Carlson Exploring Potential Sale, Merger of Radisson, Hotel Brands
The Carlson Rezidor Hotel Group, which operates several hotel brands — including Radisson Hotels and Country Inns & Suites — is rumored to be exploring strategic alternatives for its hotel business, the Wall Street Journal reported.
Citing sources close to the situation, the Journal reported the group's parent company Carlson is considering several possibilities, including a potential sale, merger or partnership.
The Journal also reported that the Minnesota-based company is calling on financial services corporation Morgan Stanley to guide it through the process.
The Carlson Rezidor Hotel Group, which currently operates more than 1,100 hotels and nearly 174,000 rooms around the world, also owns the Park Inn brand, Park Plaza Hotels & Resorts and the Quorvus Collection.
As of 2014, Carlson's hotel business boasted revenue in the range of $7.8 billion, according to Reuters.
This week's rumor comes just two months after Marriott International announced an agreement to acquire Starwood Hotels & Resorts Worldwide in a blockbuster deal valued at $12.2 billion.
The impending merger will result in the world's largest hotel company and could spur additional mergers as companies struggle to compete against emerging short-term rental services.
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