Wyndham Hotels & Resorts, Inc. announced that its Board of Directors approved the resumption of the Company’s share repurchase program, which has $191 million available under its current authorization for repurchase.
“Resuming our share repurchase program reflects the Board’s continued confidence in our ability to generate significant cash flow and the resiliency of our business model, which continues to lead the industry’s recovery and positions us to emerge from the pandemic stronger than before,” said Geoffrey A. Ballotti, president and chief executive officer.
The amount and timing of specific repurchases are subject to market conditions, applicable legal requirements and other factors. Repurchases may be conducted through a variety of methods, including open market purchases or in privately negotiated transactions. The Company’s share repurchase program has no termination date and may be suspended or discontinued at any time.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts is the world’s largest hotel franchising company by the number of properties, with approximately 9,000 hotels across nearly 95 countries on six continents. Through its network of approximately 798,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 21 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services. The Company’s award-winning Wyndham Rewards loyalty program offers 89 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com. The Company may use its website as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Disclosures of this nature will be included on the Company’s website in the Investors section, which can currently be accessed at www.investor.wyndhamhotels.com. Accordingly, investors should monitor this section of the Company’s website in addition to following the Company’s press releases, filings submitted with the Securities and Exchange Commission and any public conference calls or webcasts.
Senior Vice President, Investor Relations