Printer Friendly

RAMADA LAUNCHES NEW HOTEL BRAND FOR ECONOMY SEGMENT

 RAMADA LAUNCHES NEW HOTEL BRAND FOR ECONOMY SEGMENT
 PARSIPPANY, N.J., Nov. 18 /PRNewswire/ -- Ramada Franchise Systems,


Inc. today announced its entry into the economy lodging segment under the name Ramada Limited. The prototype Ramada Limited will be approximately 100 rooms.
 "Ramada is one of the most recognized names in lodging," said President Steven J. Belmonte. "It has long stood for quality, value and service, and Ramada Limited will be developed with those same criteria."
 According to Frank Belatti, president of Ramada's parent company, Hospitality Franchise Systems, Ramada Limited is the result of extensive research that revealed an economy option would appeal to a portion of Ramada's core brand guests and open the way to new ones. "We're excited about its potential for success," he said. "We believe economy lodging will outperform the industry as a whole in the next four to five years."
 "We expect the majority of the growth of Ramada Limited to come from new licensees," said Mike Lee, HFS' executive vice president of franchise sales, "but current Ramada owners may also now consider a limited service option." Costs for new construction and conversions will be dedicated to revenue-producing guestrooms instead of public space, a concept designed to appeal to potential licensees. Projections call for 75 U.S. Ramada Limited openings in 1992 and more than 300 operating throughout the United States by 1995.
 Ramada Franchise Systems, a subsidiary of Hospitality Franchise Systems, is a chain of nearly 600 independently owned hotels, inns and resorts throughout the United States. Ramada International Hotels & Resorts, a subsidiary of Hong Kong-based New World Development, is represented by Ramada Renaissance Hotels worldwide and Ramada Hotels and Inns outside the United States. It owns, manages and franchises 110 hotels in 36 countries. Ramada Limited will be franchised by HFS in the United States.
 -0- 11/18/91
 /CONTACT: Carolyn Bryson or Nancy Berrian of Ramada Franchise Systems, 201-428-9700/ CO: Ramada Franchise Systems, Inc. ST: New Jersey IN: LEI SU: PDT FC-OS -- NY001 -- 1184 11/18/91 07:00 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 18, 1991
Words:337
Previous Article:DRY CLEANING & LAUNDRY INSTITUTE OF DETROIT, INC. FILES LAWSUIT AGAINST PRICE-FIXING DISTRIBUTORS
Next Article:32 FEDERALLY INSURED CREDIT UNIONS INSOLVENT AS OF JUNE 30, 1991
Topics:


Related Articles
RAMADA INTERNATIONAL ANNOUNCES FORMATION OF NEW HOTEL BRAND 'RENAISSANCE HOTELS & RESORTS' OFFICIALLY DEBUT JAN. 1, 1993
RAMADA INTERNATIONAL RINGS IN NEW YEAR WITH 'RENAISSANCE HOTELS & RESORTS' AND 'RENOIR'; GLOBAL HOTEL COMPANY LAUNCHES NEW HOTEL BRAND
RAMADA PLAZA HOTELS LAUNCHED; NEW UPSCALE PRODUCT FOR RAMADA FRANCHISE SYSTEMS INC.
Renaissance Hotel Group N.V. Announces Opening Of Ramada International Hotel In Hyderabad, India And New Franchise Signing In Tokyo
First New Construction Ramada Prototype to be Built.
TNI signs up Abu Dhabi,COs first ramada.
V. Five Continents Launches Ramada Hotel & Suites Towers in Ajman.
New Ramada hotel project launched in Ajman.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters