AFM Hospitality Corporation First Quarter Growth on Target.TORONTO--(BUSINESS WIRE)--April 9, 1998--(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. .) 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 is pleased to announce that during the first quarter of 1998, both the Ramada ra·ma·da n. Southwestern U.S. 1. a. An open or semienclosed shelter roofed with brush or branches, designed especially to provide shade. b. An open porch or breezeway. 2. and Howard Johnson brands have continued to grow in line with corporate targets. "Both brands experienced growth in both occupancy and REVPAR during the period," Mr. Shaikh said. Ramada The Ramada brand is on track to sign a minimum of twelve new franchises in 1998. During the first half of 1998 properties will open in Abbotsford, Fort St. John Fort St. John can refer to more than one place:
Howard Johnson Howard Johnson, during the first six months of 1998, will see new locations in Victoria, British Columbia; Bowmanville, Ontario; and two locations in Edmonton, Alberta. Purchasing Division The company purchasing division, HFS Purchasing Services Canada, is seeing the benefit of its recent reorganization and the strong Canadian hotel market. The company anticipates a major turn around in the financial contribution from this division. AFM Hospitality Corporation, through two wholly owned subsidiaries, is the master franchisor of Ramada and Howard Johnson hotels in Canada. The company currently has 75 hotels franchised across Canada. CONTACT: AFM Hospitality Corporation Douglas H. Harley, 416/ 620-4656 |
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