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Wyndham behind last month’s bid for InterContinental
Wyndham has been named as the US based rival reportedly in talks last month to takeover InterContinental Hotels Group.
Sky News, which first broke the story in May, says unnamed sources had indentified Wyndham Worldwide Corporation was the mystery suitor.
It was previously thought Starwood Hotels and Resorts were behind the bid.
The offer by Wyndham was rebuffed and no further talks are ongoing, but may be revisited at a later time, the sources said.
Sky News said in its original report the potential deal was valued at around $10 billion.
Neither company has made a comment.
Is it thought Wyndham was pursuing a possible merger with UK-based IHG in order to qualify for ‘tax inversion’ – so that it could move its tax domicile across the Atlantic and benefit from lower corporate taxes.
Wyndham, owners of the Ramada hotel chain, has a market value of around $9.5 billion and is one of the world’s largest hotel operators.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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