Wyndham International's bank debt dipped to 96 5/8 in a $2 million trade. Dealers say while nothing new has come out on the company, technicals could be what's dragging down the name. Players active in Wyndham could not be ascertained. Dealers say a slowdown in the hotel industry is pushing down levels, but a few say a lingering rumor of an acquisition by Bass Hotels & Resorts should help stabilize levels in the long run. "There are holders with large positions who are looking to reduce their exposure, and no buyers," a trader explained of the falling prices. Wyndham, based in Dallas, Texas, owns and operates 240 hotels. Calls to Rick Smith, cfo, were referred to spokeswoman Darcie Brossart, who could not be reached by press time. Another dealer noted that hotels are taking a hit in the economy. "This is no surprise that it's drifted lower, but nobody is hitting the panic button," he observed. A market player called the latest trade "lowball. I'm not sure why it traded there. It hadn't been moving because so many have the paper," he said. "News of an acquisition is coming out again, and it seems more real. But the market has been so slow [to react]." Last spring the company's debt traded up to 99 1/2 on a buyout rumor involving Bass Hotels & Resorts (LMW, 5/27). Talk of interest in the company pushed up levels. Wyndham has a $1.3 billion deal that breaks down into three tranches. Pricing is LIBOR plus 33/4%. J.P. Morgan is the lead arranger.