Promus Hotel Corporation
Promus Hotel Corporation's beginnings are tied to the original Holiday Inn company in Memphis, Tennessee. By 1974 Holiday Inn had diversified into several businesses that included a meat processing company, furniture processing, and a bus line. In 1974 Holiday Inn began to refocus on its core business and sell off most of these non-core businesses. In 1990 Holiday Inn spun off the Promus Companies and then in 1995 the Promus Companies spun off Promus Hotel Corporation.
Promus was then sold to Hilton Hotels Corporation for $3.7 billion in 1999.
- "The Lodging Industry - Rooms on the Run". California State University website. Retrieved 2007-06-06.
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