The following is a summary of the Wyndham Hotels & Resorts, Inc. (WH) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Wyndham Hotels & Resorts reported Q1 fee-related and other revenues of $304 million and adjusted EBITDA of $141 million.

• Adjusted EBITDA grew 3% on a comparable basis and the adjusted EBITDA margin improved to 83%.

• An increase of 8% in ancillary revenue streams was registered, driven by higher license fees and credit card revenues.

• The company achieved a net leverage ratio of 3.4 times and plans to finish the year at a ratio of at least 3.5 times, providing over $400 million of capital available for share repurchases this year.

• Earnings per share were upwardly adjusted by $0.07 to a range of $4.18 to $4.30 to account for Q1 share repurchase activity.

Business Progress:

• Wyndham opened over 13,000 rooms globally, a 27% increase from last year, marking their largest first quarter of room openings since going public nearly six years ago.

• The development pipeline grew by 8% to record 243,000 rooms. Mid-scale and above brands in the pipeline increased by 4% to a record 168,000 rooms, nearly 70% of the pipeline.

• The company added 11 hotel conversions under the newly created WaterWalk Extended Stay by Wyndham brand in key US markets.

• Net rooms rose by 1% sequentially and by 8% versus prior year internationally with significant growth in Latin America and EMEA.

• The company launched Wyndham Business to streamline the direct booking process for businesses and travel planners.

• The company is expecting a lift from the infrastructure sector in the coming quarters due to rising interest and recent federal government allocations.

• The first ECHO Suites locations are expected to open during summer, with multiple sites being developed across different states.

• The company reported significantly better results in China due to increased domestic travel, despite limitations with flight capacity.

More details: Wyndham Hotels & Resorts IR

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