Filing Flows › Wyndham Hotels & Resorts (WH) › Q2 2026 › vs Q2 2025
Wyndham Hotels & Resorts (WH) Q2 2026 vs Q2 2025 (year over year)
Wyndham Hotels & Resorts's revenue fell $22.0M (-6%) from $397M in Q2 2025 to $375M in Q2 2026. The biggest changes: Marketing, reservation and loyalty −$20.0M (-12%); Royalties and franchise fees −$8.0M (-5%); Other +$4.0M (+8%). Operating margin 46.4% against 37.8% (+8.6 pts).
Wyndham Hotels & Resorts, Q2 2026: revenue $375M (-6% year over year), operating margin 46.4%, net earnings $102M, operating cash flow $91.0M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 46.4% | 37.8% | +8.6 pts |
| Net margin | 27.2% | 21.9% | +5.3 pts |
| Free cash flow margin | 20.5% | 14.6% | +5.9 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Marketing and reservation fees | $122M | $140M | −$18.0M | -13% |
| Partnership fees | $28.0M | $24.0M | $4.0M | +17% |
| Other Products and Services Excluding Partnership Fees | $26.0M | $26.0M | $0 | 0% |
| Loyalty Program | $23.0M | $25.0M | −$2.0M | -8% |
| Owned Hotel Revenues | $3.0M | $0 | $3.0M | — |
| Management fees | $2.0M | $2.0M | $0 | 0% |
| Marketing, reservation and loyalty | $145M | $165M | −$20.0M | -12% |
| Other | $54.0M | $50.0M | $4.0M | +8% |
| Management and other fees | $5.0M | $2.0M | $3.0M | +150% |
| Royalties and franchise fees | $139M | $147M | −$8.0M | -5% |
| License and other fees | $32.0M | $33.0M | −$1.0M | -3% |
| Revenue | $375M | $397M | −$22.0M | -6% |
| Operating profit | $174M | $150M | $24.0M | +16% |
| Costs & expenses | $201M | $247M | −$46.0M | -19% |
| Pre-tax earnings | $138M | $116M | $22.0M | +19% |
| Other expense, net | $36.0M | $34.0M | $2.0M | +6% |
| General & admin | $24.0M | $31.0M | −$7.0M | -23% |
| Other operating costs | $177M | $216M | −$39.0M | -18% |
| Net earnings | $102M | $87.0M | $15.0M | +17% |
| Income tax | $36.0M | $29.0M | $7.0M | +24% |
| Depreciation & amortization | $15.0M | $15.0M | $0 | 0% |
| Share-based compensation | $9.0M | $9.0M | $0 | 0% |
| Working capital & other | $35.0M | $41.0M | −$6.0M | -15% |
| Operating cash flow | $91.0M | $70.0M | $21.0M | +30% |
| Free cash flow (OCF − capex) | $77.0M | $58.0M | $19.0M | +33% |
| Capital expenditures | $14.0M | $12.0M | $2.0M | +17% |
Questions
How much did Wyndham Hotels & Resorts's revenue grow year over year in Q2 2026?
Wyndham Hotels & Resorts's revenue fell $22.0M (-6%) from $397M in Q2 2025 to $375M in Q2 2026.
What drove Wyndham Hotels & Resorts's revenue change in Q2 2026?
Marketing, reservation and loyalty −$20.0M (-12%); Royalties and franchise fees −$8.0M (-5%); Other +$4.0M (+8%).