
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SUNDAY, April 2, 1995                   TAG: 9504010013
SECTION: BUSINESS                    PAGE: F-1   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

DOUBLETREE HOTELS CORPORATION

THE COMPANY: Doubletree Hotels Corp. is a hotel management company that operates and franchises full-service, all-suite and limited-service hotels owned by individuals, universities, insurance companies and others. In recent years, tt has expanded, issued stock and increased marketing attempting to improve its standing in the upscale hotel market against the Mariott, Hilton, Hyatt and Sheraton chains.

HISTORY: Boston-based Guest Quarters Suites hotel chain acquired Phoenix-based Doubletree chain on Dec. 16, 1993 and applied the Doubletree name to the new company. Richard M. Kelleher, Guest Quarter's chief executive officer, assumed the same position in the new company. Former Doubletree CEO James E. Grier departed to form a real estate investment trust. The original Doubletree company had been a subsidiary of Canadian Pacific Hotels and Resorts Inc. since 1990.

HEADQUARTERS: Phoenix, Ariz.

OPERATIONS: As of Feb. 1, the company operated or franchised 44 Doubletree Hotels (full-service hotels with many amenities), 34 Doubletree Guest Suites (each room includes a living area, kitchenette, bathroom and bedroom), 14 Doubletree Club Hotels (limited-service accommodations) and 12 other hotels in 31 states and the District of Columbia. The hotels contained 26,468 rooms.

EMPLOYEES: Nearly 16,000

STOCK: The publicly traded shareholder company's common stock on the Nasdaq market under the symbol TREE. The stock is listed in the Roanoke Times & World-News under Stocks of Regional Interest The stock has traded in the past 52 weeks at between $14.25 and $22.25 a share, most recently at about $19 a share.

OWNERSHIP: As of September 1994, the latest available report, General Electric Pension Trust, which places investments to benefit GE pensioners held 32.7 percent of the company's stock; Canadian Pacific Ltd., a Montreal-based conglomerate with interests in transportation, energy and real estate, 26.2 percent; public shareholders,17.2 percent; Peter Ueberroth, former Major League Baseball commissioner, and Richard Ferris, former chief executive officer of UAL when it owned United Airlines, 8.1 percent each; Metropolitan Life Insurance Co. of New York, 6.5 percent; Doubletree President and Chief Executive Officer Richard Kelleher, 0.2 percent, and Chief Financial Officer William Perocchi 0.1 percent.

FINANCIAL DATA:

Net sales: (Note: Data for 1991-1993 is for the Guest Quarters Suites hotel chain only. Doubletree was acquired by Guest Quarters in 1994)

1991-$28.6 million

1992-$27.0 million

1993-$35.8 million

1994-$76.6 million

Net income (Note: same as for net sales)

1991-a loss of $6.3 million

1992-$4.4 million

1993-$4.4 million

1994-$12.6 million

Source: The company, staff research

by CNB