HNA Tourism Group Agrees to Purchase Carlson Hotels

The deal was made public on Wednesday, but the purchase price remains undisclosed. The acquisition will also see the Chinese conglomerate take a majority share in Rezidor Hotel Group.

It was announced earlier this week that HNA Tourism Group has settled on a deal that will see it acquire Carlson Hotels, the company that owns the Radisson chain of hotels and its associated global brands.

While the deal was made public in a joint statement late on Wednesday, the purchase price has not been disclosed. HNA Tourism Group is itself the formidable shipping and tourism unit within Chinese conglomerate HNA Group.

This agreement will also see HNA Tourism Group acquire a 51.3 percent majority stake in the Rezidor Hotel Group, which has over 1,300 properties around the globe.

This purchase, some say, is part of a recent trend that has seen a number of Chinese firms buying up global hotel and hospitality brands. For example, 2015 saw conglomerate Fosun purchase the French Club Med chain of resorts and villas. In 2014, Anbang Insurance bought up New York’s Waldorf Astoria.

Speaking of the acquisition of the chain, Diana Nelson, Carlson Board Chair, said, “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.”

“Hospitality is in our hearts, which made this a difficult decision. We strongly believe that selling our hotel business to HNA Tourism Group, a company that fully recognizes 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,” she added.

Bai Haibo, HNA Tourism Group’s Board Member and HNA Hospitality Group’s Chairman and CEO, said, “We have great respect for the Carlson family and a deep appreciation for its history and special culture. Carlson Hotels’ global success and strong, sustainable growth potential is a testament to their world-class brands, continuous innovation, excellent management, and unique employee-focused culture.”

This acquisition, he believes, is something that will allow HNA Tourism to “establish our presence in the U.S. market and expand our footprint in hospitality internationally.”

[Photo: Carlson Rezidor]