Carlson and The Rezidor Hotel Group are to sell the Regent hotel business to Formosa International Hotels Corporation (FHIC).
The acquisition will see FHIC taking control of the Regent brand, all associated intellectual property, the hotel management and lease contracts for properties in operation and under development, and the Regent Seven Seas Cruises license.
The Regent brand is currently owned by Carlson and its subsidiaries, with the publicly-held Rezidor Hotel Group holding a separate master franchise agreement including the development rights for Regent in Europe, the Middle East and Africa.
A statement released by all parties said that future Regent hotels “will be based on the concept of mixed-use, lifestyle development that encompasses the finest hospitality, residential, and commercial components in prime urban and resort locations”.
There are plans for the Regent brand to return to cities including Hong Kong, Tokyo, Shanghai, New York, Beverly Hills, London, Paris, and Sydney, with pipeline projects in Abu Dhabi, Bali, Bangkok, Doha, Dubrovnik, Gurgaon, Kuala Lumpur, Maldives, Phuket, and Puerto Rico.
FIHC is the original owner of the Grand Formosa Regent Taipei, which was opened 20 years ago by Regent founders Robert Burns, Adrian Zecha (who later founded Aman Resorts) and George Raphael.
The parties said they would ensure a smooth transition, with Carlson continuing to provide reservations and other services to the existing Regent network, and Rezidor continuing to provide management services for Regent Hotels in Europe, the Middle East and Africa.
Report by Mark Caswell