Carlson increases stake in Rezidor

Carlson Hotels Worldwide said on Friday it will increase its stake in the Rezidor Hotel Group.

Carlson Hotels, which is owned by Minnetonka-based Carlson Cos. Inc., currently owns 35 percent of the Brussels-based Rezidor.

It will acquire an additional 10.1 million Rezidor shares from SAS Group of Stockholm. The acquisition of the additional shares brings Carlson's ownership of Rezidor to 41.7 percent. SAS won't have any shares in Rezidor after the deal.

Carlson paid $8.43 apiece for the shares, which values the total deal at about $85.2 million.

Rezidor operates 227 hotel properties in 47 countries, largely in Europe, the Middle East and Africa; another 70 properties are under development.

Jay Witzel, CEO of Carlson Hotels Worldwide, said that SAS was looking to unload its remaining Rezidor shares, creating a "unique opportunity" for Carlson.

"The business performance of Rezidor has been very good, making this a sound investment," he said .

Carlson Hotels Worldwide includes five hotel brands, totaling 953 locations in 73 countries.