Q4 2025 Wyndham Hotels & Resorts Inc Earnings Call Transcript
Key Points
- Wyndham Hotels & Resorts Inc (WH) achieved a record net room growth of 4% in 2025, with 72,000 new rooms opened, marking the largest number of organic room additions in the company's history.
- The company signed 870 deals, an 18% increase from 2024, expanding its global development pipeline by 3% to nearly 260,000 rooms and more than 2,200 hotels.
- Wyndham's highly cash generative business model produced $433 million in adjusted free cash flow, allowing the company to return $393 million to shareholders.
- The Wyndham Rewards program continues to be a strong asset, with membership enrollments growing 13% in Q4 and direct occupancy reaching a record 54% domestically.
- Internationally, Wyndham increased net rooms by 9%, with significant growth in regions like Southeast Asia and the Pacific Rim, where net rooms grew by 11%.
- Fourth quarter global revPAR declined 6% in constant currency, with domestic revPAR down about 6 points, excluding hurricane impacts in 2024.
- The company faced continued softness in its three largest states, Texas, California, and Florida, which account for a quarter of its US room count, with a decline of 11% excluding hurricane impacts.
- Wyndham recorded non-cash charges related to the insolvency filings of a large European franchisee, Revo Hospitality Group, impacting the value of its security and expected recovery.
- Performance in Asia lagged behind other international regions, with Southeast Asia and the Pacific Rim down 2% and China down 10% due to continued ADR declines in their deflationary economy.
- The company anticipates headwinds in the first quarter of 2026 due to the termination of approximately 3,000 legacy affiliated rooms, impacting net room growth timing.
Good morning, everyone. Welcome to the Wyndham Hotels and Resorts fourth-quarter and full-year 2025 earnings conference call. (Operator Instructions)
I would now like to turn the call over to Mr. Matt Capuzzi, Senior Vice President, Investor Relations. Please go ahead, sir.
Thank you, operator. Good morning and thank you for joining us. With me today are Jeff Bellotti, our CEO, and Kurt Albert, our interim CFO.
Before we get started, I want to remind you that our remarks today will contain forward-looking statements. These statements are subject to risk factors that may cause our actual results to differ materially from those expressed or implied.
These risk factors are discussed in detail in our most recent annual report on Form 10k filed with the Securities and Exchange Commission and any subsequent reports filed with the SEC.
We'll also be referring to a number of non-GAAP measures. Corresponding GAAP measures and a reconciliation
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