The CEO of Wyndham Hotels & Resorts CNBC told CNBC on Thursday that strong travel demand in the US has helped the company shake off its pandemic-induced slowdown.
While some industries have struggled to recover after the disruption of the Covid pandemic, business at Wyndham is “absolutely stronger than it was before the pandemic,” said CEO Geoff Ballotti in an interview about “The exchange. “
“The intent to travel, get in your car and go somewhere and get out of your attic, get out of your basement with your family and friends, is spectacular,” Ballotti said. “It’s off the charts, it’s unprecedented, and I think we’ll see that well into the fall.”
Wyndham hotel brands include Days Inn, La Quinta, and Baymont. The hotel franchisor’s business is not only picking up in its US hotels, but also internationally, as the number of outbound flights is slowly recovering. “We’re seeing the international airlift to destinations like Mexico continue to grow, where we have a new Wyndham Alltra Cancun and a new Wynhdam Alltra Playa Del Carmen,” Ballotti said.
“People want to get away and have a safe, very flexible and uncomplicated vacation, and we can see that,” said Ballotti.
According to the CEO, business travel is coming back more slowly than leisure travel. “Big cities like San Francisco are just beginning to recover, it’s the group meetings with urban goals that have lagged behind.”
Despite the delay in business travel, Ballotti and other hotel CEOs expect to receive a top-up starting next month as the Biden government lifts international travel restrictions on November 8, imposed in the early days of the Covid pandemic last year.
“We believe that demand in the United States is sure to increase. … One thing we need to pick up are visa applications.
In the US, cities like Boston, New York and San Francisco will continue to see influx and growth in business and leisure travel for the remainder of the year, “this is great news for the travel industry,” Ballotti said.
Wyndham exceeded Wall Street’s expectations in his Quarterly results Thursday and increased guidelines for the rest of the year. The stock closed 4.33% on Thursday afternoon, trading at $ 85.84 per share.