Radisson Hospitality AB completes acquisition of prizeotel
Radisson Hospitality AB (publ) today announced that the group has exercised its rights to acquire full ownership of the shares in prizeotel.
In 2016, Rezidor had entered the company with the acquisition of a 49% stake in the business, and further rights to acquire the remaining 51% within four years.
Federico J. González, President & CEO of Radisson Hospitality AB says: “We believe in the prizeotel team, business model and brand value proposition for investors and guests. The prizeotel team has done a fantastic job over the past few years growing the pipeline to four hotels in operation and 16 under development in strategic German-speaking countries. We believe that the company and its team members have a brilliant future ahead, and we count on continuing to work together to grow the momentum. We would like to also thank all other shareholders for all their involvement and commitment to expand and build the brand.”
Looking ahead, Radisson Hospitality AB through its subsidiaries is in discussion with third-party investors who would eventually join them to further build on the success of the prizeotel team, brand and business model.
For further information, contact:
Lucie Cardona, Director, Corporate Communications