Cendant Corporation was created on December 17, 1997, through a $14 billion “merger of equals” between two major companies: [1, 2, 3]
- HFS Incorporated: Led by Henry Silverman, this franchise giant operated major hotel, car rental, and real estate brands.
- CUC International: Founded by Walter Forbes, this direct marketing and membership services firm operated discount programs. [1, 2, 3, 4, 5]
Following the merger, the combined entity took on the name Cendant Corporation.