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The Ramada hotels and restaurants were sold for $540 million to New World Development Company and the gaming business which included the Tropicana Las Vegas, Tropicana Atlantic City, and Ramada Express in Laughlin, Nevada, were spun off to a new company called Aztar Corporation. In the original deal for the gaming business, Ramada shareholders ...
Ramada International is the company that owns, operates, and franchises hotels using the Ramada brand name outside of the United States and Canada. Ramada International was formerly owned by Marriott International , a competitor of Cendant , which owned Ramada in the United States and Canada.
The Marriott announcement came only a few weeks after Renaissance Hotel Group N.V., tentatively agreed to be sold to rapidly expanding Doubletree Corp. However, Marriott surpassed Doubletree's $890-million offer. [9] The Marriott acquisition did not include the Stouffer Hotels brand. The Ramada International brand was included in the ...
The company's origins can be traced to the founding of Hospitality Franchise Systems (HFS) in 1990, created as a vehicle to acquire hotel franchises. By 1995, it had acquired the Days Inn, Howard Johnson, Ramada, and Super 8 brands. HFS then expanded into other businesses, and, in 1997, merged with CUC International to form Cendant Corporation.
Marriott International, Inc. was formed in 1993 when Marriott Corporation split into two companies: Marriott International, Inc., which franchises and manages properties, and Host Marriott Corporation (now Host Hotels & Resorts), which owns properties. [4] In 1995, Marriott was the first hotel company to offer online reservations. [23]
Marriott is rolling out the policy globally, though most U.S. hotels currently have this policy in place. Marriott also saw great success in tapping existing employees for first-time manager roles.
The hotel management company, Renaissance Hotel Group N.V. (trading as Renaissance Hotels), which was a subsidiary of New World Hotels (Holdings) [28]: 70 after the 1990 privatization, was also sold by New World Development to Marriott International in April 1997 for US$491 million (approx. HK$3.8 billion).
David Marriott is the grandson of J. Willard Marriott, who founded the company in 1927 with his wife Alice Marriott. It started as a nine-seat A&W root beer stand in Washington, D.C.