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Old Apr 7, 2019, 10:48 am
  #15  
hockeyinsider
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Join Date: Jun 2005
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Originally Posted by TerryK
What was Allegis? Learned something new.
Allegis owned Westin and United, back in the day:
Allegis Corp., the parent company of United Airlines, said Tuesday that it will sell its Westin Hotels subsidiary for $1.53 billion, essentially completing the major restructuring of the company announced in June.

The 62-hotel worldwide chain is being bought by the Robert M. Bass Group of Fort Worth and Aoki Corp. of Japan, supported by the Industrial Bank of Japan. Of the purchase price, Allegis said, $1.35 billion will be in cash and approximately $180 million of Westin debt will be assumed by the purchasers.

...

Westin Hotels & Resorts, founded in 1930 by six hotel operators who formed Western Hotels to manage 17 in the Pacific Northwest, was bought by UAL Inc., which Allegis was then called, in 1970. Based in Seattle, it owns some of its hotels and manages others, but the company will not give a breakdown.

...


When it announced its restructuring, Allegis said it planned to dispose of its Hertz car rental business, which it had owned since 1985, and the Hilton International hotel chain, which it had owned for just a few months. It also said it would change its name to United Airlines Inc.

https://www.latimes.com/archives/la-...377-story.html
In a sweeping reversal of its strategy, the Allegis Corporation announced last night that it had replaced its chairman and intended to sell the company's rental car and hotel subsidiaries.

After a special board meeting in New York, the company said Richard J. Ferris had resigned as chairman and president of the diversified company, which owns United Airlines. The development represented a dramatic rejection of Mr. Ferris's plan to build Allegis, formerly UAL Inc., into a company that would serve all the needs of travelers.

In a statement, the board indicated that United Airlines, the one unit it plans to retain after selling its Hertz rental car operation and Westin and Hilton International hotels, could end up under the control of the carrier's employees.

...

But for the 50-year-old Mr. Ferris, who became chairman of United in 1978 and of the holding company in 1982, yesterday's events were the shattering of a dream that he had pursued for over a decade, notably with the acquisition of Hertz in 1985 and Hilton International this year. He wanted to build a company where a traveler could fly, rent a car and get a hotel room, all under one corporate roof.

While the concept sounded good in theory, in practice it failed to produce the profits and the large savings that Mr. Ferris hoped to realize.

https://www.nytimes.com/1987/06/10/b...nd-hotels.html
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