WYNDHAM HOTELS & RESORTS, INC. recently released its 10-Q report. Wyndham is a hotel franchisor headquartered in Parsippany, New Jersey, with about 8,300 hotels in roughly 100 countries across six continents. Its portfolio includes 25 brands, among them Super 8, Days Inn, Ramada, Microtel, La Quinta, Baymont, Wingate, AmericInn, ECHO Suites, Registry Collection Hotels, Trademark Collection and Wyndham.
In Item 2, management said Wyndham’s primary business remains hotel franchising, with royalties, franchise fees, management fees, trademark licensing fees and related service revenues driving results. The company also said it earns marketing, reservation and loyalty fee revenues, plus reimbursement revenues that are offset by the related costs it incurs. Wyndham defined its key operating measures as Hotel Franchising adjusted EBITDA, Corporate adjusted EBITDA and consolidated adjusted EBITDA, excluding items such as interest, depreciation and amortization, taxes, stock-based compensation, restructuring, transaction-related items and certain other charges.
Wyndham reported 873,400 total rooms as of June 30, 2026, up 3% from 846,700 a year earlier. Excluding Revo-related rooms, system size was 853,600, up 4% year over year. U.S. rooms were 501,100, essentially flat from 503,300, while international rooms rose 8% to 372,300 from 343,400.
For the second quarter, global RevPAR was $47.01, down 1% from $47.55 a year earlier. U.S. RevPAR increased 2% to $54.50 from $53.32, while international RevPAR fell 5% to $37.31 from $39.45. On a constant-currency basis, Wyndham said international RevPAR declined 6% in the quarter and global RevPAR was down 1%.
Average royalty rate held at 4.0% globally in the quarter, compared with 4.0% a year earlier. In the U.S., the rate ticked up to 4.8% from 4.7%; internationally, it fell to 2.4% from 2.6%.
For the first six months, global RevPAR was $42.79, down 1% from $43.03. U.S. RevPAR rose 1% to $48.39, while international RevPAR decreased 2% to $35.51. Excluding currency effects, Wyndham said international RevPAR declined 4% and global RevPAR declined 1%.
Second-quarter net revenues were $375 million, down $22 million, or 6%, from $397 million. Wyndham said the decline was driven mainly by $20 million less in marketing, reservation and loyalty revenues because 2025 included pass-through revenues tied to its global franchisee conference, and by $8 million lower royalty and franchise fees due to lower franchise fees and the deferral of fees from Revo. Those declines were partly offset by $3 million more in ancillary revenues from the co-branded credit card program and $3 million more in management and other fees, including revenue from two owned hotels taken over in connection with the Revo insolvency.
Total expenses fell to $201 million from $247 million, a drop of $46 million, or 19%. Marketing, reservation and loyalty expense declined $31 million to $131 million, restructuring costs fell $8 million, and operating and general and administrative expenses dropped $6 million, helped by insurance recoveries and timing of variable costs, though owned hotel expenses increased in 2026.
Operating income rose to $174 million from $150 million. Interest expense, net increased to $36 million from $34 million, while income before taxes climbed to $138 million from $116 million. The effective tax rate was 26.1%, up from 25.0%. Net income increased 17% to $102 million from $87 million.
Wyndham also said marketing, reservation and loyalty revenues of $145 million exceeded related expenses of $131 million in the quarter, producing a $14 million margin, compared with a $3 million margin a year earlier. Today the company's shares have moved -3.94% to a price of $72.70. If you want to know more, read the company's complete 10-Q report here.
