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MARRIOTT TO SELL 40 BIG BOY RESTAURANTS TO SHONEY'S, THOMPSON HOSPITALITY

 MARRIOTT TO SELL 40 BIG BOY RESTAURANTS
 TO SHONEY'S, THOMPSON HOSPITALITY
 WASHINGTON, June 2 /PRNewswire/ -- Marriott Corp. (NYSE: MHS) and Shoney's, Inc. (NYSE: SHN), today announced that Marriott had signed a definitive agreement to sell 40 Bob's Big Boy restaurants in Maryland, Virginia and the District of Columbia to Shoney's and Thompson Hospitality, Inc. (THI), a Shoney's franchisee.
 The total purchase price is expected to be $17.6 million, with Shoney's, Inc., acquiring nine restaurants for $4.5 million and THI purchasing 31 restaurants for $13.1 million. The parties expect to close the transaction within 90 days.
 Under a development agreement to be entered into with Shoney's, Inc., THI will convert at least 26 of its 31 units to Shoney's restaurants within two years. The nine locations being purchased by Shoney's, Inc., will be converted to Shoney's restaurants within four months after closing.
 "Upon completion of its conversions, THI will be one of the largest minority franchised businesses in the United States," said William J. Shaw, president of the Marriott Service Group. "We're delighted that we could play a part in creating this opportunity while pursuing our goal of exiting the family restaurant business."
 Leonard H. Roberts, chairman and chief executive officer of Shoney's, Inc., said, "This transaction reflects our continuing commitment to promote minority participation in our businesses. We will continue to actively seek qualified entrepreneurs to join our restaurant business through our Minority Franchise Development program."
 Upon completion of the conversions, THI will become one of the five largest Shoney's restaurant franchisees. The company will be headed by Warren M. Thompson, an executive with more than nine years experience with Marriott's Restaurant Group and its Host International subsidiary. Darryl B. Thompson, most recently special assistant to the chairman of TLC Beatrice International, will be chief administrative officer. H. Clark Rabon, controller and senior finance director for Marriott's former Roy Rogers division, will be chief financial officer.
 By acquiring prime restaurant locations in Maryland and Virginia, Shoney's will further strengthen its position in those states. The District of Columbia, which represents a new market for Shoney's restaurants, fits into a logical expansion program of Shoney's in the northeastern United States.
 Conversions of the Bob's Big Boy restaurants will include exterior and interior remodeling. When completed, each restaurant will seat approximately 170 people.
 Marriott Corp., based in Washington, is a diversified hospitality company involved in lodging and contract services. Sales in 1991 exceeded $8.3 billion.
 Shoney's, Inc., is a diversified food service operator and franchiser of restaurants, including more than 800 Shoney's in 29 states, Captain D's, Lee's Famous Recipe chicken, Fifth Quarter and Pargo's. Headquartered in Nashville, Tenn., the company had sales of approximately $1 billion for fiscal 1991.
 -0- 6/2/92
 /CONTACT: Richard Sneed of Marriott, 301-380-5177, or Sandra Vail McCaffrey of Dye, Van Mol & Lawrence, 615-244-1818, for Shoney's/
 (MHS SHN) CO: Marriott Corporation; Shoney's Inc.; Thompson Hospitality, Inc. ST: District of Columbia IN: LEI SU:


DC -- DC013 -- 6265 06/02/92 13:56 EDT
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Publication:PR Newswire
Date:Jun 2, 1992
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