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Global hospitality groups Carlson and the Rezidor Hotel Group have announced that they had sold their luxury hotel brand, Regent to Taiwan-based company Formosa International Hotels Corporation (FIHF).

The sale includes both the brand and also all hotel management and lease contracts.
While no figure was mentioned for the sale, a statement by Carlson said that Rezidor's share of the transaction would be around €9.5m. It said the sale would have an "annual positive effect of €2-3m" on pre-tax earnings for the foreseeable future.

Hubert Joly, Carlson's president and CEO, said the sale would enable his company to "focus our resources on growing our core brands, especially Radisson, Country Inns and Suites, and Park Inn, as outlined in our Ambition 2015 strategy."

Kurt Ritter, Rezidor's president and CEO, said: "In addition to the positive impact on annual cash flow and net profit, this deal will also free up resources to improve our operations and accelerate the expansion of Rezidor's core brands."

FIHF is the largest hotel group in Taiwan, with a value of around $900 million. Its flagship hotel is the Grand Formosa Regent Taipei which has 538 rooms and 5,000 square metres of banqueting space. The group also operates the Silks hotel and various restaurant brands in China.

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