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Forward Looking Statements

Forward Looking Statements.

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Forward Looking Statements

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  1. Forward Looking Statements Certain statements in this presentation constitute “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Any statements that refer to expectations or other characterizations of future events, circumstances or results are forward-looking statements. Such forward-looking statements include projections. Such projections were not prepared in accordance with public guidelines of the American Institute of Certified Public Accountants regarding projections and forecasts, nor have such projections been audited, examined or otherwise reviewed by independent auditors of Wyndham Worldwide Corporation (“WYN”). Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Wyndham Worldwide to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements. Important assumptions and other important factors that could cause actual results to differ materially from those in the forward looking statements are specified in Wyndham Worldwide’s most recent Form 10-K under “Risk Factors” filed with the Securities and Exchange Commission. Except for ongoing obligations of Wyndham Worldwide to disclose material information under the federal securities laws, Wyndham Worldwide does not undertake any obligation to release any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events. The information in this presentation should be read in conjunction with the consolidated financial statements and accompanying notes, “Management's Discussion and Analysis of Financial Condition and Results of Operations” in Wyndham Worldwide's 2012 Form 10-K and Form 10-Q for the quarterly period ending September 30, 2013 filed with the Securities and Exchange Commission on February 15, 2013 and October 23, 2013 respectively.

  2. THE WYNDHAM WORLDWIDE STORYPowerful Cash Flow Drives Dependable Growth Business Execution Sustainable annual free cash flow EPS growth* Successful! Target $750M 17-21%CAGR * 2011-2015

  3. Agenda Three solid platforms Strong execution Delivers dependable growth

  4. WYNDHAM WORLDWIDE TODAYLeading Positions in Leisure Industry BusinessSegment Market PositionWorldwide % of 2012 Adjusted EBITDA MajorBrands Include Hotel Group #1 23% Hotel franchisor by hotels Exchange & Rentals #1 Timeshareexchange and rentalcompany 29% Vacation Ownership #1 48% Timesharedeveloper

  5. WYNDHAM WORLDWIDE TODAYMajority of Income from Fee-for-Service Businesses Revenues Advantages: Strong cash flow ~ 40% ~ 60% Low capital intensity ü ü ü ü Other Fee-for-Service Businesses Recurring revenues Stable earnings • Hotel Franchising Fees • Vacation Exchange Fees • Vacation Rentals Fees • Property Management Fees • WAAM 1.0

  6. WYNDHAM WORLDWIDE TODAYUniquely Positioned in the Industry High(15%) WYN Other lodging companies • High free cash flow • Diversified revenue streams Cash FlowYield Low(0%) Low High Diversified Revenuesproduct lines & demographics

  7. Three Strong Platforms for Growth HotelGroup Exchange & Rentals Vacation Ownership

  8. HOTEL GROUPBuilding On Leading Global Position Adjusted EBITDA $290M - $305M $271M $214M Strengths • World’s largest hotel franchisor • over 638,300 rooms and 7,440 hotels • Leader of the economy & midscale segment Strategic Priorities • Grow system size • add new rooms • retain every desired property • Strengthen value proposition • upgrade and improve technology • generate more bookings through our own channels • Drive organizational excellence • consolidate central reservation systems • call center efficiency

  9. EXCHANGE AND RENTALS Extending the Lead • Rentals Strengths • Exchange Strengths Adjusted EBITDA • Leading timeshare exchange network • Approximately 3.7 million members • Over 4,000 vacation ownership resorts in approximately 100 countries $355M - $370M $340M1 • Strategic Priorities • Expand into new geographic markets • grow organically and through targeted M&A • Leverage web technology investments • enhance online experience & reduce costs • Drive revenue and customer retention • develop compelling products and services Leading vacation rental facilitator Access to approx.1060,000 rental properties Approx.1.4 million transactions completed during 2012 (1) Adjusted EBITDA decrease primarily due to currency ($17M)

  10. VACATION OWNERSHIPA Transformed Business Adjusted EBITDA $595M - $620M $552M $514M Strengths • World’s largest vacation ownership business • 190 resorts and approx. 915,000 owners • Leading innovator • Property management and consumer finance have fee-for-service components Strategic Priorities • Drive further cash flow improvements • develop “Just-in-Time” and asset-lite inventory models (WAAM) • Drive greater sales and marketing efficiencies • Deliver better service to owners to enable greater owner satisfaction

  11. VACATION OWNERSHIPA Closer Look Recurring upgrade sales • 50% of existing owners Flexible points based product • Allows remote market sales Recurring income • Property management fees = $63M EBITDA(1) Recurring interest income • Financing receivables Accounting transparency • Clean business model 1) For full year 2012

