New Ownership Structure at Radisson Blu Aqua Hotel, Chicago
CHICAGO—Carlson Rezidor Hotel Group and Magellan Development Group together have entered into a strategic partnership with Seldar Holdings, the North American investment and business development arm of Al Rayyan Tourism and Investment (”ARTIC”). This partnership will own the Radisson Blu Aqua Hotel, Chicago, which opened on November 1, 2011. READER COMMENTS
Carlson Rezidor Hotel Group will retain the long-term management contract for the hotel. As a result, the new ownership structure will not affect hotel operations or the guest experience.
In an announcement, Thorsten Kirschke, president, Americas, Carlson Rezidor Hotel Group said of the sale, “We are pleased to complete this sale with such an esteemed partner. We look forward to continuing to grow our relationship with Al Faisal Holding and Magellan Development Group and to emulating the success of the Radisson Blu Aqua Hotel, Chicago with many opportunities to come.”
The terms of the sale and management contract, including extension agreements, were not disclosed.
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