Wyndham Hotels & Resorts (WH)


Market Price (10/31/2026): $75.195 | Market Cap: $5.6 BilSector: Consumer Discretionary | Industry: Hotels, Resorts & Cruise Lines

Wyndham Hotels & Resorts (WH)


Market Price (10/31/2026): $75.195
Market Cap: $5.6 Bil
Sector: Consumer Discretionary
Industry: Hotels, Resorts & Cruise Lines

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.1%, Dividend Yield is 3.5%, FCF Yield is 7.9%

Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 36%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 35%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 31%

Stock buyback support
Stock Buyback 3Y Total is 1.2 Bil

Low stock price volatility
Vol 12M is 30%

Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization, Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include Travel & Leisure Tech, Show more.

Weak multi-year price returns
2Y Excs Rtn is -47%, 3Y Excs Rtn is -76%

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%

Expensive valuation multiples
P/SPrice/Sales ratio is 3.9x

Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.8%

Key risks
WH 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.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.1%, Dividend Yield is 3.5%, FCF Yield is 7.9%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 36%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 35%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 31%
3 Stock buyback support
Stock Buyback 3Y Total is 1.2 Bil
4 Low stock price volatility
Vol 12M is 30%
5 Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization, Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include Travel & Leisure Tech, Show more.
6 Weak multi-year price returns
2Y Excs Rtn is -47%, 3Y Excs Rtn is -76%
7 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%
8 Expensive valuation multiples
P/SPrice/Sales ratio is 3.9x
9 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.8%
10 Key risks
WH 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.

WH in ETFs

Weight = WH's share of each fund

VTI0.01%
ITOT0.01%
IWB0.01%
IJH0.16%
VYM0.02%
VB0.06%
FNDA0.23%
MDYG0.17%
+22 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/29/2026

Wyndham Hotels & Resorts (WH) stock has lost about 10% since 6/30/2026 because of the following key factors:

1. Post-Earnings Analyst Sentiment and Valuation Concerns.

Despite Wyndham Hotels & Resorts reporting stronger-than-expected fiscal Q3 2026 results, including a 7% increase in net revenues to $410 million and a 6% rise in U.S. RevPAR, the stock experienced a decline. The market's cautious response, which included a 5.8% drop on October 23, 2026, after an analyst downgrade, suggests investors were weighing near-term execution against broader valuation concerns. Robert W. Baird notably reduced its price target from $96.00 to $95.00 on October 23, 2026, while JPMorgan Chase & Co. also lowered its objective from $100.00 to $97.00 on July 21, 2026. The company's P/E ratio of 26.8x was noted to be 16% above its 5-year median P/E of 23.2x, indicating a premium valuation that may have contributed to investor caution.

2. Narrowed Net Room Growth Outlook and International Market Weakness.

Wyndham narrowed its fiscal year 2026 net room growth outlook, excluding Revo, to approximately 4% from a prior range of 4% to 4.5%. This adjustment, attributed to the strategic removal of substandard rooms and a shift towards higher-value opportunities, implies a moderated pace of system expansion. Concurrently, the company faced challenges in international markets, with global RevPAR growing only 2% in constant currency during fiscal Q3 2026 and international RevPAR declining by 3%. A significant contributing factor was a 10% decline in RevPAR from China, which acted as a headwind offsetting the strong U.S. performance.

Show more
Updated on 10/29/2026

Wyndham Hotels & Resorts (WH) stock has lost about 10% since 6/30/2026 because of the following key factors:

1. Post-Earnings Analyst Sentiment and Valuation Concerns.

Despite Wyndham Hotels & Resorts reporting stronger-than-expected fiscal Q3 2026 results, including a 7% increase in net revenues to $410 million and a 6% rise in U.S. RevPAR, the stock experienced a decline. The market's cautious response, which included a 5.8% drop on October 23, 2026, after an analyst downgrade, suggests investors were weighing near-term execution against broader valuation concerns. Robert W. Baird notably reduced its price target from $96.00 to $95.00 on October 23, 2026, while JPMorgan Chase & Co. also lowered its objective from $100.00 to $97.00 on July 21, 2026. The company's P/E ratio of 26.8x was noted to be 16% above its 5-year median P/E of 23.2x, indicating a premium valuation that may have contributed to investor caution.

