Choice Hotels (CHH) Declares $0.215 Quarterly Dividend; 1.1% Yield
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December 19, 2017 9:31 AM EST
BofA/Merrill Lynch raised its price target on Choice Hotels (NYSE: CHH) to $82.00 (from $80.00) while maintaining a Buy rating following the company's announcement that it has reached a definitive agreement to acquire the WoodSpring Suites brand and franchise business for $231M in an... More
December 18, 2017 8:06 AM EST
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:
The acquisition of the WoodSpring Suites brand represents an asset light...
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