HNA agrees takeover deal for Carlson Hotels

Tuesday, 28 Apr, 2016 0

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 about 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," a statement from David P. Berg, Carlson Hospitality Group CEO said.

"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 is already a huge name in the airline, travel and hotel business.

It 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.

TravelMole Editorial Team

Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.