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RamadaRamada (Formerly Ramada Inns, Inc.) is a hotel chain and the former owner of a chain restaurants which were originally located inside of the Ramada branded hotels. The company was founded in 1954 by Marion W. Isbell and was first headquartered in Phoenix, Arizona. It is currently owned by Cendant Corporation and is headquartered in Parsippany-Troy Hills, New Jersey. Under Cendant's ownership Ramada franchises Ramada, Ramada Limited, Ramada Renaissance and Ramada Suites in the United States and Canada, Ramada itself no longer directly or indirectly owns or operates any of the Ramada hotels. Outside of the U.S. and Canada Ramada hotels are owned, operated or franchised by Ramada International which until recently was owned by rival hotel operator Marriott International but was purchased in 2004 by Cendant Corporation giving Cendant the worldwide rights to the Ramada name. Ramada International remains separate from the U.S. and Canadian Ramada operations. In an attempt to revive the company's lagging business, management in 1989 decided to split it's hotel/restaurant businesses and it's gaming businesses. The Ramada hotels and restaurants were sold for $540 million to New World Development Company and the gaming business which included Tropicana Casino Resort Atlantic City and the Tropicana Resort & Casino in Las Vegas, Nevada as well as the Ramada Express in Laughlin, Nevada and Casino Aztar in Evansville, Indiana and Caruthersville, Missouri were spun off to a new company called Aztar Corporation. In the original deal for the gaming business Ramada shareholders were suppose to get $7 in cash per share plus a half a share of the new Aztar Corporation, However that was changed fairly quickly to a new deal where shareholders would now get $1 per share plus 1 share of Aztar Corporation. Trivia: As an inside joke, many of the company owned and franchised Ramada Inn properties originally used the word Adamar as part of their hotel property's corporate name. Adamar is Ramada spelled backwards. Trivia: Ramada's parent company Cendant Corporation also owns other hotel brands which include Amerihost Inn, Days Inn, Howard Johnson's, Knights Inn, Travelodge and Wingate Inns. External Links * Cendant Corporation official website
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