The International Franchise Association's Board of Directors has unanimously voted to induct five leaders into the IFA Hall of Fame to honor their contributions to franchising. Among the new inductees is Thomas "Tom" Monaghan, founder of Ann Arbor, Mich.-based Domino's Pizza.

While he was a student at the University of Michigan, Monaghan founded Domino's in 1960 in the Ann Arbor suburb of Ypsilanti.

He joins four others on this year's list of inductees, including Conrad Hilton, founder of Hilton Hotels, J. Willard Marriott, founder of Marriott International, Anthony "Tony" Martino, founder of MAACO and AAMCO and James Maynard, founder of Golden Corral Corporation.

The Hall of Fame award is presented to an IFA member, past or present, who "exemplifies excellence in franchising and that has also contributed significantly to the advancement of the franchise community," according to a news release. The award was established in 1979.

The awards will be presented to the inductees or their representatives during the IFA Annual Convention in New Orleans Feb. 22-25, 2014.

Read more franchising news.

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