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Choice Hotels International is the parent company of a number of hotel brands split among various market segments, in addition to a vacation rentals brand. As of the third quarter 2023, Choice Hotels franchised nearly 7,500 hotels, representing nearly 630,000 rooms, in 46 countries and territories.
Choice, based in Rockville, Maryland, is offering $49.50 in cash and 0.324 shares of Choice common stock for each Wyndham share they own, a 20% premium to Wyndham's last closing price.
Joyce has headed Choice Hotels, which franchises 6,000 hotels, since 2008. He was at Marriott ( MAR ) for 25 years before joining Silver Spring, Md.-based Choice Hotels.
Quality Inn was founded in 1939 as Quality Courts United, which was the first hotel chain in the United States. By 1946, the association grew to 50 hotels and to 100 hotels by 1952. [ 3 ] The group was among the first in the industry to offer wall-to-wall carpeting, daily linen changes, 24-hour desk service, and in-room telephones.
Choice Hotels began a transformation of its Comfort properties in 2012, [1] with the company exiting 600 properties that did not meet the company's new standards. [2] Choice Hotels rebranded Comfort in 2018, which brought its Comfort Inn, Comfort Inn & Suites, and Comfort Suites brands under one umbrella. [2]
The buyout battle between Choice Hotels and rival Wyndham reaches new heights.
Stewart W. Bainum Jr. (born March 25, 1946) is an American businessman and politician. Bainum is chairman of Choice Hotels International, Inc. Since the 1980s, Bainum has led businesses including four current or former publicly listed companies: Choice Hotels; HCR Manor Care, which operates nursing and assisted living facilities; Vitalink Pharmacy Services; and Sunburst Hospitality.