Carlson, Rezidor Sell Luxury Regent Hotel Brand To Taiwanese Firm

Carlson and the Rezidor Hotel Group this week completed the sale of the luxury Regent hotel brand to Formosa International Hotels Corp.

The companies in April announced the master purchase agreement for the brand, which currently consists of seven hotels, largely in Asia and Europe. The deal gives Taipei-based FIHC control of the brand, the management and lease contracts for existing hotels and those under development and the license for Regent Seven Seas Cruises.

Carlson president and CEO Hubert Joly said upon the initial agreement announcement that the sale would allow Carlson to focus on its core brands, particularly Radisson, Country Inns & Suites and Park Inn.

FIHC owns the 538-room Grand Formosa Regent Taipei and operates the SILKS lifestyle hotel brand in China. The company plans to develop new mixed-use Regent properties in such gateway cities as New York, London, Paris, Hong Kong, Tokyo and Shanghai.

Full financial details of the transaction were not disclosed, though Rezidor reported its share was €9.5 million.