The owner of the Radisson chain is launching a $1.5 billion rebranding and expansion to make its hotels more luxurious in markets where it now lags and increase the number of hotels it operates by 50 percent.
Carlson Hotels Worldwide is announcing the plan Wednesday even as its industry continues to struggle with plunging revenue and mounting debt. About 15 percent of hotels nationwide are behind on payments, according to one measure.
Carlson said it will open five "flagship" hotels in major U.S. cities and spend hundreds of millions of dollars upgrading and renovating existing hotels.
The Minneapolis company will add 500 hotels worldwide over 5 years, a mix of Radissons, Country Inns & Suites, Regent Hotels and Park Inns.
© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.