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Choice Hotels

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business1 year ago•2 min saved

"Choice Hotels Abandons $8 Billion Takeover Bid for Wyndham"

Choice Hotels International has abandoned its $7.2 billion takeover bid for Wyndham Hotels & Resorts after failing to garner enough shareholder support. The exchange offer and director nominations have been withdrawn, and Choice will focus on its standalone strategy while increasing its share buyback authorization. Wyndham, which operates budget hotel brands, has expressed confidence in its standalone growth prospects. The decision to end the takeover bid could benefit Choice, with analysts speculating the possibility of another offer in the future.

via Yahoo Finance|

#business #choice-hotels #hotel-industry

business2 years ago•8 min saved

Franchise Owners Resist Choice Hotel-Wyndham Merger as Comfort Inn's Owner Pursues Hostile Takeover

Franchise owners of Choice Hotels are pushing back against the company's attempted merger with rival Wyndham Hotels, citing concerns about reduced competition and potential harm to their businesses. The Asian American Hotel Owners Association conducted a survey revealing that 77% of respondents believed the merger would negatively impact their hotels. Franchisees argue that consolidation in the industry has already tilted the balance of power in favor of brand owners, leaving them with fewer options and less leverage to demand better services at lower costs. The opposition from hotel owners could pose a hurdle for Choice Hotels as it seeks approval from the Federal Trade Commission for the merger.

via The New York Times|

#business #choice-hotels #franchisees

business2 years ago•4 min saved

Choice Hotels Launches Aggressive $8 Billion Takeover Bid for Wyndham

Choice Hotels has launched a hostile bid for Wyndham Hotels & Resorts after its previous $7.8 billion offer was repeatedly rejected. Choice Hotels, the owner of brands like Comfort Inn and Radisson's Americas operation, plans to appeal directly to Wyndham shareholders. The budget hotel segment is seen as the future of the industry, and a Choice-Wyndham merger would create a strong low-cost competitor against Marriott, Hilton, and IHG. The outcome remains uncertain as Wyndham's leadership has expressed concerns and will carefully review and evaluate the offer.

via The Points Guy|

#budget-hotel-segment #business #choice-hotels

business2 years ago•2 min saved

"Stock Market Movers: Oracle, Hasbro, and More Preparing for Today's Opening"

Google loses an antitrust case over its Play Store app market, Choice Hotels launches a hostile takeover bid for rival Wyndham Hotels & Resorts, vaccine maker Icosavax soars on a takeover offer from AstraZeneca, Boeing makes cuts to its strategy division, and the Consumer Price Index is projected to show inflation cooled in November.

via Investopedia|

#antitrust-case #astrazeneca #business

business2 years ago•3 min saved

Choice Hotels Launches Hostile Takeover Bid for Wyndham in $8 Billion Battle

Choice Hotels is launching a hostile takeover bid for Wyndham Hotels & Resorts after failed attempts to reach a deal. The offer, valued at about $8 billion, includes $49.50 in cash and 0.324 shares of Choice common stock per Wyndham share. Choice CEO Patrick Pacious expressed a preference for a negotiated agreement but stated that the refusal of Wyndham's board to engage left them with no choice. Choice will be meeting with Wyndham shareholders and starting the regulatory approval process. Wyndham's board will evaluate the offer and determine the best course of action.

via The Associated Press|

#business #choice-hotels #hostile-takeover

business2 years ago•3 min saved

Choice Hotels Launches Hostile Takeover Bid for Wyndham in M&A Battle

Choice Hotels is launching a hostile takeover bid for Wyndham Hotels & Resorts after being repeatedly rebuffed in its attempts to reach a deal. The offer, valued at about $8 billion, includes $49.50 in cash and 0.324 shares of Choice common stock per Wyndham share. Choice Hotels CEO Patrick Pacious expressed a preference for a negotiated agreement but stated that the Wyndham Board's refusal to engage left them with no choice. Choice Hotels will be meeting with Wyndham shareholders and starting the regulatory approval process. The exchange offer expires on March 8, 2024, and Choice Hotels is committed to completing the transaction within a year.

via Yahoo Finance|

#acquisition #business #choice-hotels

business2 years ago•0 min saved

Choice Hotels Launches Hostile Bid for Wyndham, Initiates Exchange Offer and Prepares for Board Battle

Choice Hotels is making a hostile takeover bid for Wyndham Hotels & Resorts after its previous attempts for a friendly deal were rejected. Choice Hotels has unveiled an exchange offer for Wyndham stock, directly appealing to its rival's shareholders. Wyndham argues that the deal would burden the combined company with excessive debt.

via The Wall Street Journal|

#business #choice-hotels #exchange-offer

business2 years ago•0 min saved

Wyndham Rejects Choice Hotels' $7.8B Takeover Offer

Choice Hotels has publicly announced a $7.8 billion takeover offer for Wyndham Hotels & Resorts, aiming to merge two of the largest budget hotel owners in the US. The companies had been in talks for several months before breaking off last month. Wyndham has rejected the offer, citing concerns about risk and undervaluation of its growth potential.

via The Wall Street Journal|

#budget-hotel-owners #business #choice-hotels

business2 years ago•4 min saved

Choice Hotels Launches Hostile Takeover Bid for Wyndham in $7.8 Billion Deal

Choice Hotels has proposed a $7.8 billion hostile takeover of Wyndham Hotels & Resorts, aiming to acquire the company and its brands such as La Quinta and Ramada. The potential deal comes as competitors like Marriott and Hilton enter the more affordable end of the hotel market where Choice and Wyndham have significant market share. Choice Hotels CEO Patrick Pacious believes the acquisition would accelerate both companies' long-term organic growth strategies and benefit franchisees, shareholders, associates, and guests. The combined company would offer a rewards and loyalty program on par with Marriott and Hilton, and provide customers with more options within the Choice-Wyndham ecosystem.

via The Points Guy|

#acquisition #business #choice-hotels

technology2 years ago•3 min saved

Choice Hotels Delays Implementation of New GenAI Despite Successful Use of AI

Choice Hotels, which has been using AI and machine learning for years, is holding off on integrating generative AI tools like OpenAI's ChatGPT into its systems due to concerns about accuracy, hallucinations, and intellectual property risks. However, the company is actively monitoring the technology and exploring its potential for future use in predicting booking patterns, identifying new locations, and managing property operations and revenue. Choice Hotels expects GenAI to ultimately change how guests plan their travel and provide opportunities for people to interact and solve problems like fraud analysis.

via Fox Business|

#ai #choice-hotels #early-adoption

business2 years ago•2 min saved

Choice Hotels in Talks to Acquire Wyndham Hotels & Resorts

Choice Hotels International is reportedly in talks to acquire Wyndham Hotels & Resorts, which would create a budget hotel giant in the US. The talks are in the early stages and it is unclear whether Wyndham is interested in pursuing a tie-up with Choice. If Wyndham decides not to proceed with a deal, Choice Hotels could choose to go hostile and take an offer directly to Wyndham's shareholders. The news comes at a time when high inflation and recession risks could sap consumer spending on travel and drive up demand for affordable hotels.

via Reuters.com|

#budget-hotels #business #choice-hotels

business2 years ago•1 min saved

Choice Hotels in Talks to Acquire Wyndham Hotels - WSJ

Choice Hotels International is reportedly seeking to acquire Wyndham Hotels & Resorts, which would create one of the largest budget hotel owners in the US, with brands including Days Inn and Econo Lodge. Choice Hotels has expressed its desire to grow in upscale segments.

via The Wall Street Journal|

#acquisition #budget-hotels #business