Barceló Will Expand Its Properties after Acquiring JQH Hotels

The number of hotels under Barceló Crestline Corp. management can grow threefold following the purchase of all shares of class A

common stock of John Q. Hammons Hotels for $13 per share, which has a total value of about $84 million.

Barceló Crestline, the parent company of Crestline Hotels & Resorts, is buying the publicly owned part of JQH Hotels, which is 24 percent of the company. Mr. John Q. Hammons owns the other 76 percent and he will participate in the acquiring company by exchanging all of his other equity interest in JQH Hotels for preferred equity in the acquiring company.

If the deal is approved, Hammons will retain his ownership of 14 hotels and his company will be called John Q. Hammons Hotels. The acquiring company will be known as Barceló Hammons Hotels & Resorts, a private company.

By boosting its managed hotel portfolio from 33 to more than 90, Barceló Hammons Hotels & Resorts will be able to better leverage its systems and technology to be more efficient, he said. The company will continue to buy, according to HotelMotel.Com.