CorePoint TRS L.L.C.
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CorePoint TRS L.L.C. - overview
Established
2018
Location
Irving, TX, US
Primary Industry
Travel & Leisure
About
Based in Texas, US, and founded in 2018, CorePoint TRS L. L. C. also known as CorePoint Lodging, operates as a hospitality services company that manages various assets in the hospitality sector.
In March 2022, Highgate Hotels, L. P. , a Trilantic North America portfolio firm, and Cerberus Capital Management acquired CorePoint TRS L. L.
C. for USD 1. 5 billion at USD 15. 65 per share in a public-to-private deal.
As of 2022, Keith Cline acts as the President and CEO at CorePoint Lodging. CorePoint Lodging offers hospitality services by partnering with mid-tier, select-service hotels, and through its La Quinta brand. CorePoint Lodging has a wide portfolio of hotels in many tourists locations, especially in or near employment centers, airports, and key transportation corridors. For the third quarter of 2021, the company generated total income and net income of USD 142 million and USD 17 million respectively, company had a total cash equivalent of USD 174 million, excluding lender and other escrows of approximately USD 45 million.
During this quarter company sold 15 non-core hotels for approximately USD 96 million. The company plans to use the February 2022 funding to continue its strategy of maximizing value and shows an opportunity to deliver immediate and certain cash value to its stockholders.
Current Investors
Highgate Hotels, L.P.
Primary Industry
Travel & Leisure
Sub Industries
Hospitality Services, Hotels & Accommodations, Private Equity, Commercial Property
Website
www.corepoint.com
Company Stage
Add-on
Total Amount Raised
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CorePoint TRS L.L.C. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on | Completed | CorePoint TRS L.L.C. | - |
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