Accor and HNA both consider Carlson Rezidor acquisition
Europe's biggest hotel operator Accor SA, and Chinese conglomerate HNA Group are among companies in bids for Carlson’s hotel group, which includes the Radisson and Park Plaza brands.
Biggest hotel operator in Europe Accor SA joins Chinese conglomerate HNA Group in a bid for acquisition of Carlson’s hotel group, which includes the Radisson and Park Plaza brands, according to people with knowledge of the matter.
Carlson Rezidor Hotel Group could fetch about $2 billion in a sale, and a buyer could be chosen as soon as the first half of the year, the people said, asking not to be identified because the process is private. No final decisions have been made about the sale, and the company is also considering other options for the asset, the people said.
Spokeswomen for Accor and Carlson declined to comment. A representative for HNA didn’t immediately respond to requests for comment outside of normal business hours. Carlson owns a controlling stake in publicly traded Rezidor Hotel Group AB.
Paris-based Accor, which owns the Sofitel and Ibis brands, and HNA have been acquisitive in the hotel and travel industry in recent months. In December, Accor agreed to buy the owner of the upscale Fairmont, Raffles and Swissotel brands for about $2.9 billion in shares and cash. Earlier in the year, Accor acquired hotel-reservation service Fastbooking.
Chinese aviation and shipping conglomerate HNA Group had lost the bid for London City Airport to a consortium led by Ontario Teachers' Pension Plan Board and Borealis Infrastructure last week. The conglomerate had spent at least USD 17 billion on global acquisitions for the past year.
Read original article