ATLANTA -- Holiday Inn Worldwide said Wednesday it will move its North American regional office to Atlanta from Memphis over the next 12 months.
The announcement follows months of rumors that Britian's Bass PLC, which purchased the hotel chain last year, would leave Memphis, where the company was founded 40 years ago.
Bass has laid off 457 Memphis employees and moved Holiday Inn's worldwide headquarters and about 150 key executives to Atlanta.
'After a comprehensive review of our business, we came to the conclusion that we must restructure the company and have our employees together under one roof to create a dynamic new organization, with a global orientation, to spearhead our growth through the nineties and into the 21st century,' said Bryan D. Langton, chairman and chief executive officer, Holiday Inn Worldwide.
Langton said Holiday Inn Worldwide chose Atlanta because the company required an international city 'to build our brand worldwide and to meet the needs of the global marketplace. We need the resources and the infrastructure that Atlanta provides -- an international transportation center, an international financial and media center, and an established international business community.'
Langton said details of the corporate restructuring will be announced April 30.
