US hotel giant Cendant Corporation has signed an agreement to buy Ramada International Hotels & Resorts from Marriott International.
The two companies have signed a non-binding agreement that will see Cendant take over 206 properties, primarily franchised Ramada hotels.
The acquisition will give Cendant the worldwide trademark rights to Ramada. Earlier this year Cendant bought the trademark rights for the brand in the USA, where it franchises 819 Ramada properties. It also licenses Ramada rights in Canada.
Ramada International primarily franchises hotels under the Ramada Plaza, Ramada Hotels, Ramada Resorts and Ramada Encore brands in the UK, Europe, the Middle East, Africa, the Caribbean, the Americas, and Asia-Pacific.
Cendant chairman and chief executive Steven Rudnitsky said the acquisition would "unite the Ramada brand as a worldwide entity under a single company".
The deal is expected to complete within the next few months.