The company reported a profit of $102 million, or $1.36 per share, climbing from $87 million in the same period last year. Adjusted earnings reached $1.48 per share, comfortably outpacing the $1.41 estimate anticipated by analysts polled by FactSet. Despite the earnings beat, total revenue dropped 6% to $375 million, falling short of the $400.7 million consensus.
In section Market Quotes
Wyndham Hotels Lifts Guidance Despite Revenue Miss
A 2% climb in domestic revenue per available room has prompted Wyndham Hotels & Resorts to raise its full-year financial outlook. While global markets show signs of softening, the hotel franchisor is signaling confidence in its U.S. performance, narrowing its growth projections for the remainder of the year.
Wyndham now expects full-year net revenue between $1.48 billion and $1.50 billion, raising the lower bound of its previous forecast. Global revenue per available room is now projected to remain flat or grow by 1%, a slight improvement over the company's prior guidance of a potential 1% decline. These targets reflect an attempt to balance domestic strength against a 1% dip in global RevPAR as international demand cools.
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