Wyndham's (WYN) Hotel Group Opens Third Hotel in Florida

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Wyndham Hotel Group, one of the three business units of Wyndham Worldwide CorporationWYN , recently announced the opening of its new property in Florida - Wyndham Grand Clearwater Beach. Ideally located steps away from Pier 60 and the white sands of Clearwater Beach, it is the brand's 14th location in the U.S. and the third in Florida.

The Clearwater Beach area is one of the country's most exotic places for vacationers and convention travelers, and consistent increases in visitors over the years have fueled demand for luxury accommodations here.

The two-tower resort is under the ownership of Florida philanthropist Dr. Kiran Patel and is managed by Wyndham Hotel Group. It encompasses over 340 rooms and offers a huge event space along with 12 meeting rooms, lively bars, dining areas, a spa and a fitness centre, among other amenities. The resort also encompasses over 100 two- and three-bedroom vacation ownership units through Wyndham's other business unit - Wyndham Vacation Ownership - and its Club Wyndham brand.

Wyndham boasts a significant presence in most of the hospitality markets in the U.S. and abroad. The company's global portfolio consists of nearly 8,000 hotels in 75 countries, operating through its 25 brands. Notably, with the acquisition of Fen Hotels last month, Wyndham is poised to leverage the growing demand for accommodation in Latin America. We note that Fen Hotels has 23 hotels in six countries and a strong developmental pipeline throughout the region.

Going forward, the company's strong developmental pipeline, consistent expansion plans, significant international exposure and robust marketing efforts should boost earnings. Moreover, Wyndham Loyalty and Rewards Program along with other initiatives undertaken by the company to increase occupancy should drive growth.

However, revenue growth at Wyndham might get restricted as lingering political uncertainty in key international markets and significant currency headwinds are affecting most of the hoteliers including Hyatt Hotels Corporation H , Hilton Worldwide Holdings HLT and Marriott International, Inc. MAR .

Notably, shares of Wyndham have underperformed the Zacks categorized Hotels & Motels industry over the last one year. While the industry grew 34.6%, the stock returned 22.6% in the said time frame.

Nevertheless, announcements like these have the power to optimistically influence the fate of this Zacks Rank #3 (Hold) company. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .

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Wyndham Worldwide Corp. (WYN): Free Stock Analysis Report

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Hyatt Hotels Corp. (H): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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