Wyndham Hotels & Resorts increases share repurchase authorization by $400 million

Wyndham Hotels & Resorts has announced that its Board of Directors approved an increase in its share repurchase authorization by $400 million. The company intends to use various methods for these repurchases, including open market purchases or privately negotiated transactions.

Geoff Ballotti, president and chief executive officer, stated that the decision reflects confidence in the company’s business model and its ability to generate significant cash flow. The authorization allows the company to repurchase up to 7.6% of its stock. The repurchase program has no set termination date and may be suspended or discontinued at any time based on market conditions and legal requirements.