Just weeks after China’a Anbang Insurance Group bowed out of its bid for the Starwood Hotel brand, another Chinese hotel group has gobbled up a different group: Carlson Hotels, the operator of the Radisson chain.
Carlson announced Wednesday that it had finalized a deal to sell itself to HNA Group, a division of HNA Group Co.
Under the agreement, for which a purchase price was not disclosed, the companies say they will be able to more rapidly expand their respective chains.
“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,” David P. Berg, Carlson Hospitality Group chief executive officer, said in a statement. “As part of HNA Tourism Group, Carlson Hotels will have an opportunity to advance our commitment to providing guests with hospitality world-wide.”
Carlson currently operates 1,400 hotels in 115 countries and employs about 90,000 people.
The Carlson deal, which is subject to regulatory approvals, is expected to close in the second half of 2016.
by Ashlee Kieler via Consumerist