Wyndham Hotel Group has purchased Dolce Hotels and Resorts, which has a strong presence in the meetings, incentives, conferences, and exhibitions (MICE) segment, for US $57 million.
The cash purchase adds 24 properties across Europe and North America, with more than 5500 rooms, to Wyndham’s portfolio. The company plans to maintain and grow the brand.
According to the operator, the acquisition expands its managed portfolio by 40% and gives it a brand with strong recognition among global meeting planners. It has also identified “significant group and transient cross-selling opportunities”.
Wyndham Hotel Group president and CEO Geoff Ballotti said: “Dolce is a terrific strategic fit for us. With over three decades of established brand equity, Dolce is a respected leader in the group space with outstanding destination properties and some of the best meeting product offerings available in the market today.
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“In addition, Dolce has a long, successful history of award-winning innovation in conference planning and management. We look forward to continuing the growth of the Dolce brand and leveraging these Dolce attributes across the Wyndham global system while enhancing the Dolce owner and guest experience.”
Morgan Stanley & Co. LLC acted as the exclusive financial adviser to the seller in connection with the deal.
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