As part of its spinoff strategy, Wyndham is preparing to sell its European vacation-rental business.
Following the sale, La Quinta will proceed with plans to spin off its real estate assets into a publicly traded REIT under the name of CorePoint Lodging.
Wyndham Destinations, the timeshare spinoff of Wyndham Worldwide, is undertaking a massive expansion plan to enter new markets and update its branding.
The program follows a similar one established by Wyndham earlier this year aiming to increase the number of women-owned hotels.
Wyndham Hotels & Resorts announced plans for another 60 hotels under its Echo Suites brand as extended-stay hotels continue to outperform the broader industry.
Much of the new demand is expected to come from infrastructure project workers.
Wyndham has once again rebuffed Choice's proposal, calling the latest offer a "step backwards" in negotiation proceedings.
Wyndham's leaders said Choice's offer undervalues its growth potential and comes with major business and execution risks.
Wyndham added 500 new hotels to its system in 2023 despite what CEO Geoff Ballotti has described as a hostile and risk-laden takeover bid from Choice Hotels.
The hotel company previously positioned the partnership with Wyndham as “a tremendous leap forward for LuxUrban.”
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