Rezidor SAS Hospitality, the Brussels-based subsidiary of the SAS Group, today jointly announced with US-based Carlson Hotels Worldwide, that they have completed the strategic agreement, originally announced in March, 2005, which results in an enhancement of their long-time franchise partnership into a shareholder agreement.
Carlson Hotels has now acquired a 25 percent shareholding in Rezidor SAS from SAS Group in return for renegotiated commercial terms of the parties’ current Master Franchise Agreement (MFA). The MFA is the agreement between Rezidor SAS and Carlson by which Rezidor manages Carlson Hotel brands in Europe, the Middle East and Africa (EMEA). These brands have included Radisson SAS, Park Inn, Regent International Hotels and Country Inns & Suites.
Since the agreement was originally announced, the companies have moved forward to seek closer cooperation in key business areas such as sales, distribution, marketing and communications.