Radisson hotels owner Carlson Cos Inc is exploring strategic alternatives for its hotel business, including a sale, the Wall Street Journal reported on Thursday.

A merger or a partnership are the other alternatives the company is exploring, the Journal reported, citing people familiar with the matter.

Carlson declined to comment on the report.

Carlson Rezidor Hotel Group, which has 1,370 hotels in operation and under development, includes Radisson Hotels, Park Plaza Hotels and Country Inns and Suites. It once owned restaurant chain TGI Friday’s.

Minnetonka, Minnesota-based Carlson has hired Morgan Stanley to run the process, WSJ said.

Carlson’s hotel business, which acquired its first Radisson hotel in 1962, had revenue of about $7.8 billion in 2014.

Carlson Wagonlit Travel (CWT), the company’s travel management business, generated revenue of $27 billion in 2014.

Last year, Marriott International Inc agreed to buy Starwood Hotels & Resorts Worldwide Inc for $12.2 billion, which was seen as a precursor to more consolidation in the industry.

The rise of apartment-sharing startups such as Airbnb is expected to eat into hotels’ business as it signs up more and more homeowners, analysts warn.

(Reporting by Arunima Banerjee in Bengaluru; Editing by Kirti Pandey and Sriraj Kalluvila)

Photo Credit: Radisson Blu Hotel, Bucharest. Carlson Rezidor Hotel Group