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Wyndham Hotel Group Acquires Dolce Hotels and Resorts


Wyndham Hotel Group, a subsidiary of Wyndham Worldwide (NYSE :WYN) today announced it has acquired Dolce Hotels and Resorts, a leading provider and manager of group accommodations with a portfolio of 24 properties and over 5,500 guestrooms across seven countries in Europe and North America, for $57 million in cash.


This acquisition is consistent with Wyndham Worldwide's core asset-light strategy, and allows Wyndham Hotel Group to expand its managed portfolio by nearly 40% with a significantly larger presence in the group and meetings segment.Dolce's exceptional brand recognition among global meeting planners enhances Wyndham Hotel Group's portfolio with significant group and transient cross-selling opportunities across Wyndham's existing managed and franchised operations. Wyndham Hotel Group plans to maintain and grow the Dolce brand along with its signature service, technology and F&B products as part of its existing portfolio of brands.
source: http://www.hospitalitynet.org/news/154000320/4068880.html