1
EXHIBIT 11
WYNDHAM HOTEL CORPORATION
COMPUTATION OF EARNINGS PER SHARE
QUARTER AND NINE MONTHS ENDED SEPTEMBER 30, 1996 AND 1997
(AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA)
QUARTER ENDED NINE MONTHS ENDED
SEPTEMBER 30 SEPTEMBER 30
------------------------ -------------------------
1996 1997 1996 1997
---------- ---------- ---------- ----------
Primary Earnings Per Share:
Number of Shares:
Common stock outstanding 20,018 21,097 20,018 20,382
Assumed exercise of stock options* -- -- -- --
---------- ---------- ---------- ----------
20,018 21,097 20,018 20,382
========== ========== ========== ==========
Income before extraordinary item $ 2,769 $ 3,676 $ 21,560 $ 10,501
Extraordinary item -- (298) (1,131) (298)
---------- ---------- ---------- ----------
Net Income $ 2,769 $ 3,378 $ 20,429 $ 10,203
========== ========== ========== ==========
Earnings per common share outstanding:
Income before extraordinary item $ .14 $ .17 $ 1.08 $ .52
Extraordinary item -- (.01) (.06) (.02)
---------- ---------- ---------- ----------
Net Income $ .14 $ 16 $ 1.02 $ .50
========== ========== ========== ==========
Fully Diluted Earnings Per Share:
Number of Shares:
Common stock outstanding 20,018 21,097 20,018 20,382
Assumed exercise of stock options* -- -- -- --
---------- ---------- ---------- ----------
20,018 21,097 20,018 20,382
========== ========== ========== ==========
Income before extraordinary item $ 2,769 $ 3,676 $ 21,560 $ 10,501
Extraordinary items -- (298) (1,131) (298)
---------- ---------- ---------- ----------
Net Income $ 2,769 $ 3,378 $ 20,429 $ 10,203
========== ========== ========== ==========
Earnings per common share outstanding:
Income before extraordinary item $ .14 $ .17 $ 1.08 $ .52
Extraordinary item -- (.01) (.06) (.02)
---------- ---------- ---------- ----------
Net Income $ .14 $ .16 $ 1.02 $ .50
========== ========== ========== ==========
* Dilution from assumed exercise of stock options is less than 3 percent of
earnings per common shares outstanding, therefore, is not included in the
calculation.