Carlson & Rezidor complete sale of Regent
23 June 2010
Carlson and The Rezidor Hotel Group have announced that the acquisition of the Regent luxury hotel business by Formosa International Hotels Corporation has been completed.
The companies have announced in April that they had signed a Master Purchase Agreement.
Brussels-based Rezidor Hotel Group and privately held Minneapolis-based Carlson Hospitality Group have sold the Regent luxury hotel brand to Taiwan-based Formosa International Hotels Corporation for a total of €9.5 million.
A Master Purchase Agreement was signed between the three companies back in April 2010, and the deal was closed this week. The acquisition includes the Regent brand and its associated intellectual property, the hotel management and lease contracts for Regent properties in operation and under development, and the licence for the Regent Seven Seas Cruises business.
FIHC is the largest and most profitable hotel company listed on the Taiwan Stock Exchange, with market capitalization in excess of US$900 million and debt free. It owns its flagship Grand Formosa Regent Taipei, 538 rooms, eight restaurants, and 5,000 m2 of banquet space. In addition, FIHC operates the lifestyle hotel brand SILKS and multiple restaurant brands throughout the greater China region.
