04-30-2016, 07:41 AM
The Carlson family's long run in the hotel industry appears to be heading toward an end as on late Wednesday it was announced that HNA Tourism Group Co., Beijing, has entered into an agreement to acquire the Carlson Hospitality Group, Minnetonka, Minnesota, for an undisclosed sum. It was previously reported that Carlson could sell for about US$2 billion. The deal, expected to close in the second half of 2016, includes the acquisition of Carlson Hotels Inc., which owns the Quorvus Collection, Radisson Blu, Radisson, Radisson Red, Park Plaza, Park Inn by Radisson, Country Inns & Suites By Carlson brands and the Club Carlson global hotel rewards program. "The great news is the legacy of brands will continue," Carlson Hospitality Group CEO David Berg told HOTELS on Thursday. "Radisson and Country Inns & Suites, particularly in the Americas, have significant runways ahead and maybe there will be opportunities as Starwood-Marriott shakes with properties becoming available that are interesting for those brands. Also, the millennial-minded traveler is moving toward upscale select-service model and Red is a unique opportunity that we are excited to have capital to accelerate its growth, as well."