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Cendant Corporation was an American provider of business and consumer services, primarily within the real estate and travel industries. In 2005 and 2006, it broke up and spun off or sold its constituent businesses. Although it was based in New York City, the majority of its headquarters employees were in Parsippany-Troy Hills, New Jersey .
Jan 17, 2007 · Jan. 17, 2007, 9:42 AM PST / Source: The Associated Press. Former Cendant Corp. Chairman Walter Forbes was sentenced Wednesday to 12 years and seven months in prison and ordered to pay $3.275...
- NBC Universal
- The History of Cuc International
- The History of Hospitality Franchise Systems
- The 1997 Merger
- Overcoming The Scandal in The New Millennium
- Principal Subsidiaries
- Further Reading
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In the mid-1990s, CUC International Inc. offered individual consumers access to various services and discounts related to shopping, travel, insurance, automobiles, dining, vacationing, credit cardenhancement packages, and various discount and coupon programs. The company offered its services primarily through memberships to clubs and programs. Ente...
In the mid-1990s, Hospitality Franchise Systems, Inc., (HFS) was the world’s largest hotel franchiser, as measured by number of rooms and properties. Its chief franchise systems included Days Inns, Ramada, Howard Johnson, Super 8, Park Inns, and Village Lodges. It also engaged in the gambling industry and offered various lodging-related fee service...
During 1996, HFS and CUC began courting the idea of a merger. According to a 1997 Journal of Business Strategy article, both companies held beliefs that “merging will allow them to exploit their customer databases more fully, adding an estimated $250 million in annual incremental pretax earnings to their combined balance sheet over the next few yea...
Silverman pledged to restore shareholder confidence in Cendant, not only to boost the company’s image, but that of his own. Having spent most of his career as a highly regarded and well respected businessman in financial circles, Silverman spent most of 1999 and 2000 re-establishing Cendant as a leading consumer services firm. During 2000, the comp...
Cendant Mobility; Cendant Mortgage; Century 21; Coldwell Banker; Coldwell Banker Commercial; ERA; AmeriHost Inns& Suites; Avis; Days Inn; Fairfield Communities; Howard Johnson; Knights Inn; Phh Arval; Ramada; Resort Condominiums International; Super 8; Travelodge; Villager Lodge; Wingate Inn; Wright Express; AutoVantage; Benefit Consultants Inc.; C...
Adams, Bruce, “Cendant’s Moves Reinforce its Internet Strategies,”Hotel & Motel Management, March 6, 2000, p. 1. Braue, Marilee Laboda, “N.J. Hotel Giant Always Has Room for More,” Record,January 7, 1993, Bus. Sec. “Cendant Settles Class Action Suit,” United Press International,December 8, 1999. “CUC to Roll Out Shoppers Adventures,” ADWEEK Eastern...
Cendant Corporation is a global provider of travel, vehicle, real estate, and diversified services. It was formed in 1997 by the merger of Hospitality Franchise Systems and CUC International, and faced a major accounting scandal in 1999.
The remaining Cendant Corporation, which renamed itself Avis Budget Group, operates the company's car rental businesses. Career since 2006 [ edit ] In February 2009, Silverman assumed a position as chief operating officer of Apollo Global Management , a New York-based private equity firm.
Cendant Corp., owner of the Orbitz travel Web site and several hotel and real-estate brands, will split itself into four separate public companies, the conglomerate said Monday.
Jan 17, 2007 · Walter Forbes, the former chairman of Cendant Corp., was convicted of leading a scheme to inflate the stock of CUC International by $500 million in 1998. He was sentenced to 12 years and seven months in prison and ordered to pay $3.275 billion in restitution to the company and its investors.
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Oct 23, 2005 · NEW YORK, Cendant Corporation ( NYSE:CD) today announced that its Board of Directors has approved a plan to separate Cendant into four independent, publicly traded, pure-play companies – one...
