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Cendant buys Ramada
Cendant has made its second major acquisition in two weeks.
The travel group has bought Ramada International Hotels & Resorts from Marriott International. The acquisition adds 204 hotels, located across the world, to Cendant’s portfolio.
Ramada brands include Ramada Plaza, Ramada Hotels, Ramada Resorts and Ramada Encore.
Cendant Hotel Group chairman and chief executive Steven Rudnitsky said the purchase of Ramada was part of Cendant’s plan to expand outside the US.
At the beginning of the month Cendant bought UK online travel retailer ebookers for £209 million.
The development of the Ramada brand will be overseen by Cendant Hotel Group’s new senior vice president and managing director, Reas Kondraschow. Mr Kondraschow comes from Marriott, where he was managing director of Ramada International. He will also look after the Days Inn, Howard Johnson, Super 8 and Wingate brands outside the US, Canada, Caribbean and Mexico.
According to Cendant, it is now the world’s largest lodging franchisor with 6,331 hotels worldwide. The group claims to now sell nearly one fifth of all economy and midpriced room-nights in the US.
Report by Ginny McGrath
Ginny McGrath
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