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Wyndham Hotels & Resorts Inc. (WH-3.24%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total net revenues of $1,408 million, a slight increase from $1,397 million in the previous year. This growth was driven primarily by higher royalty and franchise fees, as well as increased license and other ancillary revenues.
The company recorded operating income of $495 million, down from $503 million in 2023. This decrease was attributed to higher transaction-related expenses, restructuring costs, and impairment charges.
Net income for the year remained steady at $289 million, consistent with the prior year. The effective tax rate decreased to 21.5% from 27.4% in 2023, influenced by tax credits received in Puerto Rico.
Wyndham's global development pipeline reached approximately 2,100 hotels and 252,000 rooms, marking a 5% year-over-year increase. The pipeline includes 70% midscale and above segments and 17% extended stay segment.
The company declared cash dividends of $0.38 per share in each quarter of 2024, totaling $123 million. A quarterly dividend increase to $0.41 per share was approved for 2025.
Wyndham Hotels & Resorts Inc. repurchased approximately 4.1 million shares of its stock at an average price of $75.63 per share, totaling $308 million in 2024. The company has $538 million remaining under its stock repurchase program.
The filing also details the company's restructuring plan, which incurred $15 million in expenses related to 135 employees, aimed at enhancing organizational efficiency.
Wyndham's total assets increased to $4,223 million, with liabilities rising to $3,573 million. The company's long-term debt stood at $2,463 million, reflecting a $262 million increase from the previous year.
The company continues to focus on its asset-light business model, generating significant cash flow to invest in growth opportunities and return capital to shareholders.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Wyndham Hotels & Resorts Inc. annual 10-K report dated February 13, 2025. To report an error, please email earnings@qz.com.