For every kind of traveler. For every kind of trip.

Wyndham Hotel Group

Steven A. RudnitskyPresident & CEO

For every kind of traveler. For every kind of trip.

2

Strategic Overview

2002 2003 2004 2005 2006

Strategic Evolution

International expansion

Wyndham Hotel Group has evolved from a U.S. economy-centric franchise business to an integrated, multi-segment, international franchise and management company.

ProjectRestore

Introduced FieldSupport Organization

Revamped QA/Rate and Inventory

Processes

Upscale managementcompany capabilities

Maximize core brand operating performance

Leading Economy segment player

For every kind of traveler. For every kind of trip.

3

Global Brand Portfolio

Budget/Economy

Mid-Market

First Class

Luxury

International Segments

Days InnSuper 8

RamadaHoward Johnson

Wyndham Hotels and Resorts

Wyndham Grand Collection

International Brands

Days InnSuper 8

TravelodgeKnights Inn

Economy

Wingate InnRamada

Baymont/AmeriHost InnHoward Johnson

Mid-scale

Wyndham Garden InnUpscale

Wyndham Grand Collection

Wyndham Hotels and Resorts

Upper Upscale

North America BrandsNorth America Segments

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4

Customer Value Proposition

Brand strengthThree of 10 brands have consumer awareness over 90%Consumer database with over 70 million namesBreadth of brands provides range of franchising optionsWorldwide distribution in all key regions

Brand growth, domestically and internationallySuper 8 and Days Inn: 35% of Economy segment; 100+ RevPAR indexRamada International: opened more than 7,000 rooms since December 2004 acquisition

Ability to drive revenueTripRewards members generate 26% of all consumed nightsReservation contribution at approximately 30% Field staff providing operational and revenue management supportBrand Web sites: projected 50 million visitors, 17% revenue growth year-over-yearthrough web reservations

Leverage scale and efficienciesCentral reservations systemInformation Technology, franchise support infrastructureMarketing and worldwide salesRCI worldwide footprint

For every kind of traveler. For every kind of trip.

5

EBITDA

Weighted Average Rooms

Average Daily Rate Occupancy Royalty Rate Royalty

RevenuesX X X =

“RevPAR”

Average Daily Rate Occupancy

Marketing & Reservation

Rate

Marketing & Reservation Revenues

X X X =

=Royalty Revenues +

Marketing & Reservation Revenues

X 0% Other Revenue+

365Days

365Days

X

XWeighted Average Rooms

Franchise Hotel Model

– OperatingExpenses

•TripRewards•Management Fees•Reimbursable Costs•Initial Fees

For every kind of traveler. For every kind of trip.

6

Inte

rnat

iona

l dev

elop

men

t

Fran

chis

e sa

les

QA

Wyn

dham

Hot

els

and

Res

orts

2002 2006E

Performance

+8.4% RevPAR CAGR over the past four years• +6.3% CAGR for the industry

RevPAR $25.33 $35.00Royalty/Mktg. andRes. Revenue ($M) $366 $465 - $475EBITDA ($M) $162 $200 - $210

Ong

oing

Ope

ratio

nal

Impr

ovem

ent

Bay

mon

t

Pro

ject

Res

tore

For every kind of traveler. For every kind of trip.

7

Performance

Wyndham Hotel Group has exceeded Economy segment RevPAR performance since 2003

-3.3

%

-3.7

%

4.7% 7.

6%

4.1%

-6.7

% -4.0

%

6.1% 8.

6%

4.7% 7.

2%

11.7

%

-6.8

%

-5.5

%

5.9%

9.6%

3.0%

-1.4

%

-0.4

%0.

7%

-0.6

%

-1.6

%

0.6%

2.3%

-8%

-6%

-4%

-2%

0%

2%

4%

6%

8%

10%

12%

2000 2001 2002 2003 2004 2005

RevPAR Growth

Economy Mid-scale w/F&B Mid-scale w/o F&B Wyndham Hotel Group

Sources: PricewaterhouseCoopers Hospitality Directions journals, September 2006 (December 2005 for 2000 data)(1) Excludes Ramada International

(1)

For every kind of traveler. For every kind of trip.

