Bristol Hotel Co., Dallas, has acquired 61 company-managed Holiday Inn hotels in the U.S. and Canada for $659 million. The transaction makes Bristol the largest full-service hotel owner/operator in North America and the largest HI franchisee. Bass plc, London, owner of Holiday Inn, gets a 36.1% stake in Bristol. Hospitality industry insiders say the deal means that HI is now able to concentrate exclusively on its Express limited service product. There also is a report that HI could hook up with an upscale brand such as Omni or Wyndham to expand its Crowne Plaza portfolio.
Copyright December 1996, Crain Communications Inc.