Wyndham Hotels & Resorts (WH)
Market Price (4/23/2026): $85.255 | Market Cap: $6.5 BilSector: Consumer Discretionary | Industry: Hotels, Resorts & Cruise Lines
Wyndham Hotels & Resorts (WH)
Market Price (4/23/2026): $85.255Market Cap: $6.5 BilSector: Consumer DiscretionaryIndustry: Hotels, Resorts & Cruise Lines
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 36% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 22% Low stock price volatilityVol 12M is 29% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include Travel & Leisure Tech, Show more. | Weak multi-year price returns2Y Excs Rtn is -15%, 3Y Excs Rtn is -39% | Expensive valuation multiplesP/SPrice/Sales ratio is 4.5x Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.5%, Rev Chg QQuarterly Revenue Change % is -2.1% Key risksWH key risks include [1] increased leverage with a net debt ratio of 3.5 times and [2] significant high-coupon debt due in 2027 that may require refinancing. |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 36% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 22% |
| Low stock price volatilityVol 12M is 29% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include Travel & Leisure Tech, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -15%, 3Y Excs Rtn is -39% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 4.5x |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.5%, Rev Chg QQuarterly Revenue Change % is -2.1% |
| Key risksWH key risks include [1] increased leverage with a net debt ratio of 3.5 times and [2] significant high-coupon debt due in 2027 that may require refinancing. |
Qualitative Assessment
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Wyndham Hotels & Resorts (WH) stock has gained about 15% since 12/31/2025 because of the following key factors:
1. Wyndham Hotels & Resorts exceeded adjusted earnings expectations for Q4 2025 and increased its quarterly dividend. The company reported adjusted diluted earnings per share (EPS) of $0.93, surpassing the consensus analyst estimates which ranged from $0.89 to $0.92 per share. Additionally, the Board of Directors authorized a 5% increase in the quarterly cash dividend to $0.43 per share, commencing in Q1 2026, demonstrating confidence in future financial performance.
2. The company showcased robust development and significant system-wide room growth in 2025, indicating future revenue potential. For the full year 2025, Wyndham Hotels & Resorts achieved 4% year-over-year growth in system-wide rooms and expanded its global development pipeline by 3% to a record 259,000 rooms. Furthermore, the company awarded a record 870 development contracts globally in 2025, marking an 18% increase from the previous year.
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1. Wyndham Hotels & Resorts exceeded adjusted earnings expectations for Q4 2025 and increased its quarterly dividend. The company reported adjusted diluted earnings per share (EPS) of $0.93, surpassing the consensus analyst estimates which ranged from $0.89 to $0.92 per share. Additionally, the Board of Directors authorized a 5% increase in the quarterly cash dividend to $0.43 per share, commencing in Q1 2026, demonstrating confidence in future financial performance.
2. The company showcased robust development and significant system-wide room growth in 2025, indicating future revenue potential. For the full year 2025, Wyndham Hotels & Resorts achieved 4% year-over-year growth in system-wide rooms and expanded its global development pipeline by 3% to a record 259,000 rooms. Furthermore, the company awarded a record 870 development contracts globally in 2025, marking an 18% increase from the previous year.
