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Cendant completes Ramada deal

09 September 2005
Cendant completes Ramada deal

Cendant Hotels has completed its deal with Marriott to become the new owner of the 200-strong worldwide Ramada hotel brand.

The group will now be split into two Ramada divisions. The first in the USA will contain Ramada Plaza and Ramada hotels, dropping Ramada Inn and Ramada Limited.

The second division will be called International and will encompass Ramada Encore and Ramada Resorts.

Cendant originally agreed to buy Ramada back in October 2004 in a non-binding contract.

Steven Rudnitsky, Cendant's chairman and chief executive said at the time the acquisition would "unite the Ramada brand as a worldwide entity under a single company".

Marriott said the hotels did not fit into its portfolio.

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