Wyndham Hotels & Resorts, Inc. (NYSE:WH) Q3 2023 Earnings Call Transcript October 26, 2023 8:30 AM ET

Company Participants

Matt Capuzzi - Senior Vice President of Investor Relations

Stephen Holmes - Chairman

Geoff Ballotti - Chief Executive Officer

Michele Allen - Chief Financial Officer

Conference Call Participants

Joe Greff - JP Morgan

David Katz - Jefferies

Stephen Grambling - Morgan Stanley

Dan Wasiolek - Morningstar

Patrick Scholes - Truist Securities

Brandt Montour - Barclays

Michael Bellisario - Baird

Dany Asad - Bank of America

Meredith Jensen - HSBC

Operator

Welcome to the Wyndham Hotels & Resorts Third Quarter 2023 Earnings Conference Call. At this time, all participants have been placed on a listen-only mode, and the floor will be opened for your questions following the presentation. [Operator Instructions]

I would now like to turn the call over to Matt Capuzzi, Senior Vice President of Investor Relations.

Matt Capuzzi

Thank you, operator. Good morning and thank you for joining us. With me today are Steve Holmes, our Chairman; Geoff Ballotti, our CEO; and Michele Allen, our CFO.

Before we get started, I want to remind you that our remarks today will contain forward-looking statements. These statements are subject to risk factors that may cause our actual results to differ materially from those expressed or implied. These risk factors are discussed in detail in our most recent annual report on Form 10-K, filed with the Securities and Exchange Commission, and any subsequent reports filed with the SEC.

We will also be referring to a number of non-GAP measures. Corresponding GAAP measures and a reconciliation of non-GAAP measures to GAAP metrics are provided in our earnings release and investor presentation, which will be available on our investor relations website at investor.wyndhamhotels.com. We are providing certain measures discussing future impact on a non-GAAP basis only, because without unreasonable efforts, we are unable to provide the comparable GAAP metric.

In addition, this morning we posted an investor presentation containing information with respect to our board's rejection of Choice’s unsolicited offer. We may continue to provide supplemental information on our website in the future. Accordingly, we encourage investors to monitor our website in addition to our press releases, filing submitted with the SEC, and any public conference calls or webcasts.

With that, I will turn the call over to Steve.

Stephen Holmes

Thanks, Matt. As all of you are aware, last week Choice Hotels announced that they made unsolicited overtures to acquire our business. With no organic growth, a less vibrant loyalty program, and virtually no international capabilities in Choice's platform, we are frankly not surprised. Our business offers a medicine cabinet full of remedies. Our board has taken its fiduciary duties very seriously with respect to shareholders and other stakeholders, including franchisees, employees and guests. We strongly believe that Wyndham’s standalone plan and multiple levels -- levers of growth provide a more compelling proposition compared to Choice’s offered.