RLH Corporation closed its acquisition of the Knights Inn brand from Wyndham Hotel Group, a subsidiary of Wyndham Worldwide on May 14.
As a result of the acquisition, the company acquired approximately 350 economy segment franchise contracts across North America and a pipeline of additional contracts. The acquisition is another step in RLH Corporation’s transformation into an asset-light franchised hotel company. The company expects the transaction will be immediately accretive to the company’s earnings and cash flow.
“We are enthusiastic to have closed the acquisition of Knights Inn,” commented Greg Mount, president and CEO. “Our team is working closely with all Knights Inn hotels to ensure a smooth integration into our systems. We will continue to focus on accelerating the growth of the Knights Inn brand along with all RLH Corporation brands. We are committed to delivering additional value and opportunities to all of our hoteliers and associates, as well as earnings accretion to our shareholders.”
Source: Red Lion Hotels Corporation
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