There has been a lot of buzz about Choice International’s offer to buy Wyndham Hotels & Resorts, which, in turn, has generated some uncertainty and confusion. Choice keeps pushing its position publicly but is not in current negotiations with Wyndham. Through PR, interviews, and public filings, it is trying to push Wyndham to a deal. The following is intended to address many of the commonly asked questions. All information is based on publicly available sources, and nothing discussed should be taken as a recommendation to buy or sell any stock nor to enter into any agreements.

On October 17, 2023, Choice offered to acquire all shares of Wyndham for $90 per share, comprised of $49.50 per share in cash and the remainder in Choice common stock. This offer was made publicly despite Wyndham not being engaged in discussions with Choice at the time.

AAHOA members reportedly own more than 60% of Choice- and Wyndham-branded hotels, and the organization is concerned that the combined company would have more than 16,500 hotels and 46 brands, totally dominating the U.S. economy, midscale and upper-midscale hotel segments. A combined company would weaken the power of franchisees, force them to share the same brand reservation systems and would weaken any applicable areas of protection. In addition to opposing the deal, AAHOA has already pushed for an FTC investigation and has indicated that it will try to block any antitrust approval.

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