AHN:
Popular Franchiser Wyndham Worldwide Corp. is set to purchase the Microtel and Hawthorn Suites chain from U.S. Franchise Systems Inc., a unit of Global Hyatt Corp.
In a statement, Wyndham said it will shell out $150 million for Microtel and Hawthorn, and that the deal may be completed within the next 60 days.
The company added that purchasing the 91-hotel Hawthorn Suites chain will give Wyndham a stronger presence in the all-suites, extended-stay market. Microtel Inns & Suites, on the other hand, has 292 economy hotels and 38 more properties under construction.
Wyndham owns franchises for the Ramada and Super 8 brands.
Logo from Microtel.
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