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PARK INNS WITHDRAWS OFFER TO NENDELS

 PARK INNS WITHDRAWS OFFER TO NENDELS
 SAN FRANCISCO, Nov. 9 /PRNewswire/ -- Park Inns International, a


worldwide hotel franchising group, today announced it has withdrawn its merger proposal to Nendels Corp., a Seattle-based franchiser of mid-priced and economy hotels. In February 1992, Park Inns proposed that Nendels and Park Inns combine their U.S. franchise systems.
 Each company operates about 70 properties in the United States. In addition, Park Inns has over 40 hotels in operation or under development in six foreign countries.
 Jonathan R. Read, president and chief executive officer of Park Inns, cited current liquidity problems of Nendels Corp. and the state of Nendels franchise system as reasons for withdrawing the merger proposal.
 -0- 11/9/92
 /CONTACT: Jonathan R. Read, president and chief executive officer of Park Inns International, 415-362-0987/ CO: Park Inns International; Nendels Corp. ST: California IN: LEI SU:


SG-GT -- SF017 -- 8999 11/09/92 20:17 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 9, 1992
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