AFM Hospitality Corporation Announces Sale of Windsor Hotel.TORONTO--(BUSINESS WIRE)--April 9, 1998--AFM Hospitality Corp. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :AFM (Atomic Force Microscope) A device used to image materials at the atomic level. AFMs are used to solve processing and materials problems in electronics, telecom, biology and other high-tech industries. .) On April 6th, 1998, Terry Shaikh, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AFM Hospitality Corporation, announced that the company recently completed the sale of the company owned hotel in Windsor, Ontario. The property will remain a Howard Johnson franchise. Proceeds of the sale will be used to reduce long term debt and to further develop the company's franchising operations and management. "This sale is part of the company's Howard Johnson unit strategy to focus on the franchising and management of Howard Johnson hotels in Canada," Mr. Shaikh said. AFM Hospitality Corporation through a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. is the master franchisor in Canada for the Howard Johnson brand of mid-priced hotels. CONTACT: AFM Hospitality Corporation Douglas H. Harley, 416/ 620-4656 |
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