Thursday, August 11, 2022

Rockville-based Choice Hotels acquires Radisson Hotels Americas

Rockville-based Choice Hotels announced today it has acquired the portfolio of Radisson Hotels Americas from the Radisson Hotel Group. The purchase price was $675,000,000, including the real estate value of three corporate-owned Radisson hotel properties.. Choice gains about 67,000 hotel rooms in the deal, with the biggest gains coming in the Midwest and on the West Coast. Hotel brands now under the ownership of Choice through the transaction include Radisson Blu, Radisson, Radisson Individuals, Park Plaza, Radisson RED, Country Inn & Suites by Radisson, Park Inn by Radisson, Radisson Inn & Suites and Radisson Collection.

"This transaction brings together two highly complementary businesses, enhancing our guest offerings in the core upper-midscale hospitality segments, while extending our reach into the upper upscale and upscale full-service segments and in higher revenue geographic markets," Choice CEO Patrick Pacious said in a statement. "We are confident that guests and franchisees will significantly benefit by combining these two exceptional sets of brands."

1 comment:

  1. A nice expansion. It's too bad Hilton decided to renew their NoVa lease. MoCo is the premiere location for the industry, though I suppose this way Hilton can draw from a separate (albeit smaller) pool of industry workers rather than competing with Marriott, Choice, and Host.