Wyndham Worldwide records strong third quarter as demand returns

27th Oct 2011
Wyndham Worldwide records strong third quarter as demand returns

Wyndham Worldwide has recorded a 12 per cent increase in profits for the third quarter of financial 2011 based on an increase in demand for its hotel rooms.

A strong performance in the timeshare division saw Wyndham record a net profit of $175 million for the quarter.

Lodging revenue at Wyndham – which counts Days Inn, Knights Inn, Ramada, Super 8, and Travelodge among its brands – rose nine per cent on a year earlier.

Revenue per available room, RevPAR, factoring out exchange-rate changes, rose 4.8 per cent.

Earnings from the timeshare unit surged 30 per cent on a combination of higher sales and favourable currency changes.

Wyndham Worldwide operates about 611,000 rooms.

“I am pleased once again with our strong results, which reflect outstanding operating performance and the resiliency of our businesses,” said Stephen Holmes, chairman and chief executive, Wyndham Worldwide.

“In addition, we continued to thoughtfully deploy our free cash flow to repurchase our common shares and invest in our company.”


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