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Carlson Hotels Worldwide raises stake in Rezidor
Carlson Hotels Worldwide has increased its stake in Rezidor Hotels from 35% to 41.7%.
The shares were acquired from SAS Group for more than £40 million. The sale by the Scandinavian group means it has no further shares in Brussels-based Rezidor.
Rezidor has 227 properties operating in 47 countries along with an additional 70 properties under development.
The 6.7% SAS holding was a residual stake following the IPO of Rezidor last November.
At the time of the IPO Carlson owned 25% of Rezidor and increased its ownership to 35%.
The relationship between Carlson and Rezidor dates back to 1994 when the companies signed a Master Franchise Agreement for the Radisson brand in the Europe, the Middle East and Africa (EMEA). Subsequent agreements have expanded Rezidor’s franchise rights to include the Carlson brands of Regent Hotels & Resorts; Country Inns & Suites By Carlson and Park Inn.
Carlson Hotels Worldwide CEO Jay Witzel said: “The intention of SAS Group to sell its remaining shares in Rezidor represented a unique opportunity for Carlson to increase its investment in Rezidor.
“The business performance of Rezidor has been very good, making this a sound investment which also supports our commitment to the continuing growth and success of our brands in the EMEA.”
by Phil Davies
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