Chinese to buy worldwide hotel group

China’s HNA snaps up Carlson and Rezidor
A fast-expanding tourism conglomerate is buying Carlson Hotels for an undisclosed price. HNA Group has entered into an agreement to acquire Carlson, one of the world’s biggest hotel groups.
HNA’s tourism and hospitality subsidiary HNA Tourism Group will buy all of Carlson Hotels, including its 51.3% stake in Rezidor Hotel Group. The deal is expected to close by the end of this year.
Carlson Hotels’ HQ will stay in Minnesota and chief executive David P Berg will continue in his position. But Diana Nelson, chair of the Carlson board, said that selling the company was a “difficult decision”.
“Since my grandfather, Curt Carlson, founded our company in 1938, our family has run businesses that create opportunity for people and positive change in the world,” she said.
“We strongly believe that selling our hotel business to HNA Tourism Group, a company that fully recognises its value and heritage, is the best way for us to position it for success and to be true to my grandfather’s legacy in the long-term.”
Carlson operates around 1,400 hotels under seven brands: Radisson, Radisson Blu, Radisson Red, Quorvus Collection, Park Plaza, Park Inn by Radisson and Country Inns & Suites.
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