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by Michael J. Shapiro | April 21, 2010

Hospitality and travel company Carlson will sell its Regent luxury hotel business to China-based Formosa International Hotels, the original owner of the Grand Formosa Regent Taipei. The purchase includes the global Regent brand and all associated intellectual property; hotel-management and lease contracts for properties in operation and under development; and the Regent Seven Seas Cruises license. The Rezidor Hotel Group, which owns Regent development rights in Europe, the Middle East and Africa, will sell its stake to Formosa as well. The sale will allow Carlson to focus on growing its core brands, according to president and CEO Hubert Joly, including Radisson, Country Inn & Suites and Park Inn.