Barcelo Crestline Plans Acquisition of John Q. Hammons Hotels

MCLEAN, VA-Hotel concern Barcelo Crestline Corp. has put an offer on the table to acquire Springfield, MO-based John Q. Hammons Hotels Inc. through the purchase of 100% of the company’s Class A common stock. The locally headquartered company is proposing a cash offering of $13 per share for the Hammons Hotels stock. Additionally, Barcelo Crestline committed to an arrangement with Hammons Hotels’ majority shareholder John Q. Hammons that allows Hammons to trade his 76% interest in John Q. Hammons Hotels Inc. and John Q. Hammons Hotels LP for preferred equity in Barcelo Crestline.

Hammons Hotels is bringing to the table a stable of 14 managed hotels in seven states, and ownership of 46 hotels across the country, most of which carry the flag of Embassy Suites, Holiday Inn or Marriott. If all goes as planned, Barcelo Crestline’s hotel property management arm, Crestline Hotels and Resorts Inc., will be merged with John Q. Hammons’ management division.