Wyndham International (AMEX:WBR) announced a clarification to a press announcement yesterday from Hospitality Properties Trust (HPT). Wyndham`s current liquidity remains strong at approximately $272 million, up from $256 million of liquidity on Dec. 31, 2002.
“Wyndham has ample liquidity. Even in a difficult environment, Wyndham is generating positive cash flow and continues to grow market share for the proprietary Wyndham brand,” stated Wyndham International Executive Vice President and Chief Financial Officer Rick Smith. He added, “The two Wyndham subsidiaries` actions with regard to approximately $3.6 million in rent to HPT were purely commercial decisions of the two subsidiaries and not related to Wyndham`s overall liquidity.”
Wyndham International, Inc. offers upscale and luxury hotel and resort accommodations through proprietary lodging brands and a management services division. Based in Dallas, Wyndham International owns, leases, manages and franchises hotels and resorts in the United States, Canada, Mexico, the Caribbean and Europe. For more information, visit www.wyndham.com. For reservations, call 800-WYNDHAM.