Wyndham Worldwide, the world's largest hotel franchiser, has announced a 24% increase in lodging revenues in 2006 with franchise fees up 15% and revpar up nearly 13%.
The fourth quarter saw a slight slowing of this growth with revenues up 6% and revpar up 7%. But EBITDA is still forecast to come in at between $820m and $855m in 2007, compared to the $762m in 2006.
The Wyndham system comprised nearly 6,500 properties with over 543,000 rooms. As with most of its rivals, it has a robust pipeline of 845 hotels accounting for 92,000 rooms. Hotels outside of the US account for 15% of the pipeline and 45% are new build.
Had Wyndham been a standalone company in 2005, its net income would have been $431m, although this excludes stand-alone corporate costs and interest. In 2006, the year that saw Wyndham separate from its parent company Cendant, net income was $352m.
Lodging is the smallest of Wyndham's three divisions with 2006 revenues of $661m compared to $1.1bn from timeshare exchange (RCI) and $2.1bn from timeshare (Wyndham Vacation Ownership).