Wyndham and Hyatt Earnings Tripped Up in New Ways
Photo Credit: A patio off a suite at the Park Hyatt New York. Hyatt Corporation
Skift Take
Wyndham had their typical quarter, but WH did say fighting off CHH is going to cost them about $75 million, while Hyatt gave a late-night press release that stated their 4Q results would be delayed because they have not finalized accounting relating to ALG’s Unlimited Vacation Club.
The DJIA was up 349 points while Nasdaq was up 47 and the S&P 500 rose 29 points. The 10-year treasury yield was down .03 to 4.24% and lodging stocks were higher. ABNB was up 6% to a new high while H also hit a new 52-week high water mark, up 5%. RHP was the other one that traded up to a new high. BHRwas the big winner, up 13% while SOND was up 10% and SVC rose 5% on the day.
Wyndham, on the surface, had their typical quarter, in-line with estimates, raised their dividend by 9% and bought back $127 million worth of stock. There was no update on Choice raising their offer but WH did say fighting off CHH is going to cost them about $75 million. JP Morgan said WH’s development pipeline was up 1% sequentially, indicating to them that hotel owners/developers have put WH in the “time-out chair” because of CHH’s hostile offer. Other analysts praised WH for keeping the pipeline growing despite the CHH distraction.
Hyatt gave
