Article: BOSTON BENEFITS FROM TRT HOLDINGS' PURCHASE OF OMNI HOTELS; OMNI PARKER HOUSE SLATED FOR $35 MILLION RENOVATION

CORPUS CHRISTI, Texas, Feb. 29 /PRNewswire/ -- Omni Hotels Corporation was purchased today by TRT Holdings, Inc., from Hong Kong-based Wharf (Holdings) Ltd., for the announced purchase price of $500 million. The deal includes nine upscale hotels, management contracts or franchise agreements on 26 others, and the rights to the Omni Hotels brand worldwide, excluding Asia.

Robert Rowling, CEO of TRT Holdings, announced the agreement and pledged to take the necessary steps to make the Omni Hotels brand "a premier 4-star chain across North America." He has already committed $80 million in renovations to two of the key properties in the Omni Hotels network -- the Omni ...

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