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Stock Movement Drivers
Fundamental Drivers
The 13.4% change in WH stock from 12/31/2025 to 4/22/2026 was primarily driven by a 97.3% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 4222026 | Change |
|---|---|---|---|
| Stock Price ($) | 75.15 | 85.24 | 13.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,436 | 1,429 | -0.5% |
| Net Income Margin (%) | 23.5% | 13.5% | -42.6% |
| P/E Multiple | 17.0 | 33.5 | 97.3% |
| Shares Outstanding (Mil) | 76 | 76 | 0.7% |
| Cumulative Contribution | 13.4% |
Market Drivers
12/31/2025 to 4/22/2026| Return | Correlation | |
|---|---|---|
| WH | 13.4% | |
| Market (SPY) | -5.4% | 37.1% |
| Sector (XLY) | -0.4% | 45.4% |
Fundamental Drivers
The 7.8% change in WH stock from 9/30/2025 to 4/22/2026 was primarily driven by a 84.5% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 4222026 | Change |
|---|---|---|---|
| Stock Price ($) | 79.04 | 85.24 | 7.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,450 | 1,429 | -1.4% |
| Net Income Margin (%) | 23.1% | 13.5% | -41.5% |
| P/E Multiple | 18.2 | 33.5 | 84.5% |
| Shares Outstanding (Mil) | 77 | 76 | 1.4% |
| Cumulative Contribution | 7.8% |
Market Drivers
9/30/2025 to 4/22/2026| Return | Correlation | |
|---|---|---|
| WH | 7.8% | |
| Market (SPY) | -2.9% | 26.4% |
| Sector (XLY) | -0.5% | 41.1% |
Fundamental Drivers
The -3.9% change in WH stock from 3/31/2025 to 4/22/2026 was primarily driven by a -34.2% change in the company's Net Income Margin (%).| (LTM values as of) | 3312025 | 4222026 | Change |
|---|---|---|---|
| Stock Price ($) | 88.66 | 85.24 | -3.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,409 | 1,429 | 1.4% |
| Net Income Margin (%) | 20.5% | 13.5% | -34.2% |
| P/E Multiple | 23.8 | 33.5 | 40.6% |
| Shares Outstanding (Mil) | 78 | 76 | 2.4% |
| Cumulative Contribution | -3.9% |
Market Drivers
3/31/2025 to 4/22/2026| Return | Correlation | |
|---|---|---|
| WH | -3.9% | |
| Market (SPY) | 16.3% | 58.1% |
| Sector (XLY) | 21.2% | 63.0% |
Fundamental Drivers
The 33.1% change in WH stock from 3/31/2023 to 4/22/2026 was primarily driven by a 112.1% change in the company's P/E Multiple.| (LTM values as of) | 3312023 | 4222026 | Change |
|---|---|---|---|
| Stock Price ($) | 64.04 | 85.24 | 33.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,498 | 1,429 | -4.6% |
| Net Income Margin (%) | 23.7% | 13.5% | -43.0% |
| P/E Multiple | 15.8 | 33.5 | 112.1% |
| Shares Outstanding (Mil) | 88 | 76 | 15.4% |
| Cumulative Contribution | 33.1% |
Market Drivers
3/31/2023 to 4/22/2026| Return | Correlation | |
|---|---|---|
| WH | 33.1% | |
| Market (SPY) | 63.3% | 50.4% |
| Sector (XLY) | 62.7% | 53.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| WH Return | 53% | -19% | 15% | 28% | -24% | 17% | 62% |
| Peers Return | 35% | -15% | 36% | 27% | -0% | 18% | 134% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 3% | 88% |
Monthly Win Rates [3] | |||||||
| WH Win Rate | 67% | 33% | 67% | 58% | 42% | 50% | |
| Peers Win Rate | 56% | 42% | 56% | 65% | 56% | 69% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| WH Max Drawdown | -4% | -33% | -9% | -15% | -30% | -4% | |
| Peers Max Drawdown | -10% | -27% | -1% | -3% | -29% | -3% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MAR, HLT, H, CHH. See WH Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/22/2026 (YTD)
How Low Can It Go
| Event | WH | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -34.7% | -25.4% |
| % Gain to Breakeven | 53.2% | 34.1% |
| Time to Breakeven | 772 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -65.6% | -33.9% |
| % Gain to Breakeven | 190.9% | 51.3% |
| Time to Breakeven | 337 days | 148 days |
| 2018 Correction | ||
| % Loss | -34.5% | -19.8% |
| % Gain to Breakeven | 52.7% | 24.7% |
| Time to Breakeven | 793 days | 120 days |
Compare to MAR, HLT, H, CHH
In The Past
Wyndham Hotels & Resorts's stock fell -34.7% during the 2022 Inflation Shock from a high on 4/28/2022. A -34.7% loss requires a 53.2% gain to breakeven.
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About Wyndham Hotels & Resorts (WH)
Wyndham Hotels & Resorts, Inc. operates as a hotel franchisor worldwide. It operates through Hotel Franchising and Hotel Management segments. The Hotel Franchising segment licenses its lodging brands and provides related services to third-party hotel owners and others. The Hotel Management segment provides hotel management services for full-service and limited-service hotels. It is also involved in the reward loyalty program business. The company's hotel brand portfolios include Super 8, Days Inn, Travelodge, Microtel, Howard Johnson, La Quinta, Ramada, Baymont, AmericInn, Wingate, Wyndham Alltra, Wyndham Garden, Ramada Encore, Hawthorn, Registry Collection, Trademark Collection, TRYP, Dazzler, Esplendor, Wyndham Grand, Dolce, and Wyndham. As of March 29, 2022, it operated a portfolio of 22 hotel brands with approximately 9,000 hotels with approximately 8,10,000 rooms in approximately 95 countries. The company was incorporated in 2017 and is headquartered in Parsippany, New Jersey.
