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Wyndham Hotels & Resorts rejected an unsolicited $8 billion buyout offer from Choice Hotels, a smaller chain that went public with its bid after negotiations broke down.

Under Choice's proposal, the $90.00 per share to be received by Wyndham shareholders would consist of $49.50 in cash and 0.324 shares of Choice common stock for each Wyndham share they own.

The proposal implies a total equity value for Wyndham of approximately $7.8 billion on a fully diluted basis. With the assumption of Wyndham's net debt, the proposed transaction is valued at approximately $9.8 billion.

Choice is making its latest proposal public following Wyndham's decision to disengage from further discussions with Choice, following nearly six months of dialogue.

Patrick Pacious, President and Chief Executive Officer of Choice Hotels, said, "We have long respected Wyndham's business and are confident that this combination would significantly accelerate both Choice's and Wyndham's long-term organic growth strategy for the benefit of all stakeholders. For franchisees, the transaction would bring Choice's proven franchisee success system to a broader set of owners, enabling them to benefit from Choice's world-class reservation platform and proprietary technology to drive cost savings and greater investment returns. Additionally, the value-driven leisure and business traveler would benefit from the combined company's rewards program, which would be on par with the top two global hotel rewards programs, enabling them to receive greater value and access to a broader selection of options across stay occasions and price points."

Wyndham, which runs Days Inn, La Quinta, Ramada and a host of other brands, called the proposal “opportunistic” and said that it undervalues its growth potential. The offer was rejected unanimously by its board, the company said.

“Choice's offer is underwhelming, highly conditional and subject to significant business, regulatory and execution risk," Wyndham Chairman Stephen Holmes said in a prepared statement. "Choice has been unwilling or unable to address our concerns.”

Wyndham has engaged Choice and its advisors’ multiple times to explore the risks of a potential deal, Holmes said, but decided it would likely take more than a year to determine what would be required to clear antitrust review.

Choice Hotels International said it went public with its bid after six months of negotiations broke down.

“A few weeks ago, Choice and Wyndham were in a negotiable range on price and consideration, and both parties have a shared recognition of the value opportunity this potential transaction represents, said Choice CEO Patrick Pacious. ” We were therefore surprised and disappointed that Wyndham decided to disengage. While we would have preferred to continue discussions with Wyndham in private, following their unwillingness to proceed, we feel there is too much value for both companies’ franchisees, shareholders, associates, and guests to not continue pursuing this transaction."

Wyndham shareholders, under the most recent offer, would be able to choose either cash, stock, or a combination of cash and stock. Wyndham would also get two seats on the new board.

The deal has a total value of about $7.8 billion. When including debt, it's valued at approximately $9.8 billion. Choice operates about 7,500 hotels in 46 countries. It's seeking to absorb a much larger chain in Wyndham, which operates nearly 9,300 hotels that also include Howard Johnson, Super 8 and Travelodge.

Wyndham, based in Parsippany, New Jersey, posted a profit of $355 million last year with revenue of $1.5 billion.

Wyndham's shares are up more than 170% since its stock price tumbled close to $25 each at the start of the pandemic.

 
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October 2nd and 3rd saw ORHMA (The Ontario Restaurant Hotel & Motel Association) host the second Ontario Hospitality Conference in Richmond Hill, Ontario. The conference run by long-term ORHMA Board Director Jason Cheskes, welcomed approximately 400 attendees, and opened with a networking reception where ORHMA provided an update on activities to support the development and attraction of people into the hospitality industry. This was followed by the awarding of “OHI – We Are Hospitality” Hall of Fame Awards (formerly knows as Fellows of the OHI). After a hiatus with new awards for the Hall of Fame since 2018, OHI inducted 26 Hospitality professionals from the Hotel, Culinary, Supply and Education sectors. Winners can be viewed at https://www.weareohi.ca/hall-of-fame

The main conference took place the following day lead by Master of Ceremonies, the highly regarded Chef John Higgins who led the conference through the day’s educational sessions on current key hospitality topics. Following a welcome by the Mayor of Richmond Hill, the day started with a review of the State of the Industry by Robert Carter of StratonHunter and Nicole Nyugen from CBRE followed by top speakers and panels covering many topics including: Addressing gaps in hospitality recruitment, training and career development of people in hospitality. Breakout sessions covered Food & Beverage Profitability, Technology in Hospitality, Hospitality Employment Law, and Managing your Online Profile with speakers from TripAdvisor, Expedia and OpenTable. Closing out the day were sessions on the evolved needs of Leadership and an examination of Tipping Culture, an example of an operator eliminating the tipping model and outcome, and consideration of legal and tax implications relating to gratuities.

The day also included a supplier marketplace of 50 vendors from across the spectrum of hospitality goods and services and saw delegates awarded over $10,000 in supplier provided raffle prizes at the end of the conference.

Tony Elenis, President and CEO of the ORHMA shared “we are thrilled to have put on another successful conference to help the industry. We have been receiving tremendous feedback since, especially on how the subject matter and speakers delivered on our commitment to offer sessions that provide useful and actionable take-aways for the delegates when they return to their businesses. We are very appreciative of the support from our sponsors, marketplace participants, speakers and the industry as a whole, and we look forward to beginning work on next year’s conference and other events in the coming weeks.”

