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Article: Wyndham Hotel Corporation Announces Closing of Clubhouse Hotels Inc. Acquisition.
- Article from:
- Business Wire
- Article date:
- August 5, 1997
CopyrightCOPYRIGHT 1997 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DALLAS--(BUSINESS WIRE)--Aug. 5, 1997--
Company Also Announces Increase In
Revolving Line of Credit to $150 Million
Wyndham Hotel Corporation (NYSE: WYN) announced today that it has completed its acquisition of privately held, Kansas City-based ClubHouse Hotels, Inc. The transaction adds 2,456 rooms, or approximately 10%, to Wyndham's current portfolio of 24,949 rooms open or under construction. In connection with the acquisition, Wyndham has issued 1,599,448 additional shares to the shareholders of ClubHouse, borrowed an additional $55 million under its revolving credit facility and assumed debt of approximately $23.5 ...