The withdrawal of the exchange offer and director candidates indicates a strategic pivot towards reinforcing its standalone business model. This move could be seen as a neutral to slightly positive signal by investors, as it shows the company's confidence in its own long-term strategy. However, the immediate impact on the stock price may be limited as the market absorbs the implications of this decision.

For Wyndham, the withdrawal of Choice Hotels' director candidates may remove a potential boardroom challenge, allowing it to continue its current strategic direction without external pressures from Choice's proposed slate. This development is likely neutral for Wyndham's stock in the short term, as it eliminates the uncertainty regarding the composition of its board but does not directly impact its operational or financial performance.