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WYNDHAM HOTELS & RESORTS is quietly bouncing back after Choice Hotels International's failed takeover bid. The company reported a net income of $86 million for the second quarter ending June 30, a 22.8 percent increase from $70 million the previous year. Wyndham's global pipeline grew 7 percent year-over-year, with a 5 percent increase in the U.S. alone. Its net income increase was driven by higher adjusted EBITDA, a benefit from the reversal of a spin-off matter and a lower effective tax rate, Wyndham said in a statement. "The resilience and highly cash generative nature of our business model was once again on full display this quarter," said Geoff Ballotti, Wyndham's president and chief executive officer. "Amid a normalizing domestic RevPAR environment, we delivered strong adjusted EBITDA driven by net room and ancillary fee growth. We awarded 33 percent more hotel contracts domestically which grew our development pipeline to a record 245,000 rooms, and drove significant increases in our U.S, international and global royalty rates. Year-to-date, we've returned over $250 million to shareholders, representing 4 percent of our beginning market capitalization this year."