Wyndham Hotel Group, a subsidiary of Wyndham Worldwide, has acquired Dolce Hotels and Resorts, a leading provider and manager of group accommodations, for $57 million in cash. Dolce has a portfolio of 24 properties and over 5,500 guestrooms across seven countries in Europe and North America.
According to Wyndham, the acquisition is consistent with its core asset-light strategy, and will allow Wyndham Hotel Group to expand its managed portfolio by nearly 40 per cent with a significantly larger presence in the group and meetings segment. 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.
“Dolce is a terrific strategic fit for us,” said Geoff Ballotti, president and CEO, Wyndham Hotel Group. “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. 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.”
Dolce’s portfolio of hotels, resorts, conference centres and day meeting centres offer 750,000 square feet of meeting space and host approximately 100,000 events annually. Its properties include the Ivey Tangerine Leadership Centre in Toronto, ON and Ivey Spencer Leadership Centre in London, ON, as well as hotels, resorts and conference centres in California, Colorado, Connecticut, Georgia, Illinois, Indiana, Michigan, New Jersey, New York, Texas, Germany, Portugal, France, Belgium and Spain.
Dolce’s locations will complement Wyndham Grand meeting destinations in markets such as Chicago, Miami, Berlin, Doha, Hangzhou and Xian, China.