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Prior To La Quinta Spin Off, Wyndham Sells Knights Inn Brand

Red Lion is acquiring the economy brand for $27 million in cash.

A Knights Inn hotel. Photo by Wyndham Hotel Group.

SPOKANE, WA–Red Lion is buying one of Wyndham Hotel Group’s six economy hotel brands — the Knights Inn — for $27 million in cash. Wyndham is selling the brand, which originally made its mark with its medieval-like design, ahead of its previously-announced plans to spin off La Quinta Holdings’ 315 assets into a publicly-traded REIT, CorePoint Lodging.

There are more than 350 Knights Inn hotels across North America and a pipeline of an additional approximately 47 hotels. The transaction is expected to close in the second quarter of 2018, subject to customary closing conditions.

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Erika Morphy

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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