Chinese company HNA Tourism Group will buy Carlson Hotels,
the companies announced on Wednesday. The companies did not disclose the price
of the sale.
Under the terms of the agreement, Beijing-based HNA will
acquire all of Carlson Hotels, including its 51 percent majority stake in
Rezidor Hotel Group. The union of the two companies "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," the companies said in a joint statement.
Privately held Carlson Hotels is part of Carlson Rezidor
Hotel Group, which owns such brands as Country Inns & Suites, Park Plaza
and Park Inn, Quorvus Collection and the Radisson family of brands. Its
portfolio is comprised of more than 1,400 hotels in 115 countries and
territories. Carlson Wagonlit Travel is not part of the deal.
HNA indicated it intends to keep Carlson Hotels'
headquarters in Minnetonka, Minn. The transaction is expected to close in the
second half of 2016, and Carlson Hospitality Group CEO David Berg will continue
to serve as CEO of the new organization.
The HNA-Carlson deal comes on the heels of a joint-venture
agreement inked in March between HNA Hospitality, a subsidiary of HNA Tourism,
and NH Hotels Group of Spain to develop 120 to 150 hotels in China by 2020. HNA
in 2015 also acquired a 15 percent stake in Red Lion Hotels. According to its
website, HNA Hospitality owns and manages more than 450 hotels, and the HNA
parent company is engaged in a number of areas, including aviation, tourism,
finance and online services.