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Article: Marshall Management, Inc. Terminates Planned Merger with AFM Hospitality; Reaffirms Goal to Be Leader in Mid-Sized Management Company Segment.
- Article from:
- Business Wire
- Article date:
- January 3, 2003
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Business Editors
SALISBURY, Md.--(BUSINESS WIRE)--Jan. 3, 2003
Marshall Management, Inc., a leading mid-sized management company, and Toronto-based AFM Hospitality Corporation (TSX: AFM) today announced that the companies have jointly agreed to terminate a previously announced merger.
Privately owned Marshall Management currently operates a portfolio of 20 three- and four-star hotels and resorts. AFM Hospitality operates or franchises more than 200 hotels in North America.
"The trend toward consolidation among management companies had prompted us to examine alternative strategies that might benefit both the company and our hotel ...