On February 22, 2024, Stephen P. Holmes, the Chairman of Wyndham Hotels & Resorts, Inc., announced that earlier this week, Pat Pacious once again claimed in comments on Choice Hotel?s Fourth Quarter earnings call that Wyndham?s Board has refused to engage on Choice?s proposed offer. Stephen P. Holmes stated that nothing is further from the truth and expressed that the company has engaged and has not rolled over. Stephen P. Holmes expressed that both as the Company shareholder and as the Company?s Chairman, he is out of patience with this constant, false, and misleading refrain.

Stephen P. Holmes stated that the truth is: the Company Board connected with Choice and its advisors over 25 times since April 2023 including on some occasions at their initiative. The Company consistently, explicitly, and repeatedly explained the core issues Choice would need to address to make its proposed offer attractive, reasonably certain, and feasible for Wyndham and its shareholders. Despite the extensive and genuine engagement, Choice has addressed none of these issues.

Instead, it has adopted this completely misleading tactic to divert attention away from its own unwillingness to address the realities.