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☆ Choice Hotels surrenders its $8 billion hostile takeover attempt of rival chain, Wyndham
▼ + stars: | 2024-03-11 | by ( ) www.cnbc.com time to read: +1 min

A screen displays the logo for Wyndham Hotels & Resorts, Inc. at the New York Stock Exchange (NYSE) in New York City, U.S., June 5, 2023. Choice Hotels is abandoning its hostile $8 billion takeover bid for Wyndham Hotels & Resorts . Choice launched a hostile takeover offer for Wyndham in December after repeated attempts to reach a deal with the rival hotel chain were rebuffed. Choice's exchange offer expired on Friday. "The Wyndham board is pleased that Choice has ended its hostile pursuit and proxy contest, following the expiration of its unsolicited exchange offer," Wyndham Chairman Stephen Holmes said in a news release.

Persons: Wyndham, Stephen Holmes Organizations: Wyndham Hotels & Resorts, Inc, New York Stock Exchange, Choice, Wyndham, Ramada Locations: New York City, U.S, La Quinta

[1/2] The company logo for Choice Hotels is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 17, 2017. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 27 (Reuters) - Choice Hotels International (CHH.N) is preparing to nominate directors to the board of rival Wyndham Hotels & Resorts (WH.N), seeking to break a stalemate in an $8 billion takeover battle, people familiar with the matter said. This gives Choice the right to nominate directors to Wyndham's board come January. It is also preparing to launch a tender offer for Wyndham's shares that would show Wyndham's investors that there is a firm offer on the table, according to the sources. Rockville, Maryland-based Choice operates nearly 7,500 hotels in 46 countries, including brands such as Radisson, Country Inn & Suites, and Cambria Hotels.

Persons: Brendan McDermid, Wyndham, Parsippany, Pat Pacious, Stephen Holmes, Anirban Sen, Jonathan Oatis Organizations: New York Stock Exchange, REUTERS, Wyndham Hotels & Resorts, Ramada, Wyndham, Cambria Hotels, Choice, Thomson Locations: New York, U.S, United States, Parsippany , New Jersey, Rockville , Maryland, Radisson, Cambria

☆ Wyndham board deems Choice Hotels' new offer "a step backwards"
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +2 min

A screen displays the logo for Wyndham Hotels & Resorts, Inc. at the New York Stock Exchange (NYSE) in New York City, U.S., June 5, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 21 (Reuters) - U.S. budget hotel operator Wyndham Hotels and Resorts (WH.N) said on Tuesday a new letter from Choice Hotels (CHH.N) "represents a step backwards" and the terms outlined are not in the best interests of Wyndham or its shareholders. Choice had made a $7.8 billion cash-and-stock acquisition offer worth $49.50 in cash and 0.324 shares of its common stock for each share of Wyndham. It said it first approached Wyndham in April with an $80 per share offer, which it later bumped up to $85 and then to $90 per share. A potential merger would have married Choice Hotels' brands such as Econo Lodge, Quality Inn and Clarion with Wyndham's Days Inn and Travelodge, offering inflation-hit customers a wide choice of affordable hotels.

Persons: Brendan McDermid, Wyndham, Patrick Pacious, Stephen Holmes, Pacious, Kannaki, Shailesh Organizations: Wyndham Hotels & Resorts, Inc, New York Stock Exchange, REUTERS, Wyndham Hotels, Resorts, Choice, Wyndham, Thomson Locations: New York City, U.S, Clarion, Bengaluru

☆ Choice Hotels eyes U.S. budget hotel giant with $7.8 bln Wyndham buy
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +1 min

[1/2] Geoffrey Ballotti, CEO of Wyndham Hotels & Resorts, Inc. rings the opening bell at the New York Stock Exchange (NYSE) in New York City, U.S., June 5, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 17 (Reuters) - Choice Hotels (CHH.N) on Tuesday proposed to acquire Wyndham Hotels and Resorts (WH.N) for about $7.8 billion in a cash and stock deal that would create a U.S. budget hotel giant. Demand for affordable hotels such as Choice and Wyndham are on the rise as persistent high inflation and recession sap consumer spending on travel. Choice offered Wyndham shareholders $90.00 per share, including $49.50 in cash and 0.324 shares of its common stock for each Wyndham share owned. As of yesterday's close, Choice had a total market capital of $6.29 billion, Wyndham's stood at $5.82 billion.

Persons: Geoffrey Ballotti, Brendan McDermid, Wyndham, Wyndham's, Priyamvada, Shinjini Organizations: Wyndham Hotels & Resorts, Inc, New York Stock Exchange, REUTERS, Wyndham Hotels, Resorts, Wyndham, Reuters, Thomson Locations: New York City, U.S, Bengaluru

Choice Hotels International is asking shareholders of rival chain Wyndham Hotels & Resorts to sign off on a buyout worth nearly $8 billion after Wyndham broke off negotiations, the company said Tuesday. Choice's proposal allows Wyndham shareholders to choose either cash, stock, or a combination of cash and stock. Choice first approached Wyndham in April, offering $80.00 per share, with 40% of that cash and 60% Choice stock, but was rejected, Choice said. But, according to Choice, Wyndham voiced concerns about regulatory approval in September and also the value of Choice stock. Shares of Wyndham Hotels & Resorts Inc. jumped more than 15% before the opening bell Tuesday, to $82.40.

Persons: Wyndham, “, Patrick Pacious, ”, Howard Johnson Organizations: Wyndham Hotels, Resorts, Wyndham, Choice, Ramada, Resorts Inc, Inc Locations: Rockville , Maryland, Wyndham, La Quinta, Parsippany , New Jersey

☆ Stocks making the biggest moves premarket: Wyndham Hotels, Dollar Tree, Johnson & Johnson and more
▼ + stars: | 2023-10-17 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Wyndham Hotels & Resorts , Choice Hotels — Choice Hotels dropped 2.3% after the hotel chain proposed buying Wyndham Hotels & Resorts for $90 per share, valuing Wyndham at roughly $7.8 billion. Analysts surveyed by LSEG, formerly Refinitiv, were looking for 82 cents in earnings on $25.14 billion of revenue. Bank of New York Mellon earned $1.22 per share on $4.37 billion in revenue in the quarter, exceeding analysts' estimates on both lines. Johnson & Johnson -- Shares of the multinational drug and medical equipment maker gained nearly 2% after third-quarter earnings and sales topped analyst estimates. Lockheed Martin reported earnings of $6.73 per share, surpassing expectations of $6.67 per share, according to estimates from LSEG.

Persons: Wyndham, Charlotte, Goldman Sachs, Johnson, Lockheed Martin, —, Jesse Pound, Michelle Fox Theobald, Brian Evans Organizations: Wyndham Hotels & Resorts, Bank of America, LSEG, Goldman, Bank of New York Mellon, Johnson, Fortrea Holdings, Wall Street Journal, Lockheed, LSEG . Revenue Locations: Charlotte , NC, LSEG

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Persons: Read, We're, Uber, Peacock, Uber Cash, Merrill, Miles you've, Miles, There's, gofree Wyndham, you'll, You'll, It's, Chase, Cardholders, cardholders, you've, Wyndham Organizations: Excellent Credit, Capital, One, Chevron, American Express, American, Express, Hilton, Marriott, Saks, Entertainment, Disney, ESPN, The New York Times, Street, Walmart, Credit, TSA, Global, Saks Fifth, Reading Chevron, Target, Chase, Bank of America, Bank of America's, of America, Bank of America Travel Center, Wyndham, Business, Venture, Resorts, Saks Fifth Avenue, The Bank of America, Rewards, Barclays, Wyndham Rewards, Diamond, Vacasa Locations: Hulu, Wells, Wyndham

Wyndham credit cards earn points you can use for free stays at resorts like the Wyndham Grand Clearwater Beach. But it's not just about value, because Wyndham Rewards includes upscale Wyndham Grand, Origin, and Dolce locations, and lifestyle brands like Tryp and Trademark Collection. The easiest way to earn Wyndham points is with the chain's co-branded Barclays Wyndham credit cards, and right now all three are offering elevated welcome bonuses for a limited time. You'll earn 50,000 bonus points after spending $3,000 in the first 90 days, and 25,000 bonus points after spending $10,000 within the first 12 months. Earn Wyndham points from Citi and Capital One cards insteadIt's worth noting that you don't have to open a Wyndham credit card to earn Wyndham points.

Your credit score is only one of several factors that determine whether your credit card application will be approved. Note that credit card lenders may use many different variations of credit score models when considering your application. Credit Cards for Excellent Credit Frequently Asked QuestionsWhat is the best credit card for excellent credit? Can I qualify for a credit card without excellent credit? Compare the Best Credit Cards for Excellent Credit Capital One Venture X Rewards Credit CardChase Sapphire Preferred® CardBank of America® Premium Rewards® credit cardDiscover it® Miles Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

☆ Travel demand is hot, but some prices may cool: These are the stocks for spring break and beyond
▼ + stars: | 2023-02-18 | by ( Michelle Fox | ) www.cnbc.com time to read: +9 min

Last week, Hilton Worldwide CEO Chris Nassetta said, "The demand trends here and now are really strong." In the home-rental space, Airbnb also said it was seeing continued strong demand at the start of 2023. China's reopening from its Covid lockdown is also helping propel travel demand, as well as the tick up in business travel, she said. "The trends have been really strong since January," he said. Airlines like Delta, American Airlines and United Airlines cited strong travel demand and higher fares for fueling their strong fourth-quarter earnings — as well as for forecasts for this year.

☆ Wyndham CEO: Travel demand remains strong despite economic conditions
▼ + stars: | 2022-11-01 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWyndham CEO: Travel demand remains strong despite economic conditionsGeoffrey Ballotti, Wyndham Hotels and Resorts president and CEO, joins 'The Exchange' to discuss Wyndham's newest brand, Echo Suites by Wyndham, and the demand for hotels by consumers.

☆ You can transfer Citi ThankYou points to 14 airline and 2 hotel partners, and the best programs can save you thousands of miles on flights to destinations like Hawaii
▼ + stars: | 2022-09-16 | by ( Dan Miller | Jasmin Baron | Read More | ) www.businessinsider.com time to read: +30 min

Citi® Double Cash Card — This card recently changed from earning cash back to earning Citi ThankYou points directly. Otherwise, with the Citi Rewards+® Card, Citi ThankYou® Preferred Card, and Citi® Double Cash Card, the ratio is 5:4 (1,000 Citi ThankYou points = 800 Wyndham points). Citi ThankYou points retail transfer partnersIn addition to airline and hotel transfer partners, Citi ThankYou has one retail transfer partner. How to transfer Citi ThankYou pointsTransferring your Citi ThankYou points is a fairly straightforward process. Citi transfer partners frequently asked questions (FAQ)Is American Airlines a Citi transfer partner?

☆ Wyndham Rewards Earner Plus credit card review: A welcome bonus worth up to 6 free nights and automatic elite status for a moderate annual fee
▼ + stars: | 2021-11-05 | by ( Ariana Arghandewal | Read More | Read Less | ) www.businessinsider.com time to read: +29 min

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