On a long drive, a Ramada or La Quinta sign by the road may be your closest brush with Wyndham Hotels & Resorts. Yet the company owns almost none of the hotels carrying its names. It licenses its brands to independent owners. Most of them run budget and mid-priced hotels, and most of Wyndham's revenue comes from the United States. It also supplies the booking system, the advertising and the Wyndham Rewards loyalty program that bring guests in. Owners pay fees that rise and fall with the nights their guests stay.
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