"This transaction substantially advances our strategic plan to expand aggressively outside the US while we focus on the growth and improved performance of our domestic system," says Steven A. Rudnitsky, chairman/CEO of Cendant's Hotel Group.
Ramada International is primarily a franchised brand of 204 open hotels with a total of more than 27,700 rooms. The deal also completes the acquisition of all Ramada trademark rights worldwide by Cendant, which earlier this year acquired the rights for the Ramada brand in the US and Canada.
In connection with the acquisition, Cendant has appointed Reas M. Kondraschow as SVP and managing director, international, to oversee the Ramada, Days Inn, Howard Johnson, Super 8 and Wingate brands outside of the US, Canada, the Caribbean and Mexico. He comes to Cendant from Marriott International.
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