What is Wyndham Hotels & Resorts's latest dividend and current dividend yield?

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What were the key takeaways from Wyndham Hotels & Resorts’s earnings call?

- **Record Growth**: 72,000 rooms opened (13% YoY), 870 deals signed (18% YoY), 15% ancillary fee growth.
- **AI Success**: 350 AI agents drove 300bps direct booking growth, Claude integration enables AI search bookings.
- **Financial Resilience**: $433M free cash flow, 7.5% yield, $393M returned to shareholders despite $160M Revo charge.
- **2026 Outlook**: 4-4.5% net room growth, flat to down 1.5% RevPAR, $730-745M EBITDA.
- **China Recovery**: 14% room growth, ADR improving 200bps in Q4, flat 2026 vs. industry.
- **Credit Card Expansion**: U.S. card renewals, Canada launch, and international blueprint for new fee streams.

**【CEO Summary Section】**
- Delivered net room growth of 4% and full year comparable adjusted EBITDA and EPS growth of 4% and 6%, respectively.
- Signed 870 deals (18% increase) and opened 72,000 rooms (13% more than 2024), with 15% growth in ancillary fees.
- AI initiatives drove 350 Agentic AI agents handling millions of guest interactions, reducing labor costs and generating incremental revenue.
- Development pipeline expanded by 3% to 260,000 rooms, with 30% feePAR premium domestically and 20% internationally.
- Q4 RevPAR declined 6% globally, but booking windows and cancellation rates improved vs. Q4 2024.
- U.S. RevPAR down 11% in Texas, California, and Florida, but Midwest states like Missouri and Michigan showed strength.
- International growth: EMEA up 7%, Latin America up 6%, China down 10% due to deflation.
- Wyndham Rewards Insider subscriptions doubled in November and December.
- Launched DaZLR Select conversions and Echo Suites openings in Round Rock, Texas, and Naples, Florida.
- Added 2,000 rooms in Oklahoma via Choa Resorts, offsetting 3,000 legacy room terminations.

**【CFO Financial Commentary】**
- Q4 fee-related and other revenues: $334M (down 2% YoY), adjusted EBITDA: $165M (up 2% on comparable basis).
- Full year fee-related revenues: $1.43B (up $25M YoY), adjusted EBITDA: $718M (up 4% on comparable basis).
- Adjusted free cash flow: $433M (7.5% yield), with $393M returned to shareholders via dividends and buybacks.
- Recorded $160M noncash charges related to Revo Hospitality Group insolvency, impacting 2026 outlook.
- 2026 guidance: Global net room growth 4-4.5%, RevPAR flat to down 1.5%, fee-related revenues $1.46-1.49B, adjusted EBITDA $730-745M.
- Development advances: $105M in 2025, targeting $110M in 2026.
- Liquidity: $840M, net leverage 3.5x, with $400M available capital for growth or returns.

**【Q&A Highlights】**
- **RevPAR Trends**: Q4 U.S. RevPAR down 6%, but January improved to down 4%, with Texas up 1% and Florida up 400bps. Q2+2026 needs only flat U.S. RevPAR to meet guidance.
- **AI Impact**: Agentic AI agents drove 300bps direct booking growth, with Claude integration enabling seamless bookings in AI search.
- **China Recovery**: 2025 China RevPAR down 19% vs. 2019, but ADR improving 200bps in Q4. 2026 outlook: flat vs. industry, with 14% net room growth in 2025.
- **Affiliate Deals**: Choa Resorts added 2,000 rooms, offsetting legacy terminations. Affiliate growth focused on feePAR-accretive markets like Miami and Mexico City.
- **Revo Insolvency**: Deferring $12M in royalties, with conservative 2026 outlook excluding Revo-related revenue.
- **AI Costs**: < $100K to connect to LLMs, no transaction costs. Benefits include labor savings and incremental franchisee revenue (e.g., $120K/year for one Howard Johnson hotel).
- **Credit Cards**: U.S. co-branded card renewals driving 2026 growth, with Canada launch in H2 and international expansion blueprint.


Wyndham Hotels & Resorts, Inc.(WH)-20260219-2025 Q4 Earnings call transcript

- **Revenue Resilience**: Global pipeline expanded 4% to 257,000 rooms, with 21% room openings growth and 24% more deals signed. U.S. midscale system grew 200bps, driven by new constructions.
- **AI-Driven Efficiency**: Wyndham AI handled 0.5M interactions, reducing handle time by 25% and improving direct booking conversion. Only 7% of hotels use this tech, with rapid adoption expected.
- **Ancillary Growth**: 18% Q3 ancillary fee growth from credit card (11% new accounts, 7% spend growth) and new subscription program offering 30% savings.
- **Financial Outlook**: Full-year RevPAR down 3-2%, adjusted EBITDA $715-725M (down $15-20M), and free cash flow conversion target 45-50%.
- **Strategic Moves**: Launched Dazzler Select in U.S., partnered with Ovolo Group for upscale hotels, and introduced Wyndham Rewards Insider subscription program.

