Choice Hotels Canada joint ventureChoice Hotels...

BUSINESS DIGEST

April 22, 1993

Choice Hotels Canada joint venture

Choice Hotels International of Silver Spring and Journey's End Corp., Canada's largest lodging management company, said yesterday that they would combine their Canadian operations in a joint venture.

The companies said they want the venture, to be named Choice Hotels Canada Inc., to have 400 properties by 1998. Journey's End will contribute 120 properties to the venture, while Choice Hotels will add 54. Choice Hotels is the worldwide franchiser of Clarion, Comfort, Econo Lodge, Friendship, Quality, Rodeway, and Sleep Inns.

Dollar slips to new low against yen

The dollar slipped to an all-time low against the Japanese yen in Tokyo yesterday, but managed to claw its way out of its latest pit to end higher in New York.

Repeated Bank of Japan intervention helped lift the dollar off its new 109.90 yen bottom. The dollar finished at 110.35 yen in Tokyo, slightly above its 110.25 yen close Tuesday. In New York, the dollar closed at 110.80 yen, up from 110.55 yen late Tuesday.

$25 million Rouse bond buyback

The Rouse Co. bought back $25 million of its bonds from the Trizec investment group, which consists of companies controlled the Bronfman family of Canada.

Rouse, a Columbia-based real estate developer, paid $24.75 million on April 14 to repurchase the bonds, according to a filing with the Securities and Exchange Commission. Trizec now holds a 5.2 percent stake in Rouse, including $60 million of the bonds, which are convertible into a total of 2.09 million shares of Rouse stock.

3 in 1 from Borland, WordPerfect

Responding to demands from business users, Borland International Inc. and WordPerfect Corp. announced a three-in-one word processing, spreadsheet and data base software package.

The program, unveiled yesterday, is designed for personal computers that can run Microsoft Corp.'s Windows operating system and is intended to compete with software also produced by Microsoft.

F&E to buy partners' stock

F&E Resource Systems Technology Inc., a Baltimore-based owner and operator of recycling and composting facilities, said it agreed to purchase the stock of Baltimore Compost I Corp. and Baltimore Compost II Corp..

The two corporations are subsidiaries of Chrysler Capital Corp. and holders of limited partner interests in FERST's Baltimore recycling and composting facility. The deal is expected to close before Sept. 1.

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