Wyndham Worldwide to Pay $1.9B for La Quinta Holdings

Wyndham Worldwide Corp., headquartered in Irving, TX, entered into an agreement to acquire La Quinta Holdings Inc. for $1.95 billion in cash. After the deal closes in Q2 2018, Wyndham will end up with La Quinta’s hotel franchise and hotel management businesses.

Meanwhile, before closing, La Quinta’s owned real estate assets will be spun off into CorePoint Lodging, a publicly-traded real estate investment trust. Keith A. Klein, currently president and CEO of La Quinta, will head up the new REIT.

With the acquisition of La Quinta’s asset-light, fee-for-service business, consisting of nearly 900 managed and franchised hotels, Wyndham’s hotel group will span 21 brands and more than 9,000 hotels in 75 countries.

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