Radisson Hotel Group

Last updated
Radisson Hospitality, Inc.
Radisson Hotel Group
FormerlyCarlson Hotels, Inc.
Company type Private
Industry Hospitality
Founded
1962(Carlson's first hotel acquisition) [1]
2012(merger of Carlson and Rezidor hotel groups)
Founders Carlson Companies
SAS AB
Headquarters701 Carlson Parkway,
Minnetonka, Minnesota
,
U.S. [2]
Number of locations
120 countries and territories [3]  (2021)
Area served
Worldwide
Key people
Brands
RevenueIncrease2.svg$7.3 billion [5]
OwnerAplite Holdings AB (a consortium led by Jin Jiang of China) [6]
Number of employees
Over 100,000 [3]  (2021)
Subsidiaries
  • Radisson Hospitality AB
  • Radisson Hospitality Inc.
  • and others
Website radissonhotelgroup.com

Radisson Hospitality, Inc. (trading as Radisson Hotel Group) is an American multi-national hospitality company. It started as a division of Carlson Companies, which owned Radisson Hotels, Country Inns & Suites and other brands. In 1994, Carlson signed a franchise agreement with SAS International Hotels (SIH), after which SIH started to use the brand Radisson SAS in the Europe, Middle East and Africa markets. In 2005, Carlson acquired 25% of the shares of SIH, at that time known as Rezidor SAS Hospitality. In 2010, Rezidor Hotel Group (formerly Rezidor SAS) became a subsidiary of Carlson. The enlarged hotel group adopted a new trading name, Carlson Rezidor Hotel Group, which was one of the top hotel corporations in 2013. [7]

Contents

In 2016, Carlson Companies sold Carlson Rezidor Hotel Group to Chinese conglomerate HNA Group. In the fourth quarter of 2017, Carlson Hotels, Inc. (the holding company of the hotel group) was renamed Radisson Hospitality, Inc., while the listed subsidiary (Rezidor Hotel Group AB) was renamed Radisson Hospitality AB. In 2018, HNA Group re-sold Radisson to a consortium led by a multi-national hospitality company, Jin Jiang International. [6]

As of 2021, Radisson Hotel Group owns or operates nine hotel brands: Radisson Collection, Radisson Blu, Radisson, Radisson Red, Radisson Individuals, Park Plaza, Park Inn by Radisson, Country Inn & Suites by Radisson and prizeotel. The loyalty program is known as Radisson Rewards.

In June 2022, Radisson Hotel Group agreed to sell Radisson Hotels Americas (consisting of the Radisson franchise agreements, operations and intellectual property in the United States, Canada, Latin America and the Caribbean) to Choice Hotels for $675 million. [8] The deal closed on August 11, 2022. [9]

History

Predecessors

Curt Carlson, founder of the namesake company, bought Radisson Hotel in downtown Minneapolis in 1962 [10] [1] : 90  (Radisson Hotel Group claimed it was 1960). [11] 40 years later, the hotel division of Carlson had expanded into one of the top hotel corporations, as of 2013. [7] On top of Radisson Hotels, the division also owned several other brands, such as Park Inn, Park Plaza (acquired in 2000), Country Inns & Suites (founded by Carlson in 1986), etc. The division acquired the brand Regent in 1997, but sold the brand in 2010.

In 1994, the division expanded into Europe, the Middle East and Africa markets (EMEA) by signing a franchise agreement with SAS Group's SAS International Hotels (SIH). SIH would use Carlson's brand Radisson in EMEA. [12] The agreement gave birth of the co-brand Radisson SAS, which became Radisson Blu since 2009. SAS International Hotels, later known as Rezidor SAS Hospitality in 2001 and then Rezidor Hotel Group in 2006, had expanded into a hotel group that consisted of more than 320 hotels as of 2008. [13]

The franchise agreement was renewed in 2002 and again in 2005. The 2002 deal added Park Inn, Regent and Country Inns into the agreement, while in 2005 agreement, Carlson purchased 25% shares of Rezidor SAS from SAS Group. The 2005 franchise agreement would last until year 2052. [14]

Rezidor Hotel Group also had other brands, such as Hotel Missoni, which was licensed from Missoni.

