Choice Hotels has acquired the Americas-based business of the Radisson Hotel Group for $675m (€641m).
The deal – which covers the franchise business, operations and intellectual property of Radisson Hotel Group Americas – adds nine brands, 624 hotels and more than 68,000 rooms to Choice’s portfolio in the Americas.
Outside of the Americas, Radisson will continue to manage its own-labelled hotels across Europe, the Middle East and Africa, and in the Asia-Pacific region. It said it aims to double its hotels portfolio across these regions by 2025.
“Choice has a well-established history of smart acquisitions in new segments where our world-class franchising engine can spur future growth. This transaction brings together two highly complementary businesses, enhancing our guest offerings in the core upper-midscale hospitality segments, while extending our reach into the upper upscale and upscale full-service segments and in higher revenue geographic markets,” said Choice Hotels president and chief executive Patrick Pacious.
“We are confident that Choice Hotels is the owner with the right long-term strategy, resources and management team to successfully accelerate the growth of the Radisson business in the Americas. Radisson Hotel Group will continue to leverage the strength of operational excellence to set our business in EMEA and APAC on a significant growth path with the aim of doubling the portfolio in those markets by 2025,” said Radisson Hotel Group chief executive Federico J. González.
