Vantage Hospitality Group Agrees to Acquire America’s Best Franchising’s Hotel Brands
Vantage Hospitality Group, Inc., today announced that it has entered into an agreement to acquire America's Best Franchising, Inc.'s hotel brands – America's Best Inns & Suites®, Country Hearth Inns & Suites®, Jameson Inn®, Jameson Suites®, Signature Inn®, and 3 Palms Hotels & ResortsSM, and ABF's license for the Budgetel® Inns & Suites brand.
Currently the 8th largest hotel company worldwide, Vantage Hospitality welcomes the six core ABF brands and its over 225 hotels to the family, which already includes more than 1,000 Americas Best Value Inn®, Canadas Best Value Inn®, Value Inn Worldwide®, Value Hotel WorldwideSM, Lexington® Inn, Lexington Hotel and Lexington Legacy properties.
"By combining brands under the Vantage umbrella, we will strengthen our synergies and continue to enhance our competitive advantage with a full line of brand segments that address the needs of both hotel owners and consumers. This will offer our members greater distribution, more marketing dollars and enhanced exposure, and additional revenue-generating programs and resources," said Vantage Founder, President & CEO Roger Bloss.
Hotel owners worldwide have embraced Vantage's innovative brand affiliation that offers members low fees, flexible agreements, reasonable brand standards, and A Voice and A VoteSM in each brand's direction while providing the most comprehensive resources in the lodging industry.
"Earlier this year, the ABFI Board of Directors brought me in to evaluate the capacity to grow ABF and bring more value to our franchisees and our shareholders," said America's Best Franchising President & CEO Sterling Stoudenmire. "The ABFI team eagerly embarked on an immediate transformation of the company, its culture, and our products. We have already made substantial progress, but the team is aiming very high…to transform our existing brands into market leaders and create tremendous value for property owners. After numerous discussions with our board, our existing franchisees and industry experts, it became very clear that the best way to realize this vision was to find a strategic partner with the scale, resources and expertise necessary to compete – and win – in this demanding market…and to do so in a manner consistent with our 'owners first' philosophy.
"After getting to know Roger and the Vantage corporate team, I have no doubt that they are the right fit for ABF. Their conviction to educate, not mandate, and their existing resources and programs will allow them to offer new opportunities to our property owners that will help them improve their bottom lines and position them to succeed in the long term."
The transaction was arranged by Brown Nester Hospitality Services (an affiliate of Vantage) and its President, Chuck Nester. The terms of the transaction, which is expected to formally close later this year, are confidential.
"It's exciting to experience a continued evolution of our brands and philosophies," added Bloss. "All of our properties will benefit as we reach the right consumer, with the right brand, at the right price, at the right time – which means more ROI for our hotel owners."
About Vantage Hospitality Group, Inc.
Vantage Hospitality Group, Inc., has been recognized as one of the most progressive hotel companies in the history of the lodging industry. With over 1,200 properties worldwide, Vantage is the only hotel company to be ranked among the Inc. 500/5000 List of America's Fastest-Growing Private Companies for eight consecutive years. Supported by the resources of a franchise and the freedom of a membership organization, hotel owners around the globe have embraced Vantage's philosophy that puts control back in their hands, allowing them to be "In Business for Themselves, Not by Themselves." Vantage Hotels is among the top 10 hotel franchisors based on the number of hotels in its system. Whether a property is a member of Vantage's legacy brands, the award-winning Americas Best Value Inn brand (with its sister brands, Canadas Best Value Inn and Value Inn Worldwide) and the ground-breaking Lexington by Vantage, or of the Jameson Inn, Country Hearth Inn & Suites, or Signature Inn brands, all Vantage Hotels members enjoy the opportunity to maximize their revenue and asset value through Vantage's low fees and reasonable contract terms; flexible, straightforward agreements; A Voice and A Vote® in major brand initiatives; the most comprehensive resources, support and CRS in the industry; sensible PIPs, and a culture that is centered on educating, not mandating. Membership in Vantage brands in the United States is offered (as a franchise) through Vantage Franchising, Inc., and in Canada, through Vantage Franchising (Canada) Inc., wholly-owned subsidiaries of Vantage Hospitality Group, Inc. For more information, visit www.JoinVantageHotels.com.