Carlson Rezidor Hotel Group

Logo of Carlson Rezidor Hotel Group Carlson rezidor hotel group logo.jpg
Logo of Carlson Rezidor Hotel Group

Rezidor Hotel Group, formerly Rezidor SAS, became a listed company in 2006. [15] : 380  [16] [17] SAS Group ceased to be the shareholder of Rezidor Hotel Group in 2007, [15] : 380  [18] while Carlson, a significant shareholder of Rezidor SAS since 2005, became the parent company of Rezidor Hotel Group in 2010. [19]

Since January 2012, the enlarged hotel group was trading as Carlson Rezidor Hotel Group. [20] In February 2014, Carlson Rezidor terminated the license agreement of Hotel Missoni. [21] Carlson Rezidor's Hotel Missoni Edinburgh and Hotel Missoni Kuwait would cease to use the brand Hotel Missoni not later than June 30, 2014. [22] In the same month, two new brands of the group were introduced, namely Quorvus Collection and Radisson Red. [23]

In March 2016, Carlson Rezidor acquired a 49% stake in German hotel chain prizeotel, for €14.7 million, with a future right to acquire the remaining 51% of the shares. [24] [25] (On October 4, 2019, Radisson announced that it was purchasing the remaining 51% of prizeotel. [26] ) In April 2016, Carlson Rezidor Hotel Group was sold to HNA Tourism Group, a division of Chinese conglomerate HNA Group. [27] [28] The loyalty programs: HNA Group and Hainan Airlines' Fortune Wings Club and Radisson's Radisson Rewards, signed a partnership agreement in June 2018. [29]

Radisson Hotel Group

In the fourth quarter of 2017, Carlson Hotels, Inc. (the US-based holding company of Carlson Rezidor Hotel Group) was renamed Radisson Hospitality, Inc., [30] while the Brussels-based Swedish-listed subsidiary (Rezidor Hotel Group AB) was renamed Radisson Hospitality AB in May 2018. [31] The whole group received a new trading name – Radisson Hotel Group. [32] The Club Carlson customer loyalty program was renamed Radisson Rewards. [33]

In August 2018, Radisson Hotel Group was sold to Aplite Holdings AB, a consortium led by a Chinese state-owned hospitality company, Jin Jiang International. [34] [6] According to the press release, Radisson Hotel Group had more than 1,400 hotels in operation and under development at that time. [6] As of December 2017, the listed subsidiary Rezidor Hotel Group AB had been operating 369 hotels. [30] : 3 

In June 2022, the Radisson Hotel Group agreed to sell Radisson Hotels Americas, consisting of the Radisson franchise agreements, operations and intellectual property in the United States, Canada, Latin America and the Caribbean to Choice Hotels for $675 million. [8] The deal closed on August 11, 2022. [35]

Brands

As of 2024, the Radisson Hotel Group operates properties under the following brands: [36]

Radisson also operated hotels under the brand Regent Hotels & Resorts, which was sold in 2010, and as Hotel Missoni under a license agreement that was terminated in 2014.[ citation needed ]

Radisson Collection

Radisson Collection Radisson Collection logo.svg
Radisson Collection

Radisson Collection was formerly known as Quorvus Collection from 2014 to 2018. [38] Quorvus Collection was introduced in 2014 as a luxury brand. [23] The first hotel of the former Rezidor Hotel Group in Copenhagen was converted to use the Radisson Collection brand. [39]

Country Inn & Suites by Radisson

Country Inn & Suites Country Inn & Suites Radisson logo.svg
Country Inn & Suites

Country Inn & Suites by Radisson, formerly Country Inns & Suites by Carlson [40] and Country Inns by Carlson, is a hotel chain of the Radisson Hotel Group (former Carlson Hotels). [41] It was established by the former Carlson Hotels' owner, Carlson Companies in 1986 as a "middle-class" brand. [1] : 92  The sister brand, Radisson Hotels was classified as full-service, upscale brand of the group. [1] : 92  Carlson Companies also owned the namesake, Country Kitchen restaurant chain at that time. [1] : 90–91 

