Wyndham Hotels & Resorts Stock Earnings Reports

Wyndham reported a resilient Q3 2025 with strong development activity, ancillary revenue growth, and disciplined capital returns despite a softer RevPAR environment. Key operating highlights: net room growth and pipeline expansion (pipeline up 4% to ~257k rooms; openings up 21%; record organic openings YTD), net rooms up across several international regions (China direct franchising +16%), and FeePAR-accretive development (openings entering at ~40% FeePAR premium). RevPAR declined (~5% global and domestic in constant currency; international down ~2%) driven by softness in select/economy segments and Asia Pacific (China down ~10%). Ancillary fees grew 18% in Q3 (YTD +14%), driven by credit card spend/account growth, technology initiatives (Wyndham Connect and Wyndham AI) and the newly launched Wyndham Rewards Insider subscription. Financials: fee-related and other revenues down 3% YoY on a comparable basis; adjusted EBITDA flat on a comparable basis at $213M; adjusted diluted EPS $1.46 (up 1% comparable); adjusted free cash flow $97M in Q3 and $265M YTD. Capital allocation: returned $101M in Q3 (repurchases + dividends); repurchased 2.5M shares YTD for $223M. Liquidity and balance sheet: $540M total liquidity; net leverage ~3.5x; revolving credit facility refinanced to $1B, lower cost and extended to 2030. Outlook: full-year constant-currency global RevPAR now expected down 3% to 2% (reduced from prior outlook), implying Q4 RevPAR down 7% to 4%; net room growth unchanged at 4%–4.6%; fee-related revenue now expected $1.43B–$1.45B; adjusted EBITDA $715M–$725M; adjusted diluted EPS $4.48–$4.62. Management is prioritizing cost discipline, targeted investment (marketing fund modest overspend to support strategic initiatives), accelerating direct booking and ancillary revenue via AI and loyalty, and continued development in higher FeePAR segments.