Wyndham Hotels and Resorts Reports Fourth Quarter Results

Wyndham Hotels & Resorts announced results for the three months and year ended December 31, 2025.

System Growth:
- 4% global net room growth (record 72,000 rooms opened).
- Development pipeline at a record 259,000 rooms across ~2,200 hotels.
- 70% of pipeline in midscale and above; 17% in extended stay.

Financials (Full-Year 2025):
- Adjusted EBITDA: $718M (+3% YoY).
- Adjusted net income: $353M (+2% YoY).
- Adjusted diluted EPS: $4.58 (+6% YoY).
- Net income fell 33% to $193M due to impairment charges.
- Net cash from operations: $367M; free cash flow: $433M.

Shareholder Returns:
- $393M returned via share repurchases ($266M) and dividends ($127M).
- Quarterly dividend increased 5% to $0.43/share starting Q1 2026.

RevPAR Pressure:
- Q4 global RevPAR down 6% (U.S. -8%, international -1%).
- Full-year RevPAR down 3% (U.S. -4%, international flat).
- Weakness in Asia Pacific (China -10%) offset by strength in EMEA (+7%) and Latin America (+6%).

Impairments:
- $74M operating expense and $48M impairment tied to Revo Hospitality Group insolvency.
- $38M impairment on Vienna House trademark and franchise agreements.

Strategic Outlook for 2026
- Expect marketing fund revenues to balance expenses.
- Focus on stabilizing U.S. RevPAR while leveraging growth in EMEA and Latin America.
- Continued emphasis on midscale, extended stay, and new construction projects.
- Confidence in long-term strategy despite near-term headwinds.

This paints a picture of resilient growth despite U.S. softness and impairment charges. Wyndham is leaning on international markets and pipeline expansion to offset domestic challenges, while still rewarding shareholders with dividends and buybacks.