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Wyndham is like Yum! Brands (KFC, Pizza Hut, Taco Bell) for hotels, owning and franchising a vast portfolio of hotel brands like Super 8 and Days Inn.
Think of it as the McDonald's of hotels, focusing on licensing its many different hotel brands like Ramada and La Quinta to independent hotel owners worldwide.
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- Hotel Franchising: Wyndham licenses its lodging brands and provides related services to third-party hotel owners globally.
- Hotel Management: Wyndham provides comprehensive management services for both full-service and limited-service hotels.
- Reward Loyalty Program: Wyndham operates a loyalty program designed to reward guests across its portfolio of hotel brands.
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Wyndham Hotels & Resorts (WH) sells primarily to other companies, not directly to individual travelers. The company operates as a hotel franchisor and provider of hotel management services.
Given Wyndham's business model, its customer base consists of thousands of independent hotel owners and operators worldwide who license Wyndham's brands and utilize its management services. These customers are typically private entities (such as individual entrepreneurs, small business owners, or hotel investment groups) rather than a few large, publicly traded companies that would be identified as "major customers" in financial disclosures. Therefore, it is not possible to list specific names of major customer companies and their symbols.
Instead, Wyndham's customers can be categorized by the types of businesses they represent:
- Independent Hotel Owners/Operators: These are businesses, ranging from individual proprietors to small-to-medium-sized companies, that own one or more hotel properties. They choose to franchise with Wyndham to leverage its extensive portfolio of brands (e.g., Super 8, Days Inn, La Quinta, Ramada), global reservation systems, loyalty program (Wyndham Rewards), marketing, and operational support, enhancing their hotels' visibility and profitability.
- Hotel Development and Investment Firms: These companies focus on developing new hotel properties or acquiring existing ones as part of their investment strategies. They become customers by entering into franchise agreements or hotel management contracts with Wyndham to brand and operate their properties, benefiting from Wyndham's industry expertise and brand recognition to maximize their asset value.
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- Shiji Group (Private Company)
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Here is the management team for Wyndham Hotels & Resorts: Geoff Ballotti, President and Chief Executive Officer Ballotti has served as President and Chief Executive Officer of Wyndham Hotels & Resorts since its spin-off in 2018. He previously held the role of President and CEO of Wyndham Hotel Group for four years and, prior to that, was CEO of Wyndham Destinations for six years. Before joining Wyndham, Ballotti spent two decades at Starwood Hotels and Resorts Worldwide, where he held various leadership positions, including President of Starwood North America, Executive Vice President of Operations, Senior Vice President of Southern Europe, and Managing Director of Ciga Spa, Italy. Earlier in his career, he worked as a Banking Officer in the Commercial Real Estate Group at the Bank of New England. Ballotti has extensive knowledge of the hospitality and hotel franchising industry, spanning over 35 years in leadership roles. He has been instrumental in significant mergers and acquisitions, such as the acquisition of La Quinta, as well as the launch of new brands like Trademark Collection, Wyndham Alltra, Registry Collection, and Echo Suites. Amit Sripathi, Chief Financial Officer Amit Sripathi was appointed Chief Financial Officer of Wyndham Hotels & Resorts, effective March 3, 2026. He joined Wyndham in 2021 and most recently served as the Chief Development Officer for North America. Prior to that, he was the Senior Vice President of Strategic Development from September 2021 to May 2024. Before his tenure at Wyndham, Sripathi was responsible for Capital Markets and Corporate Finance at RLJ Lodging Trust. He began his career in the Real Estate, Lodging and Gaming investment banking group at Deutsche Bank. At Wyndham, Sripathi played a key role in achieving 20 consecutive quarters of organic net room growth and oversaw the divestiture of the company's owned hotels. Paul Cash, General Counsel Paul Cash serves as the General Counsel for Wyndham Hotels & Resorts. Monica Melancon, Chief Human Resource Officer Monica Melancon is the Chief Human Resource Officer at Wyndham Hotels & Resorts. Scott Strickland, Chief Commercial Officer Scott Strickland holds the position of Chief Commercial Officer at Wyndham Hotels & Resorts.AI Analysis | Feedback
```htmlKey Risks to Wyndham Hotels & Resorts (WH)
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Sensitivity to Economic Downturns and Weakness in the Economy Lodging Segment: Wyndham Hotels & Resorts, as a hotel franchisor, generates a significant portion of its revenue from fees based on room revenues at its franchised hotels. This makes the company highly vulnerable to macroeconomic cycles and fluctuations in travel demand, which directly impact hotel occupancy and average daily rates (ADR). Recent reports indicate persistent weakness and declining Revenue Per Available Room (RevPAR) within the economy and midscale lodging segments, which constitute a substantial part of Wyndham's portfolio, posing a direct threat to its fee-related revenue growth.
