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(Reuters) -U.S. budget hotel operator Wyndham Hotels and Resorts on Tuesday rejected rival Choice Hotels' $7.8 billion cash-and-stock acquisition offer, calling it "underwhelming" and citing regulatory risks around a possible combination. Wyndham's shares jumped as much as 13% to $78.48, but were well below the $90 per share offer price, which was at a 30% premium to the stock's close on Monday. Earlier on Tuesday, Choice Hotels went public with its offer to buy Wyndham after months-long private talks collapsed.
An artist impression of a refurbished King bedroom at the renamed Peninsula Excelsior Singapore, a Wyndham Hotel. (Picture: Wyndham Hotels and Resorts)SINGAPORE (EDGEPROP) - US-based Wyndham Hotels and Resorts will launch a soft opening of its first namesake hotel brand in Singapore next month. The flagship 591-key hotel will be named the Peninsula Excelsior Singapore, a Wyndham Hotel. The hotel is located at 5 Coleman Street in the Civic District.The hotel's official launch is set for early 202