the 100-room La Quinta by Wyndham Dubai Bur Dubai, in one of the city's bustling commercial hubs offering easy access to leisure attractions. The newly refurbished hotel will open in May boasting contemporary guest rooms and elegant interiors. 

Interested developers can visit the Wyndham Franchise Development website, or contact the Wyndham Franchise Development team by email at development@wyndham.com for more information.

About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world's largest hotel franchising company by the number of properties, with over 8,900 hotels across nearly 95 countries on six continents. Through its network of over 797,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services. The Company's award winning Wyndham Rewards loyalty program offers 87 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.

This press release contains "forward-looking statements" within the meaning of U.S. federal securities laws, including the expected addition of hotels within the Asia Pacific Region and similar statements concerning possible future results or performance.  You are cautioned not to place undue reliance on these forward-looking statements, which are not guarantees of future results or performance, speak only as of the date of this press release and are subject to numerous risks and uncertainties, including the risks described in Wyndham Hotels' most recent Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission, any of which could cause actual results or performance to be materially different from the future results or performance expressed or implied by such forward-looking statements.  Except as required by law, Wyndham Hotels undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise.

CONTACT:
Scott Carman
Senior Director, Global Communications
Wyndham Hotels & Resorts, Inc.
+1 (973) 753-6590
Scott.carman@wyndham.com 

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SOURCE Wyndham Hotels & Resorts

FAQ

What did Wyndham Hotels announce in its May 10, 2021 press release?

Wyndham Hotels announced the conversion of 52 hotels to its brands in Q1 2021 and the expansion of its development pipeline to approximately 1,400 hotels.

How many new franchise contracts did Wyndham Hotels award in Q1 2021?

Wyndham Hotels awarded 112 new franchise contracts in the first quarter of 2021.

What is the current development pipeline size for Wyndham Hotels?

The development pipeline for Wyndham Hotels is approximately 1,400 hotels and 187,000 rooms.

What regions are included in Wyndham Hotels' recent conversions?

Recent conversions include locations in the Americas, Europe, the Caribbean, Latin America, and Asia Pacific.

What is the significance of the 70% figure mentioned in Wyndham Hotels' press release?

The 70% figure represents the portion of global room additions accounted for by the 52 hotels converted to Wyndham brands in Q1 2021.