- Wyndham Hotels & Resorts Inc (NYSE:WH) has acquired the Vienna House brand for €44 million ($44 million).
- The acquisition adds an upscale and midscale portfolio of approximately 40 hotels and more than 6,000 rooms.
- The acquisition of the brand adds 28 hotels in Germany alone, further cementing Wyndham’s foothold in one of its largest European markets.
- Wyndham took over the Vienna House brand from Berlin-based HR Group, a European hotel operator and long-standing franchised partner of Wyndham.
- Upon closing the deal, the Vienna House will be known as Vienna House by Wyndham.
- “Europe continues to present accelerating growth for the travel sector with strong demand steadily bouncing back across leisure and business,” said CEO Geoff Ballotti.
- Wyndham held $400 million in cash and equivalents as of June 30, 2022.
- Price Action: WH shares are trading higher by 0.80% at $66.68 on the last check Thursday.
- Photo Via Company
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