It seemed like a minor deal in 1962 when Milton Fine, a Pittsburgh lawyer, and a partner invested in a motel near the entrance to Presque Isle State Park in Erie, Pa. Then the manager of the 41-unit Capri Motel died, leaving Mr. Fine and his partner, Edward A. Perlow, to run the business.
The two lawyers soon discovered they liked owning and running motels. They started buying Howard Johnson motels in Pennsylvania and later diversified into Marriott International brands. Their Interstate Hotels Corp., controlled by Mr. Fine...
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