Firm Wants to Buy Ramada, Howard Johnson:...
From Times Staff and Wire Reports
Firm Wants to Buy Ramada, Howard Johnson: The parent company of the Quality Inn motel chain wants to buy the Ramada and Howard Johnson franchise systems, officials of the firm said. If successful, the acquisition would create the largest lodging operation in the country. However, Prime Motor Inns, the current owner of Ramada and Howard Johnson, already has reached a preliminary agreement to sell 65% of the two franchise systems to Blackstone Capital, a New York-based investment group, in a $200-million deal.
