 In August 1983, Blakeley sold The Ritz-Carlton Boston and the US trademark for $75.5 million to William B. Johnson, a major Waffle House franchisee who was once the largest owner.He assembled a four-person development team in Atlanta, headed by hotelier Horst Schulze, to create the Ritz-Carlton hotel brand and established The Ritz-Carlton Hotel Company in its current form.In 1988, Johnson subsequently obtained the exclusive rights to The Ritz-Carlton brand name throughout the world except for the Hôtel Ritz Paris, The Ritz-Carlton, Chicago, and the Ritz-Carlton Montreal.