Wyndham Hotels & Resorts is celebrating a major milestone for its award-winning Women Own the Room initiative, surpassing 15 hotel openings and more than 50 signings in just over 24 months.
Wyndham Hotels & Resorts (NYSE: WH) today commented on the expiration of Choice Hotels International, Inc.'s (NYSE: CHH) exchange offer and its decision to withdraw its slate of nominees for election to Wyndham's Board of Directors at the 2024 Annual Meeting of Shareholder.
Depending on participation, Choice intends to either extend or terminate the exchange offer and will evaluate next steps related to its nomination of a slate of independent directors for election to the board of directors of Wyndham.
System-wide rooms grew organically by 3.5% year-over-year, a record high. Development pipeline grew 1% sequentially and by 10% year-over-year to a record 240,000 rooms.
Nominees Selected to Rubber-Stamp Choice's Underwhelming and Risk-Laden Offer - Board Remains Open to an Offer That is in Best Interests of Wyndham and its Shareholders
This marks sbe's first hotel brand after the 2020 sale of its hospitality brand and management platform which included over 100 hotels (SLS, Delano, Mondrian and Hyde, among others), more than 150 restaurants and lounges, and over $4 billion of luxury residential sales.
Offer Continues to Undervalue Wyndham and Exposes Wyndham Shareholders to Significant Asymmetrical Risk
Wyndham Board Believes the Company Can Deliver Long-Term Shareholder Value in Excess of the Current $85 Per Share in Cash and Stock Offered by Choice
Urges Shareholders Not to Take Action at This Time
Choice Looks to Impose Two Years of Regulatory Limbo and Significant Business Risk on Wyndham Shareholders and Fails to Address Substantial Concerns with Prior Offer Now Valued at $86