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Hotel Industry News |
Saturday November 22nd, 2008 |
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Ramada Franchise Systems Completes Acquisition of Canadian Rights |
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PARSIPPANY, N.J. (Jan. 6, 2002) – Ramada Franchise Systems Inc., a unit of Cendant Corporation (NYSE:CD) that currently operates the Ramada franchise system in the United States, has completed its acquisition of rights to franchise Ramada hotels in Canada. |
The rights were transferred from Ramada Franchise Canada Inc., a wholly owned subsidiary of AFM Hospitality Corp., based in Toronto.
“We welcome Canada’s Ramada hotels into our system,” said Steve Rudnitsky, chairman & chief executive officer of Cendant’s Hotel Group. “We’re bullish on the Ramada brand and enthusiastic about the possibilities presented by our expanded presence in North America.”
AFM Hospitality Corporation (TSX:AFM) has executed franchise and management agreements with more than 140 hotels in North America, representing an inventory of nearly 15,000 hotel rooms. Additional information about AFM Hospitality Corporation may be found on the Internet at www.afmcorp.com.
Cendant Corporation’s Hotel Group, based in Parsippany, N.J., is the world’s largest lodging franchisor with 6,595 open hotels representing 543,990 rooms on five continents under the Super 8®, Days Inn®, Ramada®, Travelodge®, Howard Johnson®, Knights Inn®, Villager, Wingate Inn® and AmeriHost Inn® brands. Cendant’s franchised hotels sell one out of every four economy and midpriced room-nights in the United States, and Cendant franchises 12.5 percent of the entire U.S. hotel room supply, according to Smith Travel Research. All hotels are individually owned and operated under franchise agreements with Cendant subsidiaries.
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Ramada Franchise Systems Inc., a subsidiary of Cendant Corporation (NYSE: CD), is a mid-to upper-mid market chain with properties throughout the United States and Canada. Reservations can be made by calling, toll-free, (800) 2-RAMADA or online at www.ramada.com. |
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