- Strong Top-Line Momentum
- Increases Full-Year EPS Guidance
- Announces Plan To Become Two Publicly Traded Hospitality Companies
Hospitality group Wyndham Worldwide Corp. plans to separate its hotel and timeshare businesses into two publicly traded companies, according to people familiar with the matter, following other large hotel corporations including Marriott International Inc. and Hilton Worldwide Holdings Inc. that also separated their timeshare businesses in recent years.
The company hasn’t determined the names of the two companies, these people said, and the deal is subject to final approval by Wyndham’s board.
SECOND QUARTER 2017 OPERATING RESULTS
Second quarter revenues were $1.5 billion, up 5% compared with the prior year period. Full reconciliations of GAAP results to non-GAAP measures for all reported periods appear in the tables to this press release.
As of June 30, 2017, the Company's hotel system consisted of over 8,100 properties and approximately 705,700 rooms, a 3.3% net room increase compared with the second quarter of 2016. The development pipeline increased to nearly 1,230 hotels and over 150,800 rooms, an 18% year-over-year room increase, of which 57% were international and 67% were new construction.
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