"Our plan to transform Wyndham is working," Fred J. Kleisner, chairman and CEO, says in a prepared statement. In the past year, Wyndham has cut 61 hotels from its portfolio, enabling EBITDA and RevPAR growth.

Fourth-quarter EBITDA is up 15.4% to $144.4 million, an increase of $19.3 million from the same period a year ago. Actual EBITDA has come in 8.4% higher, tallying $153 million in comparison to 1999's $141.2 million.

Wyndham has experienced higher than anticipated RevPAR growth in owned and leased properties. The fourth quarter is up 4.4% from 1999. Wyndham-branded comparable owned and leased hotels led the company with a 5.7% RevPAR jump.

Wyndham did report a $170.4-million net loss in the fourth quarter mainly due to an earnings charge, says the company. It has amounted to $1.18 per diluted share in comparison to $1.05 per diluted share in 1999. The non-recurring charge had totaled $165.2 million net of taxes or 99 cents per diluted share. The company says its loss would have only been $5.2 million without the charge, which has been deemed essential to offsetting future losses with regard to asset sales. Wyndham's ongoing sale of non-strategic properties will offset the impairment charge. In the fourth quarter, the hotel operator had sold $140.6 million in assets, including a United Kingdom holding.

The year-end accounting shows a $324.7-million net loss last year in comparison to $.107 billion in 1999. The yearlong net loss amounts to $2.56 per diluted share whereas 1999 had hit at $7.20 per diluted share.