Jin Jiang acquires a majority stake in Radisson Hospitality

November 28, 2018

Radisson Hospitality has officially changed ownership. A consortium led by Jin Jiang from Shanghai and SINO-CEE Fund - a private equity fund based in Luxembourg - has entered into an agreement with Radisson Hospitality and HNA Sweden Hospitality Management AB to purchase 50.21 percent of Radisson shares.

"This is another incredible milestone in our company's history, which will undoubtedly elevate the position of Radisson Hotel Group to a new level of strength as a global leader in the hotel industry. When we announced the brand change to Radisson Hotel Group earlier this year, we shared our vision of the company, which was to be the choice for guests, owners, and talents." - John M. Kidd, CEO and COO of Radisson Hospitality.

Rumors about the acquisition of Radisson were circulating at the beginning of August this year, which were confirmed a few days later. This transaction will make Jin Jiang the seventh-largest hotel operator in the world with 344,000 rooms. Radisson Hotel Group's portfolio includes over 1400 hotels and 220,000 rooms operating or in development under its eight brands worldwide.

Jin Jiang has been conducting an acquisition campaign for several years. First, in 2014, it absorbed Louvre Hotels, then in 2016, it acquired an 80 percent stake in Vienna Hotel Group and Indian hotels Sarovar. In the same year, it also attempted to acquire AccorHotels, but without success. Nonetheless, it owns 12 percent of Accor shares.

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Jin Jiang acquires a majority stake in Radisson Hospitality

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