You might also like:
Wyndham Hotel Group has announced plans to acquire the Minnesota-based AmericInn hotel brand and its management company, Three Rivers Hospitality, from Northcott Hospitality.
The deal is worth a reported $170 million.
AmericInn’s portfolio consists of 200 primarily franchised hotels with approximately 11,600 rooms in 21 states, predominately in the Midwestern US, Ohio Valley, and Mountain states including Minnesota, Wisconsin, Iowa, Michigan, and North Dakota.
The brand’s US pipeline consists of 23 hotels.
Committed to its asset-light strategy, Wyndham Hotel Group will explore options to divest the owned portfolio, which consists of ten hotels.
The deal, subject to regulatory and government approval and the satisfaction of other customary closing conditions, will bolster Wyndham Hotel Group’s existing collection of more than 1,500 midscale hotels while also significantly increasing its footprint in the Midwest.
Upon closing, Wyndham’s family of brands will expand to 20 names.
“AmericInn’s unwavering dedication to first-rate quality and service, proven by its consistently high ratings and guest satisfaction scores, grows our North American system in the heartland where we see great opportunity for continued growth,” said Geoff Ballotti, Wyndham Hotel Group, president and chief executive officer.
“AmericInn’s guest-centric culture aligns perfectly with our values, making it a fantastic tuck-in brand for us.
“And with the global middle class expected to more than double in the next ten years, we know investing in the midscale segment allows us to offer great experiences and value at price points that travellers need and where they want to be.”
AmericInn is the latest addition to Wyndham Hotel Group’s growing portfolio of brands following last month’s launch of The Trademark Hotel Collection, a new concept for upper-midscale-and-above independent hotels.
Late last year, the company acquired Fen Hotels and its Dazzler Hotels and Esplendor Boutique lifestyle brands, significantly expanding its presence and management business in Latin America.
Sоurсе: breakingtravelnews.com