White Lodging Planning to Sell Hotels

Posted: Updated:
White Lodging operates dozens of hotels throughout the country. White Lodging operates dozens of hotels throughout the country.
MERRILLVILLE -

Merrillville-based White Lodging Services Inc. is planning to unload nearly half of its hotels. The hospitality company says it will sell 82 of its suburban hotel management contracts to Virginia-based Interstate Hotels and Resorts. Financial details were not disclosed.

White Lodging says the hotels being sold represent less than a quarter of its revenue. The company did not specify which hotels are involved in the transaction.

"This repositioning allows us to better focus on assets consistent with our market and development objectives while partnering with owners looking to grow with us," said Bruce White, founder and chairman of White Lodging. "We will use the net proceeds to continue to reinvest in strategic select and full service assets."

The sale is expected to close by the end of January.

The company says, once the sale is closed and the hotels currently being developed are complete, it will operate more than 100 hotels and 40 restaurants representing 26 brands, such as Marriott International, Hilton Worldwide and Hyatt Global.

  • Perspectives

    • Wojtowicz founded Indianapolis-based Cambridge Capital Management Corp. in 1983.

      Fixed, Long-Term Interest Rates Protects Against Rate Hikes

      A Hoosier small-business owner recently told his banker that, “Interest rates are as low as they ever will be” in the foreseeable future, and he wanted to get a loan with a “friendly” rate. The Fed made that official recently when it indicated  another quarter-percent rate hike will likely occur in December.  Most pundits expect there to be  three more rate hikes in 2019. Small-business owners are under pressure to act if they are considering...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Wesemann Hall at the Valparaiso University Law School (photo courtesy Tony V. Martin/The Times of Northwest Indiana)

      Valpo School of Law Transfer Denied

      A proposal to transfer Valparaiso University's law school to another university has been shot down. The Tennessee Higher Education Commission has denied the transfer to Middle Tennessee State University, which would have led to the creation of a College of Law at the school. 

    • WOWO Names 'Morning News' Host

      The program and news director of WOWO radio in Fort Wayne has been named the new host of the station's morning show. Kayla Blakeslee will lead Fort Wayne's Morning News, succeeding Charly Butcher, who passed away in August. 

    • Mega-Merger Involves Fort Wayne Operation

      A defense industry contractor with a significant presence in Fort Wayne has announced a merger agreement. Florida-based Harris Corp. (NYSE: HRS) and L3 Technologies Inc. (NYSE: LLL) in New York say the combination will create the sixth-largest defense company in the country. In early-2015, Harris completed the $4.75 billion acquisition of Exelis, a long-time manufacturer of military radio technology in Fort Wayne. Shortly after the acquisition, Harris consolidated...

    • High Alpha Spawns Tenth Tech Startup

      The first company has launched from Indianapolis-based High Alpha since the venture studio received a $100 million infusion in July, and the tenth overall. Anvl develops software designed to reduce and prevent maintenance service industry injuries. The company is led by Hoosier tech scene veteran Robin Fleming, who previously served as vice president of technology for Angie's List before its acquisition by New York-based IAC (Nasdaq: IAC). Anvl was born out of a first-of-its-kind...

    • Rolls-Royce in Indy Selected For $100M Contract

      The U.S. Department of Defense has awarded a contract worth up to $100 million to Rolls-Royce Corp. in Indianapolis. The contract is related to Phase I of the Advanced Turbine Technologies for Affordable Mission-Capability program for the U.S. Air Force.