Highgate, Cerberus buy CorePoint Lodging for $1.5B

Affiliates of Highgate and Cerberus Capital Management have partnered in an approximately $1.5 billion purchase of CorePoint Lodging Inc., owner of about 160 hotels mainly in the La Quinta family of brands. The deal continues CorePoint’s strategy of selling off hotels, which it has been pursuing since it was spun off by La Quinta Holdings in 2018.