Vantage Hospitality Group Inc., today announced that it has entered into an agreement to acquire America’s Best Franchising (ABF) Inc.’s hotel brands–America’s Best Inns & Suites, Country Hearth Inns & Suites, Jameson Inn, Jameson Suites, Signature Inn, and 3 Palms Hotels & Resorts, 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 Worldwide, Lexington Inn, Lexington Hotel, and Lexington Legacy properties,” the company stated.
“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,” said Vantage Founder, President, and CEO Roger Bloss. “This will offer our members greater distribution, more marketing dollars and enhanced exposure, and additional revenue-generating programs and resources.”
“Earlier this year, the ABF board of directors brought me in to evaluate the capacity to grow ABF and bring more value to our franchisees and our shareholders,” said ABF President & CEO Sterling Stoudenmire. “The ABF 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.