Press Release: Coldwell Banker Commercial
November 29, 2000
PARSIPPANY, NJ -- Coldwell Banker Commercial®, an industry leader in providing commercial real estate solutions,
announced today that the newly formed Coldwell Banker Commercial Hospitality Group will provide commercial real
estate services for property acquisitions and property dispositions to Cendant-affiliated franchisees.
The Coldwell Banker Commercial Hospitality Group enables Cendant hotel franchisees to benefit from the knowledge
and experience of an elite team of hospitality brokers associated with several independently owned and operated
franchise offices which make up part of the 400+ Coldwell Banker Commercial offices throughout the United States.
The creation of the Hospitality Group is a result of Coldwell Banker Commercial's remarkable growth. From 1998
to 1999, the company doubled the number of transactions handled. In 2000, Coldwell Banker Commercial expects the
number of transactions handled to increase by 60 percent. ``Coldwell Banker Commercial's extensive market coverage
enhances the synergies of Cendant and provides a connection between its Real Estate and Hospitality divisions,''
said Jerry D. Anderson. ``The end result is increased value-added services to our hotel group and real estate franchisees.''
Eric Pfeffer, Cendant Hotel Division chairman & chief executive officer, said development of the Coldwell Banker
Commercial Hospitality Group will ``help us provide the most comprehensive, individualized service to our franchisees.''
The Hospitality Group enables Cendant's hotel brands to benefit from the market coverage of the more than 400 Coldwell
Banker Commercial affiliates that are expected to handle about $6 billion in commercial real estate business in
2000. Cendant is the world's largest lodging franchiser with more than 6,400 hotels on five continents, operated
by approximately 5,000 franchisees. Cendant's franchised domestic hotels serve more than 90 million customers who
book more than 110 million room nights annually. One in six hotel guests, or more than 16 percent of the U.S. market,
stay in Cendant-franchised hotels.
Coldwell Banker Commercial affiliates, with more than 400 offices worldwide, serve the needs of a diverse mix of
tenants, landlords, sellers and buyers in the leasing, acquisition, disposition, and management of all commercial
real estate property types.
Coldwell Banker Real Estate Corporation (COLDWELL BANKER) has more than 3,000 independently owned and operated
real estate offices, with more than 70,000 sales associates throughout North America, Europe, the Middle East,
the Caribbean, China, Singapore, and Central America. For more than 90 years, Coldwell Banker has been the country's
premier full-service provider of real estate services. For further information, visit the company's Web site at
http://www.coldwellbankercommercial.com, or contact its Parsippany
headquarters at 800-222-2162.
SOURCE: Coldwell Banker Commercial