Radisson Hotel Group is selling its Americas business to US-based Choice Hotels in a $675 million deal.
Choice will add Radisson Hotel Group Americas’ nine brands encompassing 624 hotels and more than 68,000 rooms in the Americas region to its existing portfolio, which includes 7,000 hotels and 600,000 rooms in 35 countries.
The deal will allow Radisson to continue growing its presence in the EMEA (Europe, Middle East and Africa) and APAC (Asia Pacific) regions with the aim of doubling its presence by 2025.
Federico Gonzalez, CEO of Radisson Hotel Group, said, “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.
“Together with Choice, we will work to ensure that customers continue to experience the highest levels of service and a superior brand experience.”
Radisson Hotel Group Americas includes 10 Radisson Blu hotels, 130 Radisson properties, 453 Country Inn & Suites by Radisson, and 17 Park Inn by Radisson hotels.
Patrick Pacious, president and CEO of Choice Hotels, added: “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.”
The acquisition has been unanimously approved by Choice Hotels’ board of directors and is expected to close in the second half of 2022.