Carlson is an American

privately held company A privately held company (or simply a private company) is a company whose shares and related rights or obligations are not offered for public subscription or publicly negotiated in the respective listed markets, but rather the company's stock is ...

headquartered in

Minnetonka, Minnesota Minnetonka ( ) is a city in Hennepin County, Minnesota, United States. A western suburb of the Twin Cities, Minnetonka is located about west of downtown Minneapolis. As of the 2020 census, the city's population was 53,781. Minnetonka is th ...

, United States. Its primary subsidiaries are CWT, a

travel management company Travel Management Companies (TMCs) are travel agencies that manage organizations' corporate or business travel program. They will often provide an end-user online booking tool, mobile application, program management, and consulting teams, executiv ...

, and Carlson Private Capital Partners, a

family office A family office is a privately held company that handles investment management and wealth management for a wealthy family, generally one with at least $50-$100 million in investable assets, with the goal being to effectively grow and transfe ...

that manages the owners' wealth. It previously held interests in hotels, including

Radisson Hotels Radisson Hotels is an international hotel chain headquartered in the United States. A division of the Radisson Hotel Group, it operates the brands Radisson Blu, Radisson RED, Radisson Collection, Country Inn & Suites, and Park Inn by Radis ...

, and restaurants, including

TGI Fridays TGI Fridays (operating in the UK as FRIDAYS) is an American restaurant chain focusing on primarily American cuisine and casual dining. The restaurant's founder said the name stood for "Thank God It's Friday", although some television commercial ...

. The company is owned by Barbara Carlson Gage and Marilyn Carlson Nelson, daughters of the founder,

Curt Carlson Curtis Leroy Carlson (July 9, 1914 – February 19, 1999) was an American businessman and founder of Carlson and Radisson Hotel Group. Early life and education Carlson was born in Minneapolis, Minnesota, the son of Charles and Leatha Carlson. C ...

History

1938-1961; foundation as Gold Bond Stamp Company

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 The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagio ...

. Carlson used "Gold Bond Stamps", a

loyalty program A loyalty program is a marketing strategy designed to encourage customers to continue to shop at or use the services of a business associated with the program. Today, such programs cover most types of commerce, each having varying features and ...

based on trading stamps, to provide consumer incentives for grocery stores, supermarkets, and gas stations. The stamps could be redeemed for various items, such as patio furniture or a

mink coat Fur clothing is clothing made from the preserved skins of mammals. Fur is one of the oldest forms of clothing, and is thought to have been widely used by people for at least 120,000 years. The term 'fur' is often used to refer to a specific i ...

. During the 1950s, C. F. Carlson was the nation's largest supplier of mink coats.

1962-2013; Expansion into hospitality industry

In 1962, Carlson bought into his first Radisson Hotel, a vintage property in

Minneapolis Minneapolis () is the largest city in Minnesota, United States, and the county seat of Hennepin County. The city is abundant in water, with thirteen lakes, wetlands, the Mississippi River, creeks and waterfalls. Minneapolis has its origin ...

named after French explorer

Pierre-Esprit Radisson Pierre-Esprit Radisson (1636/1640–1710) was a French fur trader and explorer in New France. He is often linked to his brother-in-law Médard des Groseilliers. The decision of Radisson and Groseilliers to enter the English service led to the fo ...

. The chain grew rapidly by franchising the name and taking management contracts for new hotels throughout the country. The company was renamed Carlson Companies, Inc., in 1973. In 1975, Carlson ventured into the restaurant business by acquiring an interest in

, taking full ownership in 1989. It also purchased Country Kitchen, a chain of family-style restaurants in 1977, selling the brand in 1997. 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. In 1986, the company also established the

Country Inns & Suites Radisson Hospitality, Inc. (trading as Radisson Hotel Group) is an American multi-national hospitality company. It started as a division of Carlson Companies, which owned Radisson Hotels, Country Inns & Suites and other brands. In 1994, Carlson s ...

brand. In 1994, Carlson and

Compagnie Internationale des Wagons-Lits Newrest Wagons-Lits, formerly (lit. ''International Sleeping-Car Company''), also CIWL, Compagnie des Wagons-Lits, or just Wagons-Lits, is a division of particularly known for its on-train catering and sleeping car services, as well as being ...

, a division of

Accor Accor S.A. is a French multinational hospitality company that owns, manages and franchises hotels, resorts and vacation properties. It is the largest hospitality company in Europe, and the sixth largest hospitality company worldwide. Accor ope ...

, merged their travel agencies to form CWT, a

. In 1997, Carlson acquired

Regent Hotels & Resorts Regent Hotels & Resorts is a British luxury hospitality brand, founded by hotelier Robert H. Burns in 1970. After passing through different owners since foundation, it is currently jointly owned by IHG Hotels & Resorts and Formosa International Ho ...

from

Four Seasons Hotels and Resorts Four Seasons Hotels Limited, trading as Four Seasons Hotels and Resorts, is an international luxury hotel and resort company headquartered in Toronto, Ontario, Canada. Four Seasons currently operates more than 100 hotels and resorts worldwide.D ...

. Carlson gained the rights to develop future hotels, while Four Seasons maintained management of nine hotels. In spring 1998, Curt Carlson named his daughter Marilyn Carlson Nelson as his successor. He died in February 1999 after suffering a stroke. In 2000, the company acquired

Park Inn by Radisson Park Plaza Hotels & Resorts, formerly Park Plaza International Hotels, Inns and Resorts and commonly known as just Park Plaza, is a hotel chain which runs several hotel groups as franchises. It was established in 1986 as a company and acquired b ...

and

Park Plaza Hotels & Resorts Park Plaza Hotels & Resorts, formerly Park Plaza International Hotels, Inns and Resorts and commonly known as just Park Plaza, is a hotel chain which runs several hotel groups as franchises. It was established in 1986 as a company and acquired b ...

. 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.

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. The company sold TGI Fridays to Sentinel Capital Partners and TriArtisan Capital Partners for a reported $800 million in 2014. Two years later, it sold its hotel division, including Rezidor Hotel Group,

by Carlson,

Radisson Blu Radisson Blu is an international chain of hotels operated by Radisson Hotels. With roots dating back to the 1960s, the Radisson Blu brand name came into existence in 2009 with a rebranding from Radisson SAS. Its hotels are found in major cities, ...

Hotels, and Radisson Red Hotels, to the Chinese conglomerate

HNA Group HNA Group Co., Ltd., is a Chinese conglomerate headquartered in Haikou, Hainan, China. Founded in 2000, it was involved in numerous industries including aviation, real estate, financial services, tourism, logistics, and more. It is a part owner ...

. The division was renamed

Radisson Hotel Group Radisson Hospitality, Inc. (trading as Radisson Hotel Group) is an American multi-national hospitality company. It started as a division of Carlson Companies, which owned Radisson Hotels, Country Inns & Suites and other brands. In 1994, Carlson s ...

in 2018. In 2018, the company launched a

to invest its cash. It also renovated its headquarters.

References

External links

* {{Authority control Conglomerate companies established in 1938 Privately held companies based in Minnesota Companies based in Minnetonka, Minnesota 1938 establishments in Minnesota Customer loyalty programs Family-owned companies of the United States