Wyndham Worldwide Corporation (NYSE:WYN) today announced results for the three months ended June 30, 2009.
SECOND QUARTER 2009 HIGHLIGHTS:
- The Company generated diluted adjusted earnings per share (EPS) of $0.41, compared with Company–issued guidance of $0.36 – $0.4
- The Company reaffirms full–year 2009 revenue and adjusted EBITDA guidance
- Wyndham Hotel Group's concentration in the economy and mid–scale segments led it to outperform the overall industry average domestic revenue per available room (RevPAR), posting a decline of 13.6% compared with a decline of 19.5%, as reported by Smith Travel Research
- Group RCI adjusted EBITDA, excluding the net effect of foreign currency impacts, increased 30%
- Volume per guest (VPG) at Wyndham Vacation Ownership increased 17%, reflecting strong pricing and higher close rates
- In May 2009, the Company successfully completed $480 million of debt issuances maturing in 2012 and 2014; increasing available capacity on its revolving credit facility to approximately $840 million as of June 30, 2009
Read more:
http://www.wyndhamworldwide.com/investors/show_release.cfm?id=557
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