Ramada to Take New Name After Unit Sale

Ramada Inc., in the midst of the sale of its hotel business as part of a massive restructuring program, said Monday that it plans to change its name to Aztar Corp.

The name change will occur once the $540-million sale of the Ramada hotel chain to New World Development of Hong Kong is completed, a statement by Ramada said. If that sale is completed, Aztar’s remaining properties will be in the gaming business.

Aztar will keep its home office in Ramada’s present corporate headquarters in Phoenix.