Wyndham Worldwide says first-quarter profit fell due to deferring revenue on unfinished timeshare properties.
The Ramada, Days Inn and Super 8 operator reported quarterly net profit of US$42m, compared to US$86m for the same period last year.
Revenue was flat at US$1bn, as growth in its hotel and vacation rental business was held back by lower revenue reported from its timeshare unit.
Hotel revenue rose 12 percent to US$170m.
The company’s overall revPAR rose 2.7 percent compared with a 2.2 percent increase a year ago.
By staff writer