**【CEO Summary Section】**
- **Resilient Growth**: Q3 saw 21% increase in room openings, 24% more deals signed, and a 4% expansion of the global pipeline to 257,000 rooms. U.S. midscale and above system grew by 200 basis points, driven by new constructions like ECHO Suites in Reno and Sterling.
- **New Brand Expansion**: Launched Dazzler Select by Wyndham in the U.S., targeting economy hotels with flexible franchising. Internationally, added 88 direct franchise hotels in India and 50 in the pipeline, and partnered with Ovolo Group to bring 4 upscale hotels into the system.
- **AI Innovation**: Wyndham AI agents handled 0.5 million customer interactions, reducing handle time by 25% and improving direct booking conversion. Only 7% of hotels are using this technology, with rapid adoption expected.
- **Ancillary Revenue Growth**: Ancillary fees rose 18% Q3, driven by Wyndham Rewards co-branded credit card (11% new accounts, 7% spend growth) and the new Wyndham Rewards Insider subscription program offering 30% savings and exclusive benefits.

**【CFO Financial Commentary】**
- **Financial Performance**: Fee-related and other revenues were $382 million, down 3% YoY due to 5% RevPAR decline. Adjusted EBITDA was flat YoY at $213 million, supported by 18% ancillary revenue growth and a 40% FeePAR premium on new openings. Adjusted free cash flow was $97 million Q3, $265 million YTD.
- **Outlook Update**: Full-year global RevPAR expected to decline 3-2% (Q3: -5%), with Q4 RevPAR down 7-4%. Fee-related revenues revised to $1.43-1.45 billion, down $20-40 million from prior guidance. Adjusted EBITDA now $715-725 million, down $15-20 million. Free cash flow conversion target remains 45-50%.
- **Balance Sheet**: $540 million liquidity, net leverage 3.5x. Refinanced $1 billion revolver with 30% capacity increase and 35bp rate reduction.

**【Q&A Highlights】**
- **RevPAR Trends**: U.S. economy/midscale segments underperform due to Sunbelt overindexing, while EMEA and Latin America grew 4% and 4%, respectively. Q4 RevPAR expected to match Q3 softness, with 100-300bps reduction from prior outlook.
- **AI Impact**: Wyndham AI reduces front desk workload, drives ancillary revenues (e.g., early check-ins, in-room upgrades), and improves direct booking conversion by 300bps. Franchisees with AI adoption see significant cost savings and revenue growth.
- **Marketing Fund Management**: Q3 marketing fund overspend $18 million vs. $12 million last year, but 100% recovery expected over 1-2 years. Investments in Wyndham Insider and digital platform updates viewed as strategic long-term benefits.
- **Competition with STRs**: Focus on reputation, online reviews, and AI-driven guest engagement to differentiate from short-term rentals. Wyndham Connect and AI agents enhance guest trust and booking convenience.

Wyndham Hotels & Resorts (WH)-23 Oct 25-2025 Q3 Earnings call transcript

- **Revenue Resilience**: 5% EBITDA growth and 11% EPS increase despite macro challenges, driven by 20% ancillary fee growth.
- **Pipeline Strength**: Record 255,000-room pipeline (+20% YoY) and 40% Q2 signings growth highlight long-term growth potential.
- **China Shift**: Direct franchising expansion (16% net room growth) offsets Super 8 China challenges, with 400+ direct hotels in pipeline.
- **Tech Innovation**: Launch of Wyndham Connect PLUS and Wyndham Gateway enhance guest engagement and owner profitability.
- **Capital Allocation**: $550M available for returns, with $110M for strategic deals and balance for buybacks, supporting 6% free cash flow yield.

**【CEO Summary Section】**
- Reported strong Q2 performance with 5% growth in comparable adjusted EBITDA and 11% increase in EPS, despite a challenging RevPAR environment.
- Ancillary fee streams grew nearly 20%, driven by new co-branded credit card agreements and technology innovations like Wyndham Connect PLUS and Wyndham Gateway.
- Global system growth of 4% with 16,000 new rooms opened, Q2 signings up 40% YoY, and a record 255,000-room pipeline (20th consecutive quarter of growth).
- Launched new tools to enhance owner profitability, including Wyndham Marketplace for procurement savings and insurance programs with HUB International.
- Faced operational challenges with the Super 8 China master licensee, leading to revised reporting metrics and exclusion of 16,000 rooms from system metrics.
- Royalty rates increased 6bps domestically and 13bps internationally, reflecting focus on higher FeePAR properties.

