Wyndham reported its second-quarter numbers today and reported that it generated net income of $92 million and adjusted net income of $99 million, an increase of $24 million over the same time a year ago.
During the earnings call Wednesday morning, CFO Michele Allen said the company’s global revenue per available room surpassed 2019 levels for the first time during the quarter, and average daily rate in all regions also exceeded 2019’s numbers. Global ADR for the quarter was up 117 percent year over year, but overall global occupancy was still only at 88 percent of 2019 levels, which Allen said illustrated “room for continued demand recovery.”
The company is maintaining its goal of achieving a retention rate above 95 percent and its net room growth outlook of 2 to 4 percent for the full year 2022.
Read original article