Jarvis Hotels has signed a 20-year franchise agreement with Marriott Hotels which will see 56 of its 66 rebranded Ramada International.
The majority of the hotels will become Ramada-Jarvis, the London property will be renamed Ramada Plaza and the Jarvis Gloucester Hotel will be rebranded a Ramada Resort. Six of the remaining 10 properties will be sold.
The company has also confirmed it is in talks with two financial institutions over a sale and leaseback of some of the group’s £500m of assets.
The Times 13/06/2001 page 25 (Tempus), page 26
Financial Times 13/06/2001 page 23
The Independent 13/06/2001 page 19 (The Investment Column)
The Daily Telegraph 13/06/2001 page 35
