Chinese company buys Carlson Hotels
The tourism business unit of Chinese conglomerate HNA Group has agreed to acquire in full Carlson Hotels, along with its 51.3% majority stake in overseas licensee Rezidor Hotel Group AB.
Minneapolis-based Carlson operates around 1,400 hotels globally under the Quorvus Collection, Radisson, Park Plaza, Park Inn and Country Inns & Suites brands.
The purchase price agreed by HNA Tourism Group has not been disclosed and the deal is set to complete in the second half of 2016, subject to regulatory approvals.
Bloomberg reports the deal could be worth about $2 billion.
"Carlson Hotels own a powerful set of global brands and this historic agreement provides tremendous opportunities for growth," said a statement from David P. Berg, Carlson Hospitality Group CEO.
"We look forward to working within HNA Tourism Group, a greatly respected global enterprise, in what will be an exciting new chapter in the history of Carlson Hotels. As part of HNA Tourism Group, Carlson Hotels will have an opportunity to advance our commitment to providing guests with hospitality worldwide."
HNA already has major stakes in Red Lion Hotels and Spanish company NH Hotels, and has a portfolio of several Chinese carriers including Hainan Airlines.
It also recently acquired ground handler Swissport International for more than $2 billion, and agreed to buy a stake in Brazilian airline Azul.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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