• Wyndham’s new-build supply

The current benign supply environment may not have that much longer to run, if the big corporates are to hit their growth targets.

Last week Wyndham said that 46% of its 100,000 pipeline was new build, with 25% of that international.

The company, which is predominately a budget player, had 541,700 rooms at 6,460 hotels at the end of its second quarter. This makes it the largest US hotelier by room numbers and the world’s largest hotel franchiser.

Revpar for the quarter was up 5.1% on a comparable basis and hotel revenues were up 6% to $186m. The other (larger) two parts of Wyndham’s business, timeshare exchange (RCI) and timeshare ownership sales, also reported strong results.

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