Keyword: CorePoint Lodging
Facing decreases in both net income and revenue for the quarter, Wyndham Hotels & Resorts reported solid earnings and room growth.
2018 saw some major deals totaling $18.3 billion and approximately 51,100 hotel rooms with an average sale price per room of $357,000, according to LWHA.
The industry may be gradually growing desensitized to large-scale portfolio acquisitions, but there still are more deals to be done.
When the deal closes, Wyndham Hotel Group will now command a total of 21 brands, with La Quinta clocking in at its third largest behind Super 8 and Days Inn.
The independent REIT initially will own 316 La Quinta properties, and will have the ability to acquire other hotels under different brand networks.