Beijing-based HNA Tourism Group
said Wednesday that it reached an agreement to acquire Radisson parent Carlson
Hospitality Group for a price that wasn’t disclosed.
Carlson Hospitality Group, a
division of Minnesota-based travel giant Carlson, oversees more than 1,100
hotels under the Radisson, Radisson Blu, Park Plaza, Country Inns and Quorvus
With the buyout, HNA will also be acquiring a 51% stake in
Rezidor Hotel Group and, under Swedish regulations, will be required to make an
offer for the rest of the company within four weeks of the closing of the
Carlson Hospitality acquisition.
“As part of HNA Tourism Group,
Carlson Hotels will have an opportunity to advance our commitment to providing
guests with hospitality world-wide,” said Carlson Hospitality Group CEO David
Carlson, which also owns travel management firm
Carlson Wagonlit Travel, has been in the hotel industry
since 1960, when it acquired a 50% stake in the Radisson hotel in downtown
Minneapolis (the first Radisson ever built, in 1909). That hotel is now a
Carlson was split into travel and
hospitality divisions after last year’s retirement of CEO Trudy Rautio. David
Berg is the CEO of Carlson Hospitality Group, and
Kurt Ekert is the
CEO of Carlson Wagonlit Travel.
Earlier this year, the Wall Street
Journal reported that Carlson was exploring a possible sale of its hotel
division, though Carlson declined to comment to Travel Weekly at the time.
The acquisition, which was
unanimously approved by Carlson’s board of directors, is slated to close by the
end of the year.
Beijing-based HNA Tourism owns
Tangia Hotels and Resorts and Capital Airlines, and is the majority owner of
Red Lion Hotels and NH Hotels.
Correction: Kurt Ekert is Carlson Wagonlit Travel's CEO. A previous version of this report said that Douglas Anderson is CEO, but he has left the company.