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Mar 31, 2022
Wyndham Q1 2022 Earnings Report
Wyndham's Q1 2022 results showcased strong growth driven by leisure and business travel demand, strategic exits, and a robust development pipeline.
Key Takeaways
Wyndham Hotels & Resorts reported strong first-quarter 2022 results, with global RevPAR increasing by 39% in constant currency and system-wide rooms growing by 200 basis points year-over-year. The company's strategic initiatives, including exiting the select-service management business and selling owned assets, contributed to a net income of $106 million and adjusted EBITDA of $159 million.
Global RevPAR increased by 39% compared to Q1 2021 in constant currency.
System-wide rooms grew by 200 basis points year-over-year.
Diluted earnings per share reached $1.14, while adjusted diluted earnings per share increased to $0.95.
The global development pipeline grew by 9% to a record 204,000 rooms.
Revenue by Segment
Forward Guidance
The Company is updating its outlook as follows: Year-over-year rooms growth 2% - 4%, Year-over-year global RevPAR growth 12% - 16%, Fee-related and other revenues $1.28 - $1.31 billion, Adjusted EBITDA $605 - $625 million, Adjusted net income $317 - $329 million, Adjusted diluted EPS $3.39 - $3.51, Free cash flow conversion rate ~55%
Positive Outlook
- Year-over-year rooms growth 2% - 4%
- Year-over-year global RevPAR growth 12% - 16%
- Adjusted EBITDA $605 - $625 million
- Adjusted net income $317 - $329 million
- Adjusted diluted EPS $3.39 - $3.51
Challenges Ahead
- Fee-related and other revenues $1.28 - $1.31 billion
- Free cash flow conversion rate ~55%
- removal of post-sale revenues related to the Wyndham Grand Bonnet Creek and Wyndham Grand Rio Mar from prior projections.
- removal from prior projections of depreciation related to the Wyndham Grand Bonnet Creek and Wyndham Grand Rio Mar.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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