Wyndham Hotels & Resorts posts 15.6% decrease in net revenue in Q1
05/02/2023|3:55:33 PM|ChinaTravelNews

Wyndham Hotels & Resorts said its global RevPAR grew 12% in the first quarter this year compared to first quarter 2022.

System-wide rooms grew 4% year-over-year, including 1% of growth in the U.S. and 9% of growth internationally.

The world’s largest hotel franchisor registered 10% growth in its direct franchising business in China.

Development pipeline grew 11% year-over-year to 226,000 rooms, and signings increased 7%, excluding ECHO Suites Extended Stay by Wyndham.

The company said it remains solidly on track to achieve its net room growth outlook of 2 to 4% for the full year 2023, including an increase in its retention rate compared to 2022.