Wyndham Hotels & Resorts

Wyndham Hotels & Resorts is one of the world's largest hotel franchising companies. It has about 8,500 hotels with more than 877,000 rooms in about 100 countries. Most of its hotels are in the economy and midscale segments. Hotel owners pay it royalties and fees to use its brands, reservation system and loyalty program, and it does not own most of the hotels.

At September 30, 2026, it had 500,000 rooms in the United States and 377,400 rooms in other countries. Its headquarters are in Parsippany, New Jersey. Geoff Ballotti is President and CEO.

The market prices Wyndham for weak demand at economy and midscale hotels and for slow growth in the United States. Its U.S. system shrank 1% in the year to September 30, 2026. International RevPAR fell 3% in constant currency in Q3 2026, and RevPAR in China fell 10%. Revo Hospitality Group, a large European franchisee, entered insolvency, and Wyndham removed all Revo revenue from its 2026 outlook.

Net debt leverage is 3.6 times, near the middle of its target of 3 to 4 times. For the gap to close, three things must be true. U.S. RevPAR must keep growing.

It rose 6% in Q3 2026, and Wyndham expects Q4 2026 to be near the Q3 level. Global net rooms must grow about 4% in 2026, and the record pipeline of about 264,000 rooms must keep opening. Adjusted EBITDA must reach the 2026 outlook of $740 million to $745 million and grow in 2027. The Q4 2026 report and the 2027 outlook in early 2027 give the next test.

If these checks pass, the gap can close over the next four to six quarters. The main reason it may not close is a weaker U.S. economy, which hits economy and midscale hotels first.

1. Oct 21, 2026Passed

   Q3 2026 earnings: U.S. RevPAR and rooms growthU.S. RevPAR growth near 2% and the 2026 outlook kept or raised pass; a fall in U.S. RevPAR or a lower outlook fails.Outcome: U.S. RevPAR rose 6%, and Wyndham raised its 2026 outlook to adjusted EBITDA of $740 million to $745 million and adjusted diluted EPS of $4.84 to $4.92.
2. Jan 21, 2027 · est.Pending

   2026 results and 2027 outlookNet rooms growth of about 4% or more in 2026 and a 2027 outlook for adjusted EBITDA growth pass; lower rooms growth or flat EBITDA guidance fails.

Every passed and failed checkpoint across all picks

• October 21, 2026Wyndham reported Q3 2026 results. U.S. RevPAR rose 6%, and global RevPAR rose 2% in constant currency. Global rooms grew 4% without Revo, and the pipeline reached a record of about 264,000 rooms. Net income fell 6% to $99 million and adjusted EBITDA fell 3% to $207 million. Marketing fund timing reduced the comparison, and on a comparable basis adjusted EBITDA rose 5%. Wyndham raised its 2026 outlook to adjusted EBITDA of $740 million to $745 million and adjusted diluted EPS of $4.84 to $4.92. It now expects rooms growth of about 4%.
• September 29, 2026The board increased the share buyback authorization by $400 million. The program has no end date.
• July 22, 2026Wyndham reported Q2 2026 results. U.S. RevPAR rose 2%, and global rooms grew 4% without Revo. Net income rose 17% to $102 million, adjusted diluted EPS rose 11% to $1.48 and adjusted EBITDA rose 9% to $212 million. Wyndham raised its 2026 outlook to adjusted EBITDA of $735 million to $745 million and adjusted diluted EPS of $4.71 to $4.83.

Last earnings

October 21, 2026 (8-K on sec.gov)

Next earnings

Expected about January 21, 2027. The company has not confirmed the date.

• 10-QQuarterly report for the period ended Sep 30, 2026Filed October 22, 2026 · wh-20260930
• 8-KEarnings release and Investor disclosureFiled October 21, 2026 · Press release and exhibits
• 10-QQuarterly report for the period ended Jun 30, 2026Filed July 23, 2026 · wh-20260630
• 8-KEarnings release and Investor disclosureFiled July 22, 2026 · Press release and exhibits
• 8-KChange of directors or officers and Shareholder vote resultsFiled May 18, 2026 · Read it on sec.gov
• 10-QQuarterly report for the period ended Mar 31, 2026Filed April 30, 2026 · wh-20260331
• 8-KEarnings release and Investor disclosureFiled April 29, 2026 · Press release and exhibits
• 8-KChange of directors or officers and Investor disclosureFiled March 3, 2026 · Read it on sec.gov
• 8-KNew material agreement and New debt or financial obligationFiled February 27, 2026 · Read it on sec.gov
• 8-KOther company newsFiled February 24, 2026 · Read it on sec.gov

Every filing on SEC EDGAR (CIK 1722684)

• Economy and midscale hotels depend on travelers with less money to spend. A weaker U.S. economy can reduce RevPAR, and royalties fall with it.
• Franchisees can fail. Revo Hospitality Group, a large European franchisee, entered insolvency, and Wyndham deferred its fees and removed its rooms from the growth figures. More franchisee failures reduce fees and rooms.
• International RevPAR fell 3% in constant currency in Q3 2026, mainly because RevPAR in China fell 10%. Conflict in the Middle East and price pressure in China can extend the decline.
• Net debt leverage was 3.6 times at September 30, 2026. Higher interest rates increase interest expense, which was $108 million in the first nine months of 2026.

Wyndham funds its business with senior notes, term loans and a revolving credit facility. At September 30, 2026, total debt was $2.73 billion: $1.49 billion of term loan B due May 2030, $641 million of 5.625% senior notes due 2033, $498 million of 4.375% senior notes due 2028, $83 million drawn on the revolving credit facility and $14 million of other debt. Read more

Yield at the current rate

2.1% (current annual rate, at today’s price)

Dividend yield

2.1% (last 12 months, at today’s price of $80.76)

Paid per share

$1.70 in the last 12 months (4 payments)

Current annual rate

$1.72 ($0.43 × 4 a year)

Payout ratio

66% of the last fiscal year’s earnings (the year that ended December 31, 2025)

Latest ex-dividend date

September 15, 2026, $0.43 per share

Dividends per share by year

From 2020 to 2025, the dividend grew by about 24.0% a year.

Source: company filings and market data, read on November 13, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.