Truman and Marriott to bring three high‑profile hotel brands to Calgary
W Calgary, JW Marriott and Autograph Collection hotel to anchor landmark $1.47B development in Culture + Entertainment District
Including a strong close to the year when the company delivered adjusted EBITDA that reportedly exceeded outlooks.
Wyndham Hotels & Resorts has reported its fourth quarter and full-year 2022 earnings including a strong close to the year where the company delivered adjusted (earnings before interest, taxes, depreciation, and amortization) EBITDA that reportedly exceeded outlooks. Wyndham generated significant free cash flow and returned a record amount of capital to shareholders. Additional highlights include:
A summary of fourth quarter and full-year 2022 results is as follows. Note that the sale of Wyndham’s two owned hotels and the exit of our select-service management business unfavourably impacted the year-over-year comparability of fee-related and other revenues and adjusted EBITDA by $38 million and $12 million, respectively for the fourth quarter and $125 million and $37 million, respectively for the full-year.
The full-year 2023 outlook:
Year-over-year growth rates are not comparable due to the exit of the company’s select-service management business, the sale of its two owned hotels during 2022 and the variability in marketing funds due to the COVID support that Wyndham provided to owners during 2020. On a comparable basis, the 2023 outlook reflects approx. seven per cent growth for fee-related and other revenues and approx. five per cent growth for adjusted EBITDA at the midpoints.
W Calgary, JW Marriott and Autograph Collection hotel to anchor landmark $1.47B development in Culture + Entertainment District
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