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

April 19, 2016 Hotel Developments No Comments Email Email

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.

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