Carlson Hotels Bought by China's HNA Tourism Group for Undisclosed Sum

A major Chinese company has acquired a U.S. hotel brand, but the deal involves neither Anbang Insurance Group nor Starwood Hotels and Resorts. HNA Tourism group, which is a Fortune 500 company with multiple business lines in China, is buying Carlson Hotels Inc. from Carlson Hospitality group, including Carlson Hotels' majority stake in Rezidor Hotel Group. The price of the deal has not been revealed and it is subject to regulatory approvals. Carlson Hotels expects it to close in the second half of 2016. HNA already has interests in multiple travel brands. It is the largest shareholder in Spanish hotelier NH Hotel Group SA as well as Spokane, Washington-based Red Lion Hotels, it owns Swissport International, and has a stake in the Azul airline, among others. It also runs Hainan Airlines, one of China's largest regional carriers. HNA's Tourism Group was founded in 2007 and its most recent acquisition, on April 15, involved purchasing London-based International Currency Exchange, which operates currency exchange booths in airports around the world. Carlson'