2. Narrowed Net Room Growth Outlook and International Market Weakness.

Wyndham narrowed its fiscal year 2026 net room growth outlook, excluding Revo, to approximately 4% from a prior range of 4% to 4.5%. This adjustment, attributed to the strategic removal of substandard rooms and a shift towards higher-value opportunities, implies a moderated pace of system expansion. Concurrently, the company faced challenges in international markets, with global RevPAR growing only 2% in constant currency during fiscal Q3 2026 and international RevPAR declining by 3%. A significant contributing factor was a 10% decline in RevPAR from China, which acted as a headwind offsetting the strong U.S. performance.

3. Significant Insider Selling Activity.

Insider trading reports revealed substantial selling of company stock during the specified period. CEO Geoffrey Ballotti sold 19,414 shares for approximately $1.41 million on August 17, 2026, and an additional 19,295 shares for about $1.42 million on October 15, 2026. Cumulatively, insiders sold $16.7 million worth of shares over the past 12 months, exceeding the $5 million threshold for consideration, which could be interpreted by the market as a lack of confidence in the company's near-term prospects.

4. Macroeconomic Headwinds from Rising Interest Rates and Hospitality Sector Outlook.

Broader macroeconomic factors contributed to investor sentiment. The Federal Reserve raised the federal funds rate by 25 basis points to 4.00% on September 16, 2026, marking the first increase since 2023. Higher interest rates generally increase borrowing costs for businesses and can temper consumer spending, potentially impacting the travel and hospitality sector. Additionally, the overall hospitality market saw economy/midscale hotel cap rates widen to approximately 9.5% in fiscal Q3 2026, reflecting heightened investor caution and potentially lower valuations within this segment, which forms a significant part of Wyndham's portfolio.

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Stock Movement Drivers

Fundamental Drivers

The -10.1% change in WH stock from 6/30/2026 to 10/30/2026 was primarily driven by a -15.6% change in the company's P/E Multiple.
(LTM values as of)630202610302026Change
Stock Price ($)83.6975.20-10.1%
Change Contribution By: 
Total Revenues ($ Mil)1,4401,4460.4%
Net Income Margin (%)13.4%14.0%4.2%
P/E Multiple32.727.6-15.6%
Shares Outstanding (Mil)75741.8%
Cumulative Contribution-10.1%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/30/2026
ReturnCorrelation
WH-10.1% 
Market (SPY)1.2%33.8%
Sector (XLY)-1.6%42.3%

Fundamental Drivers

The -6.3% change in WH stock from 3/31/2026 to 10/30/2026 was primarily driven by a -12.6% change in the company's P/E Multiple.
(LTM values as of)331202610302026Change
Stock Price ($)80.2975.20-6.3%
Change Contribution By: 
Total Revenues ($ Mil)1,4291,4461.2%
Net Income Margin (%)13.5%14.0%3.4%
P/E Multiple31.627.6-12.6%
Shares Outstanding (Mil)76742.4%
Cumulative Contribution-6.3%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/30/2026
ReturnCorrelation
WH-6.3% 
Market (SPY)16.5%24.0%
Sector (XLY)6.1%42.8%

Fundamental Drivers

The -3.7% change in WH stock from 9/30/2025 to 10/30/2026 was primarily driven by a -39.5% change in the company's Net Income Margin (%).
(LTM values as of)930202510302026Change
Stock Price ($)78.1275.20-3.7%
Change Contribution By: 
Total Revenues ($ Mil)1,4501,446-0.3%
Net Income Margin (%)23.1%14.0%-39.5%
P/E Multiple18.027.653.6%
Shares Outstanding (Mil)77743.9%
Cumulative Contribution-3.7%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/30/2026
ReturnCorrelation
WH-3.7% 
Market (SPY)14.4%25.2%
Sector (XLY)-3.1%40.5%

Fundamental Drivers

The 14.8% change in WH stock from 9/30/2023 to 10/30/2026 was primarily driven by a 45.2% change in the company's P/E Multiple.
(LTM values as of)930202310302026Change
Stock Price ($)65.5075.2014.8%
Change Contribution By: 
Total Revenues ($ Mil)1,4161,4462.1%
Net Income Margin (%)20.8%14.0%-32.7%
P/E Multiple19.027.645.2%
Shares Outstanding (Mil)857415.1%
Cumulative Contribution14.8%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/30/2026
ReturnCorrelation
WH14.8% 
Market (SPY)82.9%47.0%
Sector (XLY)46.6%53.9%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
WH Return53%-19%15%28%-24%1%40%
Peers Return35%-15%36%27%-0%21%140%
S&P 500 Return27%-19%24%23%16%13%106%

