Rezidor opens 28 new hotels and signs 7,500 rooms in 2017
The Rezidor Hotel Group maintained strong portfolio growth throughout 2017, adding 24 new hotels with more than 7,400 rooms to its pipeline. At its 2017 Investors Day, as part of its ambitious 5-year operating plan, the group announced a renewed asset-right strategy, focusing on rejuvenating mature markets while accelerating its fee-based business in emerging markets. The group allocated EUR 80 million in industrial investments to accelerate growth in key gateway cities.
“2017 noted strong organic growth with 24 single asset transactions, of which 75% are already under construction,” said Elie Younes, Executive Vice President & Chief Development Officer of The Rezidor Hotel Group. “While we continued our expansion in emerging markets, notably in Africa and the Middle East, we slowly adjusted our strategy throughout the year by adding new hotels in key European gateway cities like Geneva and Venice where Radisson Blu remains the largest upper upscale brand.”
“Last year saw the 49% acquisition of prizeotel to cater for budget-conscious guests looking for a true design experience,” added Younes. “This year we initiated the growth of the brand with additional key signings in Germany, Austria and Switzerland, which have brought this start-up brand from three hotels last year to almost ten hotels in development and under construction today.”
In 2017, Rezidor opened 28 hotels with more than 5,000 rooms. Notable openings of last year included Radisson RED in Cape Town, the Park Inn by Radisson property at Brussels Airport and four new Radisson Blu properties in Saudi Arabia and Dubai.
“Our 5-year plan focuses on organic growth that is balanced between emerging and mature markets, the launch of our new brand architecture, a shift from asset-light to asset-right in our business model and a promise to become more relevant to our owners,” ended Younes.
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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 479 hotels with over 106,000 rooms in operation or under development in 79 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 program for frequent hotel guests. In early 2014 and together with Carlson, Rezidor launched the new brands Radisson RED (lifestyle select) and Quorvus Collection (luxury). In 2016, Rezidor acquired 49% of prizeotel. Rezidor has an industry-leading Responsible Business Program and was named one the World's Most Ethical Companies by the US think-tank Ethisphere.
In November 2006, Rezidor was listed on the Nasdaq Stockholm, Sweden. HNA Tourism Group Co., Ltd., a division of HNA Group Co., Ltd. — a Fortune Global 500 company with operations across aviation, tourism, hospitality, finance and online services among other sectors – became the majority shareholder in December 2016.
The Rezidor Hotel Group and its brands employ 43,700 people in EMEA and is headquartered in Brussels, Belgium.