Carlson Looks to Sell Radisson Hotels
The number of players in the hotel industry continues to shrink, and now it’s the Carlson Rezidor Hotel Group on the block.
Minnesota-based Carlson Cos Inc. is the parent of business-travel mega-agency Carlson Wagonlit Travel. Its hotel group operates 1,100 properties under the Radisson Hotels, Country Inns & Suites, Quorvus Collection, and Park Plaza Hotels brands, generating almost $8 billion in revenue.
The Wall Street Journal reports Carlson has instructed Morgan Stanley to sound out potential buyers.
Insiders say the spate of recent mergers in the hotel industry is a response to the threat of Airbnb (LINK TO STORY), whose huge volume of available beds for sleepy heads dwarves that of all the existing hotel companies. The answer, many believe, is for the hotel companies to grow, and to do it quickly.
–Cheryl Rosen
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