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 Collection brands.

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 Berg.

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 Radisson Blu.

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.
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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.

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