Hotel brand company Choice Hotels International — based in Rockville, Maryland, with nearly 7,500 open hotels in more than 40 countries — has gone public with its bid to acquire rival brand Wyndham Hotels & Resorts, which has more than 9,000 hotels globally.
If a deal were to go through, the combined company would have more than 1.48 million hotel rooms open globally. Marriott International, by comparison, has approximately 1.52 million rooms in its global portfolio.
Wyndham's board of directors have rejected Choice's offer, calling it "underwhelming."
For the latest coverage of this proposed deal, click through the links below, which are ordered with the most recent news at the top of the list.
- article6 Min ReadMarch 11, 2024 09:16 AMChoice Hotels International executives said the response to their exchange offer for Wyndham Hotels & Resorts shares was "significant" but "not sufficient" to continue a takeover attempt, and they have withdrawn their slate of candidates to Wyndham's board of directors.
- article4 Min ReadMarch 19, 2024 09:19 AMAnalysts who cover both Choice Hotels International and Wyndham Hotels & Resorts say Choice must build a platform to grow internationally, and Wyndham must now deliver on its promise of better growth as a standalone company.
- article2 Min ReadDecember 18, 2023 10:23 AMWyndham Hotels & Resorts' Board of Directors is recommending its shareholders reject Choice Hotels International's latest offer to buy up shares in a hostile takeover of the brand company.
- article1 Min ReadDecember 15, 2023 08:45 AMAfter eight months of attempted negotiations, Choice Hotels International officially has launched a hostile takeover of Wyndham Hotels & Resorts to create a dominant player in economy and midscale hotels.
- article5 Min ReadDecember 14, 2023 08:35 AMBoth hostile merger attempts and worries about antitrust scrutiny are rare in hotel industry mergers and acquisitions.
- article2 Min ReadDecember 13, 2023 09:35 AMTruist Securities' C. Patrick Scholes says Choice Hotels International's decision to engage in a hostile takeover of Wyndham Hotels & Resorts was a necessary step after discussions between the two companies fizzled out.
- article4 Min ReadDecember 12, 2023 09:27 AMChoice Hotels International announced a formal exchange offer for all outstanding Wyndham Hotels & Resorts stock including $49.50 in cash and 0.324 of a share of Choice common stock.
- article2 Min ReadNovember 27, 2023 04:44 PMChoice Hotels International responded to a report it was buying shares of Wyndham Hotels & Resorts to sway board votes by saying it is "committed to reaching a transaction with Wyndham."
- article6 Min ReadNovember 07, 2023 01:59 PMChoice Hotels International President and CEO Pat Pacious reaffirmed the brand's interest in acquiring Wyndham Hotels & Resorts despite Wyndham's strong rejection.
- article3 Min ReadOctober 26, 2023 09:30 AMWyndham Hotels & Resorts executives, buoyed by a strong third quarter, are standing firm in their rejection of a proposed acquisition by Choice Hotels International.
- article6 Min ReadOctober 26, 2023 11:17 AMIn a 30-page presentation and on its third-quarter earnings call, Wyndham Hotels & Resorts detailed its reasons for rejecting a purchase offer from Choice Hotels International.
- article2 Min ReadOctober 18, 2023 10:40 AMMembers of the Asian American Hotel Owners Association worry that a combined Choice Hotels International and Wyndham Hotels & Resorts will give them little opportunity to have a say in franchise mandates.
- article1 Min ReadOctober 19, 2023 09:39 AMIn this podcast interview, C. Patrick Scholes of Truist Securities talks about Choice Hotels' bid to acquire Wyndham Hotels & Resorts.
- article1 Min ReadOctober 18, 2023 10:06 AMIn light of news that Choice Hotels International is pursuing Wyndham Hotels & Resorts, an infographic lays out how the two stack up.
- article1 Min ReadOctober 19, 2023 09:42 AMWe break down the brand portfolios of Choice Hotels International and Wyndham Hotels & Resorts by chain scale.
- article6 Min ReadOctober 17, 2023 09:44 AMChoices Hotels International executives are publicly offering $90 a share in combined cash and stock to purchase Wyndham Hotels & Resorts after saying Wyndham executives walked away from earlier negotiations.
- article3 Min ReadOctober 19, 2023 09:17 AM