Wyndham Worldwide: Excellent Business, A Buyback Gondola No-Brainer
Time & Model • 10 Comments
Time & Model • 10 Comments
Wed, Jul. 27, 7:52 AM
- Wyndham Worldwide (NYSE:WYN) reports revenue rose 1% in Q2 on a constant currency basis and excluding acquisitions.
- Service and membership fees grew 1.4% to $632M.
- Segment revenue: Hotel Group: $334M (flat); Destination Network: $384M (flat, +1% on a constant currency basis ); Vacation Ownership: $705M (+1%).
- Domestic REVPAR increased 2% Y/Y.
- Adjusted EBITDA increased 2.4% to $340M.
- FY2016 Guidance: Revenues: ~$5.65B to $5.8B; Adjusted EBITDA: $1.375B to $1.4B; Adjusted net income: ~$635M to $650M; Adjusted EPS: ~$5.68 to $5.82; Diluted share count: 112M.
- WYN -1.22% premarket.
Wed, Jul. 27, 6:33 AM
Tue, Jul. 26, 5:30 PM
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Thu, Jul. 14, 8:08 AM| Thu, Jul. 14, 8:08 AM | 1 Comment
Thu, Jul. 7, 2:57 PM
- Hilton Worldwide and Marriott International are offering better discounts to loyalty club members in a bid to lower the amount of payments doled out to online third-party services, according to the The Wall Street Journal.
- It's a trend that's likely to be followed across the industry as chains look to build stickiness with loyalty members.
- Many hotel operators have contracts with sites such as Priceline and Expedia that limit their ability to undercut pricing, with the important exception of loyalty members.
- Hotel and online stocks: BEL, CHH, EXPE, H, HLT, HMIN, HOT, IHG, MAR, STAY, WYN, TRIP, OWW, TZOO.
Wed, Jun. 29, 9:23 AM
- The all-cash deal works out to $30.25 per share, about 26% higher than yesterday's close and 58% above the price in February when the company announced its intention to look into a sale.
- There is no financing contingency, and the deal is expected to close over the next few months.
- SA contributor Chris DeMuth has suggested DRII could be worth $36-$39 per share to a buyer like Wyndham (NYSE:WYN).
- DRII +24% premarket to $29.82.
Wed, Jun. 8, 1:32 PM
- Wyndham Worldwide (WYN +0.6%) plans a major revitalization of brands, including changes at Super 8, Ramada, Travel Lodge, and Howard Johnson.
- The updates are strategically timed with U.S. supply seen fully stretched.
- U.S. pricing and international expansion are seen as the two major drivers of growth in the future for Wyndham.
Tue, May 10, 5:38 PM
Tue, Apr. 26, 6:32 AM
Mon, Apr. 25, 5:30 PM
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Tue, Mar. 22, 6:31 AM
- The tone of Westgate Resorts' petition to try to set aside the Civil Investigate Demand ("CID") issued by the Consumer Financial Protection Service ("CFPB"), combined with Westgate CEO's “political leanings,” suggest there may be a “protracted’ and ‘‘public enforcement battle’’ between the agency and Westgate - one that could affect the timeshare industry, Compass Point writes in a recent note.
- Firm says it's still "highly unlikely" that the CFPB is seeking to become the rulemaker for the timeshare industry, but notes that the CID "undermines" its original position that the agency isn't interested in the industry.
- Deutsche Bank also sees the news as an overhang for the industry:
- "While we won't attempt to convey a view on the ultimate findings of the CFPB investigation into Westgate's practices, we believe the following views are reasonable at this time; 1) we expect the investigation to be lengthy, 2) we think a lengthy review of timeshare practices, post recent negative mainstream media coverage, will serve as an overhang for the industry, and 3) we expect media scrutiny on the industry, stemming from the CFPB investigation, to intensify.""From what we could gather from public filings, the timeline of events appears to be roughly as follows: 1) the CFPB issues a CID (Civil Investigative Demand) on 9/29/15, 2) the parties participate in a conference call on 10/8/15, at which point the CFPB narrows the scope modestly, 3) Westgate requests modification of certain matters on 10/15/15, 4) Westgate serves the aforementioned Petition to Modify of Set Aside the CID on 10/19/15, 5) the CFPB denies the Petition to Modify or Set Aside on 3/11/16 and seeks the remaining withheld documents within 21 days, and 6) media outlets begin reporting on the matter on 3/18/16."
