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The acquisition of Dolce Hotels and Resorts fills out Wyndham’s meetings footprint in Europe and North America.
Wyndham Hotel Group expanded its groups and meetings business with the acquisition of Dolce Hotels and Resorts for $57 million in cash. The acquisition of Dolce Hotels, with 24 properties and more than 5,500 guest rooms in Europe and North America, also boosts Wyndham’s portfolio of managed properties by 40 percent, which highlights Wyndham’s asset-light strategy. With meetings and resorts properties in locales such as Aspen and Napa Valley in the U.S. and international destinations, including Barcelona, Brussels, Munich, Frankfurt, Paris and Provence, Dolce Hotels’ presence rounds out Wyndham’s meetings’ presence in locations such as Chicago, Miami, Berlin, Doha, Hangzhou and Xian, China. Geoff Ballotti, Wyndham Hotel Group CEO, pointed out that Dolce Hotels is known for its conference planning and management expertise. Although smaller in scope, Wyndham’s acquisition of Dolce Hotels is the latest evidence of hotel industry consolidation as it follows InterContinental Hotels Group’s recent $430 million acquisition of Kimpton Hotels. |
