Wyndham Destinations (WYND) Provides Operational Updates

Wyndham Destinations, Inc. (NYSE: WYND) is presenting today at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum. Michael D. Brown, president and CEO, and Mike Hug, CFO, will speak at 11:20 a.m. ET.

A live audio webcast of the event will be available on the investor relations section of the Company's website at investor.wyndhamdestinations.com. A replay will be available for 30 days.

The Company is providing an update on recent operational metrics:

• July and August gross vacation ownership interest (VOI) sales were $168 million, $73 million in July and $95 million in August.
• The trend in VOI sales improved sequentially from July to August, with August VOI sales declining 57% year-over-year, an improvement from a 69% year-over-year decline in July, as consumer travel sentiment improved with declining daily COVID-19 cases.
• Volume Per Guest (VPG) improved more than 30% over the prior year in both July and August.
• 84% of the Company's resorts and 76% of its sales operations were open, as of August 26.
• Occupancy at open resorts was 59% in July and 58% August, and over the Labor Day weekend occupancy achieved prior year levels with average occupancy of 77%.
• Revenue per Member at Panorama declined 29% year-over-year in July and 20% in August, compared to 37% in the second quarter.
• Re-openings in Hawaii and California continue to be pushed out relative to previous expectations.

The Company is reaffirming the following outlook:

• VPG to increase more than 30% while tours expected to decline 60% versus the prior year for the second half of 2020.
• The receivable portfolio to perform in-line with expectations and the provision for loan loss as a percentage of VOI sales to be below 20% in the second half of the year.
• Positive full-year adjusted Free Cash Flow.

Brown commented "As we said in July, we're continuing to see the green shoots of the recovery with continued steady growth in VPG as resort occupancy started to rebound while our owners began to enjoy their summer vacations. While many resorts in Hawaii and California have yet to reopen, we're able to reaffirm key business metrics that demonstrate the resiliency of our business."

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