Skift Take
Wyndham executives said a Choice Hotels offer to buy it has sandbagged them with work in rebuffing the offer and addressing regulators' concerns. The bill so far is $75 million.
Ever since Wyndham said 'No' to Choice Hotels' offer last year to buy it, executives have been sandbagged by work related to preventing the hostile merger.
Wyndham said Thursday it has spent $75 million related to the deal so far. Costs include negotiating with and then rebuffing Choice Hotels, answering antitrust queries from the U.S. Federal Trade Commission ($15 million alone), and answering queries from four U.S. state attorney generals.
"It's a tremendous effort," said Geoff Ballotti, president and CEO. "Our record fourth quarter could've been better both domestically and internationally without the noise."
Executives described the regulatory review as a "distraction." They called out