Wyndham Hotels & Resorts reveals third quarter 2019 results
Group’s net revenue increased 4%
Hospitality group Wyndham Hotels & Resorts revealed the financial results for the Q3 of 2019.
According to data revealed, the group’s net revenue increased 4% to $1,105 million, while net income from continuing operations increased 3% to $135 million ($1.47 diluted EPS).
The net cash provided by operating activities from continuing operations year-to-date increased 57% to $321 million and adjusted free cash flow increased 31% to $466 million.
Michael D. Brown, president and CEO of Wyndham Destinations, commented, "Our company reported strong quarterly results and increased our guidance for adjusted diluted EPS. We are continuing to see an expansion of Blue Thread sales and robust gross VOI sales, which increased 4% in the quarter. We remain committed to generating strong free cash flows and year-to-date we have returned $371 million of capital to shareholders in the form of dividends and share repurchases.
"We recently completed two key transactions — the sale of Wyndham Vacation Rentals to Vacasa for $162 million and the acquisition by RCI of Alliance Reservations Network for $102 million. These transactions were important milestones for RCI and Wyndham Destinations as we focus on our core business and continue to execute on our key strategic objectives," said Brown.