Bass PLC has bought into a famous...

Bass PLC has bought into a famous U.S. hotel firm, paying Holiday Corp. $475 million for the international assets and 13 U.S. hotels of Holiday Inn. The purchase allows Bass, the British company famous for its ale, “to join the select band of major international hotel companies and enjoy a brand name with worldwide recognition,” said Ian Prosser, managing director of Bass. The agreement gives Bass exclusive rights to the Holiday Inn trademark outside the United States, Canada and Mexico. Bass said the deal covers 178 hotels with almost 44,000 rooms. The 13 U.S. hotels being taken over are in Florida, Tennessee and South Carolina.