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Choice Hotels to acquire Radisson Hotel Group Americas
Choice Hotels International, Inc. will acquire Radisson Hotel Group Americas for approximately $675 million.
Radisson operates nine hotel brands in the Americas.
The added 624 hotels with over 68,000 rooms expand Choice Hotels’ presence in the upscale and core upper-midscale hospitality segments, particularly in the West Coast and Midwest.
Patrick Pacious, President and Chief Executive Officer of Choice Hotels, said, “Choice has a well-established history of smart acquisitions in new segments. This transaction brings together two highly complementary businesses.”
Choice Hotels will acquire the franchise business, operations and intellectual property of Radisson Hotels in the US, Canada, Latin America and the Caribbean, inclusive of the real estate value of three owned assets.
The acquisition will be funded with cash on hand and revolver borrowings.
It includes 10 Radisson Blu hotels, 130 Radisson hotels, 9 Radisson Individuals, 1 Park Plaza hotel, 4 Radisson RED hotels, 453 Country Inn & Suites by Radisson and 17 Park Inn by Radisson hotels, as well as the Radisson Inn & Suites and Radisson Collection brands.
Choice Hotels will independently own and control the brands in the Americas and will work with the Radisson Hotel Group to drive success of the brands.
The transaction was unanimously approved by Choice Hotels’ Board of Directors and is expected to close in the second half of 2022.
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