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Prime Hospitality Corp. history
Prime Hospitality Corp. company history timeline
They took the company public in 1969 as Prime Motor Inns, Inc.
Imperial had paid $630 million for Howard Johnson in 1980.
In 1989 the company announced that it was buying the franchising operations of the Ramada Inn chain, which had close to 500 hotels.
By May 1990 Prime was no longer talking about building more Howard Johnsons, but was instead selling 65 percent of the Howard Johnson and Ramada Inn franchise to a New York investment group for $140 million.
Prime tried to raise money on Wall Street early in 1990, and was hit by tough questions about its loans and accounting.
1990: Prime files for Chapter 11 bankruptcy.
Prime considered selling its Wellesley chain in 1995 so that it could put all of its resources into expanding the AmeriSuites chain.
1997: Prime buys the HomeGate extended-stay chain.
Prime built and ran the HomeGate chain until 1999, when the hotels were converted to the Wellesley brand.
In 2000 the company again began heavy recruiting for franchisees, offering large financial incentives.
By mid-2002, Prime had 143 AmeriSuites in operation, with six more under construction and almost 60 franchise agreements hammered out for new properties.
With a planned opening for 2013, the Fairfield Inn & Suites Delray Beach has already developed “buzz” as a model partnership for community revitalization, growth and cooperation.
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Prime Hospitality Corp. competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Lodgian, Inc. | 1956 | $280.0M | 3,046 | - |
| Pyramid Hotel Group | 1999 | $140.0M | 1,800 | - |
| Concord Hospitality Enterprises | 1985 | $130.0M | 1,120 | - |
| Remington Hotels | 1992 | $360.0M | 3,318 | 431 |
| The Hotel Group | 1984 | $260.0M | 35,330 | - |
| Horizon Hotels | 1976 | $66.0M | 750 | - |
| Pinnacle Hotel Management | 1997 | $62.0M | 750 | 1 |
| Charlestowne Hotels | 1980 | $13.0M | 500 | - |
| Marshall Hotels and Resorts | 1980 | $220,000 | 7 | - |
| Paramount Hotel Group, LLC | 1999 | $71.0M | 835 | - |
Prime Hospitality Corp. history FAQs
Zippia gives an in-depth look into the details of Prime Hospitality Corp., including salaries, political affiliations, employee data, and more, in order to inform job seekers about Prime Hospitality Corp.. The employee data is based on information from people who have self-reported their past or current employments at Prime Hospitality Corp.. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Prime Hospitality Corp.. The data presented on this page does not represent the view of Prime Hospitality Corp. and its employees or that of Zippia.
Prime Hospitality Corp. may also be known as or be related to PRIME HOSPITALITY CORP, Prime Hospitality Corp and Prime Hospitality Corp.