Identification of Company
The company that I chose was Carlson companies because I work at The Cedar Bluff location of Country Inn and Suites. Carlson is a privately held international corporation which means there is no public trade. Carlson is well known for being one of the largest family-held corporations in the country. The headquarters of Carlson Companies is located at 701 Carlson Parkway Minnetonka, MN 55305 and the phone number for general information is 763-212-5000. Carlson’s business can be divided into 3 different groups, hotel, restaurant, and travel management. Regent, Radisson, Park Plaza, Country Inn and Suites, and Park Inn are Carlson’s hotel brands. T.G.I. Friday’s and Pick Up Stix are the restaurant brands of Carlson. Carlson Wagonlit Travel is Carlson’s travel management company. These three groups operate in conjunction with one another to form one of the world’s largest and most profitable private companies (Company Overview, n.d.). Hubert Joly is the president, CEO and Director of Carlson. Under Mr. Joly, there are 3 vice presidents, Jim Porter (CAO), Trudy Rautio (CFO), and William A. Van Brunt general counsel of Carson (Company Leadership, n.d.). Company Description & History
Curtis L. Carlson, founder and former chairman and CEO, registered Gold Bond Stamp Company with $ 55 of advanced money in Minneapolis, Minnesota in 1938. The company sold trade stamps to department stores and grocery stores, and department stores and grocery stores used the stamps as reward points. Customers gathered stamps and exchanged it for money or prizes. In 1944 because Carlson was drafted for WWII, he sold a half interest in the company to Truman Johnson, who was a friend and prior co-worker at Procter & Gamble. After WWII, his business expanded rapidly and he made a lot of money. In 1957, Kroger bought the Top Value portion of Carlson’s business for $ 1 million and this profit allowed him to buy out the half interest in the company from Truman Johnson, so that Carlson regained full control of the company in 1958. A few years later, the trading stamp industry began to fall. Carlson decided to change his business. In 1962, he bought Radisson hotel in downtown Minneapolis, and this was the beginning of Carlson Companies. He changed the company name to Carlson to diversify his business in 1973, and he bought T.G.I. Friday’s in 1975. In 1979, he bought Ask Mr. Foster Travel and changed the name to Carlson Travel Network in 1990. In 1994, it formed an alliance with Wagonlit Travel, and the name was changed to Carlson Wagonlit Travel. After the 1980’s, Carlson made the decision to focus on the hospitality and travel industry, and he started to buy other brands. Country Inn and Suites by Carlson was founded in 1987 and in 1996, Carlson bought the Regent brand. In 1997, he launched the Gold Point program, a reward program. Carlson died in February of 1999 and Marilyn Carlson Nelson, his daughter, took his place. In 2000, the company bought the Park Plaza and the Park Inn hotel brands, which are mostly located in Europe and Asia, and it also bought the Pick Up Stix restaurant brand in 2001. Carlson Companies expanded its business during the 21st century. In 2010, Ambition 2015 announced, the company’s global growth strategy which aims to increase the business portfolio by at least 50 % by 2015 to more than 1,500 hotels in operation (Company History, n.d.). The Hotel brands of Carlson are categorized by its scales and types, Luxury, upscale, and mid-price. The luxury hotel brand is Regent. It is located in 6 different countries, Beijing; Berlin; Bordeaux; Singapore; Taipei; Turks and Caicos and Zagreb. The Regent brand encompasses not only luxury hotels, but also resorts, residences, and cruises. Carlson does not operate the Regent’s cruise line because Apollo Management L.P acquired its operations. There are two upscale brands in Carlson Companies, Radisson and Park Plaza. Radisson...
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