Wyndham Cements Foothold In Europe - Buys 'Vienna House' Hotel Brand - Wyndham Hotels & Resorts (NYSE:WH)

Wyndham Hotels & Resorts Inc WH has acquired the Vienna House brand for €44 million ($44 million).
The acquisition adds an upscale and midscale portfolio of approximately 40 hotels and more than 6,000 rooms.
The acquisition of the brand adds 28 hotels in Germany alone, further cementing Wyndham's foothold in one of its largest European markets.
Wyndham took over the Vienna House brand from Berlin-based HR Group, a European hotel operator and long-standing franchised partner of Wyndham.
Upon closing the deal, the Vienna House will be known as Vienna House by Wyndham.
"Europe continues to present accelerating growth for the travel sector with strong demand steadily bouncing back across leisure and business," said CEO Geoff Ballotti.
Wyndham held $400 million in cash and equivalents as of June 30, 2022.
Price Action: WH shares are trading higher by 0.80% at $66.68 on the last check Thursday.
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Wyndham Cements Foothold In Europe - Buys 'Vienna House' Hotel Brand