Press Release
DALLAS, TX -- In a meeting with security analysts yesterday morning, Wyndham International, Inc. (NYSE:WYN) raised
its estimate for full-year 2000 earnings before income taxes, depreciation and amortization (EBITDA), as adjusted,
to $684.7 million, up from $675.4 million, before adjustments for asset sales.
When adjusted for the impact of asset sales completed to date, EBITDA, as adjusted, is expected to be approximately
$660 million in 2000.
Consistent with industry expectations by security analysts, the company expects RevPAR growth between 2.5% and
4% for the year 2001. The company, which is continuing to target a ratio of two times EBITDA growth to RevPAR growth
for 2001, expects its 2001 EBITDA growth to be between 5% and 8%.
Fred J. Kleisner, president and chief executive officer, attributed the increase in full-year EBITDA, as adjusted,
to solid operating performance in the first six months of 2000, as previously reported. The company previously
announced plans to dispose of non-strategic assets, with the proceeds to be used primarily to reduce debt. The
company has sold $240 million in assets through June 30, 2000. In a conference call with investors on Tuesday,
Aug. 8, 2000, the company reported on its progress against its previously announced goals and objectives, including
the sale of non-strategic assets.
A replay of the Aug. 8th conference call is available for investors through Friday, Aug. 11, 2000 by calling 800/475-6701
(for international callers, 320/365-3844). The access code is 530966.
Wyndham International, Inc. offers upscale and luxury hotel and resort accommodations through proprietary lodging
brands and a management services division. Based in Dallas, Wyndham International owns, leases, manages and franchises
hotels and resorts in the United States, Canada, Mexico, the Caribbean and Europe. For more information, visit
www.wyndham.com.
Cautionary Statement
This press release contains certain forward-looking statements within the meaning of Sections 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including projections about future operating
results. The company's results could differ materially from those set forth in the forward-looking statements.
Certain factors that might cause a difference include, but are not limited to, risks associated with the availability
of equity or debt financing at terms and conditions favorable to Wyndham; risks associated with the course of litigation;
Wyndham's ability to effect sales of assets on favorable terms and conditions; Wyndham's ability to integrate acquisitions
into its operations and management; risks associated with the hotel industry and real estate markets in general;
competition within the lodging industry; the impact of general economic conditions; risks associated with debt
financing; and other risks and uncertainties set forth in the company's annual, quarterly and current reports and
proxy statements.
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Contact:
Wyndham International, Inc., Dallas
Fred Stern, VP Corp. Communications
214/863-1258
or
Elizabeth Williams, SVP Finance/Investor Relations
214/863-1265