VISTA® Hospitality Solutions (http://corporate.vistarez.com) head quartered in Murfreesboro, Tennessee has entered into a definitive agreement to acquire the Select Inn brand from privately owned Select Franchising, Inc. of Fargo, North Dakota. Subject to completion of due diligence, the deal is expected to close by the end of the year.
“Select Inns are squarely positioned in the economy segment of the lodging industry and will be an excellent strategic addition for us. Our VISTA® Inns and VISTA® Inns & Suites offer a mid-tier positioning. Now we will be able to offer an additional brand with an economy tier market positioning.
Also with Select Inns’ dominant regional concentration, this will expand our horizon for growth†said VISTA® President Ramesh Gokal. “Our Board has embraced and approved an aggressive growth strategy through acquisitions in addition to our continued organic growth. We remain financially postured to seek other similar companies that can complement our culture, operating philosophy and strategic growth.â€
“Selling Select Inns allows us to concentrate on our core business of hotel management and we think the Select Inn franchisees will be better served by an aggressively growing company like VISTA®†said Select Franchising, Inc. President, Marie Casper. Ms. Casper is also the President of Discover Lodging Management which manages 11 hotels including a Select Inn.