Information and photos from the conference can be found at https://www.ontariohospitalityconference.com/

 
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Vancouver, BC (October 10, 2023) — Location, location, location. In a city obsessed with real estate, Vancouver is a place that recognizes prime placement. The Westin Bayshore, Vancouver, has it, winning the Best Prime Location Award in Canada in the 2023 Haute Grandeur Global Hotel Awards.
 
Established in 2014, these awards recognize top-rated hotels around the world that offer exceptional customer service, high standards in all aspects of the hotel and unparalleled experiences for their guests. What makes these awards different is that they’re based on feedback from guests — not quantity of votes, nor selection by a panel of industry judges.
 
“We are fortunate to have offered guests this privileged location for more than six decades,” says Paul Cannings, the hotel’s general manager. “Views of the ocean and mountains, plus the ability to walk the seawall into an urban rainforest, gives it the feel of a wellness retreat — right in downtown Vancouver.” The matchless location, neighbourhood and amenities — from the poolside Trailer Vic’s camper bar to the Secret Garden and Winterlust dining domes to cedar barrel saunas — are showcased for global guests in a stunning new video.
 
What was once the Bayshore Inn opened in 1961 on the west edge of Vancouver’s downtown harbour, close to the city’s famed Stanley Park. It was acquired by Westin Hotels in 1981 and was extensively renovated and redeveloped in 2015. Today, its unique indoor and outdoor pools, world-class wellness and recreation facilities, plus locavore dining at H Tasting Lounge and H2 Kitchen + Bar, make it an unparalleled urban resort destination. The property offers 71,000 square feet of Westin Work Well event and conference space for private and corporate events.

In winning this award, The Westin Bayshore, Vancouver, joins the elite ranks of global hotels and resorts that represent the best of the best in their countries and regions. Feedback on thousands of hotels worldwide was scrutinized to select winners. "These hotels truly represent the best in the industry," said Marinique de Wet, president and founder of the Haute Grandeur Global Hotel Awards. "Their outstanding commitment to excellence has set them apart from others and has made them the ultimate choice for travellers around the world looking for quality business and leisure hotel experiences.”
 
Other winners of Best Prime Location Awards this year for their country or region include Hillside Beach Club on the Aegean Coast of Turkey; the chic INK Hotel boutique property in the heart of Amsterdam; and The Westin Abu Dhabi Golf Resort & Spa.

Images that highlight “Best Prime Location” and the Awards’ demographics:
Vancouver Skyline Hero Image: Click here
Main – Courtyard Hero Image: Click here to download Courtyard, Pool, Mountains image
Sauna Images: Pool deck walking – Click here; Sauna wide shot – Click here
Lanai Guestroom – Click here
Year-round Outdoor Pool – Click here
Afternoon Tea at H Tasting Lounge: Click here - wide / Click here - narrow
BikeWESTIN & Seawall – Click here

 
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WASHINGTON – 20 October 2023 – Canada’s hotel industry continued a stretch of year-over-year performance growth, according to CoStar’s September 2023 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 

September 2023 (percentage change from September 2022):

Occupancy: 75.3% (+1.5%)

Average daily rate (ADR): CAD222.02 (+8.1%)

Revenue per available room (RevPAR): CAD167.14 (+9.7%)  

“Although economists are predicting an economic downturn, Canada’s hotel sector remains on solid footing,” said Laura Baxter, CoStar Group’s director of hospitality analytics for Canada.

“Room rates continue to drive overall performance, with healthy growth across all segments – that balance remains one of the biggest success stories this year. Occupancy, on the other hand, remains nuanced among the segments.

“Transient demand grew a staggering 14% against 2019, while group was down 16% against pre-pandemic levels, in line with the trends seen over the past few months. Weekend and weekday occupancy remained ahead of 2019 levels, suggesting business transient demand has improved. Submarkets most reliant on large national accounts, however, are still lagging.”

Among the provinces and territories, Nova Scotia recorded the highest September occupancy level (81.1%), which was 0.7% below 2022.

Among the major markets, Vancouver saw the highest occupancy (86.6%), which was 0.5% ahead of September 2022.

The lowest occupancy among provinces was reported in Saskatchewan (63.5%), up 2.6% against 2022. At the market level, the lowest occupancy was reported in Edmonton (+8.8% to 63.8%).

“Weekday occupancy in Canada’s largest urban centers continues to lag, but downtown Toronto saw a vast improvement in the metric, down just five percentage points. While September room rates are usually the highest of the year in the area, ADR pushed to $405 – a record-high for downtown Toronto.”

For more information about the company and its products and services, pleasevisitwww.costargroup.com.

 
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TORONTO, ON (October 19, 2023) – Realstar Hospitality announced well-earned recognition for three Canadian  Motel 6’s at G6 Hospitality’s recent owner’s conference in Nassau, Bahamas.

Motel 6 - Innisfail, Alberta , was presented with the Lightkeeper Service Culture Award.

Motel 6 - Grande Prairie, Alberta , was honoured with the Top Performer Award.

Motel 6 - Airdrie, Alberta , earned the prestigious Motel 6 Franchise of the Year Award – Canada.

“We take great pride in celebrating our franchisees’ dedication to upholding the highest standards of hospitality,” said Irwin Prince, President & COO of Realstar Hospitality, the master franchisor of the Motel 6 and Studio 6 brands in Canada. “The achievements of our owners and their teams are a testament to their commitment to providing outstanding service.”

To learn more about Motel 6 or to book your stay, please visit www.motel6.com

 

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