An affiliate of Blackstone Group, a New York-based private investment firm, announced today that it has agreed to acquire Wyndham International, Inc. for $3.2 billion. As reported by an Ohio news source, Blackstone Group will pay $1.15 per share in cash for each share of Wyndham's common stock. Wyndham International, Inc. owns, leases, manages and franchises hotels and resorts through more than 20 hotel brands, including its own Wyndham Hotels & Resorts and Wyndham Garden Hotels, as well as Doubletree, Hilton, Holiday Inn, Hyatt, and Marriott.
Posted by franchiselawblog at June 17, 2005 08:58 AM