Wyndham boosts 2010 outlook
July 29, 2010 |
Wyndham's domestic revenue per available room, or revpar, rose in June and it continued to see "meaningful improvement" during the first three weeks of July, executives said during a conference call with analysts.
"We're seeing a strengthening and some momentum building," Chief Executive Stephen Holmes said in an interview. "We have continually said the recovery will be gradual."
Wyndham predicts revpar will rise as much as 3 percent in 2010, compared with the previous projection of flat to down 3 percent.
By contrast, Marriott International, which operates Residence Inn, Marriott and Ritz-Carlton, forecast a 4 percent to 6 percent rise in revpar this year. Starwood Hotels & Resorts, which operates the W, St. Regis and Sheraton, projects a 7 percent to 9 percent jump.
Get the full story at Reuters
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