Wyndham Rewards Business has seen the weekly pace of applications double since the program was introduced in April, according to Geoff Ballotti, CEO, speaking on a second quarter earnings call. He said it’s important to have tools like the loyalty plan, especially as the company increases its field sales teams to go after small and midsized enterprises. The program is “a big, big tool in their hands to help when they’re talking to an account,” said Ballotti.
Corporate clients can earn points through Wyndham Rewards Business, but stays must be booked through Wyndham’s app, websites, other direct channels or global distribution systems; commissionable rates are not eligible for points.
Otherwise, the company’s second quarter revenue per available room (RevPAR) held steady year over year, while the company reduced its full-year outlook, citing a more sluggish recovery than expected.
Wyndham’s second-quarter US occupancy increased 1% year over year, the first such increase since the second quarter of 2022, Ballotti said. Michele Allen, CFO, said the operator expected additional domestic occupancy increases for the remainder of 2024.
RevPAR in the second quarter increased 0.3% to $55.44, while net revenue increased to $367 million from $362 million one year prior. Net income was $86 million, up from $70 million one year ago.
The company’s pipeline as of June 30 included nearly 2,000 hotels and about 245,000 rooms, up about 7% year over year. Echo, Wyndham’s new economy extended-stay brand, makes up about 14% of the pipeline.