8

Global Distribution

98.8%0.5%

0.5%

0.2%

1.2%

2002 2006E

Strong progress toward global diversification

Note: As measured by number of rooms

North America EMEA APAC LAM

10.0%3.4%

0.8%5.8%

90.0%

For every kind of traveler. For every kind of trip.

9

North America Segment Distribution

30.5%

3.3%

66.2% 65.5%

22.9%

6.8% 4.8%

Expanding into the faster-growing Mid-scale w/o F&B and Upscale segments.

11.6%

2002 2006E

Note: As measured by number of rooms

Economy/Mid-scale w/F&B Mid-scale w/F&B Mid-scale w/o F&B Upscale

For every kind of traveler. For every kind of trip.

10

485,3562,817Hilton Hotels Corp.

537,5333,606InterContinental Hotels Group

257,889849Starwood Hotels and Resorts Worldwide

499,1652,741Marriott International

315,8754,195Best Western International

481,1315,897Choice Hotels International

532,2846,344Wyndham Worldwide

134,296731Global Hyatt Corp.

147,129922Carlson Hospitality Worldwide

475,4334,065Accor

Number of RoomsNumber of Hotels

Top Ten Hotel Companies (2005)(Ranked by Total Global Hotels)

Sources: Hotels Magazine, July 2006 for competition

Wyndham Hotel Group is the largest hotel group in the world, measured by number of hotels.

Competitive Comparison

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11

Industry Overview: United States

Industry RevPAR forecasted to grow +5.9% in 2007RevPAR Growth by Segment in 2007

Economy 5.9%Mid-scale w/ Food & Beverage 5.9%Mid-scale w/o Food & Beverage 7.9%Upscale 7.2%Upper Upscale 6.3%

Industry supply growing 1.6% in 2007

ADR increases driving growth across all segmentsMacroeconomic factors that may affect industry drivers

Corporate profit growth is slowing

RevPAR growth moderating

Sources: PricewaterhouseCoopers September 2006, Merrill Lynch Lodging Supply Watch

For every kind of traveler. For every kind of trip.

12

Industry Overview: International

Internationally, the industry is also expected to grow.

Sources: Euromonitor Integrated Market Database – Dec. 2005 for International data;PricewaterhouseCoopers – Sept. 2006 for U.S. data

U.S.

% Forecast Growth Rate2006-08

2005 Gross Revenue$U.S. Billion

+8.2124.0

+5.96.9Mexico

+16.323.8Latin America

-0.480.0Japan

+35.71.3India

+15.015.6China

+4.3110.2Asia Pacific

+14.111.3E. Europe

+1.2121.9W. Europe

+2.3133.2Total Europe

Total Hotel Revenue by Region

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13

Industry Overview: International

52%48% 45%55%

33%

67%

Total Europe Asia Pacific Latin America

U.S.

Large percentage of small chains/independent hotels offers significant conversion opportunities.

Large ChainSmall Chain/Independent

Sources: Euromonitor Integrated Market Database – Dec. 2005 for International data; STR for U.S. data

39%

61%

BrandedIndependent

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14

Industry Overview: International

+1.7%$28.4512.0%Economy

+3.7%$47.9133.3%Mid-scale

+3.2%$72.1616.3%Upscale

+3.0%$100.0630.8%Upper Upscale

+4.0%$174.607.5%Luxury

% change 2001-2005RevPAR%

Revenue

Sources: International data: Deloitte & Touche same store analysis 2005U.S. data: PricewaterhouseCoopers, September 2006

Europe

Fastest growing international segments are Mid-market and Budget/Economy.

