They were low end hotels before they bought them. Considering they own the whole property it’s not like this is a big deal like it would be for Airbnb (which is already used extensively for that).
It's a pretty big deal if the theoretical rationale for your brand's existence is to offer a chain of budget hotels suitable for lower middle classes travelling on business and with their families, especially if you're tending to charge quite a bit more than the bottom end of the local hotel market.
