Choice Hotels to acquire Radisson Hotel Group Americas

Business, operations and intellectual property of the company operating in North, Central, and South America will be transferred to Choice Hotels International, this way the group adding another 68.000 rooms to its already impressive portfolio covering both leisure and business travel markets.

“We have a mergers and acquisition group that’s out looking. If you look at our portfolio, it’d be nice to have an upper-upscale, full-service brand, potentially,” declared Mark Shalala, senior vice president of development at Choice Hotels.

Radisson Hotel Group Americas includes 624 hotels that will soon be owned and operated by Choice in order “to drive the growth, continuity and success of the brands.”

“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”, commented Patrick Pacious, president and CEO of Choice Hotels.

As a part of the long-term business strategy, Radisson Hotel Group also extended its collaboration with PPHE Hotel Group last month, in order to boost hospitality operations in Europe, the Middle East and Africa, by launching several high-end art’otels and prizeotels across the targeted markets, while planning to close at least 45 new deals over the following five years.

As announced by the representatives of the two companies, the latest agreement between Choice Hotels International and Radisson Hotel Group Americas is expected to close in the second half of 2022, for $675 million.

 

Source: skift.com