In January 2018, two years after Carlson sold Carlson–Rezidor hotel group to HNA Group, the chain was rebranded into "Country Inn & Suites by Radisson". [40]

See also

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References

  1. 1 2 3 4 5 Rourke, Elisabeth; Salamie, David E.; Peippo, Kathleen; Rothburd, Carrie (2016) [previous versions of the article were published in vol.6, 22 and 87]. Pederson, Jay P. (ed.). "Carlson Companies, Inc". International Directory of Company Histories. 181. Farmington Hills, Michigan: St. James Press (Gale, Cengage Learning group). ISBN   978-1-55862-955-4.
  2. ↑ "Privacy Policy". Radisson Hotel Group. May 25, 2018. Retrieved January 30, 2019.
  3. 1 2 "Radisson Hotel Group announces a record year in Africa, with 13 hotels and 2,500 rooms signed to date". Africanews. September 20, 2021. Retrieved October 1, 2021.
  4. 1 2 3 "Raddison Hotel Group Executive Committee". Radisson Hotel Group. Retrieved 2021-02-06.
  5. ↑ "Carlson Rezidor Hotel Group reports revenue growth and development strides in 2013 | Radisson Hospitality AB".
  6. 1 2 3 4 "Radisson Hospitality, Inc. Issues Statement Following Completion of Acquisition by Jin Jiang International Holdings Co., Ltd" (Press release). Minneapolis; Singapore: Radisson Hospitality, Inc. (Radisson Hotel Group). November 13, 2018. Retrieved January 17, 2019.
  7. 1 2 Webster, Craig (2016). "Hotel chains, globalisation, and politics". In Ivanova, Maya; Ivanov, Stanislav; Magnini, Vincent P. (eds.). The Routledge Handbook of Hotel Chain Management. Routledge (Taylor & Francis Group). ISBN   9781315752532.
  8. 1 2 "Choice Hotels International to Acquire Radisson Hotel Group Americas". Choice Hotels International - Media Center. Retrieved 2022-06-13.
  9. ↑ "Choice Hotels International Completes Acquisition of Radisson Hotels Americas".
  10. ↑ "Curtis Carlson; Owner of Radisson Hotels". Los Angeles Times (obituary). February 22, 1999. Retrieved January 18, 2019.
  11. ↑ "History & Heritage". Radisson Hotel Group. c. 2018. Retrieved January 20, 2019.
  12. ↑ McDowell, Edwin (August 12, 1994) [digitalized on n.d.]. "Radisson and SAS Form Hotel Pact". The New York Times. Retrieved January 17, 2019.
  13. ↑ Blitz, Roger (March 27, 2008). "Kurt Ritter: Tricks of a half-century in hospitality" . Financial Times (news report and interview). London. Retrieved January 17, 2019.
  14. ↑ "Rezidor SAS Hospitality And Carlson Hotels Worldwide Complete Strategic Agreement". Hospitality Net. Retrieved 2023-01-10.
  15. 1 2 Cohen, M. L. (2010). Pederson, Jay P. (ed.). "Rezidor Hotel Group AB". International Directory of Company History. 118. Farmington Hills, Michigan: St. James Press (Gale, Cengage Learning group). ISBN   978-1-4144-4729-2.
  16. ↑ "OMX: Rezidor Hotel Group Listed on the Nordic Exchange" (Press release). Sweden: OMX; Rezidor Hotel Group. Business Wire. November 28, 2006. Retrieved January 17, 2019.
  17. ↑ "SAS Group Announces publication of Prospectus, IPO Timetable and Price Range for the Listing of Rezidor Hotel Group AB (publ)" (Press release). SAS Group. November 13, 2006. Retrieved January 17, 2019.
  18. ↑ "SAS Group sells remaining shareholding in Rezidor to Carlson Companies" (Press release). SAS Group. May 25, 2007. Retrieved January 17, 2019.
  19. ↑ Grayson, Katharine (May 19, 2010). "Carlson ups stake in Rezidor Hotel Group". Minneapolis/St. Paul Business Journal. American City Business Journals. Retrieved January 17, 2019.
