Highgate and Cerberus completed the acquisition of CorePoint Lodging for $1.5bn.

Highgate, an investment manager, and Cerberus, a private equity firm, completed the acquisition of CorePoint Lodging, a pure play select-service hotel owner, for $1.5bn. “Highgate has tremendous respect for CorePoint and its highly experienced team, having observed the Company strengthen, refine and cultivate a leading portfolio of select service hotels. We are thrilled to partner with our friends at Cerberus on another exciting transaction, through which Highgate will continue to enhance its capabilities in the select service space. We look forward to collaborating with the many associates and stakeholders involved towards a successful closing, and to working closely with the Wyndham Hotels team as we embark on the next chapter for this portfolio,” Mahmood Khimji, Highgate Co-Chairman.