Choice Hotels agrees $130 million purchase of RV membership platform
Choice Hotels ($CHH) has agreed to buy all of Harvest Hosts in an all-cash transaction valuing the business at approximately $130 million. The RV travel membership platform connects customers with more than 11,200 host locations. Choice will finance the purchase using cash and its existing revolving credit facility, buying from growth investor Stripes and other shareholders. The deal extends Choice’s asset-light lodging strategy into outdoor travel and creates opportunities to connect its loyalt
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