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Radisson and Park Plaza owner agrees Chinese takeover deal

Acquisition of Carlson Hotels is worth a reported US$2bn

Pictured: Bai Haibo, chairman and CEO of the HNA Hospitality Group and David P. Berg, CEO, Carlson Hospitality Group, shake hands on the takeover

Carlson Hotels, the group that owns the Radisson, Park Plaza and Park in by Radisson brands has will be sold to the HNA Tourism Group.

The Chinese group has agreed a deal with the Carlson Hospitality Group worth a reported US$2bn to acquire Carlson Hotels and its rewards programme.

“Carlson Hotels own a powerful set of global brands and this historic agreement provides tremendous opportunities for growth,” said David P. Berg, Carlson Hospitality Group CEO. "We look forward to working within HNA Tourism Group, a greatly respected global enterprise, in what will be an exciting new chapter in the history of Carlson Hotels.”

The HNA Tourism Group is part of the HNA Hospitality Group, which operates across multiple sectors, from aviation to finance.

Bai Haibo, HNA Hospitality Group's chairman and CEO added: “Carlson Hotels' global success and strong, sustainable growth potential is a testament to their world-class brands, continuous innovation, excellent management, and unique employee-focused culture, all of which we will build upon as part of this combination to establish our presence in the US market and expand our footprint in hospitality internationally. We look forward to working together with their management team, employees, franchisee partners, suppliers and customers to accelerate growth by investing substantially in the business.”

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