Wyndham Hotels & Resorts Asia Pacific Achieves Strong Growth Momentum in the First Half of 2023
Wyndham achieved an increase of 31 percent on revenue per available room (RevPAR) in constant currency in the half-year ended 30 June 2023 (1H2023).
Stellar Year-on-Year Results for 1H 2023
Wyndham Hotels & Resorts or Wyndham, the world’s largest hotel franchising company and a leading provider of management services, has delivered on its mission of making hotel travel possible for everyone. With approximately 9,100 hotels in more than 95 countries, Wyndham successfully tapped into the continual post-pandemic recovery of bleisure travel across the Asia Pacific region and continued to strengthen its franchising leadership position in the hospitality industry with the opening of hotels including its flagship brand Wyndham, all-inclusive brand Wyndham Alltra and lifestyle TRYP by Wyndham brand. The new openings lead to an overall growth of six percent in Wyndham’s room size across the region.
In addition to the strong recovery of bleisure travel across the region, strong guest and owner loyalties towards Wyndham’s brand portfolio contributed to the 31 percent on revenue per available room (RevPAR) in constant currency during the first half of 2023 across Wyndham hotels in the Asia Pacific region.
New Hotels, New Destinations and New Guest Experiences
In the first six months of 2023, the Company celebrated a series of key milestones as it unveiled its “first-hotel” of iconic brands such as Wyndham Grand, Wyndham Garden and TRYP by Wyndham in popular destinations such as Singapore, Wellington in New Zealand, and Phu Quoc in Vietnam, as well as introducing its brands in new countries through hotel signings and openings.
The new hotel signings and openings include:
• Peninsula Excelsior Singapore, a Wyndham Hotel — the signing of the first Wyndham hotel in the country with 591 rooms. The Hotel debuted as Peninsula Excelsior Singapore, a Wyndham Hotel during its soft opening on 6 July 2023. Following its multi-million-dollar renovation, the property will be officially launched as the Wyndham Singapore at its grand opening in 2024.
• Wyndham Alltra, Cat Ba — the signing of the first all-inclusive resort on 21 March 2023, in Asia Pacific with 300 rooms.
• Wyndham Grand Phu Quoc — largest Wyndham Grand globally with 1,399 rooms, unveiled on 2 May 2023 making it the first Wyndham in Phu Quoc and the fifteenth hotel in Vietnam.
• Wyndham Garden Phu Quoc — largest Wyndham Garden globally with 921 rooms, unveiled on 2 May 2023 making it the first Wyndham Garden in Phu Quoc and the sixteenth hotel in Vietnam.
• TRYP by Wyndham Tory Street Wellington — launched in February 2023, it is the first TRYP by Wyndham in New Zealand with 77 rooms.
Sustained Optimism for Hotel Franchising
Wyndham’s franchising business model continues to gain popularity amongst potential owners in the region as they witness the unprecedented support from Wyndham to drive demand and portfolio growth. By joining the Wyndham family, owners can leverage its global franchising expertise by tapping into its hugely popular Wyndham Rewards program that has more than 103 million members globally and leverage its centralised operational support to maximise their top-line profitability. Most recently on 14 August 2023, Wyndham Rewards was recognised as the Best Hotel Loyalty Program for the sixth consecutive year by USA Today.
Coupled with the increasing stability of the tourism industry, Wyndham will continue to seek opportunities to introduce new brands in Asia Pacific to meet the ever-evolving aspirations of hotel owners and guests alike. Looking ahead, Wyndham remains optimistic of making further progress towards evolving its brand portfolio and strengthening its development and opening pipelines for the foreseeable future.
“In the first half of 2023, we’ve achieved phenomenal results; driven by three game-changing factors; the strong recovery of bleisure travel across Asia Pacific, the combined rebound in Greater China’s domestic and international travel demand, and the introduction of new, exciting brands and hotels into strategic markets across Asia Pacific. For our guests, the strong appeal of our brands coupled with the high usability of Wyndham Rewards kept them in the Wyndham ecosystem whilst our owners witnessed how we were able to leverage the strength of our commercial and operational support to attract demand and drive growth. These factors combined to deliver strong guest and owner loyalties – that further highlights the trust they have in our portfolio of brands and industry-leading franchising experience,” said Joon Aun Ooi, President, Asia Pacific, Wyndham Hotels and Resorts.