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Radisson Hotel Chain Is Latest U.S. Giant to Be Snapped Up By Chinese
A unit of Chinese conglomerate HNA Group has agreed to buy Carlson Hotels, which owns brands including Radisson and Country Inns and Suites, the latest in a flurry of overseas investments by Chinese companies.
HNA Tourism Group will acquire all of Carlson Hotels Inc., the companies said in a joint statement released late Wednesday that did not disclose the purchase price.
They said that Carlson's headquarters would remain in Minnetonka, Minn., after the deal is completed.
HNA Tourism Chairman Bai Haibo said buying Carlson Hotels will help the Chinese company "establish our presence in the U.S. market and expand our footprint in hospitality internationally."
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