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Marriott International (MAR Quote) Wednesday said it had agreed to sell its Ramada International Hotels & Resorts unit to Cendant's (CD Quote) hotel group.
The companies did not disclose financial terms of the agreement.
Ramada is primarily a franchised brand of 204 hotels operating in 26 countries and territories. Earlier this year, New York-based Cendant acquired the trademark rights to the Ramada brand in the United States, where there are 819 franchised properties. It also owns the Canadian rights. ...
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