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Risks Inherent in the Hotel Franchising Business Model: Wyndham's asset-light business model relies heavily on its network of independent franchisees. This introduces several risks, including the potential for loss of control over quality and consistency if franchisees do not adhere to brand standards, which can ultimately impact brand reputation and customer loyalty. Additionally, there is a risk that franchisees may choose to switch to competing brands, potentially affecting Wyndham's system-wide room count and profit margins. Maintaining franchisee confidence and navigating the complexities of these relationships are crucial for the company's long-term growth and stability.
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High Debt Levels and Financial Leverage: Wyndham Hotels & Resorts carries a significant amount of debt, which poses a key financial risk. The company's high debt-to-equity ratio (5.48) indicates substantial leverage, and its financial strength has been rated as poor due to these high debt levels and low interest coverage. This considerable debt burden can limit the company's financial flexibility, especially during periods of economic uncertainty, and has contributed to higher interest expenses, negatively impacting net income.
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The continued growth and professionalization of short-term rental platforms (e.g., Airbnb) represents a clear emerging threat. These platforms offer alternative accommodations that directly compete with traditional hotels, particularly in the economy and mid-scale segments where Wyndham has a significant presence. The evolving ecosystem of short-term rentals, with increasing professional management and broader market acceptance, diverts demand and shifts consumer preferences away from traditional hotel stays, thereby impacting occupancy rates, pricing power, and ultimately, Wyndham's franchising and management revenues.
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Wyndham Hotels & Resorts (symbol: WH) operates in two main segments: Hotel Franchising and Hotel Management, and also offers a reward loyalty program. Below are the addressable market sizes for these services:
- Hotel Franchising: The global market for hotel franchises was valued at approximately USD 38.3 billion in 2024 and is projected to reach USD 54.8 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 6.2% from 2024 to 2030. Other estimates place the global hotel franchise market at USD 37.02 billion in 2023, expected to grow to USD 77.16 billion by 2033 with a CAGR of 7.62% during the forecast period of 2024-2033. North America is identified as the largest market for hotel franchises.
- Hotel Management Services: Null
- Reward Loyalty Program: The global tourism industry loyalty programs market was valued at USD 30 billion in 2025 and is projected to reach USD 65 billion by 2035, demonstrating a CAGR of 8.1%. Another estimate for the loyalty programs market in the tourism industry shows it growing from USD 24,602.5 million in 2024 to USD 49,746.24 million by 2032, with a CAGR of 9.2%. The broader global loyalty management market, which includes hospitality, was estimated at USD 13.59 billion in 2025 and is projected to reach USD 31.11 billion by 2033, growing at a CAGR of 10.7% from 2026 to 2033. North America held a 36.5% revenue share of the global loyalty management market in 2025.
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Wyndham Hotels & Resorts (WH) is expected to drive future revenue growth over the next 2-3 years through several key strategies:
- Continued System-Wide Room Growth and Development Pipeline Expansion: Wyndham consistently reports an expanding global development pipeline and growth in its system-wide rooms. The company's global development pipeline reached approximately 252,000 rooms as of December 31, 2024, representing a 5% year-over-year increase, with 58% of that pipeline being international. As of December 31, 2025, the pipeline grew to a record 259,000 rooms, an increase of 3% year-over-year. This expansion is fueled by record hotel openings and new development contracts, directly contributing to franchising revenue.
