Choice Hotels International has completed the acquisition of Radisson Hotels Americas for approximately US$675 million.
The deal, which was first announced in June, includes the purchase of Radisson Hotel Group’s franchise business, operations and intellectual property in the US, Canada, Latin America and the Caribbean region, expanding Choice’s portfolio with nine new brands and an estimated 67,000 rooms.
The acquisition gives Choice a bigger slice of the higher revenue upper upscale and upscale full-service segments, and bolsters its core upper-midscale hospitality segment, particularly in the West Coast and Midwest of the US.
“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 Hotels President and CEO, Patrick Pacious, said when the deal was first announced.
Choice will now own and operate Radisson Blu, Radisson, Radisson Individuals, Park Plaza, Radisson RED, Country Inn and Suites by Radisson, Park Inn by Radisson, Radisson Inn and Suites and Radisson Collection in the Americas.
Choice said it looks forward to working with Radisson to drive growth for these global brands.