Wyndham Hotels & Resorts, Inc. · NYSE:WH
Wyndham Hotels & Resorts — Q1 2026 Earnings Presentation
36 slides from Wyndham Hotels & Resorts's earnings presentation, Apr 30, 2026
Slide 1: Investor Presentation
Investor Presentation April 29, 2026 Dolce by Wyndham Miami, Florida, USA Opened March 2026
Slide 2: Introduction to Wyndham Hotels & Resorts
Introduction to Wyndham Hotels & Resorts Asset-light Leading brands Primarily One of the largest business model in the resilient leisure-focused, hotel franchisors generating select-service “drive to” portfolio worldwide significant free cash segment of hotels flow ~8,400 ~869,000 259,000+ ~100 Hote
Slide 3: Best-In-Class Tech Foundation Harnessing AI
Best-In-Class Tech Foundation Harnessing AI… AI-Ready by Design, with Industry-Leading Partners Built on a Modern Foundation Industry Lower Operating Leading AI & Costs, Higher Ancillary Technology Revenues, Direct Partnerships Bookings Capture Cloud Optimized Wyndham Commercial Agentic Proven AI Gu
Slide 4: …And Powering Owner Returns
…And Powering Owner Returns Creating Value Through Lower Customer Acquisition Costs and Elevated Guest Experience WYNDHAM ADVANTAGE Wyndham Connect helping 5,000+ hotels globally lower owners’ labor costs while collectively driving millions in incremental guest revenue through early Wyndham Garden c
Slide 5: $450M+ Technology Investment Fueling Wyndham's AI Innovation
$450M+ Technology Investment Fueling Wyndham’s AI Innovation Enabling New AI Booking Paths Wyndham App V2.0 is live for Wyndham App V1.0 is live in OpenAI Wyndham Agent in Google AI Mode, Anthropic Claude’s ~30M subscribers. ChatGPT, bringing Wyndham inventory continues to make strong progress, soon
Slide 6: Leading the Industry with Best-in-Class Profitability and Superior Returns
Leading the Industry with Best-in-Class Profitability and Superior Returns BEST-IN-INDUSTRY LEADING LODGING C-CORPS MARGINS IN CAPITAL RETURN Adj. EBITDA Margin(a) Total Five-Year Capital Return 83% as % of Market Cap(b) 77% 75% 64% 37% 54% 36% 34% 34% 32% 33% 26% FREE CASH FLOW YIELD EXCEEDS PEERS
Slide 7: WH Investment Thesis
WH Investment Thesis ASSET-LIGHT, HIGHLY-RESILIENT, FEE-BASED FRANCHISE BUSINESS MODEL GENERATING HIGH MARGINS AND PRODIGIOUS FREE CASH FLOW THE ISO HOTEL, Trademark Collection by Wyndham Kapaa, Hawaii, USA 7 Opened January 2026
Slide 8: Q1 2026 Performance Recap
Q1 2026 Performance Recap ECHO Suites Extended Stay by Wyndham Colorado Springs Airport Colorado Springs, Colorado, USA 8 Opened February 2026
Slide 9: First Quarter 2026 Performance Recap
First Quarter 2026 Performance Recap 4% (1%) 0% Net room Global RevPAR U.S. RevPAR growth YOY vs. 2025(a) vs. 2025 compared to (2%) – (3%) expectations +8% +3% New deals Global pipeline signed in U.S. YOY growth YOY $156M $64M $85M Adjusted Free Capital returned to EBITDA(b) cash flow(c) shareholder
Slide 10: Pipeline Expansion Continues
Pipeline Expansion Continues TOTAL PIPELINE @ 3/31/2026 GLOBAL COMPOSITION SEGMENT MIX Pipeline as a +4% % of current 13% 17% 22% YOY midscale+ ~259K >2,200 43% portfolio: growth(a) 30% Global rooms Global hotels 57% U.S. Economy Brands 78% Midscale+ Brands International 70% Midscale+ Economy Brands
Slide 11: Continued Openings Momentum Focused on Midscale+ and FeePAR Expansion
Continued Openings Momentum Focused on Midscale+ and FeePAR Expansion CONTINUED LEVELS OF INCREASINGLY MIDSCALE+ FEEPAR RECORD OPENINGS PIPELINE EXPANSION Gross Room Openings Midscale+ Pipeline Rooms(a) 14.2K 14.2K 181K +5% +9% Midscale+ EMEA/LATAM 174K YOY System YOY System Growth Growth 166K 12.4K
Slide 12: RevPAR Recovery Driven by Occupancy Improvement
RevPAR Recovery Driven by Occupancy Improvement ~350 bps sequential improvement in normalized occupancy driven by ~600 bps improvement in most concentrated states (TX/FL/CA) U.S. RevPAR (Normalized) 1.0% 0.7% 0.5% 0.2% 0.1% (0.1%) (0.4%) (2.3%) (2.3%) (2.6%) (2.8%) (3.0%) (3.6%) (5.0%) (6.1%) Q1 25
