Tryp Buy To Broaden Wyndham's European, S. American Presence

Wyndham Hotel Group is acquiring the Tryp hotel brand, a midprice brand with 91 properties across Europe and South America, from Sol Melia Hotels & Resorts, the companies announced this week.

The $43 million deal, expected to close by the end of this month, would give Wyndham development control of the brand and its approximately 13,000 rooms across such gateway cities as Madrid, Lisbon, Barcelona, Paris, Frankfurt, Buenos Aires, Montevideo and Sao Paulo. Wyndham also will market Tryp, which it plans to rename Tryp by Wyndham, through its central reservations system and loyalty programs. Sol Melia, however, will continue to own and operate the existing 91 Tryp hotels.

"The addition of more than 90 high-performing hotels in key international cities enhances and accelerates the recent development momentum of the Wyndham Hotel Group," Wyndham Worldwide chairman and CEO Stephen Holmes said in a statement. "The transaction significantly increases our international platform, enhancing our growth opportunities, especially in Europe and Latin America."

Tryp is Wyndham Hotel Group's 12th brand. Others include Wyndham Hotels & Resorts, Wingate by Wyndham, Ramada and several budget brands, including Days Inn, Howard Johnson, Super 8 and Microtel Inns & Suites.