Alternative Motels Worldwide Completes Acquisition of Radisson Motels Americas
Revealed: Aug. 11, 2022 at 9:46 AM EDT
Unites extremely complementary hospitality companies, including 9 manufacturers and 67,000 rooms in engaging, greater income locations
ROCKVILLE, Md., Aug. 11, 2022 /PRNewswire/ — Alternative Motels Worldwide, Inc. (NYSE: CHH) at the moment introduced that it has accomplished the acquisition of the franchise enterprise, operations and mental property of Radisson Motels Americas for about $675 million from Radisson Lodge Group, inclusive of the true property worth of three owned inns.
Alternative Motels Worldwide, Inc. at the moment introduced that it has accomplished the acquisition of Radisson Motels Americas.
With the shut of this transaction, Alternative Motels Worldwide has added roughly 67,000 rooms, increasing its presence within the greater income higher upscale and upscale full-service segments, and bolstering its core upper-midscale hospitality phase, significantly within the West Coast and Midwest of the US.
Radisson Motels Americas includes the Radisson franchise agreements, operations and mental property in the US, Canada, Latin America and the Caribbean. The transaction provides 9 manufacturers, together with Radisson Blu, Radisson, Radisson People, Park Plaza, Radisson RED, Nation Inn & Suites by Radisson, Park Inn by Radisson, Radisson Inn & Suites and Radisson Assortment. Alternative Motels will independently personal and management the manufacturers within the Americas and appears ahead to working with Radisson Lodge Group to drive the expansion, continuity and success of those international manufacturers. The shut of this transaction is just not anticipated to vary Alternative Motels’ present capital allocation technique associated to dividend cost coverage and deliberate share repurchases.
Credit score Suisse Securities (USA) LLC served as monetary advisor to Alternative Motels Worldwide on the transaction, and Willkie Farr & Gallagher LLP served as authorized advisor. Baker McKenzie served as authorized advisor to Radisson Lodge Group.
About Alternative Motels®
Alternative Motels Worldwide, Inc. (NYSE: CHH) is among the largest lodging franchisors on the planet. On August 11, 2022Alternative acquired Radisson Motels Americas, including 9 manufacturers and roughly 67,000 rooms in the US, Canada, Latin America and the Caribbean to its portfolio. With 22 manufacturers, Alternative Motels has greater than 7,500 inns, and practically 650,000 rooms, in 46 international locations and territories as of August 11, 2022. The Alternative® household of resort manufacturers present enterprise and leisure vacationers with a broad vary of high-quality lodging choices from restricted service to full-service inns within the higher upscale, higher mid-scale, midscale, extended-stay and financial system segments. The award-winning Alternative Privileges® loyalty program gives members a quicker method to rewards, with customized advantages beginning on day one. For extra data, go to www.choicehotels.com.
Sure issues mentioned on this press launch represent “forward-looking statements” inside the which means of the Personal Securities Litigation Reform Act of 1995. Sure, however not essentially all, of such forward-looking statements could be recognized by means of forward-looking terminology, akin to “anticipate,” “estimate,” “imagine,” “anticipate,” “ought to,” “will,” “forecast,” “plan,” “venture,” “assume,” or related phrases of future. All statements apart from historic information are forward-looking statements. These forward-looking statements are based mostly on administration’s present beliefs, assumptions and expectations relating to future occasions, which, in flip, are based mostly on data at the moment out there to administration. Such statements might relate to expectations relating to the long run efficiency of the acquired enterprise and types, cost of dividends, repurchases of frequent inventory and different monetary and operational measures. We warning you to not place undue reliance on any such forward-looking statements. Ahead-looking statements don’t assure future efficiency and contain identified and unknown dangers, uncertainties and different elements. A number of elements might trigger precise outcomes, efficiency or achievements of the corporate to vary materially from these expressed in or contemplated by the forward-looking statements. Such dangers embody, however are usually not restricted to, our potential to combine and notice the anticipated advantages of the acquisition, the timing and quantity of future dividends and share repurchases. These and different threat elements are mentioned intimately within the firm’s filings with the Securities and Change Fee, together with our Annual Report on Type 10-Ok and our most up-to-date Quarterly Report on Type 10-Q. We undertake no obligation to publicly replace or revise any forward-looking assertion, whether or not on account of new data, future occasions or in any other case, besides as required by regulation.
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SOURCE Alternative Motels Worldwide, Inc.
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