**【CFO Financial Commentary】**
- Generated $397M in fee-related revenues and $195M in adjusted EBITDA, with EPS up 11% to $1.33.
- Adjusted free cash flow of $88M (50% conversion rate from EBITDA), with $109M returned to shareholders via buybacks and dividends.
- Raised net room growth guidance to 4%-4.6% (from 3.6%-4.6%) due to Super 8 China exclusion, with $550M capital allocation ($110M for key money, remainder for shares).
- Outlook for 2025: Global RevPAR growth of -2% to +1%, EPS range of $4.60-$4.78, and ancillary fee growth in line with full-year expectations.

**【Q&A Key Highlights】**
- **RevPAR Trends**: U.S. RevPAR down 4% (normalized -2.3%), with strength in Midwest industrial states (e.g., Ohio, Oklahoma) offsetting Sunbelt weakness. International RevPAR growth of 1% (excluding China, down 9%).
- **China Strategy**: Shifting focus to direct franchising (16% net room growth Q2) with 400+ direct hotels in pipeline, despite challenges with Super 8 master licensee.
- **Ancillary Growth**: Credit card program drove 19% Q2 ancillary fee growth, with momentum expected to continue.
- **Key Money Deployment**: Cautious approach with $110M allocated, targeting high FeePAR deals (36% higher than existing system).
- **ECHO Suites Expansion**: 1,600 new rooms signed Q2, with international expansion planned in Canada and Mexico.
- **Super 8 China**: Potential termination of master license agreement, but financial impact immaterial ( <$3M annual contribution).

Wyndham Hotels & Resorts, Inc. (WH) Q2 2025 Earnings Call Transcript

- **Q1 Growth Highlights**: 9% EBITDA growth, 20% EPS rise, 15,000 rooms added, and 180 new contracts signed.
- **U.S. Demand Caution**: Q1 RevPAR underperformed (-3% April trend), but May booking pace improved 400bps last week.
- **Pipeline Strength**: Record 254,000-room pipeline (+19% YoY), 30%+ FeePAR premium on new signings.
- **Financial Discipline**: $109M shareholder returns, 55% free cash flow conversion, and narrowed EBITDA guidance to $730M-$745M.
- **Strategic Focus**: Direct franchising in China (+17% YoY), Germany deal for 3,000 rooms, and 70% U.S. openings via conversions.


**【CEO Opening Remarks】**
- **Q1 2025 Performance**: Adjusted EBITDA grew 9% year-over-year to $145M, and adjusted EPS increased 20% to $0.86. Global system expanded by 4%, adding 15,000 rooms (13% YoY growth) and signing 180 new contracts.
- **Revenue Trends**: Global RevPAR rose 2% in constant currency, with strong growth in Latin America (+25%), EMEA (+6%), and Southeast Asia (+8%). U.S. RevPAR underperformed expectations due to macro uncertainty, finishing 2% higher but 3 points below internal forecasts.
- **Strategic Strengths**: 90% of U.S. bookings come from drive-to leisure travelers, with 3% exposure to international inbound demand. Extended-stay and mid-scale brands outperformed during economic downturns, capturing trade-down demand from upscale travelers.
- **Pipeline Momentum**: Record pipeline of 254,000 rooms (+19% YoY), with 30%+ FeePAR premium on new signings. Direct franchising in China grew 17% YoY, outpacing master licensee growth.

**【CFO Financial Review】**
- **Q1 Financials**: Fee-related revenues $316M (+4% YoY), driven by 9% growth in royalties/franchise fees. Ancillary revenues rose due to credit card partnerships (Barclays accounts +11%, new debit card targeting younger demographics) and loyalty program expansions (Carnival Cruise Lines addition).
- **Profitability**: Adjusted EBITDA margin improved 60bps, with free cash flow conversion at 55%. Share buybacks accelerated (+35% YoY) amid market volatility, returning $109M to shareholders.
- **2025 Outlook**: Global RevPAR expected to range from -2% to +1% (vs. prior +2% to +3%). Fee-related revenues now $1.45B-$1.49B (-$20M midpoint), with adjusted EBITDA guidance narrowed to $730M-$745M (-$10M-$15M). Free cash flow conversion target 57%.

