Companies · WH
Wyndham Hotels
AI-generated · informational only · not investment advice · verify before relying.
Latest analysis
Updated Oct 22, 2026
Wyndham Q3 2026: U.S. RevPAR +6% drives revenue growth despite Revo insolvency drag and international softness
Wyndham delivered Q3 2026 net revenues of $410 million, up 7% year-over-year, on the back of 6% U.S. RevPAR growth and 3% global system size expansion, but hotel franchising adjusted EBITDA was essentially flat at $229 million as marketing spend timing and normalized G&A costs absorbed the revenue upside. The Revo European franchisee insolvency remains the defining overhang: royalty deferrals suppressed international and global average royalty rates, Wyndham foreclosed on two European hotels, and the adjudication process is expected to span years. International RevPAR declined 3% on a currency-neutral basis, dragged by a 10% drop in China and Middle East geopolitical softness, leaving global RevPAR growth at just 2% for the quarter.
Tone: mixedRevenue
$1.4B
WH 10-K · FY 2025
Employees
2,000
Revenue FY2024
$1.4B
Founded
1990
Profile
WH 10-K Item 1 · Feb 19, 2026Wyndham Hotels & Resorts is the world's largest hotel franchising company by number of franchised properties, operating 25 brands across approximately 100 countries under an asset-light, fee-based franchise model. The company targets economy, midscale, and upper midscale chain scales, with approximately 80% of the U.S. population living within ten miles of at least one affiliated hotel. Revenue is principally derived from royalty fees and marketing and reservation fees charged to over 6,200 franchisees globally.
Read filing description ↓ Collapse description ↑
Wyndham Hotels & Resorts, Inc. is the world's largest hotel franchising company by number of franchised properties, with over 8,300 affiliated hotels and approximately 869,000 rooms located in approximately 100 countries and welcoming approximately 138 million guests annually worldwide. We operate a hotel portfolio of 25 brands. Our 25 brands are primarily located in secondary and tertiary cities and approximately 80% of the U.S. population lives within ten miles of at least one of our affiliated hotels. Our mission is to make hotel travel possible for all. We boast a remarkably asset-light business model dramatically limiting our capital needs. Our widely recognized brands with select-service focus offer a breadth of options for franchisees and a wide range of price points and experiences for our guests. We are a global leader in the economy, midscale and upper midscale chain scales where our brands represent approximately 19% of branded rooms in the United States. We license our brands and associated trademarks to over 6,200 franchisees globally, which provides for a highly diversified owner base with limited concentration. Our franchisees range from sole proprietors to institutional investors such as public real estate investment trusts. Our franchise agreements are typically 10 to 20 years in length, providing significant visibility into future cash flows. Under these agreements, our direct franchisees generally pay us a royalty fee of approximately 5% of gross room revenue and a marketing and reservation fee of 2% to 4% of gross room revenue.
Primary products
- Super 8
- Days Inn
- Travelodge
- Microtel
- Howard Johnson
- Dazzler Select
Business segments
End markets
Geographies
“We are a global leader in the economy, midscale and upper midscale chain scales where our brands represent approximately 19% of branded rooms in the United States.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Net revenues increased from $1,408 million in 2024 to $1,429 million in 2025, driven by growth in fee-related and other revenues, while cost reimbursement revenues declined to zero.
The rest of WH is for subscribers
Analysis, signals, diligence answers, M&A activity and every quote, each citing the filing it came from.