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Jun 30, 2024
Wyndham Q2 2024 Earnings Report
Wyndham's Q2 2024 performance showcased resilience with strong adjusted EBITDA growth driven by net room and ancillary fee increases.
Key Takeaways
Wyndham Hotels & Resorts reported strong second-quarter results, with global RevPAR increasing by 2% in constant currency and system-wide rooms growing by 4% year-over-year. Diluted EPS increased by 30% to $1.07, and adjusted diluted EPS grew by 22% to $1.13. The company raised its full-year 2024 EPS outlook and grew its development pipeline by 7% to a record 245,000 rooms.
Global RevPAR grew 2% in constant currency.
System-wide rooms grew 4% year-over-year.
Development pipeline grew 7% year-over-year to a record 245,000 rooms.
Diluted earnings per share increased 30% to $1.07, and adjusted diluted EPS grew 22% to $1.13.
Revenue by Segment
Forward Guidance
The Company is refining its outlook as follows: Year-over-year rooms growth 3 - 4%, Year-over-year global RevPAR growth Approximately flat, Fee-related and other revenues $1.41 - $1.43 billion, Adjusted EBITDA $690 - $700 million, Adjusted net income $338 - $348 million, Adjusted diluted EPS $4.20 - $4.32, Adjusted free cash flow conversion rate ~60%
Positive Outlook
- Year-over-year rooms growth 3 - 4%
- Adjusted EBITDA $690 - $700 million
- Adjusted net income $338 - $348 million
- Adjusted diluted EPS $4.20 - $4.32
- Adjusted free cash flow conversion rate ~60%
Challenges Ahead
- Year-over-year global RevPAR growth Approximately flat
- Fee-related and other revenues $1.41 - $1.43 billion
- The reduction in RevPAR and fee-related and other revenues reflects a more moderated RevPAR acceleration than previously anticipated.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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