Monthly Win Rates [3]
WH Win Rate67%33%67%58%42%40% 
Peers Win Rate56%42%56%65%56%62% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
WH Max Drawdown-13%-34%-20%-16%-37%-24% 
Peers Max Drawdown-16%-32%-17%-16%-35%-19% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[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 10/30/2026 (YTD)

How Low Can It Go

EventWHS&P 500
2023 SVB Regional Banking Crisis
  % Loss-16.1%-6.7%
  % Gain to Breakeven19.2%7.1%
  Time to Breakeven123 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-33.1%-24.5%
  % Gain to Breakeven49.4%32.4%
  Time to Breakeven759 days427 days
2020 COVID-19 Crash
  % Loss-63.7%-33.7%
  % Gain to Breakeven175.5%50.9%
  Time to Breakeven260 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-17.3%-19.2%
  % Gain to Breakeven20.8%23.8%
  Time to Breakeven58 days105 days

Compare to MAR, HLT, H, CHH

In The Past

Wyndham Hotels & Resorts's stock fell -3.5% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 3.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

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EventWHS&P 500
2022 Inflation Shock & Fed Tightening
  % Loss-33.1%-24.5%
  % Gain to Breakeven49.4%32.4%
  Time to Breakeven759 days427 days
2020 COVID-19 Crash
  % Loss-63.7%-33.7%
  % Gain to Breakeven175.5%50.9%
  Time to Breakeven260 days140 days

Compare to MAR, HLT, H, CHH

In The Past

Wyndham Hotels & Resorts's stock fell -3.5% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 3.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Wyndham Hotels & Resorts (WH)

Wyndham Hotels & Resorts, Inc. (WH) is a prominent global hospitality company primarily operating as a hotel franchisor. Its core business involves licensing a vast portfolio of its well-known lodging brands, such as Super 8, Days Inn, La Quinta, and Ramada, to independent third-party hotel owners worldwide. Through this asset-light model, Wyndham provides brand recognition, marketing, and operational frameworks to these owners, generating recurring revenue streams without directly owning the physical hotel properties.

In addition to franchising, Wyndham offers hotel management services for a range of properties, from full-service to limited-service hotels, providing operational expertise to maximize performance for owners. The company also manages a loyalty program, enhancing brand appeal and retaining customers. Wyndham boasts a diverse portfolio of 22 hotel brands, encompassing approximately 9,000 hotels and 810,000 rooms across some 95 countries. This extensive global presence and variety of brands allow Wyndham to serve a wide array of travelers, from budget-conscious to luxury seekers, while its primary customers are the independent hotel owners seeking a strong brand affiliation.

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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:

  1. 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.
  2. 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.

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Key Risks to Wyndham Hotels & Resorts (WH)

  1. 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.

  2. 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.

  3. 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:

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.

Better Bets vs. Wyndham Hotels & Resorts (WH)

