Choice Hotels Explores Buying Wyndham Hotels & Resorts
Choice Hotels International is looking to acquire Wyndham Hotels & Resorts, the Wall Street Journal reported on Tuesday.
The talks between the companies are at an early stage and it is not clear whether Wyndham is interested in a merger with Choice.
But WSJ source added that if Wyndham decides not to proceed with a deal, Choice Hotels could choose to go hostile and take an offer directly to Wyndham’s shareholders.
After the news broke, shares of Wyndham Hotels closed 5.1% higher, while Choice Hotels ended about 4.6% lower.
Choice Hotels International is based in Rockville, Maryland. The company, which is one of the largest hotel chains in the world, owns several hotel brands ranging from upscale to economy. It counts more than 7,100 hotels in more than 40 countries and territories worldwide, representing nearly 600,000 rooms, in addition to 1,035 hotels under construction with more than 85,000 rooms.
Wyndham Hotels & Resorts is based in Parsippany, New Jersey, United States. It describes itself as the largest hotel franchisor in the world, with 9,280 locations. Wyndham has a portfolio of 20 hotel brands, including Baymont, Days Inn, Howard Johnson, La Quinta, Ramada, Super 8, Travelodge, and Wyndham. The company was formed in 2018, as a spin-off from Wyndham Worldwide.
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I’m glad I cleared out my Wyndham points at a penny a point via Caesar Sportbook (and also won betting it through once). If you could still get Caesar Diamond status (without a business card) I would be concerned,
I would rather see Hyatt pursue Wyndham to continue adding to Hyatt’s growing portfolio. Wyndham does have higher-end brands as well as budget friendly properties.
Interesting. I consider 80 percent of Wyndham’s portfolio to be dumps. But that’s just me. Unless Hyatt turn them all into Hyatt Houses (which tend to be dumps), not sure how it would fit there, either.