Wyndham Is Finally Harnessing Its Global Scale Via Loyalty
Skift Take
Wyndham might not have 30 hotel brands like Marriott, but it does have the world's largest timeshare business and a pretty robust vacation rental business, too. Leveraging the power of all three of its businesses just makes us wonder: Why haven't they tried to do this before?
Wyndham Worldwide's first quarter earnings were, as CEO Stephen P. Holmes noted, "right in line with our expectations" and those expectations support a major strategy designed to synergize all three of the company's businesses: hotels, timeshares, and vacation rentals.
The Numbers
For the first quarter of 2017, Wyndham Worldwide reported earnings totaling $1.3 billion, up 1 percent from the same period last year. Net income was $141 million, compared to $96 million in 2016.
The Wyndham Hotel Group saw revenues of $298 million, compared to $295 million in 2016, boosted by higher fees from franchise properties and more sign-ups for the Wyndham Rewards credit card program. However, the company lost some $3 million from lower occupancy numbers at the company's owned Wyndham Grand Rio Mar Beach Resort & Spa in Puerto Rico, which the company attributed to lingering consumer fears regarding the Zika virus.
The Wyndham Destination Network had reve