- Stocks in play: DRII, WYN
Mon, Mar. 21, 10:34 AM
- Diamond Resorts International (DRII -8.2%) and Wyndham Worldwide (WYN -4.6%) are both down sharply in early trading.
- Also slumping amid more Starwood-Marriott merger news is Marriott Vacations (VAC -1.7%) and Interval Leisure GRoup (IILG -1.7%), while Hyatt Hotels (H +2.9%) and Starwood Hotels & Resorts (HOT +4.1%) are higher.
- A regulatory order issued by the Consumer Financial Protection Service against privately-owned Westgate Resorts continues to be factor in the timeshare sector, while the expansion of hotel chains into Cuba is in the mix on the hotel side of the lodging business.
Wed, Mar. 9, 11:14 AM
- Number five on the list of top performers since the bear market's epic bottom seven years ago today is L Brands (NYSE:LB), which has returned 56% annually since. Coming in fourth is Under Armour (NYSE:UA), with a 59% annual return.
- In third place is Wyndham Worldwide (NYSE:WYN), with a 60% annual return, and in second is Regeneron (NASDAQ:REGN) which has gained 64% annually.
- The winner is previously left-for-dead General Growth Properties (NYSE:GGP), which was trading at $0.25 per share on March 9, 2009. At $28.30 today, the stock has returned 97% annually since (kudos Bill Ackman).
- Source: Barron's
Thu, Feb. 25, 4:51 PM
Wed, Feb. 17, 10:26 AM
- Consumer discretionary stocks associated with travel are higher as investors load up on some beat-up names after Priceline reported strong bookings growth.
- There's also a general sentiment that recession fears on Wall Street, don't necessarily add up to panic on main street.
- Notable gainers include InterContinental Hotels Group (IHG +5.4%), Stay America (STAY +4.5%), Marriott International (MAR +3%), Starwood Hotels & Resorts (HOT +3.4%), Caesars Entertainment (CZR +8.5%), Norwegian Cruise Line Holdings (NCLH +6.8%), Diamond Resorts International (DRII +6.3%), MGM Resorts (MGM +2.8%), United Continental (UAL +3.6%), Spirit Airlines (SAVE +5.6%), Delta Air Lines (DAL +3.3%), American Airlines Group (AAL +2.6%), Virgin America (VA +4.1%), Marriott Vacations (VAC +2.7%), Hyatt Hotels (H +3.2%), Wyndham Worldwide (WYN +3.4%), Southwest Airlines (LUV +3.6%), and Six Flags (SIX +3.2%).
- Previously: Priceline rallies after earnings shine (Feb. 17 2016)
- Previously: Priceline beats by $0.83, beats on revenue (Feb. 17 2016)
- Previously: Expedia, TripAdvisor rally following Priceline's Q4 beat, bookings improvement (Feb. 17 2016)
Tue, Feb. 9, 8:10 AM
- Wyndham Worldwide (NYSE:WYN) reports Service and membership fees rose 10.6% to $562M in Q4.
- Segment revenue: Hotel Group: $314M (+17.6%, +6% on a constant currency basis); Destination Network: $310M (-0.3%, +5% on a constant currency basis ); Vacation Ownership: $706M (+5.7%, +7% on a constant currency basis).
- Domestic REVPAR increased 2.9% Y/Y.
- Adjusted operating margin rate grew 10 bps to 15.7%.
- FY2016 Guidance: Revenues: ~$5.8B to $5.95B; Adjusted EBITDA: $1.375B to $1.4B; Adjusted EPS: ~$5.46 to $5.60; Diluted share count: 116M.
Wyndham Worldwide Corp. offers individual consumers and business customers a broad array of hospitality services and products across various accommodation alternatives through its portfolio of brands. It operates through three business segments: Lodging, Vacation Exchange & Rentals, and Vacation... More
Country: United States
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