Renaissance Hotels
Encyclopedia
Renaissance Hotels is a worldwide brand
of hotel
s and resort
s. The brand is owned by Marriott International
and many Renaissance Hotels are managed by Marriott; however, some are operated under a franchise license. Renaissance Hotels, Resorts and Suites cater to an upmarket segment of the traveling public. While initially acquired by Marriott as a secondary-brand, in recent years Renaissance has established itself as a boutique-like hotel chain.
Renaissance Hotels was founded in 1982 as Ramada Renaissance Hotels, the upscale division of Ramada
Inns, Inc.
In 1989, the bulk of the Ramada hospitality and franchise system was acquired by New World Development
Company of Hong Kong (the U.S. rights to the Ramada name were sold to Prime Hospitality), and the former Ramada Corp. was renamed Aztar Corp.
New World established Renaissance as a stand-alone brand.
In 1993, New World acquired Stouffer Hotels from Nestle
and folded the Stouffer hotels into the Renaissance chain. New World took their management and franchising company public, while retaining ownership of many of the individual hotels through its CTF Holdings subsidiary.
In 1997 Marriott acquired the Netherlands-incorporated Renaissance Hotel Group N.V., and retained the Renaissance brand, while eventually shedding the Ramada International business in phases to Cendant
Corp. In 2005 Marriott acquired most of the remaining New World/CTF owned Renaissance Hotels in North America and Europe, with the intent of selling them under long-term management and/or franchise contracts.
Brand
The American Marketing Association defines a brand as a "Name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers."...
of hotel
Hotel
A hotel is an establishment that provides paid lodging on a short-term basis. The provision of basic accommodation, in times past, consisting only of a room with a bed, a cupboard, a small table and a washstand has largely been replaced by rooms with modern facilities, including en-suite bathrooms...
s and resort
Resort
A resort is a place used for relaxation or recreation, attracting visitors for holidays or vacations. Resorts are places, towns or sometimes commercial establishment operated by a single company....
s. The brand is owned by Marriott International
Marriott International
Marriott International, Inc. is a worldwide operator and franchisor of a broad portfolio of hotels and related lodging facilities. Founded by J. Willard Marriott, the company is now led by son J.W. Marriott, Jr...
and many Renaissance Hotels are managed by Marriott; however, some are operated under a franchise license. Renaissance Hotels, Resorts and Suites cater to an upmarket segment of the traveling public. While initially acquired by Marriott as a secondary-brand, in recent years Renaissance has established itself as a boutique-like hotel chain.
History
Ramada
Ramada is a hotel chain owned and operated by Wyndham Worldwide.- History :The lodging chain was founded in 1953 by longtime Chicago restaurateur Marion W...
Inns, Inc.
In 1989, the bulk of the Ramada hospitality and franchise system was acquired by New World Development
New World Development
New World Development Company Limited , based in Hong Kong, is active in property, infrastructure, services and telecommunications. It was established in 1970 with Dr Ho Sin Hang as Chairman and Chow Chi Yuen as Director and General Manager...
Company of Hong Kong (the U.S. rights to the Ramada name were sold to Prime Hospitality), and the former Ramada Corp. was renamed Aztar Corp.
Aztar
Aztar Corporation is a hospitality company that focused on resort hotels and casinos. In 2005, the company had revenues of more than $915 million and earnings before interest and taxes of $212 million. During 2006 the company became the subject of a bidding war for ownership, with Columbia Sussex...
New World established Renaissance as a stand-alone brand.
In 1993, New World acquired Stouffer Hotels from Nestle
Nestlé
Nestlé S.A. is the world's largest food and nutrition company. Founded and headquartered in Vevey, Switzerland, Nestlé originated in a 1905 merger of the Anglo-Swiss Milk Company, established in 1867 by brothers George Page and Charles Page, and Farine Lactée Henri Nestlé, founded in 1866 by Henri...
and folded the Stouffer hotels into the Renaissance chain. New World took their management and franchising company public, while retaining ownership of many of the individual hotels through its CTF Holdings subsidiary.
In 1997 Marriott acquired the Netherlands-incorporated Renaissance Hotel Group N.V., and retained the Renaissance brand, while eventually shedding the Ramada International business in phases to Cendant
Cendant
Cendant Corporation was a New York-based provider of business and consumer services, primarily within the real estate and travel industries. In 2005 and 2006, Cendant broke up and spun off or sold its constituent businesses...
Corp. In 2005 Marriott acquired most of the remaining New World/CTF owned Renaissance Hotels in North America and Europe, with the intent of selling them under long-term management and/or franchise contracts.