GE to Sell its U.S. Hotel Franchise Loan Portfolio for $1.4 billion to Western Alliance

GE | March 30, 2016

FAIRFIELD, Conn. - March 30, 2016 - GE (NYSE:GE) has reached an agreement to sell GE Capital's Franchise Finance U.S. hotel business to Western Alliance Bank, a wholly owned subsidiary of Western Alliance Bancorporation (NYSE: WAL). The sale includes approximately $1.4 billion in ending net investment (ENI) and the majority of the hotel business employees. The business provides real estate financing to owners of limited service hotel properties. Separately, GE also reached an agreement to sell its Canadian Franchise Finance business, including most employees, to a different buyer, representing about $0.3 billion in ENI. The business pro...