Alticor
Encyclopedia
Corporation
A corporation is created under the laws of a state as a separate legal entity that has privileges and liabilities that are distinct from those of its members. There are many different forms of corporations, most of which are used to conduct business. Early corporations were established by charter...
, owned and run by members of the DeVos
Richard DeVos
Richard DeVos, Sr. is an American businessman, co-founder of Amway along with Jay Van Andel , and owner of the Orlando Magic NBA basketball team...
and Van Andel
Jay Van Andel
Jay Van Andel was an American businessman best known as co-founder of the Amway Corporation, along with Richard DeVos. He also served as Chairman of the U.S...
families. It was established in 1999 to serve as the parent company
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
for a handful of business ventures, most notably the direct selling
Direct selling
Direct selling is the marketing and selling of products directly to consumers away from a fixed retail location. Peddling is the oldest form of direct selling. Modern direct selling includes sales made through the party plan, one-on-one demonstrations, and other personal contact arrangements as...
company Amway
Amway
Amway is a direct selling company and manufacturer that uses network marketing to sell a variety of products, primarily in the health, beauty, and home care markets. Amway was founded in 1959 by Jay Van Andel and Richard DeVos...
and Quixtar
Quixtar
Amway Global is a multi-level marketing or network marketing company, founded 1959 in Ada, Michigan, United States...
and a manufacturing and distribution company, Access Business Group. In 2006, Alticor purchased Gurwitch Products
Gurwitch Products
Gurwitch Products produces, manages and markets Laura Mercier Cosmetics, a global brand of high-end cosmetics, skincare and body and bath. Launched in 1996 and based in Houston, Texas, the Laura Mercier line is available in over 650 doors in 24 countries....
from Neiman Marcus
Neiman Marcus
Neiman Marcus, formerly Neiman-Marcus, is a luxury specialty retail department store operated by the Neiman Marcus Group in the United States. The company is headquartered in the One Marcus Square building in Downtown Dallas, Texas, and competes with other department stores such as Saks Fifth...
Group Inc., an investment firm and Gurwitch Product CEO Janet Gurwitch.
Alticor Corporate Enterprises
Founded in 2006, Alticor Corporate Enterprises is a subsidiary holding corporation of Alticor's non-direct selling companies: Amway Hotel Corporation, Gurwitch Products, Interleukin Genetics and Fulton Innovation. Pyxis Innovations Inc., formed in 2000, purchase ownership in Interleukin Genetics and is a wholly owned subsidiary of Alticor Inc.Amway Hotel Corporation
Alticor subsidiary Amway Hotel Corporation owns the Amway Grand Plaza HotelAmway Grand Plaza Hotel
Amway Grand Plaza Hotel is located in Grand Rapids, Michigan and is named after Amway Corporation, which is based in nearby Ada Township.Originally known as The Pantlind Hotel , Amway Grand Plaza Hotel reopened in 1981 after extensive renovations done by Marvin DeWinter & Associates including the...
in downtown Grand Rapids, Michigan
Grand Rapids, Michigan
Grand Rapids is a city in the U.S. state of Michigan. The city is located on the Grand River about 40 miles east of Lake Michigan. As of the 2010 census, the city population was 188,040. In 2010, the Grand Rapids metropolitan area had a population of 774,160 and a combined statistical area, Grand...
, which opened in 1913 as the Pantlind Hotel. It was purchased, refurbished, expanded, and renamed in 1981. The company owns and operates the Courtyard by Marriott
Courtyard by Marriott
Courtyard by Marriott is a brand of hotels owned by Marriott International. Courtyard by Marriott is designed for business travelers but also accommodates to families. Its rooms feature large desks, couches, free broadband Internet access, and "big" breakfasts. The majority of locations have...
in Plaza Towers.