Earnings release
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Exhibit 99.1 WYNDHAM HOTELS & RESORTS WYNDHAM HOTELS & RESORTS REPORTS SECOND QUARTER 2021 RESULTS Company Increases Quarterly Dividend 50 % and Provides Full Year 2021 Outlook PARSIPPANY , N.J. , July 28 , 2021 - Wyndham Hotels & Resorts ( NYSE : WH ) today announced results for the three months ended June 30 , 2021. Highlights include : • Second quarter diluted earnings per share was $ 0.73 compared to diluted loss per share of $ 1.86 in second quarter 2020 ; second quarter adjusted diluted EPS was $ 0.95 compared to adjusted diluted EPS of $ 0.10 in second quarter 2020 . Second quarter net income was $ 68 million compared to a net loss of $ 174 million in second quarter 2020 ; second quarter adjusted net income was $ 89 million compared to adjusted net income of $ 9 million in second quarter 2020 . Second quarter adjusted EBITDA was $ 168 million compared to adjusted EBITDA of $ 66 million in second quarter 2020 . Second quarter net cash provided by operating activities was $ 116 million and free cash flow was $ 104 million compared to net cash used in operating activities of $ 57 million and free cash flow of $ ( 68 ) million in second quarter 2020 . Global RevPAR increased 110 % compared to second quarter 2020 and declined 17 % compared to second quarter 2019 in constant currency . Paid quarterly cash dividend of $ 0.16 per share in second quarter and Board of Directors recently authorized a 50 % increase in the quarterly cash dividend to $ 0.24 per share beginning with the dividend expected to be declared in third quarter 2021 . Company provides full - year 2021 outlook . " With continued increasing demand from our leisure and everyday business travelers , our select - service franchise business model generated another strong quarter of adjusted EBITDA and cash flow , allowing us to increase our dividend by 50 % , " said Geoffrey A. Ballotti , president and chief executive officer . “ Our brands continue to capture market share gains above pre - pandemic levels , while our economy brands here in the U.S. actually exceeded 2019 RevPAR for the quarter . We opened over 70 % more rooms than we did last year while growing our development pipeline by 6 % vs. prior year , and by 2 % sequentially - to over 190,000 rooms . We are extremely proud of all that our team members around the world have achieved , as they remain focused on delivering exceptional value for our owners , guests and shareholders . " Fee - related and other revenues increased 67 % to $ 321 million , compared to $ 192 million in the second quarter of 2020 primarily reflecting the ongoing recovery in travel demand and its impact on global RevPAR , which has now recovered to 83 % of 2019 levels , including domestic RevPAR at 95 % of 2019 levels .