Wyndham Hotel Group today (June 8) announced it was acquiring the Tryp hotel brand from the Sol Melia group for $43m.
The properties in Europe and South America will be re-named Tryp by Wyndham but Sol Melia will continue to own and manage the properties.
The two chains will form a strategic alliance to develop the mid-market brand globally.
The 91 hotels have 13,000 rooms and cater for both the business and leisure market.
Among the locations are Madrid, Barcelona, Paris, Lisbon, Frankfurt, Buenos Aires, Sao Paulo and Montevideo.
The deal, paid for in cash by Wyndham, is expected to be completed by the end of the second quarter.
Tryp by Wyndham will join Wyndham’s 11 other hotel brands, which have nearly 7,100 hotels and 593,300 rooms in 65 countries.
Sol Melia will continue to run its seven other brands.
Stephen Holmes, Wyndham Worldwide chairman and CEO, said: “This acquisition reflects our strategy to invest in our fee-for-service businesses and supplement organic growth with complementary brands.
“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.
“The transaction significantly increases our international platform, enhancing our growth opportunities, especially in Europe and Latin America.”
Gabriel Escarrer Jaume, Sol Meliá’s vice chairman and ceo, said: “We selected to work with Wyndham Hotel Group because of the company’s reputation as a global brand-builder, which will benefit the future of the Tryp brand.”