  12. Agenda Three solid platforms Strong execution Delivers dependable growth

  13. Strong Record of Execution – Key Initiatives 1 Vacation Ownership transformed 2 Leverage web to improve margins of Vacation Exchange Deliveredstrong cash flowand 2012 EPS growth of 34% 3 Grow Vacation Rentals business 4 Strengthen Hotel Group value proposition 5 Strong balance sheet and financial position

  14. Vacation Ownership Transformed Major Actions Major Benefits • Margin increased from16% to 24% • Average FICO scores(1)increased to 725 • Inventory spend reduced from nearly $700M to approx. $125M Right-sized the business Tightened consumer lending practices Developed WAAM concept • (1) Weighted Average FICO of Portfolio (at origination)

  15. VACATION OWNERSHIP – A CLOSER LOOKFee-for-Service Vacation Ownership Model Gaining Traction Wyndham Asset Affiliation Model (WAAM) Affiliate with developers of unsold properties Traditional VacationOwnership Model ü ü ü Invest in development of resort properties Advantages • Reduces capital intensity • Increases recurring management fees • Improves returns

  16. Leverage Web to Improve Margins of Vacation Exchange Key Actions Web Penetration(1) • Enhanced search • Improved Exchange value transparency • Improved resortphotography and videos • Better websites for • club affiliates ~250 bps of segment margin improvement (1) As of December 31, 2012

  17. Grow Vacation Rentals Business U.S. Market • $24B of annual revenue in the U.S. • $14B rent-by-owner market • $10B professionally managed market large • 5,000 professional managers have an average of ~110 units in the U.S. highly fragmented Market is under-penetrated • Just 10% of US adults have stayed in a rental over the past 10 years under-penetrated

  18. Strengthen Hotel Group Value Proposition Build value proposition through Apollo • Revamp Websites • Drive direct channel bookings • Improve conversion - increases of 10% to 60% • Enhance Content • Overhaul information and images of 7,000 properties • Improve search engine results • Improve Rate Integrity • Better manage rates and inventory • Enhance property management system synergies

  19. Strong Balance Sheet and Financial Position Annual sustainable free cash flow target $750 million Well stacked capital deck – no near-term maturities Investment grade ratings from three major rating agencies Cost-efficient commercial paper program

  20. Agenda Three solid platforms Strong execution Delivers dependable growth

  21. Segment Long-term Growth Dynamics Hotel Group Exchange & Rentals Vacation Ownership • Continued RevPAR recovery • Apollo • International expansion • Migration to web for Exchange business • U.S. penetration in rentals • WAAM / Just in Time • Voyager benefits • Credit Pre-screening Program High-single digit growth Mid-single digit growth Mid-single digit growth Organic EBITDA growth of 6-8%

  22. Our Cash Flow will Enhance Strong, Sustainable Growth 17-21%* Share Repurchase and M&A 6-8% EBITDA ofBase Business Company EPSGrowth * 2010-2015

  23. Disciplined Capital Deployment  Drive Shareholder Value Disciplined CapitalDeployment of ~$1B Annually • Free Cash Flow: $750M target • Maintain existing leverage: $100M EBITDA = $300M of debt Dividends Share Repurchase Targeted M&A Investment Focus on fee-for-service businesses and tuck-in acquisitions • Currently ~$162M annually • ~32% of adj. net income(1) • $623M in 2012 1) Based on guidance as of October 23, 2013

  24. Clear Evidence Our Business Model is Working Adjusted EBITDA Adjusted EPS $3.78 - $3.80(2) $1,140M - $1,165M $3.23 $1,054M +12% $976M $2.49 +8% +10% +30% $860M +13% $2.00 +25% (1) (1) (1) Based on guidance as of October 23, 2013 (2) Includes share repurchases through September 30, 2012

  25. Market Still Catching Up with Wyndham’s New Performance Profile Free Cash Flow Yield 2013 Enterprise Value / EBITDA Note: WYN FCF yield based on target of $750M estimate & peer FCF calculated from recent publications. Price & shares outstanding as of 6/30/13, cash & debt as of June 30, 2013.

  26. IN SUMMARYPowerful Cash Flow Drives Dependable Growth Solid Platforms Execution Growth Strong record of execution Building on three solid platforms Delivering dependable growth • Transformed Vacation Ownership business model • ~$750M annual sustainable free cash flow target • Extending lead of all platforms • Continuing to optimize operations • Using free cash flow for targeted growth • Targeting 17-21% EPS growth

  27. Investor contact: Margo C. Happer Senior Vice President, Investor Relations Wyndham Worldwide Corporation (973) 753-6472 margo.happer@wyn.com

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