PARSIPPANY, N.J., July 18, 2017 /PRNewswire/ -- Further
cementing its long-standing position as a leader in the midscale
hotel segment, Wyndham Hotel Group – the hospitality giant with an
unparalleled portfolio of more than 8,000 hotels globally – today
announced plans to acquire the Minnesota-based AmericInn® hotel brand and its
management company, Three Rivers Hospitality, from Northcott
Hospitality for $170 million.
AmericInn's portfolio consists of 200 primarily franchised
hotels with approximately 11,600 rooms in 21 states,
predominately in the Midwestern U.S., Ohio Valley, and Mountain
states including Minnesota,
Wisconsin, Iowa, Michigan, and North
Dakota. The brand's U.S. 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 10
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 iconic 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's 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 10 years, we know
investing in the midscale segment allows us to offer great
experiences and value at price points that travelers need and where
they want to be."
"By joining a renowned company with more hotels globally than
any other, our AmericInn brand and our owners have the unique
opportunity to leverage Wyndham's tremendous distribution and sales
and marketing capabilities, taking the brand to the next level,"
said Paul Kirwin, president and
chief executive officer for Northcott Hospitality. "For our guests,
this move gives them access to some of the most amazing and
attainable travel experiences around the world through Wyndham's
unrivaled loyalty program, Wyndham Rewards."
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.
About Wyndham Hotel Group
Wyndham Hotel Group, hotel
giant with an unmatched global presence, is one of three
hospitality business units of Wyndham Worldwide (NYSE: WYN).
Driving the democratization of travel, Wyndham Hotel Group is
elevating the experience of the everyday traveler, changing the
game so every traveler – no matter how much they spend or how they
like to travel – has an extraordinary experience. As both a leading
hotel brand franchisor and hotel management services provider, the
company's global portfolio consists of more than 8,000 hotels
and over 699,700 rooms in 79 countries under the following
brands: Dolce Hotels and Resorts®, Wyndham
Grand®, Dazzler® Hotels,
Esplendor® Boutique Hotels, Wyndham Hotels and
Resorts®, Wyndham Garden® Hotels, TRYP by
Wyndham®, The Trademark Hotel Collection, Wingate by
Wyndham®, Hawthorn Suites by Wyndham®,
Microtel Inn & Suites by Wyndham®,
Ramada®, Baymont Inn & Suites®, Days
Inn®, Super 8®, Howard Johnson®,
Travelodge®, The Trademark Hotel Collection®, and
Knights Inn®. Wyndham Rewards, ranked number one hotel
rewards program for 2016-2017 by U.S. News & World Report,
offers more than 50 million members the opportunity to earn
and redeem points at more than 25,000 hotels, condos and homes
globally. For more information, visit www.wyndhamworldwide.com.
About Northcott Hospitality
Northcott Hospitality,
founded by Wyman Nelson over 55
years ago, is a privately-held Minnesota based company that is the owner and
developer of a diverse portfolio of hospitality brands.
AmericInn® is the largest midscale hotel brand in
the upper Midwest with 200 locations in 21 states. The brand is
dedicated to providing an exceptional lodging value for its guests
by offering spacious, comfortable guest rooms; great rates and
amenities such as a free, hot, home style AmericInn Perk breakfast;
free hotel-wide wireless high-speed internet and inviting swimming
pools. Three Rivers Hospitality® provides
hospitality management services to a client portfolio of 21
AmericInn® properties representing over 1,400
rooms. As one of
Houlihan's® leading
franchisees in the Upper Midwest, Northcott Hospitality owns all
three Minnesota restaurants and
has been serving the Twin Cities
area for over 15 years. Northcott Hospitality is the third
largest franchisee of the Perkins Restaurant &
Bakery® chain with 22 locations strategically
located in the Midwest, Mid-Atlantic and South areas. For more
information on Northcott Hospitality or any of its holdings please
visit www.northcotthospitality.com.
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SOURCE Wyndham Hotel Group