Truist Bullish on Wyndham Hotels' Growth and Economic Outlook
Photo Credit: A rendering of the exterior of Wyndham's concept for an economy extended stay brand. Wyndham
Skift Take
Truist is optimistic about Wyndham Hotels' new developments, RevPAR growth, and brand launches, highlighting a strong positive outlook on the economy and travel spending, with franchisees highly confident.
The DJIA rose 66 points while Nasdaq was up 38, the S&P 500 rose 13 points and the 10-year treasury yield was down more than .02 to 4.41%. Lodging stocks were mixed. VCSA rose 11%, SOND was up 7%, and BHR fell -5% on the day.
Truist reported on investor meetings they held with Wyndham Hotels at their headquarters. Truist said they find W.H.’s new hotel pipeline/development and RevPAR moving in the right direction and find shares very attractive at these levels. They found W.H. to be very positive about the development and macroeconomic environment, including consumer spending on travel. W.H. is super bullish on the Economy, even if others are not. They find W.H. trying to fill in the remaining white space with new brand launches such as ECHO Suites. W.H. suggested its franchisees are very bullish, at an 8 or 9 out of a 10-point scale