Peer Outperformance in Hotels, Resorts & Cruise Lines

WH has trailed 55% of its 20 Hotels, Resorts & Cruise Lines peers over 5Y. Among the peers that beat it are H and TNL. Hotels, Resorts & Cruise Lines ranks 3rd of 22 industries in Consumer Discretionary by median 5Y return. That makes it one of the strongest corners of the sector.
Share of Hotels, Resorts & Cruise Lines constituents that WH has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
30%
of 20 industry peers · 5.2% return
3Y
25%
of 20 industry peers · 10.3% return
5Y
45%
of 20 industry peers · -2.0% return
Hotels, Resorts & Cruise Lines peers with revenue growth within 4pp of WH's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
WH Wyndham Hotels & Resorts 0.8% 27.6x 5.2%10.3%-2.0% —
H Hyatt Hotels 2.5% 91.3x 28.9%78.4%115.1% +117pp
TNL Travel+Leisure 3.8% 18.7x 18.2%137.6%61.0% +63pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Consumer Discretionary sector, ranked by 5Y. Hotels, Resorts & Cruise Lines is WH's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Education Services 14 -13.1%42.5%73.9% CVSA 237% · LRN 121% · GHC 109%
Homebuilding 17 -1.8%44.3%33.8% PHM 172% · CVCO 158% · TOL 155%
Hotels, Resorts & Cruise Lines ← 21 19.2%47.8%24.3% RCL 276% · MAR 160% · HLT 151%
Home Furnishings 3 -2.9%63.7%3.1% SGI 51% · MHK -21%
Automotive Retail 17 -7.4%17.7%1.2% MUSA 237% · PAG 126% · ORLY 112%
Home Improvement Retail 5 -10.9%16.5%-1.2% HD 1% · LOW -1% · FND -65%
Footwear 9 82.4%68.5%-6.8% DECK 24% · SHOO 8% · CROX -7%
Restaurants 35 2.2%-2.8%-13.3% EAT 406% · CAKE 212% · TXRH 125%
Specialized Consumer Services 10 -7.2%47.5%-17.9% HRB 163% · FTDR 135% · ADT 34%
Distributors 4 -13.1%-14.0%-25.2% ARMK 117% · GPC 7% · POOL -57%
Leisure Products 14 -15.7%-6.7%-34.0% GOLF 79% · HAS 51% · BC -10%
Household Appliances 18 17.8%18.9%-35.9%
Apparel Retail 26 -0.2%4.7%-37.8% ANF 316% · TJX 130% · ROST 113%
Apparel, Accessories & Luxury Goods 29 5.8%32.8%-40.9% RL 241% · TPR 239% · KTB 67%
Leisure Facilities 12 -9.5%1.8%-41.5% OSW 185% · LTH 160% · PLNT -33%
Broadline Retail 12 -0.8%30.9%-41.6% EBAY 73% · AMZN 43% · OLLI 33%
Automotive Parts & Equipment 39 -12.9%-1.4%-45.5% MOD 1080% · GTX 220% · PATK 65%
Computer & Electronics Retail 3 17.1%65.7%-47.2% BBY -1% · GME -47%
Casinos & Gaming 20 -23.8%-17.3%-47.5% BYD 20% · RRR 14% · LVS 2%
Other Specialty Retail 24 -14.9%-11.3%-59.7% ULTA 74% · ASO 45% · DKS 30%
Automobile Manufacturers 8 -14.5%-41.5%-70.4% GM 68% · TSLA 8% · F -2%
Consumer Electronics 11 -32.4%-34.2%-79.0% GRMN 110%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

WHMARHLTHCHHMedian
NameWyndham .Marriott.Hilton W.Hyatt Ho.Choice H. 
Mkt Price75.19398.50358.00180.00111.29180.00
Mkt Cap5.6105.280.216.95.016.9
Rev LTM1,44626,90412,6907,1091,6197,109
Op Inc LTM5264,2333,047596413596
FCF LTM4423,1321,839174115442
FCF 3Y Avg3642,5021,947293141364
CFO LTM5113,7282,014328222511
CFO 3Y Avg4233,1332,139467276467

Growth & Margins

WHMARHLTHCHHMedian
NameWyndham .Marriott.Hilton W.Hyatt Ho.Choice H. 
Rev Chg LTM0.7%4.7%8.1%2.8%2.6%2.8%
Rev Chg 3Y Avg0.8%5.5%8.0%2.5%1.8%2.5%
Rev Chg Q7.3%4.8%6.6%-2.4%3.4%4.8%
QoQ Delta Rev Chg LTM2.0%1.2%1.6%-0.6%0.9%1.2%
Op Inc Chg LTM-11.3%7.2%18.1%32.4%-13.3%7.2%
Op Inc Chg 3Y Avg2.3%1.6%9.7%16.7%-3.6%2.3%
Op Mgn LTM36.4%15.7%24.0%8.4%25.5%24.0%
Op Mgn 3Y Avg38.8%15.7%22.3%6.7%27.6%22.3%
QoQ Delta Op Mgn LTM-1.2%-0.3%0.7%1.3%-1.5%-0.3%
CFO/Rev LTM35.3%13.9%15.9%4.6%13.7%13.9%
CFO/Rev 3Y Avg29.6%12.2%18.2%6.8%17.5%17.5%
FCF/Rev LTM30.6%11.6%14.5%2.4%7.1%11.6%
FCF/Rev 3Y Avg25.5%9.7%16.5%4.3%8.9%9.7%

