Wyndham Hotels & Resorts, Inc. · NYSE:WH
Wyndham Hotels & Resorts — Q3 2025 Earnings Presentation
40 slides from Wyndham Hotels & Resorts's earnings presentation, 2025
Slide 1: Wyndham Hotels & Resorts
WYNDHAM | Es) une Inn re mali by So pepaislisa carro? Au re 3025
Slide 2: Introduction to Wyndham Hotels & Resorts
2 Introduction to Wyndham Hotels & Resorts : Asset-light . . Leading brands F Primarily hotel ness hicor in the resilient epee leisure-focused, + taca) select-service ‘nitt “drive to” portfolio worldwide segment Significant free cash of hotels ~8,300° ~855,000° ~257,000 ~100 Hotels Current Rooms Roo
Slide 3: Laying the Tech Foundation & Harnessing AI
Laying the Tech Foundation & Harnessing Al dy by Design, with | Leading Partners B on a Modern Founda Incremental Bookings, Higher ADR, Lower Operating Costs Industry Leading Al & Technology Partnerships 3 Cost Variable Model 1st major hotel company to adopt cloud-based solution, giving elasticity o
Slide 4: Building the Future of Travel with Innovative Technology
Building the Future of Travel with Innovative Technology Delivering Value for Owners and Elevating Guest Experience OWNER ENGAGEMENT Wyndham Connect Usage US. Hotels Adoption Rate” WYNDHAM ADVANTAGE Wyndham Connect monetizes upsell requests, including early check-in/late check-out, room upgrades and
Slide 5: ETO iit
ETO iit il) Fil. Nitin
Slide 6: Wyndham Grand Udaipur Fateh
Wyndham Grand Udaipur Fateh sao Ry Jig he A ; Udaipur, India 4 ~ 3 WYND Se 6 Opened September 2025 f erg woTEUS oe DRTS.
Slide 7: Third Quarter 2025 Performance Recap
Third Quarter 2025 Performance Recap +4% (5%) Net room Global RevPAR growth YOY vs. 2024 +24% +4% New deals. Global pipeline signed YOY growth YOY $213M $97M $101M Adjusted Free Capital returned to EBITDA® cash flow’ shareholders WYNDHAM
Slide 8: Continued Openings Momentum Drives Strong Organic Net Room Growth and FeePAR Expansion
Continued Openings Momentum Drives Strong Organic Net Room Growth and FeePAR Expansion RECORD GROSS OPENINGS YTD Global Organic Openings 48,500 44,400 39,200 STRONG NET ROOM GROWTH Year-over-Year 4% 4% 3% YTD Q3'23. YTD Q3’24 YTD Q3’25 9/30/23 9/30/24 9/30/25 FEEPAR EXPANSION US. +2% Midscale+ Syste
Slide 9: Pipeline Expanded to Another All-Time High
Pipeline Expanded to Another All-Time High TOTAL PIPELINE @ 9/30/2025 ~257K ~2,180 Global rooms. Global hotels 21st consecutive quarter of sequential growth YOY Growth Global +4% U.S. +4% Sequential Growth Global +70 bps U.S. +90 bps Covers ~62 countries, including 10 without pre-existing WH presenc
Slide 10: Strategic Use of Capital to Drive High-Value Growth
10 Strategic Use of Capital to Drive High-Value Growth SELECTIVE INVESTMENT OF 40% FEEPAR PREMIUM VS. KEY MONEY TO HIGH-QUALITY DEALS PORTFOLIO AVERAGE Key Money Deals FeePAR +40% Only 3 out of every 10 deals include key money Current System Key Money Deals _WYNDHAM_-
Slide 11: Third Quarter U.S. RevPAR Performance Overview
Third Quarter U.S. RevPAR Performance Overview REVPAR DIVERGENCE ACROSS REGIONALLY UNEVEN WITH CHAINSCALES DUE TO MIDWEST STABILITY OFFSET BY RATE RESILIENCE IN HIGHER END SUNBELT SOFTNESS STR YTD U.S. RevPAR Performance by Chainscale Q3 WH U.S. RevPAR Performance by State Year-over-Year Year-over-Y
Slide 12: Maximizing Capital Allocation For All Stakeholders
Maximizing Capital Allocation For All Stakeholders MAINTAIN STRONG BALANCE SHEET ~$540 million of liquidity Total leverage remains at the midpoint of 3-4x stated range Refinanced revolving credit facility in October 2025, increasing capacity from $750 million to $1 billion Weighted average maturity
Slide 13: Expanding Globally in Key Markets
Hourglass Hotel, Trademark Collection by Wyndham Bakersfield, Californiay USA. Opened September 2025 "Wyndham Grand Costa del Sol Lima Airport, Callao, Peru Opened July 2025 Hotel Traveltine pombe Singepo| re, Trademark Collection by Wyndham Singapore, Singapore Opened Séptember 2025 Comwi le Hus Aa
Slide 14: La Quinta by Wyndham
