PARSIPPANY, N.J., Feb. 29,
2024 /PRNewswire/ -- Wyndham Hotels &
Resorts, Inc. (NYSE: WH) announced today its Board of
Directors declared a quarterly cash dividend of $0.38 per share on its common stock, payable
March 29, 2024 to shareholders of
record as of March 15, 2024.
The cash dividend represents a 9% increase from the $0.35 per share quarterly dividend paid during
2023.
About Wyndham Hotels & Resorts
Wyndham Hotels
& Resorts (NYSE: WH) is the world's largest hotel franchising
company by the number of properties, with approximately 9,200
hotels across over 95 countries on six continents. Through
its network of approximately 872,000 rooms appealing to the
everyday traveler, Wyndham commands a leading presence in the
economy and midscale segments of the lodging industry. The
Company operates a portfolio of 24 hotel brands, including Super
8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®,
AmericInn®, Hawthorn Suites®, Trademark Collection® and
Wyndham®. The Company's award-winning Wyndham Rewards loyalty
program offers over 106 million enrolled members the opportunity to
redeem points at thousands of hotels, vacation club resorts and
vacation rentals globally. For more information, visit
www.wyndhamhotels.com. The Company may use its website as a
means of disclosing material non-public information and for
complying with its disclosure obligations under Regulation
FD. Disclosures of this nature will be included on the
Company's website in the Investors section, which can currently be
accessed at https://investor.wyndhamhotels.com. Accordingly,
investors should monitor this section of the Company's website in
addition to following the Company's press releases, filings
submitted with the Securities and Exchange Commission and any
public conference calls or webcasts.
Forward-Looking Statements
This press release
contains "forward-looking statements" within the meaning of the
federal securities laws, including statements related to the
Company's quarterly dividend. The Company claims the
protection of the Safe Harbor contained in the Private Securities
Litigation Reform Act of 1995 for forward looking statements.
Forward-looking statements include those that convey management's
expectations as to the future based on plans, estimates and
projections at the time the Company makes the statements and
may be identified by words such as "will," "expect," "believe,"
"plan," "anticipate," "intend," "goal," "future," "outlook,"
"guidance," "target," "objective," "estimate," "projection" and
similar words or expressions, including the negative version of
such words and expressions. Forward-looking statements involve
known and unknown risks, uncertainties and other factors, which may
cause the actual results, performance or achievements of the
Company to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. You are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release.
Factors that could cause actual results to differ materially
from those in the forward-looking statements include, without
limitation, factors relating to the unsolicited exchange offer by
Choice to acquire all outstanding shares of our common stock (the
"Exchange Offer"), including actions taken by Choice in connection
with such offer, actions taken by Wyndham or its stockholders in
respect of the Exchange Offer or other actions or developments
involving Choice, such as a potential proxy contest, the completion
or failure to complete the Exchange Offer, the effects of such
offer on our business, such as the cost, loss of time and
disruption; general economic conditions, including inflation,
higher interest rates and potential recessionary pressures; global
or regional health crises or pandemics (such as the COVID-19
pandemic), including the resulting impact on the Company's business
operations, financial results, cash flows and liquidity, as well as
the impact on its franchisees, guests and team members, the
hospitality industry and overall demand for and restrictions on
travel; the performance of the financial and credit markets; the
economic environment for the hospitality industry; operating risks
associated with the hotel franchising business; the Company's
relationships with franchisees; the impact of war, terrorist
activity, political instability or political strife, including the
ongoing conflicts between Russia
and Ukraine and between
Israel and Hamas; the Company's
ability to satisfy obligations and agreements under its outstanding
indebtedness, including the payment of principal and interest and
compliance with the covenants thereunder; risks related to the
Company's ability to obtain financing and the terms of such
financing, including access to liquidity and capital; and the
Company's ability to make or pay, plans for, and the timing and
amount of any future share repurchases and/or dividends, as well as
the risks described in the Company's most recent Annual Report on
Form 10-K filed with the Securities and Exchange Commission and any
subsequent reports filed with the Securities and Exchange
Commission. The Company undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, subsequent events or otherwise, except as required by
law.
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SOURCE Wyndham Hotels & Resorts