Choice Hotels Completes Acquisition of Radisson Hotels Americas
Choice Hotels has announced that it has completed the acquisition of the franchise business, operations and intellectual property of Radisson Hotels Americas for approximately $675 million from Radisson Hotel Group, inclusive of the real estate value of three owned hotels.
The news means that Choice Hotels has now added approximately 67,000 rooms and expanded its presence the West Coast and Midwest of the United States.
Radisson Hotels Americas comprises the Radisson franchise agreements, operations and intellectual property in the United States, Canada, Latin America and the Caribbean. The transaction adds nine brands, including Radisson Blu, Radisson, Radisson Individuals, Park Plaza, Radisson RED, Country Inn & Suites by Radisson, Park Inn by Radisson, Radisson Inn & Suites and Radisson Collection.
Choice Hotels will independently own and control the brands in the Americas. The close of this transaction is not anticipated to change Choice Hotels’ current capital allocation strategy related to dividend payment policy and planned share repurchases.