Wyndham Worldwide Reveals Third-Quarter Outcomes

Wyndham Worldwide Corporation, one of the world’s premier hospitality companies, announced last week results for the third quarter of the ongoing year.

Revenue posted a double-digit increase, compared to the third quarter of 2005, with strong top-line growth across the company’s three businesses –Lodging, Vacation Exchange and Rental, and Vacation Ownership.

There was strong performance across the lodging brands helped to push RevPAR up 11 percent and drove franchise fee revenue growth 14 percent when compared to the third quarter of 2005.

At the same time, the hotel chain chalked up growth in the number of exchange members, vacation rental transactions and average price per rental, helped to fuel a 10 percent spike in Vacation Exchange and Rental revenue compared to the third quarter of 2005

Revenues for the third quarter of 2006 were $1,047 million, up 10 percent over the same period in 2005, reflecting strong growth across the businesses. Adjusted net income for the third quarter of 2006 was $120 million or $0.59 diluted earnings per share.

The third quarter 2006 results include only two months of incremental stand-alone corporate costs as a result of the spin-off occurring on July 31, 2006. The Company estimates that incremental stand-alone, corporate costs would have been approximately $3 million (after-tax) for the month of July.