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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the Month of March, 1997
RENAISSANCE HOTEL GROUP N.V.
(Translation of Registrant's Name Into English)
C/O RENAISSANCE HOTELS INTERNATIONAL
29800 Bainbridge Road, Solon, Ohio 44139
(Address of Principal Executive Offices)
(Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F.
Form 20-F X Form 40-F
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(Indicate by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
Yes NO X
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(If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-________.)
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MARRIOTT INTERNATIONAL COMPLETES ACQUISITION OF
RENAISSANCE HOTEL GROUP
WASHINGTON, March 31 /PRNewswire/ -- Marriott International, Inc. (NYSE: MAR)
today announced that it has completed the acquisition of Renaissance Hotel Group
N.V. (NYSE: RHG), a premier operator and franchiser of 150 hotels (46,425 rooms)
in 38 countries.
Shareholders of the Renaissance Hotel Group received $30 per share in cash. As
announced on February 18, Marriott agreed to acquire Renaissance Hotel Group for
a total acquisition cost of approximately $1 billion, including transaction
costs and existing net debt of Renaissance.
J.W. Marriott, Jr., chairman and chief executive officer of Marriott
International, said, "We are very pleased to complete the acquisition of the
Renaissance Hotel Group, which adds three premier brands to our lodging business
and more than doubles Marriott's presence in markets outside the United States.
We have significantly expanded our access to customers in new and emerging
markets worldwide with the addition of these powerful brands."
Combined, Marriott and Renaissance Hotel Group currently operate or franchise
1,300 hotels with approximately 275,000 rooms. As part of the acquisition,
Marriott has a strategic alliance for future hotel development with the Hong
Kong-based New World Development Co., Ltd., the principal Renaissance
shareholder prior to the transaction.
Renaissance Hotel Group operates or franchises its hotels and resorts under
three well-established brand names: Renaissance is a quality international brand
for business and leisure travelers; New World is a quality hotel brand in Asia
and the Pacific region; and, Ramada International is a mid-priced lodging brand
outside of the United States and Canada. Renaissance Hotel Group also master
licenses the Ramada name in the United States and Canada to others under
long-term agreements. The company does not have any significant owned real
estate.
Of the 30,100,000 Renaissance Hotel Group common stock shares outstanding at the
time of Marriot's tender offer, 30,068,599 shares were tendered, including
186,600 shares tendered pursuant to notices of guaranteed delivery. By the
tender offer deadline of 12:01 a.m. March 29, 1997, 31,401 shares had not yet
been tendered.
MARRIOTT INTERNATIONAL, INC., is the world's leading hospitality company, with
approximately 4,700 operating units in the United States and 30 other countries
and territories. Major businesses include hotels operated and franchised under
the Marriott, Ritz-Carlton, Courtyard, Fairfield Inn, Residence Inn, TownePlace
Suites, and Executive Residences brands; vacation ownership resorts; food
service and facilities management for clients in business, education and health
care; senior living communities and services; and food service distribution.
The company is headquartered in Washington, D.C. and has approximately 192,000
employees. For the 1996 fiscal year, the company reported total sales of
$10.2 billion.
SOURCE Marriott International
03/31/97 /CONTACT: Tom Marder of Marriott International, 301-380-2553/
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SIGNATURES
PURSUANT TO THE REQUIREMENTS OF THE SECURITIES EXCHANGE ACT OF 1934,
THE REGISTRANT HAS DULY CAUSED THIS REPORT TO BE SIGNED ON ITS BEHALF BY THE
UNDERSIGNED, THEREUNTO DULY AUTHORIZED.
RENAISSANCE HOTEL GROUP N.V.
By: /s/ William J. Shaw
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William J. Shaw
Chairman of the Board
Date: April 4, 1997
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