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.
On 28th June 2023, Choice Hotels announced that it is on track to integrate the nearly 600 Radisson Americas hotels onto its reservation delivery engine and its loyalty programme by the end of the summer.
Since the acquisition was completed in August 2022, Choice has also announced the following achievements related to the Radisson Americas stock:
- The improvement in Radisson Americas’ financial results;
- The matching of status and transfer of points between Radisson Rewards Americas and Choice Privileges. Full integration is anticipated before Q4 2023;
- The leveraging of nearly 100 new corporate customers to drive group bookings;
- The opening of seven Radisson Americas branded properties;
- The awarding of contracts for eight additional Radisson Americas branded hotels;
- The renewing of contracts or signing of relicensing agreements with 27 Radisson Americas branded hotels;
- The unveiling of plans for a Country Inn & Suites guestroom refresh;
- The extension of access to Choice University to Radisson Americas franchisees.
By the end of Q3 2023, Choice expects to have all Radisson Americas properties be bookable on its website and connected to its central reservations system.
Our proven expertise in integrating hotel brands is enabling us to complete the onboarding of the Radisson Americas properties onto our industry-leading business platform well ahead of plan. Complete integration of the nearly six hundred hotels will enable us to help drive their performance and profitability to the next level.
Pat Pacious, President & CEO of Choice Hotels