Accor Considering Radisson Takeover (Bloomberg)

It was reported back in January (read more here) that Carlson was considering selling its hotels business and Bloomberg was reporting this week that Accor was one of the companies exploring a bid.

Radisson U

It would not be news really had Accor not be exploring the purchase as probably are most other hotel chains. Hyatt tried to purchase Starwood but lost to Marriott.

You can access the Bloomberg piece here of which below is an excerpt:

Accor SA, the biggest hotel operator in Europe, and Chinese conglomerate HNA Group Co. are among companies considering bids for Carlson’s hotel group, which includes the Radisson and Park Plaza brands, according to people with knowledge of the matter.

Carlson Rezidor Hotel Group could fetch about $2 billion in a sale, and a buyer could be chosen as soon as the first half of the year, the people said, asking not to be identified because the process is private. No final decisions have been made about the sale, and the company is also considering other options for the asset, the people said.

Spokeswomen for Accor, HNA and Carlson declined to comment. Carlson owns a controlling stake in publicly traded Rezidor Hotel Group AB. Accor shares fell 1.6 percent to 39.50 euros at 11:07 a.m. in Paris. Rezidor Hotel Group shares rose 9.5 percent in Stockholm.

Conclusion

Accor reached an agreement to purchase Fairmont, Swissotel and Raffles brands back in December for $2.9B. Buying Radisson would help the chain with their lackluster US footprint.

This must be the top of the market that’s usually when mergers and acquisitions happen (badly timed afterwards). I guess that we should know in few months time where Radisson brands will end up.

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