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Bass reported to be eyeing $4bn Wyndham estate
Consolidation in the hotel sector may be set to continue following press speculation citing the US Wyndham International hotel group as Bass' next target. Bass, still cash-rich after the £2.3bn sale of the brewing arm to Interbrew last year, is reported to be eyeing the Wyndham portfolio following its £810m acquisition of the Posthouse business in the Compass sale last month. With the interim profits to be announced later this week, the speculation suggests that Bass' new chief executive, Tim Clarke, is planning a $4bn (£2.8bn) offer for the Wyndham group, owner of 176 hotels with 45,500-beds worldwide. A spokesperson from Bass gave a firm 'no comment' on the rumours, and the company will publish its interim profits on Thursday. Meanwhile, Bass is to expand its Inter-Continental brand in Asia with the acquisition of The Regent Hong Kong hotel, from the New World Development Company for £241m in cash. Bass will manage the property from 1 June 2001.
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