Scandinavian airline group SAS AB said Thursday it plans to sell its 75 percent stake in the Rezidor hotel chain when it is listed on the Stockholm exchange later this year, REPORTED AP. «Listing Rezidor on the Stockholm Stock Exchange benefits all parties,» said SAS Acting Chief Executive Gunnar Reitan, adding that the sale was «in line with SAS's stated strategy of focusing on core airline activities.» The chain, which has changed its name from Rezidor SAS Hospitality Group to Rezidor Hotel Group in preparation for the public listing, opened its first hotel in 1960 and now operates 226 hotels in 49 countries. Its chains include Regent Hotels, Park Inn and Radisson SAS. SAS said the U.S.-based travel corporation Carlson Cos., which owns the remaining 25 percent of Rezidor, will increase its ownership to 35 percent by buying shares from SAS. SAS said the listing of Rezidor should be completed by the end of 2006, but gave no indication of the offer price.
