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
|Printer friendly Cite/link Email Feedback|
|Date:||Nov 18, 1991|
|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|