HNA Tourism Group, a branch of the Chinese conglomerate HNA Group, has struck a deal to acquire Carlson Hotels—which owns brands the Quorvus Collection, Radisson Blu, Radisson, Radisson Red, Park Plaza, Park Inn by Radisson, and Country Inn & Suites—from Carlson Hospitality Group.
HNA will obtain the brand in its entirety, including nearly 51.3 percent majority stake in Rezidor Hotel Group AB, Carlson’s master licensee in Belgium. Rezidor is publicly listed in Stockholm, and operates more than 1,400 hotels around the world. Under Swedish takeover rules, HNA must offer a mandatory public tender deal for the remaining 48 percent of Rezidor, as the deal will result an indirect leadership change. Although it is still awaiting regulatory approval, the deal is expected to close within the second half of the year.
“Hospitality is in our hearts, which made this a difficult decision. We strongly believe that selling our hotel business to HNA Tourism Group, a company that fully recognizes its value and heritage, is the best way for us to position it for success and to be true to my grandfather’s legacy in the long term,” says Carlson’s board chair Diana Nelson.
“Carlson Hotels’ global success and strong, sustainable growth potential is a testament to their world-class brands, continuous innovation, excellent management and unique employee-focused culture, all of which we will build upon as part of this combination to establish our presence in the U.S. market and expand our footprint in hospitality internationally,” says Bai Haibo, chairman and CEO of HNA Tourism Group.
David P. Berg will continue as CEO of Carlson Hospitality Group, and the company’s headquarters will remain in Minnetonka, Minnesota.
