Wyndham Worldwide Is Buying La Quinta for $1.95 Billion
Photo Credit: A La Quinta Inns and Suites property near Dallas-Fort Worth. The company is being purchased by Wyndham Worldwide for $1.95 billion in cash. La Quinta Inns & Suites
Skift Take
Wyndham CEO Geoff Ballotti wasn't kidding when he told us he had big plans for 2018 at last year's Skift Global Forum.
When we said there'd be more mergers and acquisitions in 2018, we weren't kidding. The first major hotel industry acquisition of the year involves Wyndham Worldwide and La Quinta Holdings.
Wyndham Worldwide, whose businesses include hotels, vacation rentals, and time shares, has announced it plans to buy La Quinta Holdings for $1.95 billion in cash in a deal expected to close by the second quarter. With the addition of La Quinta to the Wyndham Hotel Group, the company will soon have 21 brands and more than 9,000 hotels in 75 countries.
La Quinta, which turns 50 this year, has more than 890 properties with approximately 87,500 rooms located in 48 states in the U.S. and in Canada, as well as in Mexico, Honduras, and Colombia spread out over three brands: La Quinta Inn & Suites, La Quinta Inn, and LQ Hotel. Wyndham Hotel Group's brands include Days Inn, Super 8, Travelodge, and Wyndham Garden, among others.
The deal is expected to close in the second quarter, and would not im