+14.1%$59.990.4%Budget/Economy

+16.0%$62.9610.3%Mid-Market

-3.7%$81.9968.5%First Class

+6.1%$102.6920.8%Luxury

% change 2000-2005RevPAR%

RevenueAsia

+13.6%$58.754.1%Budget/Economy

+3.7%$72.1024.4%Mid-Market

-1.5%$101.2861.3%First Class

-4.2%$244.1210.2%Luxury

% change 2000-2005RevPAR%

Revenue

U.S.

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15

Operating Growth

Optimize performanceof North American Economy/Mid-scaleportfolio

Revenue management programNew property management system Increase sales/marketing efficiency Restructure worldwide sales

Refine global brand positioningInvest in sales/marketing to drive reservation contributionImplement essential operational and system efficienciesUtilize RCI global infrastructure

Position Wyndham flagship and Wingate brands as value-added alternatives to competitive brands

Grow International core brands: Wyndham, Ramada, Days Inn, Super 8, Howard Johnson

Pursue tuck-in acquisitions and multi-unit development dealsDrive mixed-use opportunitiesLeverage RCI developer network

Invest in high RevPAR strategic assetsExecute timeshare/mixed-use opportunitiesAlign Wingate

Implement brand standards Integrate loyalty program Invest in sales/marketing Revenue management program

Identify target markets to fill in distributionEnhance customer service culture Capitalize on Baymont brand value propositionPursue portfolio conversions and tuck-in acquisitions

System Growth

Growth Strategies

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16

Wyndham Master Brand Strategy

AAA 4+ diamondMajor markets Original architectureDistinctive dining/ barStrong local identification

AAA 3, 4 diamondMajor urban & resort destinations Restaurant/bar-casual diningMeeting/event facilitiesFull fitness facilities

AAA 3 diamondMajor/Secondary marketsCasual/select- F&B serviceLimited meeting spaceFitness center

AAA, 2, 3 diamondSecondary markets80+ rooms24/7 F&B martFitness center

Wyndham CollectionWyndham CollectionHistoricHistoric

BoutiqueBoutiqueGrand BayGrand Bay

InternationalInternational

Wyndham Hotels andWyndham Hotels andResortsResorts

Wyndham GardenWyndham Garden WingateWingateby Wyndhamby Wyndham

Wyndham VacationWyndham VacationOwnershipOwnership

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17

Initiatives

Operating Growth

Invest in high RevPAR strategic assetsExecute time share/mixed-use opportunitiesAlign Wingate

System Growth

Commissioned Michael Graves for new designInvested over $12 Million to fund marketing and product development efforts

Implement brand standardsIntegrate loyalty programInvest in sales/marketingRevenue management program

100+ deals in progressExecuted 15 hotel contracts YTDOpened five hotels YTDRe-branded 16 WVO propertiesCorinthia JV for 11 international properties

Progress To Date

Wyndham Master Brand Strategy

Position Wyndham flagship and Wingate brands asvalue-added alternatives to competitive brands.

For every kind of traveler. For every kind of trip.

18

Wyndham Master Brand Strategy

HI

Wingate PipelineWyndham Hotel Wyndham Vacation Ownership

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19

Wyndham Master Brand Strategy

Wyndham brand has delivered strong performancein key markets

112.1Palm Springs

104.5Miami

101.3Chicago

101.1San Diego

112.4Atlanta

113.9Denver

119.6Houston

RevPARIndex*

* RevPAR Index from STR, WYN hotels vs. market, market = 100

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Wyndham Collection

Historic Hotels: Galveston, Texas

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21

Wyndham Collection

Historic Hotels: The St. Anthony, San Antonio, Texas

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22

Wyndham Resorts

Grand Bay Isla Navidad, Mexico

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23

Wyndham Hotels

Chicago

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24

Wyndham Hotels

Cleveland Playhouse Square, left, Miami Airport & Executive Meeting Center

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25

Wyndham Resorts

Sugar Bay, St. Thomas, Virgin Islands

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26

Wyndham Garden

Overland Park, Kansas

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Jacksonville, Fla.: conversion