Valuation

WHMARHLTHCHHMedian
NameWyndham .Marriott.Hilton W.Hyatt Ho.Choice H. 
Mkt Cap5.6105.280.216.95.016.9
P/S3.93.96.32.43.13.9
P/Op Inc10.624.826.328.412.224.8
P/EBIT12.924.326.427.910.124.3
P/E27.640.747.291.015.340.7
P/CFO10.928.239.851.622.728.2
Total Yield7.1%3.1%2.3%1.4%7.6%3.1%
Dividend Yield3.5%0.7%0.2%0.3%1.1%0.7%
FCF Yield 3Y Avg6.3%3.1%3.1%2.0%2.7%3.1%
D/E0.50.20.20.30.40.3
Net D/E0.50.20.20.20.40.2

Returns

WHMARHLTHCHHMedian
NameWyndham .Marriott.Hilton W.Hyatt Ho.Choice H. 
1M Rtn4.7%12.0%12.5%13.5%9.0%12.0%
3M Rtn1.1%7.1%11.8%3.5%0.1%3.5%
6M Rtn-5.9%12.7%12.5%10.1%11.1%11.1%
12M Rtn5.2%53.2%37.9%28.5%21.6%28.5%
3Y Rtn10.3%117.4%138.0%77.9%3.8%77.9%
1M Excs Rtn4.2%11.3%12.5%10.8%7.8%10.8%
3M Excs Rtn-1.4%13.2%12.0%3.1%1.0%3.1%
6M Excs Rtn-13.0%5.6%5.3%3.0%4.0%4.0%
12M Excs Rtn-7.7%40.4%25.3%13.4%7.1%13.4%
3Y Excs Rtn-75.9%32.7%54.0%-4.9%-83.2%-4.9%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Royalties and franchise fees541555532  
Marketing and reservation fees471467487  
License and other fees126119112  
Partnership fees966965  
Other958883  
Loyalty revenue919691  
Management and other fees91014  
Cost reimbursements0413  
Hotel Franchising   1,2771,099
Hotel Management   221466
Corporate    0
Total1,4291,4081,3971,4981,565


Operating Income by Segment
$ Mil20232021
Hotel Franchising727592
Gain on asset sale, net00
Impairments0-6
Separation-related-1-3
Transaction-related-110
Foreign currency impact of highly inflationary countries-14-1
Development advance notes amortization-15-11
Stock-based compensation-39-28
Corporate-68-59
Depreciation and amortization-76-95
Hotel Management 57
Total503446


Net Income by Segment
$ Mil20242022
Hotel Franchising289583
Corporate -289
Hotel Management 61
Total289355


Assets by Segment
$ Mil20232022202120202019
Hotel Franchising3,8803,7113,5753,6293,817
Corporate153299300597216
Hotel Management 113394418500
Total4,0334,1234,2694,6444,533


Price Behavior

Price Behavior
Market Price$75.20 
Market Cap ($ Bil)5.6 
First Trading Date05/18/2018 
Distance from 52W High-15.4% 
   50 Days200 Days
DMA Price$72.26$77.16
DMA Trenddownindeterminate
Distance from DMA4.1%-2.5%
 3M1YR
Volatility27.6%30.5%
Downside Capture130.4172.56
Upside Capture106.0166.35
Correlation (S&P 500)29.8%25.9%
WH Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta0.440.480.690.500.550.90
Up Beta-1.50-0.89-0.650.600.651.00
Down Beta0.89-0.380.49-0.060.591.01
Up Capture38%83%75%33%29%39%
Bmk +ve Days6162766132424
Stock +ve Days10202858116358
Down Capture111%134%170%96%69%95%
Bmk -ve Days16263760120328
Stock -ve Days12223668136388

[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
WH4.7%30.5%0.16-
Sector ETF (XLY)-2.9%19.3%-0.2941.1%
Equity (SPY)10.9%12.8%0.5226.1%
Gold (GLD)-2.0%28.6%-0.088.7%
Commodities (DBC)48.2%20.6%1.79-32.1%
Real Estate (VNQ)10.2%13.7%0.4542.5%
Bitcoin (BTCUSD)-30.3%43.5%-0.718.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with WH
WH0.2%30.0%0.03-
Sector ETF (XLY)4.5%24.1%0.1458.3%
Equity (SPY)12.2%17.1%0.5355.2%
Gold (GLD)16.2%19.0%0.681.8%
Commodities (DBC)9.2%19.5%0.354.6%
Real Estate (VNQ)0.9%18.9%-0.0646.1%
Bitcoin (BTCUSD)4.8%51.6%0.2825.2%

