Wyndham Hotels & Resorts Inc
NYSE:WH
Wyndham Hotels & Resorts Inc
Wyndham Hotels & Resorts Inc., the world’s largest hotel franchising company, weaves its story across the globe through a network of renowned hospitality brands. Born from a spin-off in 2018, it emerged as an independent entity strategically focused on expanding its franchise and management operations. Offering more than a picturesque lodging experience, Wyndham operates a broad spectrum of hotel brands, from economy to upscale, including recognizable names like Days Inn, Super 8, and Ramada. This extensive portfolio allows Wyndham to effectively cater to diverse markets, welcoming budget-conscious travelers alongside those seeking a more refined stay. The company’s headquarters in Parsippany, New Jersey, may serve as its physical heart, but its operational pulse truly beats through 9,000 hotels in over 90 countries.
Wyndham's business model pivots on the franchising approach, acting as the foundational mechanism for its revenue generation. By licensing its well-known brands to third-party hotel owners, Wyndham taps into a lucrative stream of franchise fees. These fees, typically calculated as a percentage of room revenues, offer a less asset-intensive pathway to profit compared to owning properties outright. Furthermore, Wyndham enhances its earnings through services like reservation systems, marketing, and operational support, which are offered to the franchised hotels. This model not only minimizes capital expenditure but also mitigates risks associated with property ownership, while benefiting from a scale of economies that enable extensive brand reach and market penetration. Thus, Wyndham's strategic orchestration of franchising and brand management crafts a compelling narrative of growth and expansive global presence in the hospitality industry.
Wyndham Hotels & Resorts Inc., the world’s largest hotel franchising company, weaves its story across the globe through a network of renowned hospitality brands. Born from a spin-off in 2018, it emerged as an independent entity strategically focused on expanding its franchise and management operations. Offering more than a picturesque lodging experience, Wyndham operates a broad spectrum of hotel brands, from economy to upscale, including recognizable names like Days Inn, Super 8, and Ramada. This extensive portfolio allows Wyndham to effectively cater to diverse markets, welcoming budget-conscious travelers alongside those seeking a more refined stay. The company’s headquarters in Parsippany, New Jersey, may serve as its physical heart, but its operational pulse truly beats through 9,000 hotels in over 90 countries.
Wyndham's business model pivots on the franchising approach, acting as the foundational mechanism for its revenue generation. By licensing its well-known brands to third-party hotel owners, Wyndham taps into a lucrative stream of franchise fees. These fees, typically calculated as a percentage of room revenues, offer a less asset-intensive pathway to profit compared to owning properties outright. Furthermore, Wyndham enhances its earnings through services like reservation systems, marketing, and operational support, which are offered to the franchised hotels. This model not only minimizes capital expenditure but also mitigates risks associated with property ownership, while benefiting from a scale of economies that enable extensive brand reach and market penetration. Thus, Wyndham's strategic orchestration of franchising and brand management crafts a compelling narrative of growth and expansive global presence in the hospitality industry.
Net Room Growth: Wyndham delivered 4% net room growth for the year, matching guidance, with record organic additions of 72,000 rooms and 870 deals signed (up 18% year-over-year).
Financial Results: Full-year comparable adjusted EBITDA grew 4% and adjusted EPS rose 6%, both in line with outlook. Adjusted free cash flow reached $433 million.
RevPAR Trends: Global RevPAR declined 6% in Q4, with softness in key U.S. states, but trends improved into January and February 2026, showing "green shoots" of demand recovery.
Development Pipeline: The global development pipeline increased 3% to nearly 260,000 rooms. New signings and openings are at higher royalty rates, boosting future growth.
Ancillary Fees & Loyalty: Ancillary fee streams grew 15% for the year and 19% in Q4. Wyndham Rewards membership also grew 13% in Q4.
Revo Insolvency Impact: A large European franchisee's insolvency led to $160 million in noncash charges and removal of related revenue from 2026 outlook.
2026 Guidance: Wyndham expects 4–4.5% global net room growth, fee-related revenues of $1.46–1.49B, adjusted EBITDA of $730–745M, and adjusted EPS of $4.62–4.80.
