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News for the Hospitality Executive |
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Vista Hospitality Acquiring the Select Inn Brand from
Privately
Owned Select Franchising, Inc. of Fargo, North Dakota
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MURFREESBORO, TENN. -NOVEMBER 17, 2008 - VISTA® Hospitality Solutions (http://corporate.vistarez.com) head quartered in Murfreesboro, Tennessee has entered into a definitive agreement to acquire the Select Inn brand from privately owned Select Franchising, Inc. of Fargo, North Dakota. Subject to completion of due diligence, the deal is expected to close by the end of the year. Select Inn franchises are located in:
�Selling Select Inns allows us to concentrate on our core business of hotel management and we think the Select Inn franchisees will be better served by an aggressively growing company like VISTA®� said Select Franchising, Inc. President, Marie Casper. Ms. Casper is also the President of Discover Lodging Management which manages 11 hotels including a Select Inn. �We are excited about Select and look forward to merging the culture of our two brands. The Select franchisees should see rapid results in revenue growth through our focused web marketing and we expect that there will be revenue benefits for both brands through cross selling opportunities� said Kelly Harvel, Executive Vice President of Operations for VISTA® Hospitality Solutions. �We have met with the Select Inn franchisees and are comfortable that we can build on the relationships that the current owners have established with them over many years� he added. For more information on VISTA® Hospitality Solutions and the VISTA® Inns or VISTA® Inn & Suites brand, visit www.vistarez.com About VISTA® Hospitality Solutions
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Ramesh Gokal, CHA
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�Select
Inns are squarely positioned in the economy segment of the lodging industry
and will be an excellent strategic addition for us. Our VISTA® Inns
and VISTA® Inns & Suites offer a mid-tier positioning. Now we will
be able to offer an additional brand with an economy tier market positioning.
Also with Select Inns� dominant regional concentration, this will expand
our horizon for growth� said VISTA® President Ramesh Gokal. �Our Board
has embraced and approved an aggressive growth strategy through acquisitions
in addition to our continued organic growth. We remain financially postured
to seek other similar companies that can complement our culture, operating
philosophy and strategic growth.