NationMaster - Encyclopedia: Cendant

Cendant Corporation was a New York-based provider of business and consumer services, primarily within the real estate and travel industries. Although the company was based out of New York City, the majority of Cendant's headquarters employees were located in Parsippany-Troy Hills, New Jersey. Image File history File links Download high resolution version (1097x219, 45 KB) This is a logo of an organization, item, or event, and is protected by copyright and/or trademark. ... NY redirects here. ... Nickname: Location in the state of New York Coordinates: Country United States State New York Boroughs The Bronx Brooklyn Manhattan Queens Staten Island Settled 1625 Government - Mayor Michael Bloomberg (R) Area - City 468. ... Parsippany-Troy Hills Township is a Township located in Morris County, New Jersey. ...

The last CEO of Cendant was Henry Silverman.

1 History
- 1.1 Breakup
2 Former Brands
3 See also
4 External links

History

In 1996, Cendant purchased Sierra On-Line and Davidson & Associates for $2.2 billion. However, following the fraud debacle the company encountered in 1998, the entire interactive software branch was sold for $1 billion to Havas Interactive, a subsidiary of Vivendi Universal. This article does not cite any references or sources. ... Davidson & Associates is a software company, famous for creating the Blaster series of educational games. ... 1998 (MCMXCVIII) was a common year starting on Thursday of the Gregorian calendar, and was designated the International Year of the Ocean [1]. // Coated in ice, power and telephone lines sag and often break, resulting in power outages. ... Vivendi Universal (VU) is a French conglomerate active in media and communications with activities in music, television and film, publishing, telecommunications and the Internet. ...

In 1998, Cendant Corporation was accused of fraud after their company's merging of CUC International and HFS Incorporated in 1997. At the time, Vice Chairman E. Kirk Shelton, had inflated the company's revenue by $500 million over a period of three years. When this report was released to the public, the resulting damage to the company due to market value was approximately $14 billion, with the company's stock trading from a high of $41 down to nearly $12. At the time, this fiasco was the largest case of accounting fraud in the country's history. Mr. Shelton is now serving a 10 year prison sentence. 1998 (MCMXCVIII) was a common year starting on Thursday of the Gregorian calendar, and was designated the International Year of the Ocean [1]. // Coated in ice, power and telephone lines sag and often break, resulting in power outages. ... CUC International was originally named Comp-U-Card. ... 1997 (MCMXCVII) was a common year starting on Wednesday of the Gregorian calendar. ...

On September 15, 2004, Cendant purchased the Ramada International Hotels & Resorts unit from Marriott International. At the time, Ramada was primarily a franchised brand of 204 hotels operating in 26 countries and territories. Earlier in 2004, Cendant acquired the trademark rights to the Ramada brand in the United States, where there are 819 franchised properties. It also owns the Canadian rights. [1] September 15 is the 258th day of the year (259th in leap years). ... shelby was here 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... From top to bottom: Original Ramada Inn logo, Ramada Worldwide (Cendant) logo, current 2005 logo, and Ramada International logo. ... Marriott International, Inc. ...

On September 29, 2004, Cendant purchased Orbitz for $1.2 billion. [2] September 29 is the 272nd day of the year (273rd in leap years) in the Gregorian calendar. ... shelby was here 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... Orbitz, Inc. ...

In early 2005, Cendant purchased ebookers for just under £190 million. 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... Ebookers. ...

Breakup

On October 23, 2005, Cendant Corporation announced its decision to split into four separate companies, citing a necessity to diversify in appealing to stockholders and in an attempt to increase the value of the post-split up company. These four categories include "Real Estate, Travel Distribution, Hospitality and Vehicle Rental Companies."[3] October 23 is the 296th day of the year (297th in leap years) in the Gregorian calendar. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... Realogy (NYSE: H) is a real estate services company that owns and franchises several well-known real estate brands. ... Travelport is a new company with a nearly 30-year track record. ... Wyndham Worldwide (NYSE: WYN) is the holding company for Wyndham Hotels & Resorts and other lodging brands. ... Avis Budget Group NYSE: CAR, was founded in 2006 as the successor company to Cendant Corporation. ...

Cendant originally decided to spin off its Travel Distribution division as a separate company called Travelport, but on June 30, 2006, Cendant announced the sale of Travelport to an affiliate of the privately held Blackstone Group for $4.3 Billion. This sale closed on August 23, 2006. Travelport is a new company with a nearly 30-year track record. ... June 30 is the 181st day of the year (182nd in leap years) in the Gregorian calendar, with 184 days remaining. ... For the Manfred Mann album, see 2006 (album). ... Blackstone Group L.P. is a prominent private equity and investment management firm founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman. ... August 23 is the 235th day of the year in the Gregorian calendar (236th in leap years), with 130 days remaining. ... For the Manfred Mann album, see 2006 (album). ...

During the fall of 2005 Progeny Marketing Innovations and Trilegiant were sold to Apollo. They changed their name in January of 2006 to Affinion Group. 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ...

