Business Services Industry
Patriot American to Buy Wyndham Hotel Chain.(Originated from St. Petersburg Times, Fla.)
Knight Ridder/Tribune Business News, April, 1997 by Albright, Mark
Apr. 15--Patriot American Hospitality Inc. agreed to buy Wyndham Hotel Corp. in a $1.1-billion deal that includes a prominent downtown Tampa hotel. But the purchase could unravel the sale of another local hotel.
In Wyndham, Patriot American gets its first hotel management company, brand name and a portfolio of 23 upscale Wyndhams to add to its collection of 54. One of them is the 299-room Wyndham Harbour Island Hotel. Wyndham also manages 74 hotels.
Patriot American, which in February agreed to acquire the 599-room Hyatt Regency Tampa, now stands to own about half the Class A hotel rooms in downtown Tampa. Patriot American has not closed on the purchase from the Hyatt's developer, GTE Inc., and wants to be sure such market dominance is worth...
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