The move will see the addition of nine brands and 67,000 keys across the United States, Canada, Latin America and the Caribbean to Choice Hotels’ portfolio.
The lodging franchisor has acquired the franchise business, operations and intellectual property of Radisson Hotels Americas for a reported amount of $675 million. The move will bolster its presence in the upper upscale and upscale full-service segments, as well as its core upper-midscale hospitality segment.
The acquisition will involve the following Radisson Hotels Americas brands:
- Radisson Blu
- Radisson Individuals
- Park Plaza
- Radisson RED
- Country Inn & Suites by Radisson
- Park Inn by Radisson
- Radisson Inn & Suites
- Radisson Collection
The brands will be independently owned and controlled by Choice Hotels, who will nevertheless continue to collaborate with Radisson to drive their growth, continuity and success.
Credit Suisse Securities (USA) LLC provided financial advice to Choice Hotels, with Wilkie Farr & Gallagher LLP providing legal advice. Baker McKenzie operated as legal advisor to Radisson Hotel Group.
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