Wyndham development activity

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28

Initiatives

Operating growth

Progress To Date

International Strategy

Pursue tuck-in acquisitions and multi-unit development dealsDrive mixed-use opportunitiesLeverage RCI developer network

Approximately 25% of pipeline is internationalSigned multi-unit development deals in EMEA, APAC and LAMCompleted JVs to develop and manage hotels in Europe and China

Refine global brand positioningInvest in sales/marketing to drive reservation contributionImplement essential operational and system efficienciesUtilize RCI global infrastructure

Developed regional marketingco-opsLaunching multi-lingual Web sitesExpanded in-country marketing structureEstablished and expanded General Sales Agent network

Grow International core brands: Wyndham, Ramada, Days Inn, Super 8, Howard Johnson

System Growth

For every kind of traveler. For every kind of trip.

29

Successfully expanded into EMEA, Asia Pacific and Latin America over past three years

8,322

11,344

18,250 - 18,750

13,000 -13,500

7,836

5,244

0

5,000

10,000

15,000

20,000

25,000

2004 2005 2006E

Total Asia PacificChina

3,087

4,000 - 4,500

4,228

0

1,000

2,000

3,000

4,000

5,000

2004 2005 2006E

Total LatinAmerica

32,000 - 32,550

22,84925,083

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

2004 2005 2006E

Total EMEA

EMEA Asia Pacific Latin America

Source: Internal

International Performance

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30

International Development

Development Activity

Ireland

France

India

Italy

Tunisia

Korea

Egypt

Honduras

Belgium

Netherlands

Germany

Czech Republic

Romania

HungarySaudi Arabia

Peru

ChinaArgentina

Australia

U.K.

U.A.E.Mexico

Malta

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31

International: Corinthia

St. Petersburg, left, and Prague

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32

International: Corinthia

Budapest

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33

China joint venture

First project: 140-room Ramada Encore in Wuxi, China

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34

Days openings

Days Inn Shenzhen

Days Hotel Kilkenny

Days Inn Ferrybridge

Days Hotel Dublin Airport

Days Inn Joiest Beijing

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35

Super 8 openings

Super 8 Beijing Dong

Super 8 Tianjin Jian GongSuper 8 Shanghai He Jing Super 8 Shenzhen Peng Yue Mei Lin

Super 8 Shanghai Feng Ye Nanzhan

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36

Ramada openings

Ramada Plaza Cheongju

Ramada Hotel Dresden

Ramada Plaza Guangzhou

Ramada Osaka

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37

Rooms, Rooms, Rooms

International Business

30

80

130

180

230

2006 2007 2008 2009 2010

International-Medium International-High International-Low

39%

33%

26%

CAGR

Base Business

450

455

460

465

470

475

480

485

490

495

2006 2007 2008 2009 2010

Base-Medium Base-High Base-Low

2%

1.5%

1.0%

CAGR

Wyndham/Wingate Business

30

35

40

45

50

55

60

65

70

75

2006 2007 2008 2009 2010

Wyndham/Wingate-Medium Wyndham/Wingate-Low Wyndham/Wingate-High

11%

8%

6%

CAGR

Note: Rooms in thousands

Combined Business

535.0

585.0

635.0

685.0

735.0

785.0

2006 2007 2008 2009 2010

Combined-High Combined-Medium Combined-Low

7%

6%

4%

CAGR

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38

Summary

Strategic transformationDiversification of portfolio

InternationalUpscaleManagement Company

Strengthened base business value propositionPerformance

Consistent revenue and earnings growthGoing forward

Optimize performance of North American Economy/Mid-scale portfolioPosition Wyndham flagship and Wingate brands as value-added alternatives to competitive brandsGrow International core brands: Wyndham, Ramada, Days Inn, Super 8, Howard Johnson