MAI Systems Plans Separate Unit for Hotels and Resorts
IRVINE — Information management software maker MAI Systems Corp. said Wednesday it plans to split off its hotel and resort systems unit, and will delay filing of its annual report for several weeks as it pursues the reorganization.
The company also said it expected to post fourth-quarter and annual losses for 1997 that are substantially lower than the losses it reported a year earlier. The company lost $25.2 million in the fourth quarter of 1996, and reported a loss of $13.5 million for the full year.
MAI said it wants to separate its hotel and resort industry software business from its manufacturing industry business and will set up an independent corporation to be called Hotel Information Systems Inc. The new company might be established as a publicly traded firm, MAI said.
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