Wyndham Worldwide Corporation announced today that it will acquire La Quinta Holdings Inc.’s hotel management business in a $1.95 billion cash deal. The acquisition will be completed in the second quarter of this year. With the acquisition of La Quinta’s 900 managed and franchised hotels, Wyndham Hotel Group will span 21 brands and over 9,000 hotels across more than 75 countries.
Wyndham has significantly expanded its holdings in the midscale market in recent years. Just in 2017 they acquired AmericInn hotels and added 46 new hotels across the US into the Wyndham family toward the end of 2017.
The La Quinta Returns® loyalty program, with its 13 million enrolled members, will be combined with the award-winning Wyndham Rewards® program, with its 53 million enrolled members.
The transaction, which has been approved by the boards of directors of both companies, is expected to close upon the completion of the planned spin-off of La Quinta’s owned real estate assets into the separate entity.