**【Q&A Key Themes】**
- **U.S. Demand Dynamics**: April RevPAR trended -3% YoY (consistent with March), but May booking pace improved 400bps last week. Pricing power remains intact, with ADRs still below inflation. 60% of U.S. demand occurs in Q3, positioning for summer recovery.
- **Development Resilience**: Q1 net room growth 4% globally, 13% YoY in openings. 70% of U.S. openings via conversions, with new construction pipeline up 400bps. Sourcing strategies mitigate tariffs (e.g., 100% U.S.-made FF&E for Days Inn Dawn prototype).
- **International Growth**: China direct franchising +17% YoY, Latin America pipeline +9%, EMEA pipeline +40%. Germany deal adds 3,000 rooms via strategic financing, reflecting focus on high-FeePAR markets.
- **Ancillary Revenue**: Low-teens growth expected, with 2/3 of credit card fees insulated from travel spend fluctuations. New debit card targeting younger demographics drove early momentum.


Wyndham Hotels & Resorts, Inc. (WH) Q1 2025 Earnings Call Transcript

- **Revenue Record**: 69,000 rooms opened in 2024, U.S. RevPAR +5.3% Q4, China direct franchising +16%.
- **Extended Stay Surge**: ECHO Suites pipeline 33,000 rooms, Wyndham Residences launched in key markets.
- **Loyalty Dominance**: 114M members, U.S. occupancy share 50%, 300K experiential partnerships.
- **Card Program Boost**: Renewed credit card + new debit card to drive $35M+ ancillary growth in 2025.
- **China Recovery**: 2025 pipeline 400 hotels at 40% higher FeePAR, signaling post-COVID recovery.
- **AI Efficiency**: Wyndham Connect automates 60% of tasks, 2/3 system opting in for free.

**【CEO Key Highlights】**
- **Record Growth**: Opened 69,000 rooms in 2024, a 4% increase vs. 2023, with 95.7% franchise retention rate. U.S. RevPAR +5.3% Q4, driven by infrastructure (+140bps) and data center demand. China direct franchising grew 16% with 60+ openings.
- **Extended Stay Expansion**: ECHO Suites pipeline at 33,000 rooms, outperforming owner expectations. Wyndham Residences launched in DC and Houston, targeting $27B extended stay market by 2028.
- **Loyalty Program Strength**: Wyndham Rewards now 114M members, 8% YoY growth. U.S. occupancy share +200bps to 50%, with 300K experiential travel partnerships.
- **Card Program Momentum**: Renewed Barclays co-branded credit card with stronger economics, plus new debit card partnership with SoFi for $4.5T debit market access.

**【CFO Financial Updates】**
- **Q4 2024 Results**: Fee-related revenue $341M (+7% YoY), adj. EBITDA $168M (+12% on comparable basis). Full-year adj. EBITDA $694M (+7%), margin +200bps to 13.4%.
- **2025 Outlook**: Net rooms growth 3.6-4.6%, RevPAR +2-3% (U.S. +5% excluding hurricanes). Fee-related revenue $1.49-1.51B, adj. EBITDA $745-755M (+7-9%).
- **Cash Flow & Returns**: 2024 free cash flow $397M (57% conversion). $430M returned to shareholders (6% of market cap), including 8% dividend hike to $0.41/share.

**【Q&A Key Takeaways】**
- **Development Strategy**: 2025 pipeline +5%, with 90% key money deployed in U.S. midscale/above. FeePAR premium of 38% on key money investments. China pipeline +40% at 40% higher FeePAR.
- **Ancillary Growth**: 2025 ancillary revenue +low teens ($35M incremental), driven by renewed credit card and debit card launch. 2026+ growth to accelerate with new products.
- **China Recovery**: RevPAR down 11% in 2024 but ADR +3% vs. 2019. 2025 pipeline at 400 hotels with 40% higher FeePAR, signaling sustainable growth post-COVID.
- **AI & Automation**: Wyndham Connect automates 60% of franchisee tasks, enabling 2/3 of system to opt-in for free. Early check-in/checkout monetization driving ancillary revenue growth.


Actual								0.5	0.1	0.36	0.07	0.36	0.95	1.16	0.69	0.95	1.07	1.21	0.72	0.86	0.93	1.31	0.91	0.78	1.13	1.39	1.04	0.86	1.33	1.46	0.93
Forecast								0.4124	-0.0467	0.3199	0.0478	0.252	0.664	0.9089	0.5367	0.6444	0.9408	1.0373	0.6189	0.8031	0.9187	1.2446	0.8944	0.7439	1.0338	1.377	0.9906	0.8173	1.1649	1.4369	0.891	0.8478
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+21.24%	+314.13%	+12.54%	+46.44%	+42.86%	+43.07%	+27.63%	+28.56%	+47.42%	+13.73%	+16.65%	+16.34%	+7.09%	+1.23%	+5.25%	+1.74%	+4.85%	+9.31%	+0.94%	+4.99%	+5.22%	+14.17%	+1.61%	+4.38%	0.00%

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WH

WH fundamentals

WH Q1 2026 Earnings Preview

Earnings Call

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