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Q3 2015: Rezidor Hotel Group reaches 100,000 rooms milestone

October 22, 2015 Hotel Developments No Comments Print Print Email Email

The Rezidor Hotel  Group, one of the world’s most dynamic hotel companies and a member of the  Carlson Rezidor Hotel Group, has reached 100,000 rooms in operation and under  development. ”This is a milestone in pursuit of our focussed long-term strategy.  Q3 2015 was a strong quarter for signings and openings – reflecting our pro-active  approach, and further fuelling our progressing turnaround journey”, commented  Wolfgang M. Neumann, President & CEO of Rezidor.

During the third  quarter, Rezidor contracted 12 hotels with 2,300 rooms mainly in emerging  markets and focus countries. Year-to-date signings increased to 7,000 rooms and  are well ahead of last year. Q3 key signings included Rezidor’s first  projects in Slovenia, Cyprus and Iraq (Kurdistan) and two more Radisson Blu  properties in Istanbul/Turkey consolidating Radisson Blu’s position as the  largest upper-upscale brand in the city. In Finland, Rezidor signed two more  projects with its partner SOK – their joint Radisson Blu portfolio in the  country now comprises of six properties.

Also Rezidor’s new  lifestyle select brand Radisson Red gained further momentum. Following the  signing in Cape Town/South Africa, Rezidor contracted Europe’s first new build  Radisson Red in Glasgow/UK. The first conversion in Europe in Brussels/Belgium  is on track for an opening in April 2016. On a joint Carlson Rezidor level  there are now eight Radisson Red hotels under development globally.

Q3 saw the opening  of nine hotels with 1,350 rooms which included market entries to Mauritius  (with two Radisson Blu resorts) and Congo. “We also opened two more hotels in  Russia despite the current business climate which we closely monitor. We remain  committed to this emerging market, unlock value for all stakeholders and the  communities in which we operate, and believe in the region’s long-term  potential”, said Elie Younes, Executive Vice President & Chief Development  Officer of Rezidor.

Rezidor’s asset  management initiatives in Q3 2015 resulted in the agreement for a group payment  of €1M to an owner of a leased hotel in the Nordics. In addition, Rezidor will support  a property improvement plan with ca. €1.5M over the next three years. The hotel  will continue to be operated as a Radisson Blu under a franchise contract, and  the annual EBIT improvement for Rezidor will represent ca. €1.2M.

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