Wyndham Hotels & Resorts ( WH ) announced that its board of directors, following a review with its outside financial and legal advisors, has unanimously determined the unsolicited exchange offer from Choice Hotels ( CHH ) to acquire all outstanding shares of Wyndham is not in the best interests of Wyndham and its shareholders. The Wyndham board of directors unanimously recommends that shareholders not tender any of their shares into the Offer.