The battle between Wyndham Hotels & Resorts and its would-be buyer, Choice Hotels, is heating up after Wyndham issued a stinging response to Choice’s hostile take-over offer of $7.8 billion.
Wyndham’s board chair, Stephen Holmes, told investors on a call last Thursday that Wyndham wants nothing to do with the offer, saying that Choice is a desperate suitor looking to cover its own troubles. He said “With no organic growth, a less vibrant loyalty program, and virtually no international capabilities in Choice’s platform, we are frankly not surprised. Our business offers a medicine cabinet full of remedies.”
The two chains had been in merger or acquisition discussions recently until Choice broke off talks and made its offer. Ironically, some two decades ago, Wyndham was negotiating to buy Choice.
