Carlson (company)
Template:Short description Template:Infobox company
Carlson is an American privately held company headquartered in Minnetonka, Minnesota, United States. Its primary subsidiary is Carlson Private Capital Partners, a family office that manages the owners' wealth. It previously held interests in hotels, including Radisson Hotels, and restaurants, including TGI Fridays. The company is owned by Barbara Carlson Gage and Marilyn Carlson Nelson, daughters of the founder, Curt Carlson.
History
1938-1961; foundation as Gold Bond Stamp Company
Curt Carlson founded Carlson in 1938. It was originally named the Gold Bond Stamp Company and started with a $55 loan Carlson received from his landlord during the Great Depression.<ref name=obit/><ref name=inc>Template:Cite news</ref> Carlson used "Gold Bond Stamps", a loyalty program based on trading stamps, to provide consumer incentives for grocery stores, supermarkets, and gas stations.<ref>Template:Cite news</ref> The stamps could be redeemed for various items, such as patio furniture or a mink coat.<ref name=inc/> During the 1950s, C. F. Carlson was the nation's largest supplier of mink coats.<ref name=inc/>
1962-2013; Expansion into hospitality industry
In 1962, Carlson bought into his first Radisson Hotel, a vintage property in Minneapolis named after French explorer Pierre-Esprit Radisson.<ref>Template:Cite news</ref><ref>Template:Cite news</ref> The chain grew rapidly by franchising the name and taking management contracts for new hotels throughout the country.<ref name="Ivanova Ivanov Magnini 2016">Template:Cite book</ref> The company was renamed Carlson Companies, Inc., in 1973.<ref name=inc/>
In 1975, Carlson ventured into the restaurant business by acquiring an interest in TGI Fridays, taking full ownership in 1989.<ref>Template:Cite news</ref> It also purchased Country Kitchen, a chain of family-style restaurants in 1977,<ref>Template:Cite news</ref> selling the brand in 1997.<ref>Template:Cite news</ref>
In 1981, Carlson acquired E.F. MacDonald Motivation Co., another incentive management company, making the company the largest trading stamp company in the world. At that time, many employees were working six days per week and not receiving higher pay than those at similar companies with less demands.<ref>Template:Cite news</ref> In 1986, the company also established the Country Inns & Suites brand.<ref>Template:Cite web</ref>
In 1994, Carlson and Compagnie Internationale des Wagons-Lits, a division of Accor, merged their travel agencies to form CWT, a travel management company.<ref>Template:Cite news</ref> In 1997, Carlson acquired Regent Hotels & Resorts from Four Seasons Hotels and Resorts.<ref>Template:Cite news</ref> Carlson gained the rights to develop future hotels, while Four Seasons maintained management of nine hotels.<ref>Template:Cite news</ref> In spring 1998, Curt Carlson named his daughter Marilyn Carlson Nelson as his successor. He died in February 1999 after suffering a stroke.<ref>Template:Cite news</ref><ref name=obit>Template:Cite news</ref><ref>Template:Cite news</ref> In 2000, the company acquired Park Inn by Radisson and Park Plaza Hotels & Resorts.<ref>Template:Cite press release</ref>
In 2005, Carlson acquired 25% of Rezidor Hotel Group, a business partner of the hotel division in the Europe, the Middle East and Africa (EMEA) markets. Rezidor became a subsidiary of the Carlson hotel group in 2010, despite retaining its listing status. The hotel group rebranded as Carlson Rezidor Hotel Group in January 2012.<ref>Template:Cite news</ref>
2013 to present; divesting and foundation of family office
In May 2013, Diana Nelson assumed the chairmanship of the board of directors, succeeding her mother, Marilyn Carlson Nelson, who continues to serve as chairman emeritus. Rautio retired in 2015, leading to the company having separate CEOs for the hotel and travel businesses until the hotel business was sold to HNA.<ref>Template:Cite news</ref>
The company sold TGI Fridays to Sentinel Capital Partners and TriArtisan Capital Partners for a reported $800 million in 2014.<ref>Template:Cite news</ref> Two years later, it sold its hotel division, including Rezidor Hotel Group, Country Inns & Suites by Carlson, Park Inn by Radisson, Park Plaza Hotels & Resorts, Radisson Hotels, Radisson Blu Hotels, and Radisson Red Hotels, to the Chinese conglomerate HNA Group. The division was renamed Radisson Hotel Group in 2018.<ref name=Rezidor2017AR>Template:Cite book</ref>Template:Rp
In 2018, the company launched a family office to invest its cash.<ref>Template:Cite news</ref> It also renovated its headquarters.<ref>Template:Cite news</ref>
In 2022, CWT received a capital injection from owners which resulted in Carlson moving from majority to minority ownership.<ref>Template:Cite web</ref>
Aug. 11, 2022 Choice Hotels International, Inc. announced that it has completed the acquisition of the franchise business, operations and intellectual property of Radisson Hotels Americas for approximately $675 million from Radisson Hotel Group, inclusive of the real estate value of three owned hotels.<ref>Template:Cite news</ref>
References
External links
Template:Portalbar Template:Carlson Template:Minnesota Corporations