- Strategic Expansion in Extended-Stay and Higher FeePAR Segments: Wyndham is strategically focusing on the rapidly growing extended-stay market with brands such as ECHO Suites Extended Stay by Wyndham, Hawthorn Suites, WaterWalk, and Wyndham Residences. These brands represent a significant portion of its development pipeline, with ECHO Suites alone making up 14% of the pipeline. The company is also expanding into higher FeePAR (fees per available room) markets and growing its midscale and above segments, which represent approximately 70% of its pipeline and contribute to stronger long-term revenue streams.
- International Market Expansion: The company is actively pursuing growth in international markets, with significant expansion in regions such as Europe, the Middle East, Eurasia, Africa (EMEA), Latin America, and Asia Pacific (including India and China). International net rooms grew by 9% in 2025, with EMEA up 8%, Latin America and the Caribbean up 5%, Southeast Asia and the Pacific Rim up 11%, and direct franchising in Mainland China surging 14%. These efforts are expected to diversify revenue streams and capitalize on global travel demand.
- Growth of Wyndham Rewards Loyalty Program and Ancillary Revenues: The Wyndham Rewards loyalty program, consistently recognized as a top hotel rewards program, continues to grow its membership, reaching approximately 120 million enrolled members globally. Members drive significant system-wide occupancy and spend more than non-members. Wyndham is also focused on unlocking new ancillary revenue streams, which increased by 15% on a full-year basis in 2025, reaching an all-time high, with management expecting low- to mid-teens growth to continue into 2026.
- Leveraging Technology and Digital Capabilities for Enhanced Revenue and Efficiency: Wyndham is scaling its technology and digital platforms to improve guest experiences and drive franchisee profitability. This includes the implementation of AI agents for guest calls and bookings, and the expansion of "Wyndham Connect" which enables thousands of hotels to automate guest interactions, reduce labor costs, and generate incremental revenue through features like upsells and mobile check-in/check-out.
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Capital Allocation Decisions (Last 3-5 Years)
Share Repurchases
- Wyndham Hotels & Resorts' Board of Directors approved the resumption of its share repurchase program on August 19, 2021, with $191 million remaining under the authorization.
- For the full-year 2025, the company repurchased approximately 3.1 million shares of its common stock totaling $266 million.
- In the fourth quarter of 2025, Wyndham repurchased approximately 0.6 million shares for $43 million.
Share Issuance
- As of February 19, 2026, there were 2.0 million shares under equity compensation plans approved by security holders, with a weighted-average exercise price of $55.07, available for future issuance.
- On March 10, 2026, a director received an equity award of 326 shares of Common Stock as deferred stock units, resulting from the vesting of previously granted restricted stock units.
Outbound Investments
- Wyndham expanded its portfolio by entering an agreement to add nearly 2,000 rooms across four Choctaw Casino & Resorts properties in Oklahoma, aimed at enhancing its upscale offerings.
- The company continues to focus on strategically adding more aspirational upscale hotels and resorts to expand opportunities for its Wyndham Rewards members.
Capital Expenditures
- As of September 14, 2025, Wyndham Hotels & Resorts' Capital Expenditure (LTM - Last Twelve Months) was $9 million.
- The company operates with an "asset-light business model," which generally implies lower capital expenditures and is designed to generate significant free cash flow.
- For the full-year 2025, the company reported a "development advance spend" of $105 million, reflecting investments in growing its global development pipeline and integrating technology like AI for operational savings.
