COLUMBUS, Ohio--(BUSINESS WIRE)--Recognizing high demand for the Red Roof® brand and the company’s continuing growth trajectory, Westmont Hospitality has recapitalized a portfolio of 89 Red Roof® properties. Westmont will be a minority stakeholder in the new venture and will continue to operate the portfolio.
“Westmont has such confidence in Red Roof and the potential of the brand. Westmont, understanding the value of the assets and the Red Roof Brand, was determined in its desire to maintain their investment in these assets and we are looking forward to continued growth under their umbrella,” said Andrew Alexander, President of Red Roof Inn.
Alexander says all of the 89 properties will remain Red Roof Inn® or Red Roof Plus+® properties. The new partnership has also developed a multi-million dollar renovation strategy to upgrade the current level of renovations at some of the properties to better position them for strong revenue growth. Property upgrades will include either NextGen® or PLUS+® designs which include modern furniture, flat screen TVs, vessel sinks, wood-like floors, additional electrical outlets, a 100% smoke-free designation, rest suite beds by Serta®, high-end bedding and renovated lobbies.
The Westmont purchase signifies how integral the economy lodging sector has become in the investment community especially as competition for upscale and luxury properties heats up. “Red Roof is a successful, robust brand with name recognition and an enviable reputation among its franchise owners and its guests and the brand is also a significant component in Westmont’s business ecosystem,” notes Alexander.
For more information and to book at Red Roof®, please visit redroof.com or call 800.RED.ROOF (800.733.7663).
About Red Roof®
Red Roof® is a leader in the economy lodging industry with franchised, corporate-managed, and corporate-owned properties, serving millions of guests each year. With coast-to-coast locations, Red Roof® has over 400 properties in the U.S. The primary goal at Red Roof is to provide customers a savings without sacrificing comfort. The brand recently completed a $200 million investment to renovate and upgrade hotels nationwide with sleek and modern NextGen® redesign elements. These hotels feature updated, stylish and home-like interior and exterior designs that demonstrate the Red Roof dedication to providing customers with an affordable stay in a clean, comfortable and modern room. The company is rolling out Red Roof PLUS+®, an enhanced offering at a value price, committed to “Adding More Wow to Your Stay!®”. Nice Place. Nice Price® is what every consumer can expect when they stay at any Red Roof location; and because the company has a single brand in their portfolio, Red Roof also offers franchisees One Brand. One Focus™. The Red Roof loyalty program, RediCard®, is the richest in the industry rewarding members with free nights with only 6,000 points, advance notice of special offers, and complimentary bottled water each day of their stay. Traveling with your pet? Don’t forget that at Red Roof ‘you stay happy, pets stay free’ as one well-behaved pet is welcome per room, nationwide. The Columbus, Ohio based company has more than 4,500 employees. For more information or reservations, call 800.RED.ROOF (800.733.7663) or visit www.redroof.com.