Growing its portfolio in Latin America makes sense.
Wyndham Hotel Group, like its peers have done this year, is scaling up.
Today the company announced it had acquired Fën Hotels, a Buenos Aires-based hotel management company that has 26 hotel management contracts spread out throughout South America and the U.S. under the Esplendor Boutique Hotels and Dazzler Hotels brands.
With this addition, Wyndham now has a total of 18 brands in its hotel portfolio and the company has a combined 188 hotels in 19 countries in Latin America.
Wyndham did not disclose the total cost of the acquisition. As part of the deal, Fën Hotels’ executive and management teams will remain in place, and the company’s office in Argentina will become Wyndham Hotel Group’s new headquarters office for Latin America. Fën Hotels CEO and co-founder Patricio Fuks will remain as chairman of Fën Hotels.
“Wyndham Hotel Group’s strength and significant scale as the company with more hotels globally than any other hotel company — dramatically increases our distribution, immediately enabling us to grow faster not only in Argentina, but also throughout the region ensuring more guests experience what Fën Hotels have to offer,” said Fuks. “As we integrate the companies over the next 18 months, becoming part of the Wyndham family of brands will enable our guests to have access to some of the most aspirational vacation experiences on earth thanks to Wyndham Rewards, Wyndham’s unparalleled loyalty program, which makes redeeming free nights in hotels, condos and homes simple and attainable.”
Wyndham expects to have all of Fën Hotels’ properties added to its Wyndham Rewards loyalty program by the end of 2017.
Fën Hotels’ partner, Emprenurban, a hotel development and consulting company based in Asuncion, Paraguay, will also become a strategic partner for Wyndham in Latin America. Emprenurban, which is led by CEO Ivan Kozicki, who also helped co-found Fën Hotels, is developing two Wyndham Grand hotels in the region later this year and next year.
“Coupling our proven development model and capabilities across Latin America with Wyndham’s global brands and resources will ensure an accelerated and robust joint growth pipeline for Fën and Wyndham,” said Kozicki.
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Photo credit: A suite at the Esplendor Buenos Aires. Wyndham Hotel Group announced it has acquired the hotel's management company, Fen Hotels. Fen Hotels