When was Renaissance Hotels founded and by whom?
Renaissance Hotels was founded in 1981 as Ramada Renaissance, an upscale division of Ramada Inns. The first property opened in Aurora, Colorado, outside Denver.
Questions about Renaissance Hotels
Short answers, pulled from the story.
How much did Marriott International pay to acquire Renaissance Hotel Group?
Marriott International bought Renaissance Hotel Group N.V. from New World Development for US$1 billion on the 18th of February 1997. The deal topped a rival offer of $890 million from Doubletree Corp.
What is the history of New World Development's ownership of Renaissance Hotels?
Hong Kong-based New World Development acquired Ramada's hotels and restaurants in 1989 for $540 million, then separated Renaissance Hotels as its own brand. In 1993 NWD also purchased the Stouffer Hotels and Resorts chain from Nestle for an estimated $1.5 billion, adding 40 hotels. NWD took its management company public in 1995 and sold it to Marriott in 1997.
How many Renaissance Hotels are there worldwide?
As of the 31st of January 2023, Renaissance Hotels operates in more than 170 locations worldwide. The portfolio spans North America, Europe, the Middle East and Africa, Asia-Pacific, and the Caribbean and Latin America.
What is the oldest property in the Renaissance Hotels portfolio?
The Renaissance Cleveland Hotel traces its history to 1918, when it opened as Hotel Cleveland. It became part of the Tower City Center complex and has hosted guests including The Beatles, Martin Luther King Jr., and Dwight D. Eisenhower.
What happened to the Stouffer Hotels brand after New World Development acquired it?
New World Development acquired Stouffer Hotels and Resorts from Nestle in 1993 and licensed the Stouffer brand for three years. Twenty-eight U.S. properties were temporarily reflagged as Stouffer Renaissance during a transitional period that lasted until 1996, after which the Stouffer name was retired. The Marriott acquisition in 1997 did not include the Stouffer Hotels brand.