BEIJING AND MINNEAPOLIS, MN — HNA Tourism Group Co. and Carlson Hospitality Group have entered into an agreement for the acquisition of Carlson Hotels, which owns Quorvus Collection, Radisson Blue, Radisson, Radisson RED, Park Plaza, Park Inn by Radisson, Country Inns & Suites by Carlson brands and the Club Carlson Global hotel rewards program, it was announced in late April.
“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 out footprint in hospitality internationally,” said Haibo Bai, HNA Tourism board member and HNA Hospitality Group chairman and CEO, in a release.
The combination of HNA Tourism Group and Carlson Hotels will have increased ability to accelerate growth through investments in areas such as digital, owned assets in major gateway cities, building of Radisson RED and other new brands.
Under terms of the agreement, HNA tourism will acquire all of Carlson Hotels, including its approximately 51.3 per cent majority stake in Rezidor Hotel Group AB, Carlson Hotel’s master licensee based in Brussels.
Since the closing of the transaction will result in an indirect change of control in Rezidor, HNA Tourism Group would, under Swedish takeover rules, be obliged to launch a mandatory public tender offer for the remaining approximately 49 per cent of Rezidor, within four weeks after the closing of the transaction if the ownership in Rezidor in not sold down below 30 per cent.