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CHOICE HOTELS INTERNATIONAL has entered into a definitive agreement to acquire the franchise business, operations and intellectual property of Radisson Hotel Group Americas for approximately $675 million. The addition of Radisson's nine brands to Choice will bring with it 624 hotels with more than 68,000 rooms. As part of the transaction, which covers properties in Canada, Latin America and the Caribbean as well as the U.S., Choice will independently own and control the brands in the Americas and will work with Radisson to drive the growth, continuity and success of the brands, according to a joint press release from the companies. It will be funded by cash on hand and revolver borrowings and includes 10 Radisson Blu hotels, 130 Radisson hotels, 9 Radisson Individuals, 1 Park Plaza hotel, 4 Radisson RED hotels, 453 Country Inn & Suites by Radisson and 17 Park Inn by Radisson hotels, as well as the recently launched Radisson Inn & Suites and Radisson Collection brands. Choice's board of directors unanimously approved the transaction and is expected to close in the second half of 2022, pending regulatory approvals and customary closing requirements. The transaction is not anticipated to change Choice's current capital allocation strategy related to dividend payment policy and planned share repurchases.

JIM ALDERMAN HAS stepped down from his position as CEO for the Americas at Radisson Hotel Group Americas "to pursue other opportunities," the company said in a statement. Tom Buoy, Radisson's chief commercial officer, will serve as interim CEO while the company searches for Alderman's replacement. The company did not release details of where Alderman is going but said only that it is looking for a full-time replacement while remaining "focused on the future." "Our plan is to continue to move forward with the vision set forth by our board and executive team to grow the company," Buoy said. "We have an exceptional internal team of leaders focused on making Radisson Hotel Group Americas better for owners, franchisees, team members, and investors alike, and I am very confident we will continue to grow in 2022 and beyond." Alderman was appointed to the CEO position in March 2020 to replace Ken Greene, who stepped down as the company's president for the Americas in December due to personal reasons. Greene is now president and CEO at AAHOA.

DALLAS-BASED NEWCRESTIMAGE plans to acquire 45 hotels from a private investment firm. The portfolio includes approximately 3,300 rooms in 11 states, but other terms of the transaction were not disclosed. The hotels include 35 Marriott International-branded, seven Hilton-branded, two Choice Hotels International-branded and one Radisson Hotels-branded properties. They are in Arkansas, Colorado, Illinois, Iowa, Kansas, Michigan, Minnesota, North Dakota, Ohio, South Dakota and Texas, according to NewcrestImage. "The current financial environment makes it very attractive to buy rather than build, and this group of fine hotels in high-traffic locations provides us with an exceptional opportunity to immediately start generating significant revenue, profit, and return on investment," said Mehul Patel, NewcrestImage managing partner and CEO.

The Country Inn & Suites by Radisson Pierre is now open in Pierre, South Dakota. It is owned by Pramukhraj Pierre ownership group led by Yogin Patel as principal. The 53-room, recently renovated hotel is near Pierre Regional Airport, the South Dakota State Capitol, the LaFramboise Island Nature Area on the Missouri River, the Steamboat Park amphitheatre and the South Dakota Discovery Center. Hotel guests will find themselves within walking distance of as well as numerous downtown restaurant options. Those seeking to explore the outdoors have no shortage of activities to choose from, with seasonal fishing, cross-country skiing, biking, hiking and birdwatching options available via the nearby and. Other easily accessible attractions include, among others. Amenities include a fitness center and meeting rooms.