Choice Hotels Tries Another Time With Wyndham
Photo Credit: Exterior rendering of the Wyndham Garden Inn Wyndham Garden Orlando Universal. Wyndham
Skift Take
Choice Hotels issued a press release urging Wyndham stockholders to tender their shares before the March 8 deadline. We would characterize the press release as of begging WH shareholders to threaten they will pull the plug.
The DJIA fell 405 points while Nasdaq was down 268, the S&P 500 was down 52 points and the 10 year treasury yield was down .08 to 4.14%. Everyone was wondering what caused the market drop. The Fed meets this week and there are still plenty out there thinking they will lower interest rates (we don’t). Lodging stocks were mixed. HST, RLJ and H traded up to new highs again while SVC and CHH traded down to new lows. CHH wound up jumping 5% after the new low. AINC was down -8% and SOND was down -5% on the day.
Choice Hotels issued a press release urging Wyndham stockholders to tender their shares before the March 8 deadline. We would characterize the press release as a combination of begging WH shareholders to threaten they will pull the plug. Either way, our main takeaway from the release, particularly the comment that "Choice intends to either extend
