HNA Completes Acquisition of Carlson Hotels

HNA Tourism Group has completed its acquisition of Carlson Hotels, also making the Beijing-based company a 51% owner of Carlson's partner, Rezidor Hotel Group.

HNA Tourism didn't disclose how much it paid for Carlson Hotels, a company with more than 1,100 properties under the Radisson, Radisson Blu, Radisson Red, Park Plaza, Park Inn, Country Inns & Suites and Quorvus Collection brands.

Under the agreement, HNA has until early January to bid for the remaining shares of Rezidor or reduce its stake in the company to less than 30%.

HNA Tourism also owns Tangla Hotels and is the majority owner of Red Lion Hotels and NH Hotels.

HNA acquired Carlson Hotels form Minnesota-based travel giant Carlson, which owns travel-management firm Carlson Wagonlit Travel. Carlson had been in the hotel business since 1960.