Publicly traded hotel firm Choice Hotels International has agreed to acquire Radisson Hotel Group’s Americas division, Radisson Hotel Group Americas, for approximately $675 million.
The deal will add 624 hotels with over 68,000 rooms to Choice’s portfolio in an effort to increase its presence in the upscale and upper-midscale segments in the West Coast and Midwest in the U.S., according to a news release announcing the deal. Choice President and CEO Pat Pacious had indicated a desire to grow through acquisitions during the company’s most recent earnings call.
In a statement to Hotel News Now, Choice officials indicated “the transaction is the latest chapter in our history of bringing our best-in-class franchising platform to adjacent segments and new sets of hotel owners.”
“The acquisition of some of the industry’s most recognized brands extends Choice Hotels’ customer reach in the upscale segments and enhances our presence in the core upper-midscale segments. We are…