Corporate Lodging Consultants Inc., the Wichita-based business-lodging provider founded by Barry Downing, has been acquired by FleetCor.
FleetCor is a Georgia-based company that processes and manages commercial fuel cards.
Terms of the sale were not announced.
Corporate Lodging’s operations will remain in Wichita and will be run by most of its existing management and service staff.
President and CEO George Hansen will resign from his duties and president and CEO, and Tim Downs, the former executive vice president, will take over president and CEO duties.
“I have a long history with the company and enjoy the company,” Downs says. “I’m really looking forward to the new partnership and the new challenges with the growth.”
Corporate Lodging serves 10,000 large- and small-business clients across the country. FleetCor serves more than 750,000 businesses with its fleet card programs that spans four continents.
“We are excited about adding (Corporate Lodging) to the FleetCor family of companies,” says Ron Clarke, chairman and CEO of FleetCor. “The CLC team has built a tremendously successful business and market franchise.”
Clark added that Corporate Lodging and FleetCor “essentially share the same business purpose,” of helping businesses travel more efficiently.