Cinerama Hotels is a combination of words that must have made sense at one pont. The Reef was sold to the Cinerama movie company in 1969, and presumably Cinerama was aware of the deal, and it wasn't forced upon them at gunpoint.

"Say, why are we buying hotels? We're a company that makes very wide motion-picture films."

"Shut up and get on board, pal. It's the age of conglomerates."

As it turns out, the expensive movie-showing process did not survive - but the theater chain did.