A merger announced by Doubletree Corp., Phoenix, and Promus Hotel Corp., Memphis, will create the nation's third-largest hotel company, ranked by revenues, behind Marriott Hotels and Holiday Hospitality, formerly Holiday Inn Worldwide. Promus Hotel Corp. will be the name of the holding company for the two hotel subsidiaries. The new company will have about $5 billion in annual systemwide revenues. The location of headquarters is still to be determined, as are responsibilities for marketing, reservations, finance and operations. Promus uses DDB
Needham Worldwide, Dallas, as its lead agency while Doubletree recently selected GSD&M, Austin.
Copyright September 1997, Crain Communications Inc.