WYNDHAM HOTELS & RESORTS, INC.

Wyndham Hotels & Resorts is the world's largest hotel franchising company, operating a diversified portfolio of franchised properties across multiple brands spanning economy, midscale, upscale, luxury, and extended-stay segments in markets worldwide. The company operates an asset-light franchise model, generating revenue primarily through royalty fees (approximately 5% of gross room revenue) and marketing or reservation fees paid by over 6,200 franchisees on franchise agreements typically spanning 10–20 years. Wyndham also operates Wyndham Rewards, a large loyalty program that drives repeat business and generates ancillary revenues, while pursuing growth through new franchise contracts and an active development pipeline of properties under construction or conversion.