---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-263184"
form_type: "8-K"
ticker: "CHH"
cik: "0001046311"
company_name: "CHOICE HOTELS INTERNATIONAL INC /DE"
filed_at: "2023-10-25T23:59:59+00:00"
generated_at: "2026-06-09T09:43:33.692874+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Choice Hotels publicly urges Wyndham to negotiate on $90/share acquisition proposal

## Summary
- Choice calls on Wyndham board to engage in good faith discussions on $90 per share cash-and-stock offer (14.9x consensus 2023 EBITDA).
- Choices cites $150M synergy opportunity, expects >$2B in shareholder value creation from synergies.
- Pro forma combined company expected to generate ~$1B free cash flow in 2024, enabling rapid deleveraging.
- Choice management notes historical stock performance three times Wyndham's since its 2018 spin-off.
- Transaction deemed pro-competitive; franchisees expected to benefit from lower costs and enhanced rewards program.

## SEC filing metadata
- accession: 0001193125-23-263184
- form_type: 8-K
- ticker: CHH
- cik: 0001046311
- company_name: CHOICE HOTELS INTERNATIONAL INC /DE
- filed_at: 2023-10-25T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1046311/000119312523263184/0001193125-23-263184-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1046311/000119312523263184/d566904d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-263184
- JSON: https://secwatch.observer/filing/0001193125-23-263184.json
- Plain text: https://secwatch.observer/filing/0001193125-23-263184.txt

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