Wyndham Hotels & Resorts announced strong third-quarter 2024 results on October 23, 2024, with comparable adjusted EBITDA growing 7% year-over-year. The company's global system expanded by 4%, driven by 1% growth in the U.S. and 8% internationally, including a 3% increase in higher RevPAR midscale and above segments in the U.S.
The global development pipeline reached a record high of approximately 2,100 hotels and 248,000 rooms, representing a 5% year-over-year increase. Global RevPAR increased 1% in constant currency, with international RevPAR up 7%, while U.S. RevPAR declined 1%. U.S. economy brands gained 50 basis points of market share.
Net income for the quarter was $102 million, and non-GAAP profit was $1.39 per share. The company generated $79 million in net cash from operating activities and $96 million in adjusted free cash flow. Wyndham repurchased approximately 1.3 million shares for $97 million during the quarter and paid $29 million in common stock dividends.
For the full year 2024, Wyndham refined its outlook, raising its adjusted diluted EPS guidance to a range of $4.22 to $4.34 from the prior $4.20 to $4.32. The company reaffirmed its expectations for 3-4% year-over-year rooms growth, approximately flat global RevPAR growth, and fee-related and other revenues between $1.41 billion and $1.43 billion.
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