BERLIN, March 8, 1999 - At the Internationale Tourismus-Borse
(ITB) travel show in Berlin, Cendant Corporation's (NYSE: CD) international
franchising subsidiary, Cendant Global Services BV, announced a number
of important developments in the international expansion of the Company's
hotel brands. These include:
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The first UK hotels for its Howard Johnson(R) and Days Inn(R) brands are
under construction and are expected to open by the end of the year;
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The opening of the first Super 8(R) motel outside of North America -- the
Super 8 Alana in Singapore;
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The opening of the 100th international Days Inn hotel in Midrand, South
Africa;
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The planned opening of two luxury Howard Johnson resorts in Egypt on the
Red Sea;
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Hotel openings in Ecuador, Indonesia and Oman.
"Our international growth is flourishing and we are very excited about
the recent ground breaking in the UK," said Eric E. Pfeffer, chairman and
CEO of Cendant's Hotel Division. "There is already a high awareness
of both Howard Johnson and Days Inn in the UK. Coupled with a great
demand for quality mid-market hotels both in the UK and across Europe,
we expect to see continued growth in the years ahead."
Pfeffer also announced that 1998 laid the groundwork for Cendant's future
success through the signing of several international master license agreements:
the United Kingdom, Central & Eastern Europe (10 countries), China,
Italy, Romania, Oman and Venezuela.
"The stage is now set for our targeted expansion into Europe," said
William J. Hanley, senior vice president worldwide sales for Cendant's
Hotel Division. "We are in negotiations for several countries in
Western Europe, and expect to have several European agreements signed by
mid-year."
It is anticipated that more than 70 non-U.S. Cendant branded hotels
will open in 1999. Outside the United States, Cendant currently has
a combined total of more than 350 Days Inn, Howard Johnson, Travelodge(R),
Ramada(R) and Super 8(R) hotels outside the United States. There
are 100 Days Inns hotels operating in Canada, China, India, Mexico, the
Philippines, South Africa and Uruguay. Howard Johnson has nearly
60 international hotels in Canada, Colombia, Dominican Republic, Indonesia,
Israel, Lebanon, Malta, Mexico, United Arab Emirates, and Venezuela.
Internationally, Cendant also franchises Wingate Inns(R), Knights Inn(R)
and Villager Lodge(R).
Cendant Corporation is a global provider of consumer and business
services. Outside the United States, hotels are franchised by master
licensees under arrangements with Cendant Global Services BV, the international
franchising arm of Cendant Corporation. To access more information
about Cendant Corporation or its brands, visit Cendant's Internet site
at http:/www.cendant.com. |
