Cendant buys Ramada
Cendant Hotel Group completed its acquisition of Ramada International in mid December.
Cendant Hotel Group completed its acquisition of Ramada International in mid December. The transaction between Marriott International Inc. and Cendant Corporation’s Hotel Group was completed on December 10 for an undisclosed sum. Both hotel companies said the financial impact of the transaction was not material.
Ramada International is primarily a franchised brand of 204 open hotels representing 27,728 rooms under the Ramada Plaza, Ramada Hotels, Ramada Resorts and Ramada Encore brands in the United Kingdom, continental Europe including Scandinavia, the Middle East, Africa, Asia-Pacific, Australia, Mexico and Central America.
“This transaction substantially advances our strategic plan to expand aggressively outside the United States while we focus on the growth and improved performance of our domestic system,” says Steven Rudnitsky, chairman and CEO, Cendant Hotel Group.
The transaction completes the acquisition of all Ramada worldwide trademark rights by Cendant Hotel Group Inc., which earlier this year acquired the trademark rights for the Ramada brand in the United States, where it franchises 809 Ramada properties representing 93,037 rooms. The transaction also conveys Ramada trademark rights in Canada, where Cendant franchises 72 properties representing a total of 7,640 hotel rooms.
In connection with the acquisition, Cendant Hotel Group announced the appointment of Reas Kondraschow as senior vice president and managing director, international, responsible for development of the Ramada International, Days Inn, Howard Johnson and Super 8 and Wingate brands outside of the United States, Canada, Caribbean and Mexico.
Kondraschow formerly served Marriott International as senior vice president and managing director of Ramada International Hotels & Resorts in Bethesda, a position he held since April 1998. In that role, he was responsible for managing the business, including operations, finance, development, marketing, sales, reservations, design and construction. Kondraschow also held positions of increasing responsibility at Holiday Inn USA.