Carlson has acquired the shares needed to become the majority stakeholder in Rezidor Hotel Group, the company that holds franchise rights to Carlson’s hotel brands in Europe, the Middle East and Africa.
Carlson now owns 50.1% of Rezidor, up from 44.4%.
"We see great value-creation potential in Rezidor, and believe that both companies will benefit from continued collaboration on global brand strategies, enhanced customer offerings, revenue generation and consistent global growth," said Carlson CEO Hubert Joly.
Carlson's relationship with Rezidor dates to 1994, when the companies signed a master franchise agreement for the Radisson brand in Europe, the Middle East and Africa.
Subsequent agreements expanded Rezidor's franchise rights to include Country Inns & Suites by Carlson, Park Inn and Regent. Carlson acquired 25% ownership in Rezidor in 2005, and increased ownership to 35% in 2006, 41.7% in 2007 and 44.4% in 2009.
Rezidor, a company listed on the Stockholm Stock Exchange, has 390 hotels in its portfolio.