La Quinta by Wyndhan Pte Tia ws . An Istanbul, Turkey z — “WYNDHAM ¢ NDE 4 HOTEUS/@ RESORTS Opened Septembi i B 4 - WA
Slide 15: 2025 Key Priorities
Slide 16: Resilient Model Delivering EBITDA Growth and Shareholder Returns Despite Economic Headwinds
Resilient Model Delivering EBITDA Growth and Shareholder Returns Despite Economic Headwinds 2025 Adjusted EBITDA Outlook Cin millions) 4-5% ~~ Comparable Basis) Scrat i _ $715 - $725 2024@) Operational 2025E Growth Enhancing Shareholder Value Adjusted Free Cash Flow Conversion ~57% Additional Levera
Slide 17: System Projected to Increase 4.0% to 4.6%
System Projected to Increase 4.0% to 4.6% GLOBAL ADDITIONS GLOBAL RETENTION RATE 2024 63,400 2024 ~96% 2025E ~8% Gross Openings 2025E Retention Rate >96%
Slide 18: Updated RevPAR Outlook
Updated RevPAR Outlook REVPAR OUTLOOK BASIS FOR OUTLOOK FY 2025 RevPAR Growth Carmien: Cunrenay » Full-year outlook implies fourth quarter global RevPAR®) between (4%) and (7%) 0% = Our fourth quarter expectation at the midpoint is anchored to third quarter performance both domestically and (1%) int
Slide 19: Why WH Performs
Why WH Per ftens a 6 ] Asset Light & Highly Cash Generative i ei nat Minn iii! 2 Proven Playbook of Leveraging Conversions to Resilient Drive Growth Business Model (itn OLS" Lh = iG Amidst Zz Ancillary Fee Growth Largely Independent of RevPAR Performance BLS 2 oS Ss ee eel 4 RevPAR Outperformance Dr
Slide 20: High-Margin, Low-Risk Model Delivers Strong and Steady Free Cash Flow
High-Margin, Low-Risk Model Delivers Strong and Steady Free Cash Flow Asset-Light Model Fully Franchised, Delivers High Generates Strong, Highly Scalable Model Operating Leverage Recurring Free Cash Flow WYNDHAM mm > QO %, FY 2024 Adjusted Gin millions) _— VYNDHAL sue Sy EBITDA Margin® aH (CHOICE >9
Slide 21: Proven Playbook of Leveraging Conversions to Drive Growth
a Proven Playbook of Leveraging Conversions Global Organic System Growth During GFC Global System Size (3%) 568,000 563,200 550,600 2007 2008 2009 to Drive Growth Ability to Pivot to Conversions Conversion Activity as a Percent of Total Room Openings 89% Standard Level Sept 1 Global COvID 2024 Finan
Slide 22: Ancillary Fee Growth
22 Ancillary Fee Growth Largely Independent of RevPAR Performance Contractual revenue sources offer stability regardless of travel demand GROWTH POISED TO MEANINGFULLY ACCELERATE Mid-teens growth Low-teens growth $276M@ 2024 2025E 2026E RESILIENT GROWTH DRIVERS Co-branded credit card generates reven
Slide 23: Select-Service Hotels Historically Outperform Full-Service Hotels in Economic Downturns
23 Select-Service Hotels Historically Outperform Full-Service Hotels in Economic Downturns SELECT-SERVICE RevPAR GROWTH ADVANTAGES ; Global . v Limited reliance on corporate | 1 Financial Crisis COVID-19© business travel or group business, (19%) discretionary budgets v Minimal exposure to internatio
Slide 24: Appendix
Appendix La Quinta by Wyndham Turpan Gaochang Turpan, China 24 Opened September 2025 ; cis TT = txQUINTA Le | poy = s ei. a Al ‘eal _WYN DHAM —
Slide 25: 2025 Planning - Sensitivities
APPENDIX 2025 Planning - Sensitivities Driver-Based Non-RevPAR Adjusted vs. 2024 Ancillary vs. 2024 EBITDA Sensitivities Royalties & Franchise Fees (millions) Marketing, Reservation & License Other Loyalty Fees Fees Revenues LS: International The impact of changes in RevPAR on our marketing funds do
Slide 26: Leading the Industry with Best-in-Class Profitability and Superior Returns
26 APPENDIX Leading the Industry with Best-in-Class Profitability and Superior Returns WH business operates at WH leads lodging C-Corps best-in-industry margins in capital return j. in@ Total Five-Year Capital Return ear Adj. EBITDA Margin® as 6 oF Market Capo 1% 30% 25% = 25% — 24% = 24% a9 51% MAN
Slide 27: Compelling Value Proposition for Franchisees
