Wyndham Worldwide Corporation, the franchisor of Days Inn hotels and Super 8 hotels, has reported higher second-quarter earnings and raised its 2010 forecast.
Net income for the second quarter climbed 34% from a year earlier to $95m. Second-quarter revenue increased 5% to $963m. Revpar at the lodging business fell 1.2% but revenue from the timeshare business rose 8.1%, the company said. Full-year revenue is expected to total $3.7bn to $4bn, up from a previous forecast of $3.6bn to $3.9bn. Wyndham predicts revpar will rise as much as 3% in 2010, compared with the previous projection of flat to down 3%. The company, which recently bought Tryp from Sol Melia Hotels & Resorts, said it is likely to acquire more brands to secure revenue from fee-for-service business, which include franchising hotels.
See the full results here: http://www.wyndhamworldwide.com/media_center/pr/show_release.cfm?id=779