NEW YORK- Cendant Corp. and AmeriHost Properties announced that they have signed a definitive agreement for Cendant to acquire the AmeriHost Inn and AmeriHost Inn and Suites brand names and franchising rights. The terms of the deal were not disclosed, but the transaction is expected to close in the fourth quarter of 2000. AmeriHost Properties (API) and Cendant intend to grow the AmeriHost hotel system through continued property development by API and active franchise sales to third parties by Cendant. (8/18/00)
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