Q1 2016: Rezidor enters economy segment, and accelerates signings and openings

18 Apr 2016

Rezidor_Skyline_2016 (1).jpgGroup signs 13 hotels with 2,000 rooms and opens 7 hotels with 1,000 rooms

The Rezidor Hotel Group, one of the world’s most dynamic hotel companies and part of the Carlson Rezidor Hotel Group, reports a strong first quarter for business development: in Q1 2016, the Group entered the economy segmend through the acquisition of a 49% stake of prizeotel, and further accelerated the momentum for signings and openings. Rezidor signed 13 projects with 2,000 rooms and opened 7 hotels with 1,000 rooms.

Acquisition of prizeotel
 ”The acquisition of prizeotel was a milestone for Rezidor. It complements our brand portfolio, facilitates our responsiveness to changing guest expectations, and allows us a fast-paced entry into the increasingly attractive economy sector”, commented Elie Younes, Executive Vice President & Chief Development Officer of Rezidor. Prizeotel is a dynamic and innovative start-up company with currently 3 operating properties and 1 hotel under development in Germany – all created by New York-based industrial designer Karim Rashid. ”We will initially grow the German network and target key cities in Austria, Switzerland and BeNeLux.The investment proposition further unlocks value to our partners through fixed-income lease or management contracts and limited development risk through a turn-key construction solution”, added Younes.

Expansion of Radisson RED network
 In Q1 2016, Rezidor also continued to drive signings and openings. The 13 signings included a portfolio deal with 3 hotels in Riga/Latvia – further strengthening the Group’s position as leading international hotel operator in Russia/CIS & Baltics. With the addition of 2 Radisson RED projects in Jeddah/Saudi Arabia and Dubai/UAE, Rezidor expanded the brand network in Europe, Middle East and Africa to 5 hotels. The Group’s strategic partner Carlson develops 9 further projects in the Americas and Asia-Pacific. ”Radisson RED is an exciting lifestyle offer inspired by the millennial mindset – and sees great interest on the investment and development market. The brand roll-out is gaining speed, and we aim to reach 60 hotels globally by 2020”, said Younes. The world’s first Radisson RED opens today in Brussels, Belgium.

100 franchise hotels
 Rezidor’s Q1 openings featured the Group’s 100th franchise property and the very first hotel in Ivory Coast, the Radisson Blu Hotel Abidjan Airport. More than 60% of all openings were located in emerging markets – solidifying Rezidor’s long-term strategy of profitable, asset-light and sustainable growth with a specific focus on emerging markets.

 

For further information please contact:
 Christiane.Reiter@rezidor.com
 Renu.Snehi@rezidor.com

 

About The Rezidor Hotel Group:
 The Rezidor Hotel Group is one of the most dynamic hotel companies in the world and a member of the Carlson Rezidor Hotel Group. The group features a portfolio of 450+ hotels in operation and under development with 100,000+ rooms in 80 countries.

Rezidor operates the core brands Radisson Blu and Park Inn by Radisson in Europe, the Middle East and Africa (EMEA),along with the Club Carlson loyalty programme for frequent hotel guests. In early 2014 and together with Carlson, Rezidor has launched the new brands Radisson RED (lifestyle select) and Quorvus Collection (luxury). Rezidor has an industry-leading Responsible Business Programme and was awarded one the World's Most Ethical Companies by the US think tank Ethisphere.

In November 2006, Rezidor was listed on the Nasdaq Stockholm, Sweden. Carlson, a privately held global hospitality and travel company, based in Minneapolis (USA), is the majority shareholder.

The corporate support office of The Rezidor Hotel Group is based in Brussels, Belgium.
 For more information, visit www.rezidor.com.