Chartwell Leisure was an American hotel company. It was formed in 1994 as National Gaming, a spin-off of the gaming businesses of Hospitality Franchise Systems (HFS). [1] A year later, after finding little success, the company said it was leaving the casino industry, and would seek to acquire a business in a less risky field. [2]
A hotel is an establishment that provides paid lodging on a short-term basis. Facilities provided may range from a modest-quality mattress in a small room to large suites with bigger, higher-quality beds, a dresser, a refrigerator and other kitchen facilities, upholstered chairs, a flat screen television, and en-suite bathrooms. Small, lower-priced hotels may offer only the most basic guest services and facilities. Larger, higher-priced hotels may provide additional guest facilities such as a swimming pool, business centre, childcare, conference and event facilities, tennis or basketball courts, gymnasium, restaurants, day spa, and social function services. Hotel rooms are usually numbered to allow guests to identify their room. Some boutique, high-end hotels have custom decorated rooms. Some hotels offer meals as part of a room and board arrangement. In the United Kingdom, a hotel is required by law to serve food and drinks to all guests within certain stated hours. In Japan, capsule hotels provide a tiny room suitable only for sleeping and shared bathroom facilities.
Gambling is the wagering of money or something of value on an event with an uncertain outcome, with the primary intent of winning money or material goods. Gambling thus requires three elements be present: consideration, risk (chance), and a prize. The outcome of the wager is often immediate, such as a single roll of dice, a spin of a roulette wheel, or a horse crossing the finish line, but longer time frames are also common, allowing wagers on the outcome of a future sports contest or even an entire sports season.
In January 1996, the company changed its name to National Lodging, and paid $98 million to buy 16 Travelodge hotels and joint venture interests in 96 more from Forte, as part of a deal that also saw HFS acquire the Travelodge trademark and franchise operation. [3] In August, the company was renamed Chartwell Leisure after taking a $57 million investment from groups affiliated with the Fisher family, the Gordon Getty family, and the de Gunzburg family, giving them a total 52 percent stake in the firm. [4]
Travelodge refers to several hotel chains around the world. Current operations include: the United States, Canada, the United Kingdom, Spain, Ireland, New Zealand, Australia and Asia. However, many of these are operated by independent companies who have no connection with the brand in other countries.
Forte Group plc was a British hotel and restaurant company. It was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index until it was acquired by Granada plc. Its head office was in the London Borough of Camden.
Fisher Brothers is a real estate firm in New York City. It was formed by Martin Fisher in 1915, soon joined by his brothers Larry, and Zachary. The Fisher family has substantial real estate holdings in New York City and elsewhere and are considered one of the "royal families" of New York real estate, alongside such clans as the Dursts, Roses, Rudins, and Tishmans. The family's fortune was estimated at $800 million in 1988.
In March 1998, the company was acquired by a partnership of Whitehall Street Real Estate (a Goldman Sachs affiliate) and Westmont Hospitality Group for $349 million, including $77 million in assumed debt. [5] Westmont received a minority share, and took over operations of the company's 124 properties, under the new name WW Leisure.
The Goldman Sachs Group, Inc., is an American multinational investment bank and financial services company headquartered in New York City. It offers services in investment management, securities, asset management, prime brokerage, and securities underwriting.
Westmont Hospitality Group is a company nominally based in Mississauga, Ontario, Canada which owns and manages hotels. It was founded by the Mangalji family. It is one of the biggest hospitality management companies. It currently is managed by Majid Mangalji. The total revenue for this company is $700 million.
