Choice Hotels to Acquire WoodSpring Suites Brand and Franchise Business for $231 Million

Choice Hotels | December 18, 2017

ROCKVILLE, Md., Dec. 18, 2017 -- Choice Hotels International (NYSE: CHH), one of the world's largest hotel companies, today announced that it has reached a definitive agreement to acquire the brand and franchise business of WoodSpring SuitesSM from WoodSpring Hotels Holdings LLC, a portfolio company of Lindsay Goldberg, for approximately $231 million, subject to customary adjustments. The acquisition will add nearly 240 extended-stay hotels in 35 states to the Choice Hotels portfolio, creating an extended-stay portfolio of more than 350 properties with existing brands, MainStay Suites® and Suburban Extended Stay®. Highlights...