2013-01-08 12:03:34 -
The Rezidor Hotel Group today announced the conversion of two lease agreements,
the Park Inn by Radisson Malmö and the Park Inn by Radisson Hammarby Sjöstad, in
Sweden to franchise agreements.
Combined, the two hotels comprise more than 400 rooms and will remain under the
Park Inn by Radisson brand. Ligula Hospitality Group AB will purchase the shares
of the company which holds the lease agreements, Rezidor Hotel AB which will
operate the hotels under franchise agreements beginning in Q1-2013. The shares
will be purchased for a symbolic 1 EUR, while the net assets of the company are
0.9 MEUR. The 2012 forecasted EBITDA losses for the hotels are a combined MEUR
Ligula Hospitality Group has over 375 employees and MEUR 45 in annual revenue.
The group holds several local
brands and among them is ProfilHotels with 10
hotels in Sweden and Denmark.
"Converting these hotels from leases to franchise agreements is in line with our
asset-light strategy and our increasing focus on fee-based business", says
Wolfgang M. Neumann, President & CEO at Rezidor. "In addition, we are delighted
to partner with ProfilHotels, which is a highly successful and experienced
operator and capable of managing these hotels at the highest level".
The information here is that which Rezidor Hotel Group AB has willingly chosen
to make public or that which it is obliged to make public according to the
Swedish Securities Market Act and/or the Financial Instruments Trading Act.
For further information, kindly contact:
Knut Kleiven, Deputy President and CFO
+32 2 702 9244, firstname.lastname@example.org
Ebba Vassallo, Director Investor Relations
+32 2 702 9286, email@example.com
About the Rezidor Hotel Group
The Rezidor Hotel Group is one of the fastest growing hotel companies worldwide
and a member of the Carlson Rezidor Hotel Group, one of the world's ten largest
hotel groups. Rezidor features a portfolio of more than 430 hotels in operation
and under development with 95,000 rooms in 70 countries. Rezidor operates the
brands Radisson Blu and Park Inn by Radisson in Europe, the Middle East and
Africa, along with the Club Carlson(SM) loyalty programme for frequent hotel
guests. Under a worldwide licence agreement with the iconic Italian fashion
house Missoni, Rezidor also operates and develops the luxury lifestyle brand
Hotel Missoni. In September 2012, Rezidor signed a strategic alliance agreement
with Regent Hotels & Resorts to develop and operate Regent properties in Europe,
the Middle East & Africa.
Since November 2006, Rezidor is listed on the Stockholm Stock Exchange (REZT).
Carlson, a privately held, global hospitality and travel company, based in
Minneapolis (USA), is the majority shareholder.
The Corporate office of The Rezidor Hotel Group is based in Brussels, Belgium.
For more information, visit www.rezidor.com.
Press release PDF:
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Source: Rezidor Hotel Group via Thomson Reuters ONE