Wyndham (WYN) Rolls Out New Upgrades To Loyalty Program
Zacks Investment Research | May 13, 2016 04:01AM ET
Wyndham Worldwide Corporation (NYSE:WYN) has introduced a new upgrade -- Member Levels -- to its Wyndham Rewards loyalty program for all members. The loyalty program now features four new levels – Blue, Gold, Platinum and Diamond – to offer members an array of benefits that vary by level.
The benefits include free Wi-Fi, late check-out, early check-in, room upgrades, welcome amenities and turn each night’s stay to annual point bonuses. When members redeem their points for a stay at one of the top 25 destinations under the program, they receive an additional upgrade to their award night for no extra points, thereby giving them the opportunity to savor local experiences.
The new program also offers redemption benefits known as “go free PLUS” and “go fast PLUS,” which include special discounts and savings to visit to famous attractions, food tours, art museums and theme parks. These offers have no blackout dates or conditions. Value of these offers vary from $5 per award night for Blue level members to free experiences of around $150 per award night when redeemed by Diamond level members.
In order to survive stiff competition in the hotel industry, Wyndham is continuously devising newer ways to improve occupancy leve;s. The company deploys a variety of marketing strategies and tactics, including online advertising, social media marketing, and sponsorships and highly targeted direct marketing. The company’s loyalty program is one of its most successful marketing tools.
Wyndham Rewards offers one of the most generous reward program payouts in the industry. Its members generate 70% higher revenues than non-members on an annualized basis. The company foresees great prospects for its revised loyalty program.
In fact, Wyndham’s loyalty program is among the most popular in the industry and by constantly upgrading benefits and points, the company has managed to make it more relevant to guests. This has greatly boosting the prospects of enhancing revenues over the long term.
Wyndham currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the hotel industry are Belmond Ltd. (NYSE:BEL) , Marriott Vacations Worldwide Corp. (NYSE:VAC) and Intrawest Resorts Holdings, Inc. (NYSE:SNOW) . While Belmond and Intrawest Resorts sport a Zacks Rank #1 (Strong Buy), Marriott Vacations carries a Zacks Rank #2 (Buy).
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