Wyndham Worldwide’s third-quarter profit fell 9.1% from a year earlier, as gains from the late 2011 opening of Orlando’s 400-room Wyndham Grand Hotel were more than offset by the effect of currency changes on the company’s vacation-rentals division.
Revenue at Wyndham Hotel Group surged 28% from a year earlier on a combination of the Wyndham Grand opening and a 5% increase in U.S. revenue per available room (RevPAR). Wingate by Wyndham and Microtel Inns & Suites were among Wyndham brands with some of the larger RevPAR increases.
Still, earnings at Wyndham’s vacation rentals business, which accounts for about a third of the parent company’s sales, fell about 9% from a year earlier.
Overall, net income dropped to $159 million from $175 million a year earlier. Revenue rose 4.4% to $1.27 billion. Follow Danny King on Twitter @dktravelweekly.