The refinancing process has been conducted by financial advisors of the firm IREA, this new strategic financial plan will allow the Company to refinance its debt, and initiate a significant renovation and improvement plan of its hotels and resorts.
Wyndham Worldwide Corporation (NYSE: WYN) announced yesterday the closing of a new $1.5 billion revolving credit facility to replace its existing $1 billion facility, which had been scheduled to mature in July 2016.
For the year ended December 31, 2012, the Company generated revenues from resort operations of $9.45 million and a net loss of $17.85 million or $0.06 per share compared to $6.66 million and a net loss of $42.66 million or $0.21 per share. Resort Operations EBITDA from continuing operations for the 2012 year were $2.54 million compared to negative $0.8 million in the 2011 year.
Q1 global RevPAR growth of 3.1%, with rate up 2.0% and occupancy up 0.6%pts. The shift in timing of Easter from April into March adversely impacted RevPAR in the quarter. The corresponding boost can be seen in April when RevPAR was up 6.6% for the Group as a whole compared to just 0.6% in March.