WYNDHAM HOTELS & RESORTS, INC.

Wyndham Hotels & Resorts, Inc. (NYSE: WH) operates as the world's largest hotel franchising company by number of franchised properties, with a highly asset-light business model that generates significant cash flows and high margins. The company maintains a portfolio of approximately 8,300 affiliated hotels representing roughly 869,000 rooms across 25 brands operating in approximately 100 countries and welcoming approximately 138 million guests annually. The company's website is https://www.wyndhamhotels.com.

The Hotel Franchising segment represents the core business, generating revenue through royalty fees of approximately five percent of gross room revenue and marketing and reservation fees of two to four percent of gross room revenue from franchisees. The company strategically provides financial support through development advances and loans to franchisees to generate new business. The franchise portfolio spans economy, midscale, upscale, luxury, and extended stay segments, with brands including Super 8, Days Inn, La Quinta, Ramada, Wyndham, and others. Approximately eighty percent of the United States population lives within ten miles of at least one affiliated hotel, with the portfolio concentrated in secondary and tertiary cities.

Wyndham Rewards, the company's guest loyalty program, has over 122 million enrolled members accounting for more than thirty-seven percent of global check-ins and over fifty-three percent in the United States. The program generates repeat business and ancillary revenue opportunities through partnerships and co-branded credit card offerings.

The company operates with approximately 2,000 employees globally and maintains a franchise sales team of approximately 170 professionals across multiple countries. The development pipeline includes approximately 2,200 properties representing 259,000 rooms across 63 countries, with seventy-seven percent representing new construction and twenty-three percent representing conversion opportunities.

Wyndham Hotels became an independent public company in May 2018 following its spinoff from Wyndham Worldwide Corporation, now known as Travel + Leisure Co. The company maintains a licensing partnership with Travel + Leisure Co. and operates under a franchise business model that dramatically limits capital requirements while providing significant visibility into future cash flows through typical franchise agreements of ten to twenty years in length.