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Actual EBITDA in Third Quarter Hotel Operating Statistics |
DALLAS, TX (November 7, 2000) - Wyndham International, Inc. (NYSE: WYN)
today reported strong results for the quarter ended September 30, 2000,
driven by a 6.5% improvement in RevPAR along with record third quarter
occupancy. On a pro forma basis, which reflects adjustments for asset
acquisitions and dispositions, earnings before interest, taxes, depreciation
and amortization (EBITDA), as adjusted, increased 13.9% to $131.9 million
in the third quarter of 2000 from $115.8 million in the same period a year
ago. Actual EBITDA, as adjusted, was $132.3 million, up 5.0% from
actual EBITDA of $126.0 million reported in the third quarter of 1999.
These results exceeded analyst expectations.
Solid Operating Performance The company�s third quarter results were paced by the solid performance of owned and leased Wyndham-branded hotels, which registered a 13.8% EBITDA growth on a 6.9% RevPAR increase. On an owned, leased and managed basis, performance was led by Wyndham Hotels and Resorts, which achieved comparable RevPAR growth of 8.1%. Summerfield Suites by Wyndham posted a RevPAR gain of 7.3% while Wyndham Luxury Resorts experienced a 3.2% RevPAR gain in the third quarter. �We were particularly encouraged by the significant strength among our owned, leased and managed Wyndham Hotels, which had a RevPAR increase of 9.9%. This reflects our continued success in selling to the business transient and group markets, as evidenced by an occupancy increase of 3.6 percentage points,� said Ted Teng, president and chief operating officer. �In what is traditionally the slowest period for our resorts, our Caribbean and Florida properties posted a 4.6% RevPAR gain over the same period a year ago.� |
NOTE: All hotel statistics exclude
assets sold to date.
(a) Brand statistics are based on comparable owned, managed and leased hotels for respective periods. (b) Reflects results of the Boulders, Carmel Valley Ranch, the Lodge at Ventana Canyon, and Isla Navidad. (c) Reflects Wyndham Hotels & Resorts, Wyndham Luxury Resorts, Summerfield by Wyndham and Wyndham Garden Hotels that were branded as of July 1, 1999 and January 1, 1999, respectively. (d) Non-proprietary brand hotels owned by the Company as of July 1, 1999 and January 1, 1999, respectively. Results include assets held for sale. Wyndham International, Inc. (NYSE: WYN) offers upscale and luxury hotel and resort accommodations through proprietary lodging brands and a management services division. Based in Dallas, Wyndham International owns, leases, manages and franchises hotels and resorts in the United States, Canada, Mexico, the Caribbean and Europe. This press release contains certain forward-looking statements within the meaning of Sections 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including projections about future operating results. |
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Fred Stern VP Corp. Communications 214.863.1258 Elizabeth Williams SVP Finance/Investor Relations 214.863.1265 www.wyndham.com |