Strong Travel demand in the United States has helped Wyndham Hotels & Resorts shake off its pandemic-related slowdown, according to the company’s CEO, who spoke to CNBC on Thursday. While some businesses have struggled to recover from the Covid outbreak, CEO Geoff Ballotti remarked in an interview on “The Exchange” that Wyndham’s business is “certainly stronger than before the pandemic.” The desire to Travel, to get in your car and drive somewhere, to get out of your attic, basement, and spend time with your family and friends is incredible.
It’s off the charts, unprecedented, and I believe that trend will continue into the fall. Days Inn, La Quinta, and Baymont are among Wyndham’s hotel brands. As the number of outgoing flights progressively recovers, the hotel franchisor’s business is picking up not only in the United States, but also globally. According to the CEO, business Travel is returning at a slower pace than leisure.
Cities like Boston, New York, and San Francisco in the United States will continue to witness an influx and increase in business and leisure for the remainder of the year, according to Ballotti, “which is wonderful news for the Travel sector.” In its quarterly results on Thursday, Wyndham outperformed Wall Street estimates and boosted its full-year guidance. The stock was trading at $85.84 a share on Thursday afternoon, up 4.33 percent.