Cendant Hotel Group said it has completed the previously announced acquisition of the Baymont Inn & Suites brand and system of 115 franchised properties.
The acquisition from affiliates of The Blackstone Group, a private investment firm based in New York, includes worldwide rights to the Baymont Inn & Suites brand but no real estate.
“We bought Baymont Inn & Suites because of its strategic importance in the growing midscale lodging segment and the significant opportunities it presents to grow our businesses,” said Steven A. Rudnitsky, Cendant Hotel Group chairman and chief executive officer.
Under terms of the transaction, Blackstone will continue to provide certain reservations support services to Baymont franchisees on a temporary basis until Cendant Hotel Group initiates central reservations services for the brand. Current members of the frequent traveler program serving Baymont will be enrolled in Cendant Hotel Group’s TripRewards loyalty program.
Anthony Berger, Cendant Hotel Group chief operating officer, announced that the Baymont brand will be led by Keith Pierce, a 24-year hospitality industry veteran who will continue to serve the company as a group president and president of its Ramada, Wingate Inn and AmeriHost Inn brands. Pierce, who joined Cendant in 1990, is a graduate of Florida International University’s School of Hotel Administration, Miami.
“Keith brings to this responsibility more than two decades of on-property and corporate experience in brand marketing, brand operations and brand management,” Berger said.
“Most recently, he led the development of our award-winning Wingate Inn brand and repositioning of our Ramada brand.”