---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-054126"
form_type: "8-K"
ticker: "WH"
cik: "0001722684"
company_name: "WYNDHAM HOTELS & RESORTS, INC."
filed_at: "2023-11-21T23:59:59+00:00"
generated_at: "2026-06-07T22:45:28.402475+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Wyndham rejects Choice's revised $86/share bid; cites regulatory risk and low reverse termination fee

## Summary
- Choice's revised offer valued at $86/share (down from $90); Wyndham board unanimously rejects it.
- Wyndham cites two-year regulatory limbo risk, low 6% ($435M) reverse termination fee insufficient.
- Wyndham reaffirms standalone growth; points to AAHOA opposition and franchisee uncertainty from Choice.
- No changes to consideration form; Wyndham demands all-cash or better terms to address concerns.

## SEC filing metadata
- accession: 0001140361-23-054126
- form_type: 8-K
- ticker: WH
- cik: 0001722684
- company_name: WYNDHAM HOTELS & RESORTS, INC.
- filed_at: 2023-11-21T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1722684/000114036123054126/0001140361-23-054126-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1722684/000114036123054126/ef20015038_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-054126
- JSON: https://secwatch.observer/filing/0001140361-23-054126.json
- Plain text: https://secwatch.observer/filing/0001140361-23-054126.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.