Wyndham Worldwide's (WYN) fourth quarter 2010 earnings were ahead of the Zacks Consensus Estimate, primarily due to strong operational performance at each of the three businesses, sound expense management and continued share repurchases. Going forward, we expect Wyndham to benefit from its repositioning to a more fee-for-service based business.
Wyndham is also experiencing recovery in lodging business with surge in leisure demands. Wyndham remains committed to enhancing shareholder value and expanding through acquisitions, given the robust free cash flow generation by the company.
Moreover, the company is strengthening its presence in the international markets, particularly in Europe and Asian markets like China and India. Hence, we maintain an Outperform rating on the stock.
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