Patrick Pacious travel tips

The budget hotel brouhaha boiled over Tuesday morning as Choice Hotels launched a hostile bid for Wyndham Hotels & Resorts.

Choice Hotels reported a softening in domestic revenue per available room in the second quarter – a trend other hotel companies have also noted in recent weeks. But Choice said some of the weakness was offset by demand for its extended-stay brands in the U.S. and upscale brands overseas.

Choice Hotels International said Wednesday that its global pipeline grew in the first months of the year, particularly for the development of conversion hotels.

Hilton CEO Christopher Nassetta was awarded $56.8 million in pay last year, more than CEOs at rival hotel operators Marriott, Hyatt, Wyndham, Choice, IHG, and Accor, according to recent SEC filings.

Choice Hotels said on Tuesday it had bought enough Wyndham stock to nominate candidates to the board of Wyndham, its takeover target.

Never mind that its $7.8 billion hostile takeover bid for Wyndham Hotels & Resorts was publicly spurned in October or that three other proposals have also been rejected. Suitor Choice Hotels now wants to take a new offer directly to Wyndham shareholders.

Good morning from Skift. It’s Wednesday, November 8. Here’s what you need to know about the business of travel today.

Choice Hotels International said the organic growth of its development pipeline is healthy despite claims it has recently relied on growth by acquisitions instead.

Choice Hotels outlined its new proposal to acquire Wyndham Hotels and Resorts for around $7.8 billion in cash and stock.

On Tuesday, Choice Hotels announced its hostile bid to acquire all the outstanding shares of competitor Wyndham Hotels & Resorts at a price of $90 a share. The cash and stock deal assumes a $7.8 billion valuation for Wyndham. Including assumed debt, the deal value would climb to around $9.8 billion.

The battle of the budget hotel brands is moving to all-out war.

Choice Hotels said on Tuesday it proposed to acquire all the outstanding shares of Wyndham Hotels & Resorts at a price of $90 a share.

Good morning from Skift. It’s Tuesday, November 8. Here’s what you need to know about the business of travel today.

Choice Hotels International saw revenue spike in the fourth quarter of 2022 thanks to its August acquistion of the Radisson Hotel Group Americas for $675 million and its strengthened pricing power for room rates.

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Choice Hotels International released its 2022 Environmental, Social and Governance (ESG) report earlier this week, but emissions from the vast majority of its properties — franchised hotels — are missing. 

Choice Hotels has been defying gravity. While the U.S. economy has been clouded by gloom, the Rockville, Maryland-based hotel operator has enjoyed bookings above pre-pandemic levels. Many travelers are extending their business trips with leisure stays, boosting occupancy.

Good morning from Skift. It’s Wednesday, May 10. Here’s what you need to know about the business of travel today.

Rob Goldstein, CEO and chairman of Las Vegas Sands Corp., was last year’s best-compensated public hotel company CEO, collecting $40 million. The second-most was Patrick Pacious, president and CEO of Choice Hotels International, who earned $27 million in total compensation.

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