Wyndham Worldwide Expands Properties to Over 9000 with Transfer of La Quinta Real Estate Assets
PARSIPPANY, NJ and IRVING, TX, March 28, 2018 — Wyndham Worldwide Group completed the acquisition of La Quinta Holding Group’s hotel franchise and management business for a $1.95 billion cash transfer. The agreement was closed in the second quarter of 2018, taking the number of Wyndham properties to over 9000.
The Wyndham acquisition will spin-off La Quinta’s real estate assets into a publicly traded investment trust named CorePoint Lodging. La Quinta shareholders will receive $8.40 per share in cash, while Wyndham Worldwide will repay $715 million of La Quinta debts setting aside another $240 million for taxes incurred during the acquisition.
Wyndham Hotel Group’s strong brand presence will expand La Quinta’s exposure to the upper midscale market segment. Wyndham Group will be the preferred partner and accommodation provider of La Quinta guests across the world.
The acquisition makes Wyndham Hotel Group the world’s largest hospitality group, and will now span 21 brands with over 9000 properties in more than 80 countries. The acquisition will also observe the merger of 13 million members of the La Quinta Returns ® loyalty program with Wyndham’s award-winning Rewards ® program used by 53 million subscribers worldwide.
Wyndham Hotels & Resorts Group builds one of its core competencies on its fully managed I.T. infrastructures across all its properties delivering guests a premium technology experience. In 2018, Wyndham Hotels & Resorts shifted the responsibility of I.T. systems from centrally managed corporate I.T. to its individual franchises.
According to Geoff Ballotti, President & CEO of Wyndham Hotel Group, La Quinta will be a flagship brand of the group. The strong La Quinta brand name already carries one of the highest engagement levels in the hospitality industry, and Ballotti emphasizes that Wyndham’s “intense focus on product quality and world-class technology, digital infrastructure, loyalty, and distribution platforms” will significantly benefit the franchise.
Advanced Hospitality Technologies has since catered selective Wyndham Group properties, as their exclusive managed I.T. service provider. Advanced Hospitality, a pioneer of hospitality I.T. management, has provided Wyndham hotels & resorts with:
- Fully managed I.T. infrastructures
- High-Speed Internet Access (HSIA) support & maintenance
- Hotel New Build Technology Contracting & Project Management
- Security Assesment & Risk Compliance
- Risk Compliance Training
- A Dedicated Managed Business Center
- Guest Technology Experience Management
- Onsite & Remote Engineer Support
- Fully Managed Back Office & Front Office Support
Advanced Hospitality Technologies is an industry leader assisting hotels with leading-edge I.T. solutions and tech security frameworks with over 2 decades of experience in the U.S. hospitality industry. Powered by an illustrious portfolio of clients and an experienced team, Advanced Hospitalities is breaking barriers with its majestic new hotel builds & renovations across the USA.
Wyndham Worldwide’s Chairman & CEO, Stephen P. Holmes, established in a statement that
“This transaction builds on Wyndham Worldwide’s proven track record of acquiring companies that are a strong strategic and cultural fit, add highly-regarded brands to our portfolio and offer clear opportunities to drive shareholder value through growth, shared best practices and sharp execution.”
Advanced Hospitality Technologies has streamlined several Wyndham properties, enhancing their guest technology experience and securing their networks with high spec hardware & software. As an industry leader, Advanced Hospitality goes beyond the conventional to proactively keep clients updated with the latest industry best practices, trends, and technologies.