Rezidor SAS Hospitality: 2005 and 2006 on course for explosive growth
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Rezidor SAS Hospitality: 2005 and 2006 on course for explosive growth
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Category: Worldwide -
This is a press release selected by our editorial committee and published online for free on 2006-04-12
ezidor SAS Hospitality is on course for continued success: in 2005 the company generated Group earnings of Euro 587 million, up 17.7% from 2004. Some 37 new sites were opened, including the architecturally unique Radisson SAS Hotel Frankfurt, which has been furnished by star designers Matteo Thun and Adam D. Tihany. Another of the year’s high points was the licence agreement with the Italian fashion house Missoni, with whom a new brand of lifestyle hotels called “Hotel Missoni” will be developed. Rezidor SAS Hospitality will be continuing its expansion in 2006 with a special focus on Russia, the rest of the CIS, and Eastern Europe. The Group intends to be operating a total of 700 hotels by the year 2015.
2005 was a successful year for Rezidor SAS Hospitality. The company now runs 271 hotels in 49 countries and posted Group earnings of Euro 587 million (17.7% higher than 2004) and pre-tax profits of Euro 31.6 million (compared with Euro 4.2 million in 2004). The major factor behind this financial development was an 11% rise in the revenue per available room (RevPAR now at Euro 67).
“Rezidor SAS is one of the world’s fastest-growing companies in the hospitality management business,” points out Kurt Ritter, President & CEO of Rezidor SAS Hospitality. “The Group has a comprehensive portfolio of brands, and has proved a high-yield investment for our partners.” The Group signed contracts for 29 new hotels in 2005 (15 Radisson SAS & Park Inn hotels were opened at the turn of the year alone), yielding almost 5,000 more rooms: “In terms of this figure, we grew by 16% in 2005,” says Ritter, “which is the fastest organic growth rate in the European hotel sector as a whole.”
The opening of nine mid-market-segment Park Inn hotels in Britain was an important move which enabled the brand to expand its presence and profile in the United Kingdom. By the end of 2006, Rezidor SAS will be operating a total of 100 Park Inn hotels (hotels newly opened and contracts signed). With the opening of Park Inn hotels in Ekaterinburg and Baku this year, Rezidor SAS positioned itself as a multi-brand hotel company in Russia and CIS with dynamic future development strategy for this fast developing mid-market product.
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