Breaking News: Choice Abandons Wyndham Acquisition Bid

Choice Hotels International has ended its attempt to acquire Wyndham Hotels & Resorts after the expiration of its exchange offer and withdrawal of board nominations for the 2024 Annual Meeting. 

Despite efforts to negotiate, Choice withdrew due to Wyndham's lack of constructive engagement. Wyndham, which opposed the acquisition, is confident in its standalone strategy. 

In the article by Hotel Management, a quote from Wyndham’s President & CEO sums up the direction the major franchise is heading: “Wyndham is focused on moving ahead with the execution of our strategic plan, building on our success, and generating meaningful value," said President and CEO Geoff Ballotti. "We look forward to doing so without the unnecessary distraction of this situation and disruption to our business. We would like to thank our shareholders and franchisees for their continued support and our team members for their dedication and focus throughout this process.”

Following the news, Wyndham shares fell 4.5%, while Choice shares rose 3%. Choice plans to increase its share repurchase program by five million shares and focuses on its standalone strategy for future growth.

AAHOA played a pivotal role in halting the merger by advocating on behalf of America's hotel owners, voicing concerns about the negative impact on franchisees and the hotel industry.

Stay tuned for AAHOA’s official statement on the matter.

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