CHICAGO Shareholders of Preferred Hotels & Resorts Worldwide have unanimously approved the creation of a new holding company, named IndeCorp Corp., as a pivotal element in a strategy to enable independent hotels and resorts to compete against global hotel chains. The new organization is designed to provide shared resources across multiple brands of independent hotels and resorts.
The IndeCorp business model, based on research by Pricewaterhouse Coopers, will invite other independent brands to join the organization to increase operating scale, add revenues through savings and efficiencies, attract financing, aggregate capital for technology and achieve the critical mass needed by independents to compete in the global environment.
Each brand under the IndeCorp umbrella, including Preferred Hotels & Resorts, will retain its own management practices and service and facility requirements. (9/21/00)