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
WH3.3%35.6%0.20-
Sector ETF (XLY)12.4%22.2%0.5159.7%
Equity (SPY)15.2%17.9%0.7259.0%
Gold (GLD)11.4%16.5%0.562.4%
Commodities (DBC)8.2%18.1%0.3719.5%
Real Estate (VNQ)5.3%20.7%0.2153.6%
Bitcoin (BTCUSD)61.7%66.2%1.0119.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity8.3 Mil
Short Interest: % Change Since 93020268.2%
Average Daily Volume1.1 Mil
Days-to-Cover Short Interest7.6 days
Basic Shares Quantity74.1 Mil
Short % of Basic Shares11.1%

Earnings Returns History

Updated 10/30/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/21/2026-4.2%-5.1% 
7/22/2026-2.9%-0.1%-0.5%
4/29/2026-3.2%-0.9%-4.6%
2/18/20265.6%4.6%-1.5%
10/22/2025-5.5%-8.6%-13.8%
7/23/20253.1%2.6%0.6%
4/30/20250.1%-2.4%-3.0%
2/12/2025-1.6%2.6%-17.5%
...
SUMMARY STATS   
# Positive141212
# Negative111312
Median Positive2.8%4.0%4.2%
Median Negative-2.2%-3.1%-4.1%
Max Positive10.6%9.2%23.4%
Max Negative-5.5%-8.6%-17.5%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/21/2026-4.2%-5.1% 
7/22/2026-2.9%-0.1%-0.5%
4/29/2026-3.2%-0.9%-4.6%
2/18/20265.6%4.6%-1.5%
10/22/2025-5.5%-8.6%-13.8%
7/23/20253.1%2.6%0.6%
4/30/20250.1%-2.4%-3.0%
2/12/2025-1.6%2.6%-17.5%
10/23/202410.6%9.2%18.4%
7/24/20248.8%7.5%9.4%
4/24/20244.7%1.3%-3.7%
2/14/20241.6%2.4%0.7%
10/25/2023-1.2%-0.9%6.7%
7/26/20231.9%3.6%-0.9%
4/26/20231.9%4.8%8.3%
2/15/2023-4.1%-3.9%-17.4%
10/25/20222.4%4.4%1.1%
7/26/20220.1%-1.3%0.3%
4/26/20221.0%-3.1%-12.8%
2/15/2022-0.0%-7.9%-6.0%
10/27/20214.3%2.4%-0.5%
7/28/20213.7%-3.5%1.7%
4/28/2021-0.6%-2.2%1.8%
2/10/2021-2.2%-3.3%11.1%
10/28/2020-0.3%8.7%23.4%
SUMMARY STATS   
# Positive141212
# Negative111312
Median Positive2.8%4.0%4.2%
Median Negative-2.2%-3.1%-4.1%
Max Positive10.6%9.2%23.4%
Max Negative-5.5%-8.6%-17.5%

SEC Filings

Expand for More
Report DateFiling DateFiling
09/30/202610/22/202610-Q
06/30/202607/23/202610-Q
03/31/202604/30/202610-Q
12/31/202502/19/202610-K
09/30/202510/23/202510-Q
06/30/202507/24/202510-Q
03/31/202505/01/202510-Q
12/31/202402/13/202510-K
09/30/202410/24/202410-Q
06/30/202407/25/202410-Q
03/31/202404/25/202410-Q
12/31/202302/15/202410-K
09/30/202310/26/202310-Q
06/30/202307/27/202310-Q
03/31/202304/27/202310-Q
12/31/202202/16/202310-K
Collapse to Preview
Report DateFiling DateFiling
09/30/202610/22/202610-Q
06/30/202607/23/202610-Q
03/31/202604/30/202610-Q
12/31/202502/19/202610-K
09/30/202510/23/202510-Q
06/30/202507/24/202510-Q
03/31/202505/01/202510-Q
12/31/202402/13/202510-K
09/30/202410/24/202410-Q
06/30/202407/25/202410-Q
03/31/202404/25/202410-Q
12/31/202302/15/202410-K
09/30/202310/26/202310-Q
06/30/202307/27/202310-Q
03/31/202304/27/202310-Q
12/31/202202/16/202310-K
09/30/202210/26/202210-Q
06/30/202207/27/202210-Q
03/31/202204/27/202210-Q
12/31/202102/16/202210-K
09/30/202110/28/202110-Q
06/30/202107/29/202110-Q
03/31/202104/29/202110-Q
12/31/202002/12/202110-K
09/30/202010/29/202010-Q
06/30/202007/29/202010-Q
03/31/202005/05/202010-Q
12/31/201902/13/202010-K

