Google teamed up with South Africa’s tourism department Monday to boost travel marketing efforts after a government inquiry concluded in July that Google’s practices impede competition.
26.10.2023 - 21:19 / thepointsguy.com / Stephen Holmes
When you grow up in the South like I did, you learn there's a difference between mad and spittin' mad.
Wyndham Hotels & Resorts leadership appeared to be the latter in response to repeated advances by Choice Hotels for a nearly $8 billion takeover.
Don't try to buy us just because you need to distract from your sub-standard organic growth, Wyndham leaders conveyed about Choice Hotels on a third-quarter investor call Thursday.
"With no organic growth, a less vibrant loyalty program, and virtually no international capabilities in Choice's platform, we are frankly not surprised," Stephen Holmes, chairman of the board of directors at Wyndham, said at the top of the call. "Our business offers a medicine cabinet full of remedies."
The chairman's comments followed an early morning memo Wyndham sent rebuffing what it labeled Choice's unsolicited offer. Choice leadership issued multiple public releases this month defending their proposed $7.8 billion takeover. Wyndham leadership claims they are uninterested in a deal for a variety of reasons, including an uncertain regulatory timeline for approval, Choice undervaluing Wyndham and what it claims is a slower-growing business on Choice's end.
"I used to always say ... that I don't comment on [mergers and acquisitions] rumors because that used to be what always came up. But this one is not a rumor, and it also is not really M&A," Holmes told an investor analyst on the call. "It seems like a desperate grab to try to solve problems that [Choice Hotels] has."
Holmes noted capital markets and Wyndham franchisees don't like the idea of a deal passing the finish line. As of early Thursday afternoon, Wyndham's stock price was up nearly 4% for the month.
However, the Wyndham chairman indicated a prior deal attempt — with Wyndham in the acquirer's chair two decades ago — might be guiding the antipathy for Choice.
"I never talked about it because it's not appropriate, but we negotiated a deal. The capital markets turned on us, and the credit was not available to make an all-cash offer, which is what was desired from the other side," Holmes said. "We disengaged … I've never walked away from a deal before. I've done 40-plus deals, but this one just isn't going to work because the capital markets aren't attractive."
TPG reached out to Choice Hotels for comment but did not hear back in time for publication.
There are several aspects of the potential Wyndham and Choice marriage that make sense. It combines the two key players in the budget and midscale hotel sector, a segment that is beginning to catch the attention of heavy hitters like Marriott International, Hilton, IHG Hotels & Resorts and Hyatt.
A combined juggernaut like Choice-Wyndham could better compete against the
Google teamed up with South Africa’s tourism department Monday to boost travel marketing efforts after a government inquiry concluded in July that Google’s practices impede competition.
Trevor Noah, world-renowned comedian and 2024 Grammy nominee for best comedy album, has taken on a new title: ‘chief tourism comedian for South Africa.’
Brazil and South Africa have signed an agreement to foster collaboration between the two countries in their tourism initiatives.
Breeze Airways' route map is set for a major overhaul.
As revivals of quintessential Old West towns go, that of Deadwoood, South Dakota has been as robust as they get, with the Black Hills star buzzing with activity today. Some of what attracts 2.5 million visitors a year surely comes through the recent popularity of a period TV series, but the important key is that city leaders several decades ago decided to rescue a rich architectural heritage from decline.
Choice Hotels International said the organic growth of its development pipeline is healthy despite claims it has recently relied on growth by acquisitions instead.
The Homestake Slime Plant in Deadwood, South Dakota might not sound like the kind of place nearby which you’d like to lay your head for a few nights. Indeed, back when the gold processing site was erected in 1906 and up until it was decommissioned in the 1970s, it would have been an unwise proposition.
This as-told-to story is based on a conversation with Christina Hazel, a 23-year-old American woman who was born in France and grew up in Tunisia. She shares her experience moving back to the US for college. It's been edited for length and clarity.
On a crispy late-September morning under blue skies, the grassy hills of Custer State Park are surely the last place you’d ever expect to find thousands of fans screaming and hollering for their favorite team, whether members be of the bipedal or four-legged sort. With dozens of cowboys and cowgirls herding some 1,400-1,500 grunting and bellowing bison through the verdant terrain and into corrals, South Dakota’s annual Buffalo Roundup has become a huge and thrilling spectator event.
The roof is raised, albeit temporarily, on a major loyalty partnership between Caesars and Wyndham across the U.S.
South African Tourism Minister Patricia de Lille jas welcomed the introduction of the Saudi Arabia e-visa system, which will make it easier for South Africans to visit the country for tourism purposes. “I am extremely pleased with this development as South Africa also became the first African country to be added to the list. This will certainly bring immense benefits for leisure and Umrah travellers and for our efforts to grow tourism between South Africa and Saudi Arabia,” Minister de Lille said.
Good morning from Skift. It’s Friday, October 27. Here’s what you need to know about the business of travel today.