SINGAPORE, 15 November 2018: A consortium led by China’s Jin Jiang International Holdings has completed the acquisition of Radisson Hospitality.
The consortium acquired a 52.21% stake in the hotel group giving it majority control.
In response to the announcement Radisson Hospitality Inc chief executive officer and chief operating officer John Kidd issued a statement.
“This marks yet another incredible milestone … one that I’m confident will elevate Radisson Hotel Group to a new level of strength as a global leader in the hospitality industry.”
The US-based hotel group rebranded, earlier this year, to Radisson Hotel Group.
It is now owned by the fifth largest hotel company in the world. Jin Jiang’s loyalty programme alone exceeds 100 million members.
This type of size, coupled with the record number of Chinese consumers traveling abroad, will see major changes in the Radisson Hotel Group that could also impact on top management positions in the long-run.
According to Kidd, “the consortium led by Jin Jiang will work with us to improve and execute our five-year plan.”
Radisson Hospitality Inc is a privately held global hospitality company headquartered in Minneapolis, Minnesota (USA).
The group counts 1,400 hotels in operation and under development with more than 220,000 rooms and a footprint spanning 115 countries and territories.
