Red Lion Hotels Corporation has agreed a deal to acquire the Knights Inn brand from Wyndham Hotel Group.
The deal is worth $27 million in cash, the company said, and the transaction is expected to close in the second quarter of 2018.
Knights Inn has 350 hotels nationwide in the economy segment, with an additional 47 in development.
"The acquisition of Knights Inn enhances RLH Corporation’s position as one of the 10 largest hotel franchisors in the world," said Greg Mount, RLH Corporation president and CEO.
"This acquisition will increase our franchise units by over 30% and we will continue to grow the brand aggressively as we have demonstrated with our other brands."
Knights Inn hotels will be integrated into Red Lion’s Hello Rewards guest loyalty program, Mount said.
