Wyndham Hotels & Resorts reported record room openings of nearly 18,000 in the second quarter, a 7% increase year-over-year, while adjusted EBITDA rose 3% on a comparable basis to $212 million. Net revenue declined 6% to $375 million, primarily due to the absence of pass-through revenues from a prior global franchisee conference. US RevPAR grew 2%, exceeding expectations by 120 basis points, but international RevPAR fell 6% in constant currency, dragged down by a 45% decline in the Middle East and underperformance from the Revo portfolio in Germany. The company expanded its development pipeline to a record of approximately 261,000 rooms and returned $86 million to shareholders through repurchases and dividends. Wyndham raised its full-year adjusted diluted EPS outlook to a range of $4.71 to $4.83 and expects adjusted EBITDA between $735 million and $745 million.
Wyndham Hotels & Resorts IncRecord room openings, raised full-year EPS and EBITDA outlook, and strong shareholder returns.