  20. ↑ Spector, Mike; DiNapoli, Jessica (January 19, 2012). "Carlson, Rezidor to operate hotels under one name". Reuters. New York City. Retrieved January 17, 2019.
  21. ↑ Harwood, Susie (February 19, 2014). "Carlson Rezidor terminates Missoni contract and unveils new brands". citmagazine.com. Haymarket Media Group. Retrieved January 29, 2019.
  22. ↑ "Rezidor Hotel Group and Missoni terminate licence agreement for Hotel Missoni" (Press release). Brussels; Milan: Rezidor Hotel Group. February 18, 2014. Retrieved January 29, 2019.
  23. 1 2 Vomhof Jr., John; Hammerand, Jim (February 14, 2014). "Carlson launches two new hotel brands". Minneapolis/St. Paul Business Journal. American City Business Journals. Retrieved January 29, 2019.
  24. ↑ "Rezidor enters economy segment through acquisition of prizeotel" (Press release). Rezidor Hotel Group. March 6, 2016. Retrieved January 18, 2019.
  25. ↑ Rezidor Enters Economy Segment With Acquisition of Prizeotel
  26. ↑ Radisson buys the remaining shares of prizeotel
  27. ↑ Jourdan, Adam; Thomas, Denny (April 28, 2016). "China's HNA Group agrees to buy Carlson Hotels". Reuters. Shanghai; Hong Kong. Archived from the original on April 29, 2016. Retrieved January 17, 2019.
  28. ↑ Ma, Wayne; Wu, Kane; Beckerman, Josh (April 28, 2016). "China's HNA to Buy Carlson Rezidor Hotel Group" . The Wall Street Journal. New York City. Retrieved January 19, 2018.
  29. ↑ "Welcome to Radisson Hotel Group" 丽笙酒店集团与海南航空展开战略合作 (PDF) (Press release) (in Simplified Chinese). Batam: Radisson Hotel Group. June 27, 2018. Retrieved January 29, 2019.
  30. 1 2 Annual Report 2017 (PDF). Rezidor Hotel Group. 2018. Retrieved January 18, 2019.
  31. ↑ "Rezidor Hotel Group AB (publ) renames to Radisson Hospitality AB (publ)" (Press release). Brussels; Stockholm: Radisson Hospitality AB. May 7, 2018. Retrieved January 20, 2019.
  32. ↑ Written at Berlin. "China's HNA renames Carlson Rezidor as Radisson Hotel Group". Beijing. Xinhua News Agency. March 6, 2018. Archived from the original on March 6, 2018. Retrieved January 17, 2019.
  33. ↑ "Radisson Rewards is Radisson Hotel Group's refreshed loyalty" (PDF) (Press release). Brussels; Minneapolis; Singapore: Radisson Hotel Group. March 8, 2018. Retrieved January 20, 2019.
  34. ↑ Wu, Kane (August 10, 2018). "HNA sells Radisson Holdings to Jin Jiang-led consortium". Reuters. Hong Kong. Retrieved January 17, 2019.
  35. ↑ "Choice Hotels International Completes Acquisition of Radisson Hotels Americas".
  36. ↑ radissonhotels.com - Corporate. Retrieved 24 April 2024.
  37. ↑ radissonhotels.com - Prize by Radisson retrieved 21 September 2024
  38. ↑ "RHG's new Radisson Collection to replace Quorvus Collection". hoteliermiddleeast.com. ITP Digital Media. March 6, 2018. Retrieved January 20, 2019.
  39. ↑ O'Flaherty, Mark C. (March 27, 2018). "Return of a modernist masterpiece: the welcome revival of Copenhagen's Radisson Royal". The Telegraph. London. Retrieved February 4, 2019.
  40. 1 2 "Country Inns & Suites By Carlson Announces Name Change to Country Inn & Suites by Radisson" (Press release). Minneapolis: Carlson Rezidor Hotel Group. January 17, 2018. Archived from the original on February 24, 2020. Retrieved January 20, 2019.
  41. ↑ "Country Inn Suites".
  42. ↑ "Radisson Hotel Group". PPHE Hotel Group. Retrieved January 29, 2019.
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