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Formosa International Hotels buys luxury chain
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Carlson and The Rezidor Hotel Group AB have entered a definitive agreement to sell the Regent luxury hotel chain to with Formosa International Hotels Corp. (FIHC). Terms of the deal were not disclosed.
Carlson owns the Regent brand, while Rezidor has a master franchise agreement to develop the flag in Europe, the Middle East and Africa. Hubert Joly, Carlson's president and ceo, said the sale to FIHC reflects his company's previously announced desire to concentrate on its Radisson, Country Inns & Suites, and Park Inn brands, as outlined in the company's “Ambition 2015” strategy.
Regent's current portfolio includes luxury properties in Beijing; Singapore; Taipei; Berlin; Zagreb; Bordeaux; and Turks and Caicos, and it has eight additional properties under development.
FIHC is the original owner of the Grand Formosa Regent Taipei, which was opened 20 years ago by Regent founders Robert Burns, Adrian Zecha and George Raphael. “We appreciate the wisdom of Carlson and Rezidor in choosing FIHC, which can focus on pure luxury and ensure the future success of Regent,” said FIHC chairman S. Steven Pan. “Our mission is to build Regent into the most admired luxury hotel brand in the world that exceeds even the high expectations of Regent owners and guests.”
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