Wyndham Worldwide has announced an agreement to acquire La Quinta’s hotel franchise and hotel management businesses for $1.95 billion in cash.
La Quinta’s asset-light, fee-for-service business consists of nearly 900 managed and franchised hotels, which will now join Wyndham Hotel Group, which spans 21 brands and over 9,000 hotels across more than 75 countries.
The addition of La Quinta, one of the largest midscale brands in the industry, will build upon Wyndham Hotel Group’s strong midscale presence, expand its reach further into the fast-growing upper-midscale segment.
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Wyndham Worldwide to acquire La Quinta