"We bought the Baymont brand because of its strategic importance in the growing mid-scale lodging segment," says Steven A. Rudnitsky, Cendant Hotel Group's chairman/CEO. "It presents us with significant opportunities to grow our businesses." The sale price was not disclosed.

Under the terms of the transaction, seller Blackstone will continue to provide reservation support services to Baymont franchisees until CHG has a central reservations service up and running for the brand. Rudnitsky also announced that Keith Pierce will head the operations of Baymont while continuing to serve CHG as a group president, and as president of the Ramada, Wingate Inn and AmeriHost Inn brands.

As reported by GlobeSt.com, Blackstone opted to shed the brand after acquiring it as part of its $3.4 billion buyout of the Dallas-based La Quinta, a deal that closed in January. La Quinta, which has been renamed LQ Management LLC, bought the Milwaukee-based Baymont in early 2004, but in the wake of the company's sale to Blackstone, company officials determined that they wanted to be a single-brand operator.

The acquisition comes as changes are afoot for the Cendant Hotel Group. As reported by GlobeSt.com in March, CHG will become part of a Cendant spin-off company called Wyndham Worldwide, reflecting the company's signature Wyndham brand. Besides those already referenced, the company also operates hotels under the Days Inn, Super 8, Howard Johnson, Travelodge and Knights Inn flags.