PARSIPPANY, N.J., Nov. 28 /PRNewswire/ -- Coldwell Banker Commercial(R),
an industry leader in providing commercial real estate solutions, announced
today that the newly formed Coldwell Banker Commercial Hospitality Group will
provide commercial real estate services for property acquisitions and property
dispositions to Cendant-affiliated franchisees.
The Coldwell Banker Commercial Hospitality Group enables Cendant hotel
franchisees to benefit from the knowledge and experience of an elite team of
hospitality brokers associated with several independently owned and operated
franchise offices which make up part of the 400+ Coldwell Banker Commercial
offices throughout the United States.
The creation of the Hospitality Group is a result of Coldwell Banker
Commercial's remarkable growth. From 1998 to 1999, the company doubled the
number of transactions handled. In 2000, Coldwell Banker Commercial expects
the number of transactions handled to increase by 60 percent. Coldwell
Banker Commercial's extensive market coverage enhances the synergies of
Cendant and provides a connection between its Real Estate and Hospitality
divisions, said Jerry D. Anderson. The end result is increased value-added
services to our hotel group and real estate franchisees.
Eric Pfeffer, Cendant Hotel Division chairman & chief executive officer,
said development of the Coldwell Banker Commercial Hospitality Group will
help us provide the most comprehensive, individualized service to our
franchisees.
The Hospitality Group enables Cendant's hotel brands to benefit from the
market coverage of the more than 400 Coldwell Banker Commercial affiliates
that are expected to handle about $6 billion in commercial real estate
business in 2000. Cendant is the world's largest lodging franchiser with more
than 6,400 hotels on five continents, operated by approximately 5,000
franchisees. Cendant's franchised domestic hotels serve more than 90 million
customers who book more than 110 million room nights annually. One in six
hotel guests, or more than 16 percent of the U.S. market, stay in
Cendant-franchised hotels.
Coldwell Banker Commercial affiliates, with more than 400 offices
worldwide, serve the needs of a diverse mix of tenants, landlords, sellers and
buyers in the leasing, acquisition, disposition, and management of all
commercial real estate property types.
Coldwell Banker Real Estate Corporation (COLDWELL BANKER) has more than
3,000 independently owned and operated real estate offices, with more than
70,000 sales associates throughout North America, Europe, the Middle East, the
Caribbean, China, Singapore, and Central America. For more than 90 years,
Coldwell Banker has been the country's premier full-service provider of real
estate services. For further information, visit the company's Web site at
http://www.coldwellbankercommercial.com, or contact its Parsippany
headquarters at 800-222-2162.
SOURCE Coldwell Banker Commercial
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