APPENDIX Compelling Value Proposition for Franchisees... Industry-leading central reservation systems deliver ~$8 out of every $10 to U.S. franchisees Industry’s #1 hotel loyalty program with ~121 million members drive > one out of every two U.S. check-ins Global marketing funds and customer data pl
Slide 28: ... That Continues to Deliver Strong Returns
28 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 29: "Drive to" Destinations Not Reliant on Costly Air Travel or International Inbounds
APPENDIX “Drive to” Destinations Not Reliant on Costly Air Travel or International Inbounds 87% U.S. HOTELS IN “DRIVE TO” LOCATIONS Suburban Interstate Small Metro Airport Urban Resorts 29 | See footnotes in Appendix. 34% 27% 87% 97% OF U.S. GUESTS ORIGINATE DOMESTICALLY Latin America | 1% Asia Paci
Slide 30: 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 U.S. Household Income First Second Third Fourth Fifth Quintile Quintile Quintile Quintile Quintile $33,000- $62,000 - <$33,000 "671000 —_—-101,000 WH guest average household income of $104K 30 | See
Slide 31: Leisure Guests Power Our Business, Essential Workers Provide a Durable Base
3 APPENDIX Leisure Guests Power Our Business, Essential Workers Provide a Durable Base ~70% LEISURE FOCUS; ~20% INFRASTRUCTURE 0 I 7: Infrastructure PF 22% Logisti casey ex Corporate 9, Transient | Group Business <1% Represents percentage of U.S. gross room revenues for full-year 2024. _WYNDHAM | HO
Slide 32: Infrastructure Tailwinds Support Long-Term Growth Opportunity
32 APPENDIX Infrastructure Tailwinds Support Long-Term Growth Opportunity TAPPING INTO THE U.S. REINDUSTRIALIZATION TREND 22% of WH U.S. bookings derived from infrastructure-related business In 2019, the federal government spent $71 billion on infrastructure; the 2021 Infrastructure Act & 2022 CHIPS
Slide 33: Corporate Responsibility Q3 2025 Highlights
APPENDIX Corporate Responsibility QS 2025 Highlights A dozen team members accompanied > 50 U.S. Veterans on the 69t Honor Flight to Washington, D.C. in September to visit the WWII, Vietnam, Korea, and Lincoln Memorials, witness the Changing of the Guard at Arlington Cemetery, and honor our heroes at
Slide 34: Strong and Experienced Leadership Team
34 APPENDIX Strong and Experienced Leadership Team + Served as President and Chief Executive Officer of + Served as Executive Vice President and Treasurer of Wyndham Hotel Group (2014 - 2018) Wyndham Hotels & Resorts (2018 - 2019) + Served as Chief Executive Officer of Wyndham Destination + Served a
Slide 35: Wyndham Family of Brands
APPENDIX Wyndham Family of Brands Wherever people go, Wyndham will be there to welcome them. EXTENDED STAY ECONOMY MIDSCALE UPPER MIDSCALE UPSCALE UPPER UPSCALE 5 te ECHOSU micROTEL RA woos WYNDHAM WYNDHAM GRAND ia = HaMnagre chain encore DAZZLER We. Wine esp lerrelor. _— woke WYNDHAM dloward Johnso
Slide 36: Footnotes
Page 3 Page 25 RPI growth represents Q325 vs. Q319, system growth represents 9/30/25 vs. 9/30/19 and retention rate improvement represents FY 2024 vs. FY 2019. 2019 Does not include potential bad debt impacts from uncollectible accounts, if any, in the event of a distressed environment, which cannot
Slide 37: Non-GAAP Reconciliations
37 Non-GAAP Reconciliations APPENDIX 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 over
Slide 38: Non-GAAP Reconciliations: Cash Flow
38 Cash Flow: Net cash provided by operating activities Net cash used in investing activities Nel cash used in financing activities Fffect of changes in exchange rates an cash, cash equivalents and restricted cash Net decrease in cash, cash equivalents and restricted Net cash provided by operating a
Slide 39: Definitions
39 APPENDIX Definitions Adjusted EBITDA: Represents net income excluding net interest expense, depreciation and amortization, early extinguishment of debt charges, impairment charges, restructuring and related charges, contract termination costs, separation-related items, transaction-related Items (
Slide 40: 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
Wyndham Hotels & Resorts — Q3 2025 Earnings Presentation on 6ix