Latest Trefis Analyses
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| 09302022 | WH | Wyndham Hotels & Resorts | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 11.7% | 15.5% | 0.0% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 165.44 |
| Mkt Cap | 15.7 |
| Rev LTM | 7,101 |
| Op Inc LTM | 511 |
| FCF LTM | 321 |
| FCF 3Y Avg | 408 |
| CFO LTM | 379 |
| CFO 3Y Avg | 604 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.3% |
| Rev Chg 3Y Avg | 6.6% |
| Rev Chg Q | 4.1% |
| QoQ Delta Rev Chg LTM | 1.0% |
| Op Inc Chg LTM | 7.7% |
| Op Inc Chg 3Y Avg | 5.4% |
| Op Mgn LTM | 22.4% |
| Op Mgn 3Y Avg | 21.9% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 16.9% |
| CFO/Rev 3Y Avg | 18.2% |
| FCF/Rev LTM | 10.0% |
| FCF/Rev 3Y Avg | 10.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 15.7 |
| P/S | 3.8 |
| P/Op Inc | 23.8 |
| P/EBIT | 23.5 |
| P/E | 33.5 |
| P/CFO | 30.7 |
| Total Yield | 3.4% |
| Dividend Yield | 0.4% |
| FCF Yield 3Y Avg | 3.2% |
| D/E | 0.3 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 12.4% |
| 3M Rtn | 8.4% |
| 6M Rtn | 14.9% |
| 12M Rtn | 55.0% |
| 3Y Rtn | 42.8% |
| 1M Excs Rtn | 4.0% |
| 3M Excs Rtn | 4.6% |
| 6M Excs Rtn | 13.2% |
| 12M Excs Rtn | 21.0% |
| 3Y Excs Rtn | -24.4% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Royalties and franchise fees | 555 | ||||
| Marketing and reservation fees | 467 | ||||
| License and other fees | 119 | ||||
| Loyalty revenue | 96 | ||||
| Other | 88 | ||||
| Partnership fees | 69 | ||||
| Management and other fees | 10 | ||||
| Cost reimbursements | 4 | ||||
| Hotel Franchising | 1,397 | 1,277 | 1,099 | 863 | |
| Corporate | 0 | ||||
| Hotel Management | 221 | 466 | 437 | ||
| Total | 1,408 | 1,397 | 1,498 | 1,565 | 1,300 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Hotel Franchising | 289 | ||||
| Total | 289 |
Price Behavior
Price Behavior
| Market Price | $85.24 | |
| Market Cap ($ Bil) | 6.5 | |
| First Trading Date | 05/18/2018 | |
| Distance from 52W High | -5.9% | |
| 50 Days | 200 Days | |
| DMA Price | $80.98 | $79.61 |
| DMA Trend | indeterminate | up |
| Distance from DMA | 5.3% | 7.1% |
| 3M | 1YR | |
| Volatility | 31.9% | 29.3% |
| Downside Capture | 0.05 | 0.39 |
| Upside Capture | 81.36 | 68.87 |
| Correlation (SPY) | 28.7% | 36.4% |
WH Betas & Captures as of 3/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.93 | 0.87 | 1.00 | 0.63 | 1.02 | 0.94 |
| Up Beta | 1.19 | 0.83 | 1.75 | 0.84 | 1.14 | 1.07 |
| Down Beta | 0.57 | 1.38 | 1.22 | 1.08 | 1.00 | 1.06 |
| Up Capture | 153% | 135% | 107% | 35% | 66% | 48% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 13 | 22 | 31 | 59 | 115 | 355 |
| Down Capture | 74% | 19% | 52% | 40% | 101% | 93% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 9 | 20 | 32 | 67 | 136 | 387 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with WH | |
|---|---|---|---|---|
| WH | 10.3% | 29.3% | 0.34 | - |
| Sector ETF (XLY) | 32.7% | 19.2% | 1.35 | 48.8% |
| Equity (SPY) | 26.7% | 12.5% | 1.77 | 37.6% |
| Gold (GLD) | 38.9% | 27.4% | 1.19 | -12.8% |
| Commodities (DBC) | 23.5% | 16.2% | 1.32 | -2.1% |
| Real Estate (VNQ) | 15.6% | 13.6% | 0.82 | 46.6% |
| Bitcoin (BTCUSD) | -12.8% | 42.6% | -0.21 | 20.0% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with WH | |
|---|---|---|---|---|
| WH | 4.9% | 29.4% | 0.19 | - |
| Sector ETF (XLY) | 6.7% | 23.8% | 0.25 | 59.9% |
| Equity (SPY) | 10.5% | 17.1% | 0.48 | 58.2% |
