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Wyndham Hotel Group Acquires Sol Meliá's Tryp BrandJune 7, 2010 By: David Eisen
Wyndham Hotel Group is broadening its reach with the announced aquisition of the Tryp hotel brand from Sol Meliá Hotels & Resorts for a reported $43 million. In addition, Wyndham will enter into a license agreement with the current 91 Tryp hotels located throughout Europe and South America that will continue to be owned, operated, managed or licensed by Sol Meliá. Wyndham Hotel Group and Sol Meliá will continue to work together to develop the Tryp brand through their central reservations systems and loyalty programs.
Word is the brand will be renamed Tryp by Wyndham. The select-service, midmarket brand represents approximately 13,000 rooms and caters to business and leisure travelers in cities including Madrid, Barcelona, Paris, Lisbon, Frankfurt, Buenos Aires, Sao Paulo and Montevideo.
“This acquisition reflects our strategy to invest in our fee-for-service businesses and supplement organic growth with complementary brands,” said Stephen Holmes, chairman and CEO of Wyndham Worldwide.
The Tryp by Wyndham brand will join Wyndham Hotel Group and its 11 other hotel brands, which encompass nearly 7,100 hotels and 593,300 rooms in 65 countries.