Wyndham Sees 40% Plunge in Q3 Revenue and Net Income

By Paul Riegler on 29 October 2020
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Lobby of the New Yorker Hotel in Manhattan, a Wyndham property

Wyndham Worldwide, the world’s largest hotel chain, announced financial results for third quarter of 2020.

The company reported revenue of $337 million, down almost 40% from $560 million in the same period in 2019, citing the “continued uncertainty” amidst the coronavirus pandemic.

Net income was $27 million in the quarter, compared to $45 million, a 40% decline.

“Our teams continued sharp execution against our strategic and operating plans, allowed us to produce solid results in the third quarter,” said the chain’s CEO, Geoff Ballotti, on an earnings call.  “It was a difficult late August and early September for economy and mid-scale hotels,” he said later in the course of the call.

Wyndham reported that membership in its Wyndham Rewards guest-loyalty program increased by 34% in the quarter.

(Photo: Accura Media Group)

Accura News

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