COLUMBUS, OH—Westmont Hospitality has recapitalized a portfolio of 89 Red Roof properties as a minority stakeholder in the new venture and will continue to operate the portfolio.
“Westmont has such confidence in Red Roof and the potential of the brand. Westmont, understanding the value of the assets and the Red Roof brand, was determined in its desire to maintain their investment in these assets and we are looking forward to continued growth under their umbrella,” said Andrew Alexander, president of Red Roof Inn. “Red Roof is a successful, robust brand with name recognition and an enviable reputation among its franchise owners, and its guests and the brand is also a significant component in Westmont’s business ecosystem.”
All of the 89 properties will remain Red Roof Inn or Red Roof Plus+ properties. The new partnership has also spurred a multimillion-dollar renovation strategy to upgrade the current level of renovations at some of the properties to position them for revenue growth. Property upgrades will include either NextGen or PLUS+ designs which include modern furniture, flat-screen TVs, vessel sinks, wood-like floors, additional electrical outlets, a 100% smoke-free designation, rest suite beds by Serta, high-end bedding and renovated lobbies.