Olympus Real Estate Corporation Completes Acquisition Of Majority Stake In Park Plaza International Hotels and Resorts.DALLAS, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. & SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Nov. 3, 1997--Olympus Real Estate Corporation, of Dallas, Texas, and Park Plaza International Hotels and Resorts (PPI (1) (Pixels Per Inch) The measurement of the resolution of a monitor or scanner. For example, a monitor that is 16 inches wide and displays 1600 pixels across its width would have a resolution of 100 ppi (1600 divided by 16). ), of Scottsdale, Arizona Scottsdale (O'odham Vaṣai S-vaṣonĭ) is a city in Maricopa County, Arizona, United States, adjacent to Phoenix. Scottsdale has become internationally recognized as a premier and posh tourist destination, while maintaining its own identity and culture as " , today announced that they have completed the previously announced transaction under which Olympus acquired a majority interest in a newly formed parent company to be known as Park Hotels International LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (PHI), which will control the worldwide operations of the Park Plaza and Park Inn hotel brands. Terms of the transaction were not disclosed. Olympus Real Estate Corporation, a leading private investment firm, and Park Plaza International Hotels and Resorts, a full-service international hotel company, are both privately held. Like its predecessor company (PPI), Park Hotels International LLC will be headquartered in Scottsdale, with a management team headed by Jonathan R. Read as President 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. and Frank E. Orenstein as COO. Founded in 1986, Park Plaza International Hotels and Resorts is a full-service hotel company providing operating, management, marketing, licensing and design services. Currently ranked 28th worldwide, the Park Plaza Group has more than 180 hotels in operation or under contract in 21 countries in Europe, Asia, the Middle East, Central America Central America, narrow, southernmost region (c.202,200 sq mi/523,698 sq km) of North America, linked to South America at Colombia. It separates the Caribbean from the Pacific. , Africa, the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada. Park Plaza International Hotels and Resorts includes the Park Inn International chain and the upscale Park Plaza Hotel brand. Olympus Real Estate Corporation, with offices in Dallas and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , invests in real estate equities, mortgages and securities in major markets throughout the United States. Olympus was formed in May 1994 by Hicks, Muse, Tate & Furst Incorporated and David B. Deniger. Since its formation, Olympus has completed approximately $1 billion in real estate investments including numerous hotels and commercial, residential and golf-related projects in California, New York, Florida, Illinois, Arizona, Colorado, Connecticut, Massachusetts, Georgia and Texas. Hospitality investments to date have included The Boca Raton Resort and Club, The Ritz-Carlton Rancho Mirage in southern California, The Fairmont Copley Plaza in Boston, The Cheeca Lodge in the Florida Keys, and The Algonquin Hotel in midtown Manhattan. CONTACT: Olympus Real Estate Corporation Roy Winnick Kekst and Company (212) 521-4842 Park Plaza International Hotels and Resorts Paul T. Carolan (602) 951-3335 |
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