Geoffrey Ballotti, Wyndham Hotels and Resorts CEO, stated Thursday that business travel demand for logistics and infrastructure (including trucking) increased in the second half of 2019, compared to levels recorded in 2019.
Ballotti stated that “our infrastructure, construction, and logistic accounts continue to outperform other white-collar group segments and business transit” and added that the demand for infrastructure increased 23% from the first quarter 2019, while demand for logistics and trucking increased 11%.
“We believe business coming from smaller and mid-sized businesses in these sectors will continue to grow faster than that from corporate groups and convention travel. This is a belief we hold,” Ballotti stated. Ballotti said that Wyndham’s infrastructure bill, currently being considered by the U.S. Senate, could increase demand for those segments.
The global second quarter revenue per room available for Wyndham fell 17 percent from the second-quarter 2019 level of $36.92 to $36.92 but grew 5 percent in domestic currency.
CFO Michele Allen stated that domestic RevPAR (Revenue Per Annum) for Wyndham’s brands of economy in June and July has exceeded 2019, during the conference call.
Wyndham still projects 2021 full-year RevPAR drops of 16 percent compared to 2019, which Ballotti attributes to slower recovery in certain overseas locations.
Wyndham had 799,000 rooms worldwide as of June 30, compared to 795,000 Dec. 30, 2020. The number of rooms in the United States decreased by approximately 2,500 over that time to 484,800. Wyndham had over 1,400 hotels, 190,000. rooms, and more in development as of June 30, with 64 percent being outside of the United States, and 74 new build.
Wyndham’s $206 million second-quarter revenues was 57% higher than that of the 2nd quarter 2020.
Publiated at Thu 29 July 2021, 20:39:22 (+0000).