Wyndham Hotels & Resorts, the world’s largest hotel franchising company with 24 brands and approximately 9,200 hotels, continues to expand its footprint across Latin America and the Caribbean, unveiling today full-year results for the region for 2023. Among the highlights: the company introduced five brands into new countries, signed 46 franchise agreements adding more than 8,300 rooms to their robust pipeline and opened nearly 20 hotels.
Anchored by its OwnerFirst™ approach to franchising, the growth underscores Wyndham’s strong reputation throughout the region and its long-term commitment to helping deliver success for owners and franchisees. Inclusive of last year’s additions, the company closed 2023 with 254 hotels throughout Latin America and the Caribbean, representing almost 40,000 rooms across 18 brands with a pipeline of over 100 hotels.
“We’re incredibly proud of the inroads made this year and the trust that owners and franchisees across the region continue to put in Wyndham. Increasingly, owners are seeing the value of partnering with the world’s largest hotel franchisor. From our award-winning loyalty program, Wyndham Rewards, to our unmatched ability to deliver best-in-class technology, marketing and distribution—they see the power of the Wyndham Advantage," said Gustavo Viescas, President, Latin America and the Caribbean, Wyndham Hotels & Resorts.
Full-Year Highlights
From entering new markets with new brands to expanding relationships with key owners and developers, 2023 was a banner year for Wyndham in Latin America and the Caribbean. Among the highlights, the company:
Opened marque hotels and resorts in new destinations like the all-new Wyndham Grand Barbados Sam Lord's Castle All Inclusive Resort - a new addition to Wyndham's all-inclusive portfolio - and the Brickell Bay Beach Resort Aruba, Trademark Collection by Wyndham.
Expanded its all-inclusive offerings, which with 30 resorts across Mexico, the Dominican Republic, Bahamas, Jamaica, Brazil and others, which now account almost 30 percent of the company’s rooms in the region.
Grew its regional pipeline to over 100 hotels and over 17,000 rooms, almost 30 percent of which are slated to be directly managed by Wyndham and approximately 75 percent which are new construction.
Looking ahead, Wyndham expects a continuation of accelerated growth introducing new Wyndham brands to new markets with the addition of approximately 75 hotels in the region over the next 5 years primarily in the Dominican Republic, Brazil and Mexico.
The company also expects its midscale brands to account for over 50 percent of all upcoming openings in the region, with over 35 percent of openings corresponding to its upscale and upper-upscale brands.
The Wyndham Advantage
Wyndham franchisees throughout Latin America and the Caribbean benefit from the Wyndham Advantage—a combination of world-class marketing, distribution and other resources designed to put owners on the path to success. Inclusive of more than $275 million in innovative technology investments over the past five years, owners have access to best-in-class technology from industry-leading providers, including next-gen property and revenue management systems, as well as growing member base of more than 106 million enrolled Wyndham Rewards members globally.
Wyndham Rewards is the number one hotel rewards program as named by both USA Today and U.S. New and World Report with more than 50,000 hotels, vacation club resorts and vacation rentals. Members make up more than a third of all check-ins globally and on average, spend nearly twice as much as non-members.