PARSIPPANY, N.J., July 18, 2017 /PRNewswire/ -- Further cementing its long-standing position as a leader in the midscale hotel segment, Wyndham Hotel Group – the hospitality giant with an unparalleled portfolio of more than 8,000 hotels globally – today announced plans to acquire the Minnesota-based AmericInn® hotel brand and its management company, Three Rivers Hospitality, from Northcott Hospitality for $170 million.
AmericInn's portfolio consists of 200 primarily franchised hotels with approximately 11,600 rooms in 21 states, predominately in the Midwestern U.S., Ohio Valley, and Mountain states including Minnesota, Wisconsin, Iowa, Michigan, and North Dakota. The brand's U.S. pipeline consists of 23 hotels. Committed to its asset-light strategy, Wyndham Hotel Group will explore options to divest the owned portfolio, which consists of 10 hotels.
The deal, subject to regulatory and government approval and the satisfaction of other customary closing conditions, will bolster Wyndham Hotel Group's existing collection of more than 1,500 midscale hotels while also significantly increasing its footprint in the Midwest. Upon closing, Wyndham's family of brands will expand to 20 iconic names.
"AmericInn's unwavering dedication to first-rate quality and service, proven by its consistently high ratings and guest satisfaction scores, grows our North American system in the heartland where we see great opportunity for continued growth," said Geoff Ballotti, Wyndham Hotel Group's president and chief executive officer. "AmericInn's guest-centric culture aligns perfectly with our values, making it a fantastic tuck-in brand for us. And with the global middle class expected to more than double in the next 10 years, we know investing in the midscale segment allows us to offer great experiences and value at price points that travelers need and where they want to be."
"By joining a renowned company with more hotels globally than any other, our AmericInn brand and our owners have the unique opportunity to leverage Wyndham's tremendous distribution and sales and marketing capabilities, taking the brand to the next level," said Paul Kirwin, president and chief executive officer for Northcott Hospitality. "For our guests, this move gives them access to some of the most amazing and attainable travel experiences around the world through Wyndham's unrivaled loyalty program, Wyndham Rewards."
AmericInn is the latest addition to Wyndham Hotel Group's growing portfolio of brands following last month's launch of The Trademark Hotel Collection, a new concept for upper-midscale-and-above independent hotels. Late last year, the company acquired Fen Hotels and its Dazzler Hotels and Esplendor Boutique lifestyle brands, significantly expanding its presence and management business in Latin America.
About Northcott Hospitality Northcott Hospitality, founded by Wyman Nelson over 55 years ago, is a privately-held Minnesota based company that is the owner and developer of a diverse portfolio of hospitality brands. AmericInn® is the largest midscale hotel brand in the upper Midwest with 200 locations in 21 states. The brand is dedicated to providing an exceptional lodging value for its guests by offering spacious, comfortable guest rooms; great rates and amenities such as a free, hot, home style AmericInn Perk breakfast; free hotel-wide wireless high-speed internet and inviting swimming pools. Three Rivers Hospitality® provides hospitality management services to a client portfolio of 21 AmericInn® properties representing over 1,400 rooms. As one of Houlihan's®leading franchisees in the Upper Midwest, Northcott Hospitality owns all three Minnesota restaurants and has been serving the Twin Cities area for over 15 years. Northcott Hospitality is the third largest franchisee of the Perkins Restaurant & Bakery® chain with 22 locations strategically located in the Midwest, Mid-Atlantic and South areas. For more information on Northcott Hospitality or any of its holdings please visit www.northcotthospitality.com.