Recent Forward Guidance

Updated 10/26/2026

Latest: Q3 2026 Earnings Reported 10/21/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Rooms GrowthReported 4.0%  -0.2%LoweredGuidance: 4.25% for 2026
2026 Global RevPAR GrowthReported0.5%0.75%1.0% 0.2%RaisedGuidance: 0.5% for 2026
2026 Depreciation and Amortization ExpenseReported34.00 Mil35.00 Mil36.00 Mil   
2026 Development Advance Notes Amortization ExpenseReported34.00 Mil35.00 Mil36.00 Mil   
2026 Stock-Based Compensation ExpenseReported39.00 Mil40.00 Mil41.00 Mil   
2026 Development Advance NotesReported 110.00 Mil    
2026 Net RevenuesReported1.48 Bil1.49 Bil1.50 Bil0.2% RaisedGuidance: 1.49 Bil for 2026
2026 Adjusted EBITDAReported740.00 Mil742.50 Mil745.00 Mil0.3% RaisedGuidance: 740.00 Mil for 2026
2026 Interest Expense, NetReported144.00 Mil145.00 Mil146.00 Mil   
2026 Adjusted Income Before Income TaxesReported483.00 Mil487.50 Mil492.00 Mil   
2026 Income Tax ExpenseReported120.00 Mil121.50 Mil123.00 Mil   
2026 Adjusted Net IncomeReported363.00 Mil366.00 Mil369.00 Mil1.7% RaisedGuidance: 360.00 Mil for 2026
2026 Adjusted Diluted EPSReported4.844.884.922.3% RaisedGuidance: 4.77 for 2026
2026 Diluted SharesReported 74.90 Mil    
2026 Capital ExpendituresReported40.00 Mil42.50 Mil45.00 Mil   
2026 Free Cash Flow Conversion RateReported0.550.580.6 0.0%AffirmedGuidance: 0.58 for 2026


Prior: Q2 2026 Earnings Reported 7/22/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Global RevPAR GrowthReported0.0%0.5%1.0% 0.5%RaisedGuidance: 0.0% for 2026
2026 Number of Rooms GrowthReported4.0%4.25%4.5% 0AffirmedGuidance: 4.25% for 2026
2026 RevenueReported1.48 Bil1.49 Bil1.50 Bil0 AffirmedGuidance: 1.49 Bil for 2026
2026 Adjusted EBITDAReported735.00 Mil740.00 Mil745.00 Mil0.3% RaisedGuidance: 737.50 Mil for 2026
2026 Adjusted Net IncomeReported355.00 Mil360.00 Mil365.00 Mil0.6% RaisedGuidance: 358.00 Mil for 2026
2026 Adjusted Diluted EPSReported4.714.774.831.3% RaisedGuidance: 4.71 for 2026
2026 Free Cash Flow Conversion RateReported0.550.580.6 0AffirmedGuidance: 0.58 for 2026

Q1 2026 Earnings Reported 4/29/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Rooms GrowthReported4.0%4.25%4.5% 0.0%AffirmedGuidance: 4.25% for 2026
2026 Global RevPAR GrowthReported-1.0%0.0%1.0% 0.5%RaisedGuidance: -0.5% for 2026
2026 Net RevenuesReported1.47 Bil1.49 Bil1.50 Bil1.0% RaisedGuidance: 1.47 Bil for 2026
2026 Adjusted EBITDAReported730.00 Mil737.50 Mil745.00 Mil0.0% AffirmedGuidance: 737.50 Mil for 2026
2026 Adjusted Net IncomeReported351.00 Mil358.00 Mil365.00 Mil-0.8% LoweredGuidance: 361.00 Mil for 2026
2026 Adjusted Diluted EPSReported4.624.714.80.0% AffirmedGuidance: 4.71 for 2026
2026 Free Cash Flow Conversion RateReported0.550.580.6 0.0%AffirmedGuidance: 0.58 for 2026

