HNA must decide whether to launch a mandatory public tender offer for the remaining shares in Rezidor or sell down its ownership to below 30 percent, the companies added. “They recognize that Carlson’s hotel divisions haven’t grown in the way they have hoped”, said Kirby Payne, president of HVS Hotel Management, referring to the Carlson family.
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Carlson Hospitality Group, Inc. operates 1,400 hotels in 115 countries with roughly 90,000 hotel employees, according to the company.
China’s HNA Tourism Group has agreed to buy Carlson Hotels, the owner of the Radisson hotel chain, the companies said late Wednesday.
Carlson’s hotel group could fetch about $2 billion in a sale, people with knowledge of the matter said in March. With the acquisition, CEO David Berg will carry on with his post at the hotel chain. “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”.
Besides Radisson, Radisson Blu and Radisson Red, the company owns the Quorvus Collection, Park Inn by Radisson, Country Inns & Suites by Carlson and the Club Carlson frequent-guest program.
In January that parent company Carlson was exploring alternatives for the hotel business.
It’s not the only big Chinese hotel deal under way at the moment.
HNA Tourism’s CEO Bai Haibo said that the deal will help “establish our presence in the US market and expand our footprint in hospitality internationally”. The total value of China’s foreign acquisition crossed $1 trillion dollars for the first time previous year.
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HNA is best known as a parent of Hainan Airlines but it also has interests in tourism, hotels, financial services and real estate. A joint statement from both the companies, highlight how the Chinese firms continue with their overseas investment spree.
