Skift

Episode Notes Wyndham Hotels & Resorts reported a drop in profitability during the second quarter. That’s partly because the hot demand for its budget hotels is cooling, reports Senior Hospitality Editor Sean O’Neill.  Wydham saw its net income fall 18% in the second quarter from last year. O’Neill writes its portfolio skews toward affordable roadside hotels, which surged in popularity immediately after the pandemic eased. Now, Chief Financial Officer Michele Allen said things are returning to normal. The company has also seen travel to big cities and international destinations rebound significantly. Meanwhile, Wyndham said it’s not worried about increased competition in the extended stay sector. The company launched its own extended stay brand last November in the U.S. and Canada. Extended stay has since emerged as one of the hottest categories in hotels, with Marriott, Hilton and Hyatt all addring brands.  Next, Google executives had cited travel as a major source of revenue growth during the previous two q