Choice Hotels To Acquire RV Membership Platform Harvest Hosts

(RTTNews) - Choice Hotels International, Inc. (CHH), a lodging franchisor, Wednesday said it has agreed to acquire RV travel membership company Harvest Hosts from Stripes and other shareholders for an enterprise value of approximately $130 million. Harvest Hosts has more than 11,200 host locations, including wineries, farms, breweries, museums and other attractions, and will continue to operate as a standalone business under its existing brand following the acquisition. Choice Hotels said the transaction is complementary to its existing hotel portfolio and consistent with the company's long-term asset-light strategy. The deal will be funded with cash on hand and borrowings under its existing revolving credit facility.