Global revenue per available room (RevPAR) climbed 12% Y/Y in constant currency.
System-wide rooms grew 4% Y/Y, with a 1% rise in the U.S. and a 9% increase internationally.
Segment Revenue: Hotel Franchising increased by 9% to $367 million, and Hotel Management declined by 68% to $40 million.
Total expenses for the quarter fell 18.2% to $247 million.
The operating margin was 39.3%, and operating income for the quarter fell 0.6% to $160 million.
The company held $286 million in cash and equivalents as of September 30, 2022. Cash provided by operating activities year-to-date totaled $349 million, and the free cash flow was $321 million.
Adjusted EBITDA decreased 2% Y/Y to $191 million.
Adjusted EPS of $1.21 beat the analyst consensus of $1.03.
In October 2022, the company’s Board of Directors increased the share repurchase authorization by $400 million.
“Despite the broader macro-economic climate, we are confident in the continued resiliency of our franchise model as we continue to invest in the business and generate substantial shareholder returns,” said CEO Geoffrey A. Ballotti.
Outlook: Wyndham raised FY22 adjusted EPS outlook to $3.84 – $3.89 (prior view $3.51 – $3.63), against the consensus of $3.61.
It expects FY22 RevPAR growth of 14%- 16% (previously 12% – 16%) and adjusted EBITDA of $636 million – $644 million (previously $611 million – $631 million).
Price Action: WH shares closed higher by 1.94% at $71.97 on Tuesday.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok
