Wyndham says standalone growth prospects offer superior returns

Wyndham Hotels & Resorts (WH) CEO Geoff Ballotti said in the company’s earnings release, “We recently announced our Board of Directors unanimously rejected an unsolicited stock-and-cash proposal by Choice Hotels (CHH) to acquire our company. Our Board of Directors, together with our financial and legal advisors, closely reviewed Choice’s latest proposal and determined, for multiple reasons, that it is not in the best interest of our shareholders. They remain confident that our standalone growth prospects offer superior, risk-adjusted returns to Wyndham shareholders. Supporting that belief are our third quarter results, which were highlighted by continued growth in global RevPAR, ongoing domestic and international organic net room growth and another 8% increase in hotel contracts awarded to franchisees driving our development pipeline to a record 1,930 hotels…We’re enthusiastic about our ability to deliver exceptional value to our shareholders, guests, franchisees and team members in the months and years ahead.”