Cendant to Eliminate 300 Hotels
New York--Cendant Corp., owner of hotel brands including Days Inn, Howard Johnson and Ramada, said that it will eliminate 300 hotels, or 7 percent of its franchise hotel business, by the end of the year. The hotel cuts are aimed at purging substandard hotels as well as franchisees that have defaulted on fee payments. Cendant's plans to shore up its franchise hotel business involve eliminating up to 40,000 rooms. -Associated Press
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