Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MINNEAPOLIS-Carlson Hotels Worldwide said it bought full ownership of the Park Inn and Park Plaza hotel brands from its joint venture partner, Olympus Hospitality Group.

The deal is aimed at consolidating Minneapolis-based Carlson’s global ownership of the Park brands and is expected to bring “brand clarity and growth” to Park Plaza and Park Inn hotels, the company says. Financial terms of the transaction were not disclosed.

“This acquisition demonstrates our commitment to the future of the Park brands and allows us to focus on accelerated growth,” says Jay Witzel, president and CEO of Carlson Hotels Worldwide. He says Park Inn, in particular, is “poised for aggressive global growth.” Carlson began developing and marketing Park Plaza and Park Inn as separate brands three years ago, he says. There are 34 Park Plaza hotels operating in 13 countries and 68 Park Inn’s in six countries. Park Plaza Hotels & Resorts is a mid-scale segment full-service hotel chain, while Park Inn hotels offers a relaxed environment in the economy category.

In a separate deal, Carlson bought the rights to the Park Plaza and Park Inn brands in the Asia Pacific region from Asian-based Park Plaza Kemayan.

With this acquisition, Carlson Hotels Asia Pacific includes 49 hotel locations in 11 countries. Park Plaza Hotels Europe owns, operates and franchises Park Plaza hotels in Europe, the Middle East and Africa. Rezidor SAS is the master franchiser for Park Inn hotels in Europe, the Middle East and Africa.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.