Hampton Inns were originally owned by Promus Hotel Corporation, a Memphis, TN holding company that also owned Embassy Suites Hotels and Doubletree Hotels. In 1999, Promus Hotels was acquired by Hilton for $3.7 billion.
Promus Hotel Corporation's beginnings are tied to the original Holiday Inn company in Memphis, Tennessee. By 1974 Holiday Inn had diversified into several businesses that included a meat processing company, furniture processing, and a bus line. In 1974 Holiday Inn began to refocus on its core business and sell off most of these non-core businesses. In 1990 Holiday Inn spun off the Promus Companies and then in 1995 the Promus Companies spun off Promus Hotel Corporation.