CLEVELAND, July 18, 2014 – 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.
Headquartered in Coral Springs, FL, Vantage Hospitality Group is the 8th largest hotel company worldwide with over 1,000 hotels independently owned and operated, and the only hotel company to be ranked on the 2006, 2007, 2008, 2009, 2010, 2011, 2012 and 2013 Inc. 500/5000 List of America’s Fastest-Growing Private Companies. Vantage Hospitality’s first hotel brand, Americas Best Value Inn, is a leader in the limited-service segment (including Canadas Best Value Inn and Value Inn Worldwide) throughout North America and is the world’s 10th largest hotel chain. Lexington by Vantage (including Lexington Inn, Lexington Hotel and Lexington Legacy) is Vantage’s midscale to upscale brand, with locations worldwide. Members of the Americas Best Value Inn and Lexington brands are eligible for expedited and streamlined SBA loan processing through the SBA’s Franchise Registry Program, information about which may be found at http://www.franchiseregistry.com. Vantage continues to grow through affiliations with Vantage Hotel Management (management and operations covering all brands and independent properties), Vantage Insurance Services (a full-time insurance agency specializing in insurance for the hospitality industry), and Brown Nester Hospitality Services (offering comprehensive hotel brokerage and related services). Visit http://www.JoinABVI.com, www.JoinLexington.com, http://www.VantageHospitality.com, http://www.VantageHotelManagement.com, http://www.VantageInsuranceServices.com or http://www.BrownNester.com for more information. Lexington franchises are offered by Lexington Franchising, Inc., a wholly-owned subsidiary of Vantage Hospitality Group.