White Lodging Completes Suburban Hotel Exit
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
Merrillville-based White Lodging Services Inc. says it has closed on its remaining five suburban hotels, completing a previously-announced exit from the suburban hotel market. The hospitality company says the shift will allow it to focus its portfolio on “more complex hotels” in concentrated urban destinations.
In March, the company detailed its plan to move away from suburban hotels by closing on the sale of 25 management contracts.
White Lodging says it is now looking forward with more than $750 million in planned new hotels in San Antonio, Austin and Nashville.
“White Lodging’s vision and focus are clearer than ever,” Chief Executive Officer Jean-Luc Barone said in written remarks. “In addition to business clarity, our focused portfolio is tailored to support clearer career paths for associates with multiple hotels in concentrated urban markets – most just blocks away from each other.”
White Lodging says its remaining portfolio includes more than 50 premium hotels, 40 restaurants and 10 rooftop bars. Last year, the company opened four new urban hotels and nine restaurants.
The company’s core markets include Indianapolis, Austin, Louisville, Chicago, Denver, San Antonio, Nashville and Charlotte.