Choice Hotels made public a $7.8 billion offer for Wyndham Hotels & Resorts, saying Wyndham had disengaged in private discussions over a deal to combine two of the largest owners of budget hotels. Choice said it is offering to buy Wyndham for $90.00 a share, including $49.50 a share in cash, while the rest would come from stock. The offer marks a 30% premium over Wyndham’s closing stock price of $69.10 on Monday.