Choice Hotels International has completed the acquisition of the franchise business, operations and intellectual property of Radisson Hotels Americas for around USD$675 million from Radisson Hotel Group, inclusive of the real estate value of three owned hotels.
Radisson Hotels Americas comprises hundreds of locations across the United States, Canada, the Caribbean, and Latin America. The transaction adds nine brands (Radisson Blu, Radisson, Radisson Individuals, Park Plaza, Radisson RED, Country Inn & Suites by Radisson, Park Inn by Radisson, Radisson Inn & Suites and Radisson Collection) and 67,000 rooms in attractive, higher revenue destinations, particularly in the West Coast and Midwest of the United States.
Choice Hotels will independently own and oversee the brands in the Americas and looks forward to growing and continuing the success of these global brands with Radisson Hotel Group. The acquisition is not anticipated to affect Choice Hotels' current capital allocation strategy concerning dividend payment policy and planned share repurchases.
