Printed: Aug. 11, 2022 at 9:46 AM EDT|Updated: 9 hrs in the past
Unites really complementary hospitality businesses, including nine brands and 67,000 rooms in desirable, greater revenue places
ROCKVILLE, Md., Aug. 11, 2022 /PRNewswire/ — Option Accommodations International, Inc. (NYSE: CHH) these days announced that it has concluded the acquisition of the franchise enterprise, operations and intellectual house of Radisson Inns Americas for approximately $675 million from Radisson Hotel Team, inclusive of the actual estate benefit of 3 owned lodges.
Option Hotels Worldwide, Inc. these days declared that it has accomplished the acquisition of Radisson Hotels Americas.
With the shut of this transaction, Choice Inns Global has included somewhere around 67,000 rooms, expanding its existence in the larger revenue higher upscale and upscale entire-company segments, and bolstering its core upper-midscale hospitality phase, specifically in the West Coast and Midwest of the United States.
Radisson Motels Americas includes the Radisson franchise agreements, functions and intellectual assets in the United States, Canada, Latin The united states and the Caribbean. The transaction adds nine brand names, like Radisson Blu, Radisson, Radisson Men and women, Park Plaza, Radisson Red, State Inn & Suites by Radisson, Park Inn by Radisson, Radisson Inn & Suites and Radisson Selection. Decision Lodges will independently own and manage the makes in the Americas and appears forward to operating with Radisson Lodge Group to generate the advancement, continuity and success of these international brands. The close of this transaction is not expected to improve Option Hotels’ present-day capital allocation strategy associated to dividend payment plan and prepared share repurchases.
Credit score Suisse Securities (Usa) LLC served as economic advisor to Alternative Hotels Intercontinental on the transaction, and Willkie Farr & Gallagher LLP served as authorized advisor. Baker McKenzie served as authorized advisor to Radisson Lodge Team.
About Preference Motels®
Decision Lodges Intercontinental, Inc. (NYSE: CHH) is just one of the biggest lodging franchisors in the entire world. On August 11, 2022, Preference obtained Radisson Accommodations Americas, introducing 9 brand names and roughly 67,000 rooms in the United States, Canada, Latin America and the Caribbean to its portfolio. With 22 makes, Decision Motels has additional than 7,500 inns, and just about 650,000 rooms, in 46 countries and territories as of August 11, 2022. The Alternative® family of resort models deliver company and leisure travelers with a wide vary of substantial-excellent lodging selections from minimal support to whole-support accommodations in the higher upscale, higher mid-scale, midscale, prolonged-remain and financial state segments. The award-winning Preference Privileges® loyalty program offers associates a more rapidly way to rewards, with individualized benefits starting up on working day just one. For a lot more data, visit www.choicehotels.com.
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