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About Prime Hospitality
Prime Hospitality is a former American hospitality company that was founded in 1989 and headquartered in Fairfield, New Jersey. The company focused on managing, owning, and franchising hotels under various brands. During its existence, Prime Hospitality operated two main divisions: the Prime Hotels division and the Prime Resorts division. The Prime Hotels division primarily focused on full-service hotels, operating brands such as the AmeriSuites, Wellesley Inns & Suites, and Summit Hotels & Resorts. The division managed and operated hotels across various locations in the United States, including major cities and popular tourist destinations. The Prime Resorts division, on the other hand, specialized in the operation and management of vacation ownership properties, commonly referred to as timeshare resorts. The division’s portfolio included resorts in sought-after destinations, offering a range of amenities and services to leisure travelers seeking extended stays. Throughout its history, Prime Hospitality sustained growth through a combination of acquisitions and partnerships. It expanded its presence through strategic alliances with reputable hotel brands and operators, maintaining a diverse portfolio that catered to a wide range of travelers. In 1994, Prime Hospitality became a publicly traded company on the New York Stock Exchange under the ticker symbol “PDQ.” The company consistently sought opportunities for expansion and innovation within the hospitality industry. However, following various economic challenges and in an effort to focus on core business operations, Prime Hospitality underwent a significant restructuring process. In 1999, Prime Hospitality sold its Wellesley Inns & Suites brand to concentrate on its core brands. Eventually, in 2001, the company decided to divest itself of its hotel operations entirely and entered into a merger agreement with another prominent hospitality company. Today, Prime Hospitality no longer operates as an independent entity. However, its legacy and contributions to the hospitality industry remain notable.
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