Wyndham Hotels & Resorts has unveiled its full-year results for 2023 showing its expansion in the Latin America and Caribbean region.
The company introduced five brands into new countries, signed 46 franchise agreements adding more than 8,300 rooms to its pipeline and opened nearly 20 hotels. It 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,” said Gustavo Viescas, President, Latin America and the Caribbean, Wyndham Hotels & Resorts, in a press release statement. “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.”
Highlights of Wyndham’s 2023 Results
Among the highlights for Wyndham in Latin America and the Caribbean were the opening of marque hotels and resorts in new destinations such as the Wyndham Grand Barbados Sam Lord’s Castle All Inclusive Resort and the Brickell Bay Beach Resort Aruba, Trademark Collection by Wyndham.
The company also expanded its all-inclusive offerings, which now account for almost 30 percent of its rooms in the region, and grew its regional pipeline to over 100 hotels and over 17,000 rooms. Almost 30 percent of the new openings are slated to be directly managed by Wyndham, and approximately 75 percent will be new construction.
Looking ahead, the company expects a continuation of its 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.
For more information, visit wyndhamdevelopment.com.
