Wyndham Finalizes Deal to Buy La Quinta
Wyndham Worldwide Corp.’s subsidiary, Wyndham Hotels & Resorts, has completed its previously announced acquisition of La Quinta Holdings' hotel franchising and hotel management business. The addition of La Quinta's 900+ franchised hotels with a total of nearly 89,000 rooms builds Wyndham Hotels & Resorts' midscale presence and expands its reach further into the upper-midscale segment of the lodging industry.
Wyndham Hotels & Resorts is a hotel franchising company and is now an independent public company after being spun off from Wyndham Worldwide after the market closed on May 31. Wyndham Hotels & Resorts now operates a portfolio of 20 lodging brands with nearly 9,000 franchised hotels across more than 80 countries and six continents, and is a leading provider of hotel management services.
La Quinta's loyalty program, La Quinta Returns, which includes approximately 15 million enrolled members, will be combined in the coming months with the Wyndham Rewards program, which includes over 56 million enrolled members.
Prior to Wyndham Hotels & Resorts' acquisition of La Quinta's hotel franchising and hotel management business, La Quinta completed its spin-off of CorePoint Lodging Inc., a publicly traded real estate investment trust that owns 316 La Quinta hotels.