| Gold (GLD) | 21.5% | 17.8% | 0.99 | -1.6% |
| Commodities (DBC) | 10.7% | 18.8% | 0.47 | 16.6% |
| Real Estate (VNQ) | 3.6% | 18.8% | 0.09 | 46.5% |
| Bitcoin (BTCUSD) | 3.8% | 56.4% | 0.29 | 24.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with WH | |
|---|---|---|---|---|
| WH | 4.5% | 35.9% | 0.26 | - |
| Sector ETF (XLY) | 12.8% | 22.0% | 0.53 | 60.6% |
| Equity (SPY) | 13.8% | 17.9% | 0.66 | 60.5% |
| Gold (GLD) | 13.9% | 15.9% | 0.73 | 0.6% |
| Commodities (DBC) | 8.1% | 17.6% | 0.38 | 25.7% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.23 | 54.6% |
| Bitcoin (BTCUSD) | 68.1% | 66.9% | 1.07 | 20.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/18/2026 | 5.6% | 4.6% | -0.9% |
| 10/22/2025 | -5.5% | -8.6% | -13.8% |
| 7/23/2025 | 3.1% | 2.6% | 0.6% |
| 4/30/2025 | 0.1% | -2.4% | -3.0% |
| 2/12/2025 | -1.6% | 2.6% | -17.5% |
| 10/23/2024 | 10.6% | 9.2% | 18.4% |
| 7/24/2024 | 8.8% | 7.5% | 9.4% |
| 4/24/2024 | 4.7% | 1.3% | -3.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 15 | 14 | 14 |
| # Negative | 9 | 10 | 10 |
| Median Positive | 3.1% | 4.0% | 7.5% |
| Median Negative | -1.2% | -3.2% | -4.8% |
| Max Positive | 10.6% | 17.8% | 38.9% |
| Max Negative | -5.5% | -8.6% | -17.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/19/2026 | 10-K |
| 09/30/2025 | 10/23/2025 | 10-Q |
| 06/30/2025 | 07/24/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/13/2025 | 10-K |
| 09/30/2024 | 10/24/2024 | 10-Q |
| 06/30/2024 | 07/25/2024 | 10-Q |
| 03/31/2024 | 04/25/2024 | 10-Q |
| 12/31/2023 | 02/15/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 02/16/2023 | 10-K |
| 09/30/2022 | 10/26/2022 | 10-Q |
| 06/30/2022 | 07/27/2022 | 10-Q |
| 03/31/2022 | 04/27/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 2/18/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 1.46 Bil | 1.47 Bil | 1.49 Bil | 2.1% | Raised | Guidance: 1.44 Bil for 2025 | |
| 2026 Adjusted EBITDA | 730.00 Mil | 737.50 Mil | 745.00 Mil | 2.4% | Raised | Guidance: 720.00 Mil for 2025 | |
| 2026 Net Income | 354.00 Mil | 361.00 Mil | 368.00 Mil | 2.4% | Raised | Guidance: 352.50 Mil for 2025 | |
| 2026 EPS | 4.62 | 4.71 | 4.8 | 3.5% | Raised | Guidance: 4.55 for 2025 | |
| 2026 Free Cash Flow | 0.55 | 0.57 | 0.6 | 0.9% | Raised | Guidance: 0.57 for 2025 | |
| 2026 Revenue Growth | -1.5% | -0.5% | 0.5% | -80.0% | 2.0% | Raised | Guidance: -2.5% for 2025 |
| 2026 Number of rooms growth | 4.0% | 4.25% | 4.5% | -1.2% | -0.0% | Lowered | Guidance: 4.3% for 2025 |
Prior: Q3 2025 Earnings Reported 10/22/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Year-over-year rooms growth | 4.0% | 4.3% | 4.6% | 0 | 0 | Affirmed | Guidance: 4.3% for 2025 |
| 2025 Year-over-year global RevPAR growth | -3.0% | -2.5% | -2.0% | 4 | -2.0% | Lowered | Guidance: -0.5% for 2025 |
| 2025 Fee-related and other revenues | 1.43 Bil | 1.44 Bil | 1.45 Bil | -2.0% | Lowered | Guidance: 1.47 Bil for 2025 | |
| 2025 Adjusted EBITDA | 715.00 Mil | 720.00 Mil | 725.00 Mil | -2.4% | Lowered | Guidance: 737.50 Mil for 2025 | |
| 2025 Adjusted net income | 347.00 Mil | 352.50 Mil | 358.00 Mil | -3.4% | Lowered | Guidance: 365.00 Mil for 2025 | |
| 2025 Adjusted diluted EPS | 4.48 | 4.55 | 4.62 | -3.0% | Lowered | Guidance: 4.69 for 2025 | |
| 2025 Adjusted free cash flow conversion rate | 0.57 | ||||||
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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