Wyndham Hospitality, Inc. (NYSE: WYN) reported its results for the second quarter ended June 30, 2019. For the quarter, the company reported net income of $79.8 million, or $0.33 per share, compared to net income of $63.6 million, or $0.25 per share, for the same period in 2018.
Wyndham International Inc. (NYSE: WYN) is a leading global provider of travel and expense management solutions, which include consolidated subsidiaries such as Wyndham Vacation Ownership Inc., Wyndham Worldwide Operating Corp., Wyndham Worldwide Hotels Inc., and Wyndham International Corporate Services Inc. It is a diverse company, offering vacation ownership, hotel management and corporate services products, and operates in three segments: Americas, Europe and Asia Pacific.
As of the end of January, the global Wyndham Corporation has a market value of $6.8 billion. With a healthy annual revenue growth rate of 4.6% over the past six years, the hotel group has delivered strong results in the current year. Wyndham Corporation is a leading lodging industry player in the United States and around the globe. They break the world into three different segments: North America, Latin America, and Europe. In North America, the company holds a commanding 61% market share of the lodging market. Latin America is home to a highly lucrative market, with a 54% market share, and in Europe, Wyndham Corporation has a commanding 31% market share.
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Wyndham Hotels & Resorts, the world’s largest hotel franchise company with more than 8,900 hotels in nearly 95 countries, continues to build new prototype and dual branded hotels.
In the 12 months from April 2020 to March 2021, Wyndham completed nearly 100 new construction projects in the U.S., achieving approximately 90 percent of the previous 12 months before the pandemic.
The company currently has more than 260 hotels under construction, for a total of 950 hotels that will add approximately 140,000 rooms to its domestic and international portfolio.
In the second quarter of 2021 alone, La Quinta by Wyndham has opened or plans to open six new upper-middle-market hotels based on the Del Sol prototype, including:
-La Quinta by Wyndham – Corpus Christi, Texas (open)
-La Quinta by Wyndham – Terrell, Texas (open)
-La Quinta by Wyndham -Littleton, Colorado (open)
-La Quinta by Wyndham -Shorewood, Illinois (open)
-La Quinta by Wyndham – San Antonio, Texas (opening scheduled for June)
-La Quinta by Wyndham – Nashville, Tennessee (opening scheduled for June)
La Quinta by Wyndham Del Sol Prototype
Interest in the sleek and innovative Del Sol prototype skyrocketed as La Quinta developers were attracted by its sleek design, customizable layout and high RevPAR scores compared to competitors during the COVID-19 pandemic. The brand recently announced the opening of its 120th store. prototype of the La Quinta Del Sol hotel. Other Del Sol prototypes opening soon include La Quinta by Wyndham Round Rock East in Texas and La Quinta by Wyndham Maricopa – Copper Sky in Arizona.
Microtel by Wyndham Moda Prototype
Following three recent openings in the U.S., including the Microtel Inn and Suites by Wyndham Milford in Delaware, and the debut of the Moda prototype in Canada with the Microtel Inn & Suites by Wyndham Lac-Megantic in Quebec, the new Microtel by Wyndham Moda prototype continues a steady growth trajectory with approximately 110 hotels in development. The Moda prototype is the first of its kind in the economic services segment. It is designed to be built very cost effectively for a brand that outperforms its competitors with an industry leading RevPar of 115%. Moda reduces Microtel’s total square footage by nearly 30 percent compared to the previous prototype and provides more than 70 percent rentable space, one of the most rentable spaces in the economy and mid-range segments.
La Quinta by Wyndham and Hawthorn Suites by WyndhamDual brand concept
The new La Quinta and Hawthorn Suites dual-branded extended-stay hotel concept has also seen strong growth. Currently, approximately 35 dual-branded hotels are in development in markets such as Yuma, Arizona, Wichita, Canna and Charlotte, North Carolina. This strategic grouping of hotels allows owners to target both corporate and long-term customers, while optimizing development and operating costs. The concept includes a common lobby, a modern and spacious lounge, a fitness center, a bar, amenities and back rooms, all geared towards the many types of travelers who love these brands.
These progressive and efficient prototypes are key to Wyndham’s new construction strategy, and we have seen continued demand from developers seeking brand recognition and high performance, said Chip Olsson, chief development officer, Wyndham Hotels & Resorts. Owners have an excellent opportunity to diversify their customer base within the Wyndham portfolio by offering different brands that appeal to different audiences and benefit both the leisure and business markets.
SOURCE: Press release from Wyndham Hotels & Resorts.