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Wyndham Hotels & Resorts (NYSE: WH) (“Wyndham” or the “Company”), today announced that its Board of Directors, following a comprehensive review with its outside financial and legal advisors, has unanimously determined the unsolicited exchange offer (the “Offer”) from Choice Hotels International, Inc. (NYSE: CHH) (“Choice”) to acquire all outstanding shares of Wyndham is NOT in the best interests of Wyndham and its shareholders. The Wyndham Board of Directors unanimously recommends that shareholders NOT tender any of their shares into the Offer.

United statesStephenp holmesArnold porter kaye scholerExchange commissionChoice hotels international incKirkland ellisWyndham hotels resortsDays innDeutsche bank securities incWyndham hotelsBoard unanimously recommends wyndham shareholdersIgnores significant regulatoryBusiness risksMisleads wyndham shareholdersContinued inconsistentBoard believes