Q4 2025 Earnings Reported 2/18/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Global RevPAR growthReported-1.5%-0.5%0.5% 2.0%Higher NewActual: -2.5% for 2025
2026 Number of rooms growthReported4.0%4.25%4.5% -0.0%Lower NewActual: 4.3% for 2025
2026 Fee-related and other revenuesReported1.46 Bil1.47 Bil1.49 Bil2.1% Higher NewActual: 1.44 Bil for 2025
2026 Adjusted EBITDAReported730.00 Mil737.50 Mil745.00 Mil2.4% Higher NewActual: 720.00 Mil for 2025
2026 Adjusted net incomeReported354.00 Mil361.00 Mil368.00 Mil2.4% Higher NewActual: 352.50 Mil for 2025
2026 Adjusted diluted EPSReported4.624.714.83.5% Higher NewActual: 4.55 for 2025
2026 Free cash flow conversion rateReported0.550.580.6 0.5%Higher NewActual: 0.57 for 2025

Insider Activity

Updated 10/27/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Ballotti, Geoffrey APresident and CEODirectSell1019202673.6919,2951,421,82540,562,501Form
2Ballotti, Geoffrey APresident and CEODirectSell819202672.7119,4141,411,57639,940,836Form
3Ballotti, Geoffrey APresident and CEODirectSell617202680.7918,5161,495,97844,299,898Form
4Rossi, NicolaChief Accounting OfficerDirectSell508202685.197,055601,045272,451Form
5Melancon, MonicaChief Human Resource OfficerDirectSell312202674.708,861661,9321,526,529Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Ballotti, Geoffrey APresident and CEODirectSell1019202673.6919,2951,421,82540,562,501Form
2Ballotti, Geoffrey APresident and CEODirectSell819202672.7119,4141,411,57639,940,836Form
3Ballotti, Geoffrey APresident and CEODirectSell617202680.7918,5161,495,97844,299,898Form
4Rossi, NicolaChief Accounting OfficerDirectSell508202685.197,055601,045272,451Form
5Melancon, MonicaChief Human Resource OfficerDirectSell312202674.708,861661,9321,526,529Form
6Strickland, Scott RChief Commercial OfficerDirectSell309202680.366,500522,3403,506,830Form
7Ballotti, Geoffrey APresident and CEODirectSell116202679.2755,1244,369,82538,845,812Form
8Strickland, Scott RChief Commercial OfficerDirectSell1210202571.1128,1342,000,6092,870,213Form
9Strickland, Scott RChief Commercial OfficerDirectSell1210202572.2596970,0102,916,227Form
10Cash, Paul FGeneral Counsel & Corp. Secy.DirectSell1114202571.6636,3792,606,9192,803,554Form

Investor Activity (13F)

Updated Oct 31, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
GRS Advisors, LLC$61.2 Mil6.1%32TRIM -16.8%13F
Long Pond Capital, LP$57.0 Mil5.8%32ADD +107.7%13F
Benchstone Capital Management LP$21.8 Mil2.5%38New13F
Sophron Capital Management L.P.$6.9 Mil2.0%41TRIM -34.0%13F
Harvey Partners, LLC$9.8 Mil0.8%45New13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Benchstone Capital Management LP$21.8 Mil2.5%38New13F
Harvey Partners, LLC$9.8 Mil0.8%45New13F
Long Pond Capital, LP$57.0 Mil5.8%32ADD +107.7%13F
Active ManagerValue% of PortfolioTotal PositionsQoQAs OfFiling
Gates Capital Management, Inc.$56.4 Mil2.0%28ExitedDec 31, 202513F
Range Rock Capital, LLC$6.1 Mil2.1%26ExitedDec 31, 202513F
Sophron Capital Management L.P.$6.9 Mil2.0%41TRIM -34.0%Mar 31, 202613F
GRS Advisors, LLC$61.2 Mil6.1%32TRIM -16.8%Mar 31, 202613F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
GRS Advisors, LLC$61.2 Mil6.1%32TRIM -16.8%13F
Long Pond Capital, LP$57.0 Mil5.8%32ADD +107.7%13F
Benchstone Capital Management LP$21.8 Mil2.5%38New13F
Harvey Partners, LLC$9.8 Mil0.8%45New13F
Sophron Capital Management L.P.$6.9 Mil2.0%41TRIM -34.0%13F
Core Cache Last Updated: 10/30/2026