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WYNDHAM HOTELS & RESORTS WYNDHAM HOTELS & RESORTS REPORTS FIRST QUARTER 2021 RESULTS Company Updates 2021 Projections PARSIPPANY , N.J. , April 28 , 2021 - Wyndham Hotels & Resorts ( NYSE : WH ) today announced results for the three months ended March 31 , 2021. Highlights include : • • • • Diluted earnings per share was $ 0.26 , and adjusted diluted earnings per share was $ 0.36 . Net income was $ 24 million and adjusted net income was $ 33 million . Adjusted EBITDA was $ 97 million . Generated $ 64 million of net cash provided by operating activities and $ 59 million of free cash flow . Global RevPAR declined 11 % compared to first quarter 2020 and 31 % compared to first quarter 2019 in constant currency . • Paid quarterly cash dividend of $ 0.16 per share . • • Redeemed all $ 500 million aggregate principal amount of its outstanding 5.375 % Senior Notes due 2026 on April 15 , 2021 . Company updates its previous 2021 projections . " Wyndham's select - service franchise business model delivered a strong start to 2021 as leisure customers hit the road at a pace not experienced since the pandemic started and demand from our everyday business travelers continued to accelerate , " said Geoffrey A. Ballotti , president and chief executive officer . " We were very pleased to see our development pipelines grow sequentially , both domestically and internationally , and our room openings and deletions improve year - over - year . We were also encouraged to see conversion room openings increase year - over - year , representing over 70 % of total openings this quarter . " Revenues declined from $ 410 million in the first quarter of 2020 to $ 303 million in the first quarter of 2021. The decline includes lower pass - through cost - reimbursement revenues of $ 55 million in the Company's hotel management business , which have no impact on adjusted EBITDA . Excluding cost - reimbursement revenues , revenues declined $ 52 million primarily reflecting an 11 % decline in constant - currency global RevPAR . The Company generated net income of $ 24 million , or $ 0.26 per diluted share , compared to $ 22 million , or $ 0.23 per diluted share , in the first quarter of 2020. The increase of $ 2 million , or $ 0.03 per diluted share , was a result of the Company's COVID - 19 cost mitigation plan implemented in April 2020 , lower volume - related expenses and the absence of restructuring and transaction - related expenses , which were partially offset by the global RevPAR decline .