PARSIPPANY, NJ— Bob Foley, president/CEO of Travelodge Hotels for the past four years, has announced his resignation from that Cendant Corp. brand in order to pursue private investment business throughout the Northeast in general and the Cape Cod, MA-area in particular. Foley— who, in his new venture, will be looking at opportunities in the hotel, education and staffing arenas— indicated he would be staying on in his Travelodge position until Cendant is able to find his replacement. Foleys departure marks the latest instance of a vested veteran leaving a long-held brand (or division) post in recent months; a turn of events that ostensibly began with Eric Pfeffer stepping down as chairman/CEO of Cendants Hotel Division this past September. A month later, new Hospitality Division Chairman/CEO Stephen Holmes organizational re-alignment coincided with Ken Rodgers exiting as Villager president/CEO (while Joe Kane and Bob Weller were elevated to posts overseeing a handful of Cendant hotel brands each). Subsequent top-level internal changes taking place earlier this month include: • John Paul Nichols, former president/CEO of Wingate Inns International, trading in his responsibilities as evp/chief marketing officer for the Hotel Division to take up the reins as evp – leisure property management for Cenadnts Resort Condominiums International; • Bruce Bloom “hanging it up” as president/CEO for Knights Inn; and • Steve Belmonte resigning as president/CEO of Ramada Franchise Systems.—Michael Billig
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