TRENDING : Q1 REPORT
WYNDHAM REPORTS STRONG REVPAR GROWTH , RAISES 2023 OUTLOOK
THE HOTEL GIANT HAS RAISED ITS FULL-YEAR 2023 OUTLOOK , BACKED BY A NET ROOM GROWTH OF 4 %, INCLUDING 1 % OF GROWTH IN THE U . S . AND 9 % OF GROWTH GLOBALLY .
By KATHAKALI NANDI
Façade of The New Yorker , a Wyndham Hotel in New York City .
Wyndham Hotels & Resorts reported an impressive earnings report for the first quarter of 2023 , with global RevPAR up 12 % from Q1 2022 in constant currency .
The Parsippany , N . J . -based hospitality giant has raised its full-year 2023 outlook , backed by a net room growth of 4 %, including 1 % of growth in the U . S . and 9 % of growth globally .
These increases included robust growth in both the higher RevPAR midscale and above segments in the U . S . and the direct franchising business in China , which was up 4 % and 10 %, respectively ; along with 80 basis points of growth worldwide and 200 basis points internationally from the acquisition of the Vienna House brand .
Wyndham said it remains “ solidly on track ” to achieve its net room growth outlook of 2-4 % for the full year 2023 , including a surge in its retention rate against 2022 .
Global RevPAR in the first quarter soared 12 % in constant currency from 2022 , as the U . S . and international grew 4 %
24 hotelsmag . com June 2023