Slide 13: Expanding Globally in Key Markets
La Quinta Inn & Suites by Wyndham Hawthorn Extended Stay by Wyndham Wyndham Garden Manila Bay, Philippines V Capri Palm Springs, a Dolce by Wyndham Ramada Plaza by Wyndham Tashkent Leavenworth, Washington, USA Parañaque, Philippines Palm Springs, California, USA Tashkent, Uzbekistan Opened January 2
Slide 14: Maximizing Capital Allocation For All Stakeholders
Maximizing Capital Allocation For All Stakeholders MAINTAIN STRONG RETURN EXCESS CAPITAL BALANCE SHEET INVEST IN BUSINESS TO SHAREHOLDERS ~$1.1 billion of liquidity Strategic deployment of capital to accelerate Targeting mid-30s dividend payout ratio growth primarily in higher RevPAR, Total leverage
Slide 15: 2026 Focus
2026 Focus BUILDING BLOCKS IN PLACE TO MAXIMIZE NEAR-TERM GROWTH Royal Decameron Salinitas, A Trademark All Inclusive Sonsonate, El Salvador 15 Opened March 2026
Slide 16: 2026 Key Priorities
2026 Key Priorities Grow system-wide rooms Continue to establish a market-leading 4.0%-4.5% position in the extended stay segment Continued investment in brands Capture ancillary revenue growth opportunities, targeting high FeePAR additions including credit card products and strategic partnerships a
Slide 17: Global RevPAR Outlook Raised to (1%) - 1%
Global RevPAR Outlook Raised to (1%) - 1% Driven by Strong Q1 U.S. RevPAR Recovery Q1 26 U.S. REVPAR GREW ~250 BPS ABOVE …WITH KEY DEMAND DRIVERS FOR MIDPOINT OF (3%) – (2%) EXPECTATIONS… POTENTIAL FURTHER OUTPERFORMANCE U.S. RevPAR (Normalized) Continued public/private sector investment in infras
Slide 18: System Projected to Increase 4.0% - 4.5%
System Projected to Increase 4.0% - 4.5% SUSTAINED …PROVIDES RUNWAY TO PIPELINE GROWTH… FURTHER SYSTEM EXPANSION Global Pipeline Global System 4.0% - 4.5% 258,700 868,900 251,500 835,700 239,500 803,700 2023 2024 2025 2023 2024 2025 2026E 18
Slide 19: Ancillary Fee Growth Largely Independent of RevPAR Performance
Ancillary Fee Growth Largely Independent of RevPAR Performance Contractual revenue sources offer stability regardless of travel demand SIGNIFICANT GROWTH …DRIVEN BY INCREMENTAL POISED TO CONTINUE… GROWTH OPPORTUNITIES Co-branded credit card generating +15% Low-to revenue from all cardholder spend
Slide 20: Resilient Model Delivering EBITDA Growth and Shareholder Returns
Resilient Model Delivering EBITDA Growth and Shareholder Returns Despite Economic Headwinds 2026 Adjusted EBITDA Outlook Enhancing Shareholder Value (in millions) ~5-7% Free Cash Flow Conversion Growth(b) 55%-60% $39 - $54 (~$15) (~$12) $730 - $745 Leverage on Incremental $718 Adjusted EBITDA Growth
Slide 21: Appendix
Appendix Wyndham Grand Tengchong Hot Spring Tengchong, China 21 Opened January 2026
Slide 22: 2026 Planning - Sensitivities
APPENDIX 2026 Planning - Sensitivities Driver-Based Non-RevPAR Adjusted vs. 2025 Ancillary vs. 2025 EBITDA Sensitivities Royalties & Franchise Fees (millions) Marketing, Reservation & License Other Loyalty Fees Fees Revenues U.S. International RevPAR & NRG (1 point) ~$3.2 ~$1.0 Based on our FY26 Rev
Slide 23: Compelling Value Proposition for Franchisees
APPENDIX Compelling Value Proposition for Franchisees . . . Industry-leading central reservation One of the world’s largest hotel franchisors systems deliver ~$8 out of every $10 leverages pricing power to deliver on- to U.S. franchisees property cost savings for owners Industry’s #1 hotel loyalty p
Slide 24: That Continues to Deliver Strong Returns
APPENDIX . . . That Continues to Deliver Strong Returns Cost per room ~$93,000 Loan-to-value ~70% Franchisee Investment $3,500,000 RevPAR $60.00 Revenues $2,716,000 Operating expenses $815,000 Brand fees $231,000 Interest expense @ 7.25% $585,000 Hotel EBTDA ~$1,100,000 Cash-on-Cash Return up to 31%
Slide 25: Drive to Destinations Not Reliant on Costly Air Travel
