Wyndham Acquires Dolce Hotels & Resorts for $57M, Increasing Its Managed Portfolio by 40%

In a $57 million cash deal, Wyndham Hotel Group has acquired Dolce Hotels and Resorts.

In a move that will allow Wyndham to increase its managed portfolio by around 40 percent, the hotel group purchased Dolce Hotels and Resorts for $57 million cash. The move is designed to increase Wyndham’s footprint in the meeting planning and conference environment.

“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,” said Geoff Ballotti, Wyndham Hotel Group’s president and CEO, in a press release announcing the acquisition. “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.”

The deal comes with Dolce’s 24 properties and more than 5,500 rooms across seven countries. Dolce also benefits from the deal, as this is a strategic way for the company to preserve its brand with a continual focus on meeting spaces.

“When Wyndham Worldwide agreed to just such an approach with Dolce, [the leadership team] concurred that the acquisition would achieve our objectives and provide the best future for all our stakeholders,” said Philip Maritz, Dolce’s chairman. “I am confident of incremental benefits under the Wyndham Hotel Group umbrella and its dynamic plans for the brand and its properties.”

In addition to Dolce’s properties, Wyndham will take ownership of the company’s 750,000 square feet of meeting space, which host 100,000 events and draw in four million meeting clients annually.

[Photo: Dolce Hotels and Resorts]