Rezidor reports record year of organic growth: signing of 45 hotels with 8,200 rooms
The Rezidor Hotel Group saw strong growth momentum in 2016, adding 45 new hotels totaling 8,200 rooms to its solid pipeline, and opening 18 hotels with nearly 3,600 rooms. |
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Rezidor reports record year of organic growth: signing of 45 hotels with 8,200 rooms
The Rezidor Hotel Group saw strong growth momentum in 2016, adding 45 new hotels totaling 8,200 rooms to its solid pipeline, and opening 18 hotels with nearly 3,600 rooms. |
Category: Worldwide - Industry economy
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This is a press release selected by our editorial committee and published online for free on 2017-02-07
Rezidor remains focused on its asset-light strategy, concentrated on fee-based business and sustainable development in Europe, the Middle East and Africa (EMEA).
A milestone year
“2016 was a milestone year for organic growth with 45 transactions, of which 75% are already under construction,’’ said Elie Younes, Executive Vice President & Chief Development Officer of Rezidor. “We also grew laterally with the acquisition of a significant stake in prizeotel, our new disruptive economy brand which is now on an ambitious journey.’’ In Q4, Rezidor expanded in key cities of Eastern Europe with eight signings spread across the region including Lithuania, Russia, Ukraine, Georgia, Romania and Turkey. In Africa, clearly strengthening its position as a leading international hotel operator on the continent, Rezidor signed 10 hotels in 2016. Notable deals include the portfolio of five Park Inn by Radisson hotels in Angola, the first Quorvus Collection in Nigeria, and expansion with Radisson Blu into Zimbabwe and Cape Verde. “2016 also saw Rezidor bringing the world’s first Radisson RED to Brussels, Belgium. Following this successful launch and a bespoke event with key owners, we have been able to grow the pipeline of this bold lifestyle select brand in urban destinations. Recent signings include four new Radisson RED hotels in Jeddah, Dubai, Vilnius and Tbilisi, with more to be announced soon. Our next opening will be the most awaited Radisson RED Waterfront in Cape Town, South Africa,” added Younes.
Strategic openings in high potential markets
In 2016, Rezidor opened 18 hotels representing nearly 3,600 rooms. The Group continued to expand into new markets with the openings of Radisson Blu Hotel, Abidjan Airport, Ivory Coast; Radisson Blu Hotel & Convention Center Kigali, Rwanda; and Radisson Blu Hotel 2 Février in Lomé, Togo. All new openings are asset-light, fee-based business. A number of openings in emerging markets were, however, delayed. In addition, three new prizeotel properties joined the Rezidor family. “We thank all our partners for their trust in our people and brands. While we maintain our leading position with the largest network of upper-upscale hotels in Europe with Radisson Blu, we now expand this position to Africa. We have more hotel rooms under development than any other operator, and are humbled to have an unmatched track record of organic growth on the continent, having opened 12 properties on the continent in the last 24 months,” commented Younes.
Balancing and innovating
Building on its strong legacy in Europe, Rezidor also opened a new Radisson Blu hotel in Mannheim, Germany, and its second resort property in the Canary Islands with the five-star Radisson Blu Resort & Spa Gran Canaria Mogan. “Innovation is high on our growth agenda, and this was reflected in our acquisition of the disruptive start-up: prizeotel. In 2017, we will continue offering our guest and investment partners alternative opportunities to experience and invest in. This ultimately unlocks value to our shareholders and stakeholders,” ended Elie. Rezidor now offers an entire spectrum of carefully selected hospitality segments from luxury to upper-upscale, lifestyle, mid-scale and economy.
About The Rezidor Hotel Group
The Rezidor Hotel Group is one of the most dynamic hotel companies in the world. The group features a portfolio of approximately 475 hotels in operation or under development with 104,000 rooms in more than 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 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.
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