APPENDIX “Drive to” Destinations Not Reliant on Costly Air Travel or International Inbounds 87% U.S. HOTELS 97% OF U.S. GUESTS IN “DRIVE TO” LOCATIONS ORIGINATE DOMESTICALLY Suburban 35% U.S. 97% Interstate 27% 87% Europe 1% Small Metro 25% Canada 1% Airport 5% Latin America 1% Urban 5% Resorts 3% A
Slide 26: Our U.S. Guests are Middle-Class and Increasingly Younger Generations
APPENDIX Our U.S. Guests are Middle-Class and Increasingly Younger Generations That Prioritize Travel GEN Y/Z GUESTS U.S. Household Income AS % OF TOTAL First Second Third Fourth Fifth Quintile Quintile Quintile Quintile Quintile 34% $34,000 $64,000 $102,000 <$34,000 >$164,000 - 64,000 - 102,000 - 1
Slide 27: Leisure Guests Power Our Business, Essential Workers Provide a Durable Base
APPENDIX Leisure Guests Power Our Business, Essential Workers Provide a Durable Base ~70% LEISURE FOCUS; ~20% INFRASTRUCTURE Leisure Travel 70% Infrastructure 20% Logistics/ Other 8% Corporate Transient 2% Group Business <1% Represents percentage of U.S. gross room revenues for full-year 2025. 27
Slide 28: Infrastructure Tailwinds Support Long-Term Growth Opportunity
APPENDIX Infrastructure Tailwinds Support Long-Term Growth Opportunity TAPPING INTO THE U.S. STRONG OVERLAP OF WH FOOTPRINT REINDUSTRIALIZATION TREND AND INFRASTRUCTURE SPEND MARKETS 20% of WH U.S. bookings derived from infrastructure-related business In 2019, the federal government spent $71 bi
Slide 29: Q1 2026 Corporate Responsibility Update
APPENDIX Q1 2026 Corporate Responsibility Update In recognition of National Human Trafficking Awareness Day and National Human Trafficking Prevention Month, team members wore blue to show solidarity of survivors and to raise awareness. Wyndham hosted a live human trafficking prevention training
Slide 30: Strong and Experienced Leadership Team
Strong and Experienced Leadership Team • Served as President and Chief Executive Officer of • Chief Financial Officer since March 2026 Wyndham Hotel Group (2014 – 2018) • Served as Chief Development Officer – North America of • Served as Chief Executive Officer of Wyndham Destination Wyndham Hotels
Slide 31: Wyndham Family of Brands
APPENDIX Wyndham Family of Brands Wherever people go, Wyndham will be there to welcome them. 31 Vienna House brand acquisition also included Vienna House Easy midscale brand; Dazzler brand includes extension Dazzler Select in the economy segment.
Slide 32: Footnotes
APPENDIX Footnotes Page 2 Page 14 Data is approximated as of 3/31/26. Maturity schedule as of 3/31/26. Key money stats for FY 2025. (a) Based on 2024 and 2025 actual adjusted net income and annualized $0.38 for 2024 and $0.41 for 2025 per share quarterly dividend. Page 6 (b) Based on 2026 estimated
Slide 33: Non-GAAP Reconciliations
APPENDIX Non-GAAP Reconciliations The following tables reconcile certain non-GAAP financial measures. The presentation of these adjustments is intended to permit the comparison of particular adjustments as they appear in the income statement in order to assist investors’ understanding of the overall
Slide 34: Non-GAAP Reconciliations
APPENDIX Non-GAAP Reconciliations The following table reconciles certain non-GAAP financial measures. We believe free cash flow to be a useful operating performance measure to us and investors. This measure helps us and investors evaluate our ability to generate cash beyond what is needed to fund ca
Slide 35: Definitions
APPENDIX Definitions Adjusted EBITDA: Represents net income excluding net interest expense, depreciation and amortization, early extinguishment of debt charges, impairment and other-related charges (including Revo-related charges), restructuring and other-related charges, contract termination costs,
Slide 36: Disclaimer
APPENDIX Disclaimer Disclaimer: This presentation and the information contained herein are solely for informational purposes. The information contained in this presentation, including the forward-looking statements herein, is provided as of the date of this presentation and may change materially in
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