Wyndham Raises 2026 Outlook as U.S. RevPAR Grew 6% in the Third Quarter

Wyndham Hotels & Resorts lifted its 2026 outlook for adjusted EBITDA and adjusted diluted EPS on October 21, after U.S. revenue per available room grew 6% in the third quarter from a year earlier, even though reported third-quarter net income fell 6% to $99 million as marketing-fund timing reversed.

Guidance rises as the revenue range holds

Wyndham now guides 2026 adjusted EBITDA of $740 million to $745 million, against $735 million to $745 million previously, so the floor rose to $740 million while the ceiling held at $745 million. A footnote on that line says the range includes deferred Revo royalty and franchise fees plus the lapping of 2025 one-time cost cuts, and that excluding both the comparable-basis growth rate would be roughly 6% to 7%. Adjusted diluted EPS guidance moved to $4.84 to $4.92 from $4.71 to $4.83, lifting the midpoint to $4.88 from $4.77. Net revenue guidance is unchanged at $1.48 billion to $1.5 billion, and free cash flow conversion stays at 55% to 60%. The rooms target narrows to about 4% from 4.0% to 4.5%, while global RevPAR guidance tightens to growth of 0.5% to 1.0% from 0.0% to 1.0%.

U.S. RevPAR carries a quarter that China weighs on

Third-quarter net revenues rose 7% to $410 million from $382 million a year earlier, and royalties and franchise fees rose 6% to $156 million. U.S. RevPAR was $58.35, up 6% year over year from $55.07 and above the $54.50 recorded in the second quarter, which the company said reflected better occupancy and daily rates across nearly all regions. Global RevPAR rose 2% year over year in constant currency to $51.13. International RevPAR fell 3% year over year in constant currency to $41.79: Canada rose 7%, Latin America and EMEA each rose 2%, and Greater China fell 10%. Chief Executive Geoff Ballotti said "We delivered broad-based U.S. RevPAR growth outperforming our initial expectations, as well as market share gains." The development pipeline, excluding Revo, reached a record of approximately 264,000 rooms, and global rooms of 877,400 were up 3% year over year as reported.

Marketing-fund timing splits reported from comparable results

The gap between reported and comparable results comes from marketing funds: revenue exceeded expenses by $1 million in the third quarter of 2026, against $18 million a year earlier. Reported adjusted EBITDA fell 3% to $207 million from $213 million, but rose 5% once that swing is set aside. Net income fell 6% to $99 million, and adjusted diluted EPS was $1.43 against $1.46, down 2% as reported and up about 9% on the same comparable basis. Across the first nine months, adjusted EBITDA summed to $575 million, against $553 million a year earlier.

Buybacks, leverage and the cash behind them

Operating cash flow was $93 million and free cash flow $100 million in the quarter. Wyndham bought back about 1.2 million shares for $91 million at an average of $73.39, a 30% increase in dollars year over year, and paid $32 million of dividends at $0.43 a share. The board added $400 million to its share repurchase authorization. Net debt stood at $2.66 billion, with a leverage ratio of 3.6 times inside the company's 3-to-4 times target.

The October 22 call and the assumptions inside the outlook

Wyndham holds its third-quarter call on Thursday, October 22, 2026, at 8:30 a.m. Eastern. The outlook assumes fourth-quarter domestic RevPAR roughly in line with the third quarter, and the company notes that each 1% change in RevPAR equates to about $10 million of net revenues and $4 million of adjusted EBITDA. The rooms target excludes any termination impact from Revo Hospitality Group's insolvency, and the release carries no consensus estimate or share-price reaction, so it cannot establish a beat or a miss. The quarterly release filed with the Securities and Exchange Commission on October 21 is the only document behind these figures.