Tryp Cayo Coco

Wyndham Hotel Group has acquired Tryp from Sol Meliá Hotels & Resorts.

The midmarket brand, set to be renamed Tryp by Wyndham, represents 13,000 rooms in cities across Europe and Latin America.

Wyndham will enter into a license agreement with the 91 Tryp hotels, that will continue to be owned, operated, managed or licensed by Sol Meliá.

The Tryp brand will be developed globally in a strategic alliance of Wyndham Hotel Group and Sol Meliá. Hotels will be marketed through the companies' central reservations systems and loyalty programmes.

Cities already boasting Tryp hotels include Madrid, Barcelona, Paris, Lisbon, Frankfurt, Buenos Aires, Sao Paulo and Montevideo.

The acquisition price was about $43 million.

Sol Meliá will continue to operate hotels, resorts and vacation clubs under its seven other owned brands.

Stephen Holmes

Said Stephen P. Holmes, chairman and chief executive officer of Wyndham Worldwide: "This acquisition reflects our strategy to invest in our fee-for-service businesses and supplement organic growth with complementary brands.

"The addition of more than 90 high-performing hotels in key international cities enhances and accelerates the recent development momentum of the Wyndham Hotel Group. The transaction significantly increases our international platform, enhancing our growth opportunities, especially in Europe and Latin America."

Tryp by Wyndham joins Wyndham Hotel Group and its 11 other hotel brands featuring almost 7,100 hotels and more than 590,000 rooms spanning 65 countries.

Gabriel Escarrer Jaume, vice chairman and chief executive officer of Sol Meliá, added: "We chose to work with Wyndham Hotel Group because of the company’s reputation as a global brand-builder, which will benefit the future of the Tryp brand.

"We are proud to have nurtured this successful brand for the last 10 years. Now, this alliance will help Tryp become a truly global hotel brand by creating long-term synergies between our companies to boost Tryp Hotels to the next level."