By Ben Glickman
Wyndham Hotels & Resorts’s third-quarter revenue fell, but topped expectations as the company resists a takeover attempt from Choice Hotels.
The Parsippany, N.J.-based hotel company posted a third-quarter profit of $103 million, or $1.21 a share, compared with $101 million, or $1.13 a share, a year earlier. Analysts polled by FactSet expected per-share earnings of $1.22.
Stripping out certain one-time items, adjusted per-share earnings came to $1.31, ahead of the $1.24 forecast by analysts, according to FactSet.
Revenue fell to $402 million from $407 million a year ago, beating the $395.4 million expected by analysts polled by FactSet.
The company said it saw global revenue per available room growth of 3% and system-wide room growth of 3%.
Chief Executive Geoff Ballotti emphasized the company still believes it is better situated as a standalone company after it rejected a $7.8 billion to be acquired by Choice Hotels.
The company affirmed its full-year outlook for rooms growth, revenue per available room growth, fee-related and other revenues and adjusted profit.
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