On July 31 of 2006, both the Cendant Real Estate division as well as the Cendant Hospitality division were spun-off and became separate companies under the names Realogy and Wyndham Worldwide, respectively. July 31 is the 212th day (213th in leap years) of the year in the Gregorian calendar, with 153 days remaining. ... For the Manfred Mann album, see 2006 (album). ... Realogy (NYSE: H) is a real estate services company that owns and franchises several well-known real estate brands. ... Wyndham Worldwide (NYSE: WYN) is the holding company for Wyndham Hotels & Resorts and other lodging brands. ...

The Cendant Car Rental Group, which owns Avis, Budget Rent A Car and Budget Truck Rental rental companies, became the sole remaining company under the Cendant name. Then the company changed its name to Avis Budget Group and the Cendant name has been completely dissolved. Avis Rent A Car System Inc. ... Smart Fortwo rental from Budget Budget Rent a Car is a car rental company that was founded in 1958 in Los Angeles, California by Morris Mirkin. ... Budget Truck Rental is the second largest truck rental company in the continental United States of America with around 2,800 businesses and 32,000 trucks across the country. ... Avis Budget Group NYSE: CAR, was founded in 2006 as the successor company to Cendant Corporation. ...

Former shareholders of Cendant received as a dividend for each share of Cendant common stock held on the dividend distribution date 1/4 share of common stock of Realogy, 1/5 share of common stock of Wyndham Worldwide and the remaining shares were subject to a reverse split resulting in shareholders receiving 1 share of Avis Budget Group for each 10 shares of Cendant previously held.

Former Brands

Automobile Rentals

Cendant owned the rental brands of Avis and Budget, holding these properties in the CCRG (Cendant Car Rental Group). Avis and Budget operate a shared fleet of cars, and have the same "back end" system, but operate at different locations, offer different service levels, and have somewhat different pricing. After the Cendant name was dissolved, the car rental segment became known as Avis Budget Group and currently trades on the New York Stock Exchange under the ticker symbol: CAR. Avis Rent A Car System Inc. ... Smart Fortwo rental from Budget Budget Rent a Car is a car rental company that was founded in 1958 in Los Angeles, California by Morris Mirkin. ... Avis Budget Group NYSE: CAR, was founded in 2006 as the successor company to Cendant Corporation. ... The New York Stock Exchange (NYSE), nicknamed the Big Board, is a New York City-based stock exchange. ...

Hotel franchises

These brands were spun off into Wyndham Worldwide. Wyndham Worldwide (NYSE: WYN) is the holding company for Wyndham Hotels & Resorts and other lodging brands. ...

AmeriHost Inn is a small chain of hotels located in the United States and Canada. ... Days Inn is a hotel chain headquartered in the United States. ... The current logo for Howard Johnsons motor lodges. ... Categories: Possible copyright violations ... From top to bottom: Original Ramada Inn logo, Ramada Worldwide (Cendant) logo, current 2005 logo, and Ramada International logo. ... Super 8 Motels Inc. ... Travelodge refers to several hotel chains around the world. ... Wingate Inn opened their first hotel in July 1996. ... Wyndham Hotels and Resorts is a chain of hotels and resorts located mainly in the United States, but also including locations in Mexico and the Caribbean. ... Baymont Inn & Suites is a hotel franchise owned by Cendant and based in the United States. ...

Real estate franchises

These companies are now under the Realogy banner. Realogy (NYSE: H) is a real estate services company that owns and franchises several well-known real estate brands. ...

Century 21 Real Estate LLC is a real estate agent franchise company now owned by Realogy, which also owns Coldwell Banker and ERA Real Estate. ... Coldwell Banker is a large real estate franchise owned by Cendant, which also owns Century 21 Real Estate and ERA Real Estate. ... Coldwell Banker is a large real estate franchise owned by Cendant, which also owns Century 21 Real Estate and ERA Real Estate. ... ERA Real Estate, founded as Electronic Realty Associates, Inc. ... Sothebyâ€™s International Realty, founded in 1976, is a luxury real estate network that offers a collection of luxury homes, estates and properties for sale throughout the world. ... Corcoran is a surname, from the Gaelic word Corcair, now used to denote purple but formerly meaning ruddy, or of reddish complexion[1], and may refer to a number of different people, places or other entities. ...

External links

Categories: Cendant brands | Companies based in New Jersey | 1996 establishments | 2006 disestablishments | Open Travel Alliance

Results from FactBites:

Cendant may sell travel unit -- OrlandoSentinel.com (0 words)
	Cendant Corp. said it received several offers for its travel business, which includes Orbitz and CheapTickets.com, and may sell the unit rather than spinning it off as part of a planned breakup.
	Cendant had been set to spin off the division to help revive a stock that never recovered from an accounting scandal about nine years ago.
	Cendant shares have fallen 10 percent since the breakup was announced in October.

Cendant (707 words)
	Cendant announced in April of 1998 that it had discovered "accounting irregularities", initially estimated at $115 million, but which later turned out to total $300 million.
	Cendant announced on April 15, 1998 that it had discovered "accounting irregularities" and expected to lower its 1997 earnings, which had originally been reported at $872 million, by $115 million.
	December 1997: Cendant is created from the $11 billion merger of HFS, an owner of hotel chains and real estate brokers, and CUC International, a direct marketing company.

More results at FactBites »

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