Wyndham Hotel Group, a subsidiary of Wyndham Worldwide, has acquired Dolce Hotels and Resorts, which has a portfolio of 24 properties and over 5,500 guestrooms across seven countries in Europe and North America, for $57 million in cash.
The acquisition is consistent with Wyndham Worldwide’s core asset-light strategy, and allows Wyndham Hotel Group to expand its managed portfolio by nearly 40% with a significantly larger presence in the group and meetings segment.
Dolce’s exceptional brand recognition among global meeting planners enhances Wyndham Hotel Group’s portfolio with significant group and transient cross-selling opportunities across Wyndham’s existing managed and franchised operations. Wyndham Hotel Group plans to maintain and grow the Dolce brand along with its signature service, technology and F&B products as part of its existing portfolio of brands.
Geoff Ballotti, president and CEO, Wyndham Hotel Group, 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.”
Ballotti continued: “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.”
Go to http://www.wyndhamworldwide.com for more.