Cendant Corporation (NYSE: CD) today announced that it has completed the acquisition of the AmeriHost Inn” and AmeriHost Inn and SuitesSM brand names and franchising rights. Terms were not disclosed.
AmeriHost Inn® and AmeriHost Inn and SuitesSM are new construction, limited service, mid-priced hotels. As previously announced, Amerihost Properties, Inc. (API) and Cendant intend to grow the AmeriHost hotel system through continued property development by API and active franchise sales to third parties by Cendant. Additionally, API has entered into an agreement with Cendant to share royalties on AmeriHost hotels for a period of 25 years.