Quorvus Collection, Radisson Blu, Radisson, Radisson Red, Park Plaza, Park Inn by Radisson, Country Inns and Suites By Carlson brands and the Club Carlson global hotel rewards program will be sold to China’s HNA Tourism Group Co., Ltd., a division of HNA Group Co., Ltd., a Fortune Global 500 company with operations across aviation, tourism, hospitality, finance, and online services among other sectors.

“Since my grandfather, Curt Carlson, founded our company in 1938, our family has run businesses that create opportunity for people and positive change in the world,” said Diana Nelson, Carlson board chair.

“Hospitality is in our hearts, which made this a difficult decision.

“We strongly believe that selling our hotel business to HNA Tourism Group, a company that fully recognises its value and heritage, is the best way for us to position it for success and to be true to my grandfather’s legacy in the long term,” said Nelson.

The companies say the combination of HNA Tourism Group and Carlson Hotels will have increased ability to accelerate growth through investments in areas such as digital, owned assets in major gateway cities, building of Radisson Red and other new brands.

“We have great respect for the Carlson family and a deep appreciation for its history and special culture,” said Haibo Bai, HNA Tourism Group board member and HNA Hospitality Group chairman and CEO.

“Carlson Hotels’ global success and strong, sustainable growth potential is a testament to their world-class brands, continuous innovation, excellent management, and unique employee-focused culture, all of which we will build upon as part of this combination to establish our presence in the US market and expand our footprint in hospitality internationally.

“We look forward to working together with their management team, employees, franchisee partners, suppliers and customers to accelerate growth by investing substantially in the business,” he said.