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The $675 million deal will add 624 hotels and 68,000 rooms to Choice’s presence in the region…

/PRNewswire/ -- Choice Hotels International, Inc. (NYSE: CHH) and Radisson Hotel Group today announced that Choice Hotels has entered into a definitive...

Radisson Hotel Group is selling its Americas business to US-based Choice Hotels in a $675 million deal. Choice will add Radisson Hotel Group Americas’ nine brands encompassing 624 hotels and more than 68,000 rooms in the Americas region to its existing portfolio, which includes 7,000 hotels and 600,000 rooms in 35 countries.

Choice Hotels announced it has entered into a definitive agreement to acquire the franchise business, operations and intellectual property of Radisson Hotel Group Americas for $675 million, which would add nine brands, 624 hotels and more than 68,000 hotel rooms to its portfolio.  Choice said the acquisition would increase its presence in the upscale and upper-midscale hotel segments, and particularly in the western and midwestern U.S., along with providing growth opportunities to expand the Choice Hotels brand in Canada, Latin America and the Caribbean. 

Pent-up demand, and the possibility of a looming recession