Rezidor SAS Announces Ambitious Expansion Plans for its Country Inn brand in Russia
Brussels -- Rezidor SAS Hospitality announces it will enter the mid-market segment in Russia, and expand its presence to about 50 hotels over a period of 8-10 years. In a joint venture with Delta Capital Management (manager of The U.S. Russia Investment Fund), Sweden's Swedfund and Denmark's IØ (The Investment Fund for Central and Eastern Europe), Rezidor SAS will initially target main cities like Moscow and St. Petersburg and other key regional capitals. The objective is to add about 8 hotels in the next three years.
Country Inn is a mid-market alternative for business and leisure travelers who want a high level of comfort and value for their money. The country culture, with its cozy atmosphere and friendly staff, is crucial to the concept. There are currently more than 325 Country Inn hotels across the U.S. and Europe.
"While Russia offers tremendous growth opportunities, its mid-market hotel segment remains widely underserved. There is a growing demand for affordable, quality accommodations operated by an international hotel chain under an identifiable brand name. We believe that the market is there and the timing is right to expand this brand within the vast Russian Federation," said Kurt Ritter, president & CEO of Rezidor SAS Hospitality.
There are currently 5 full-service, upscale Radisson SAS hotels in Russia. Rezidor SAS is the leading international hotel company in that segment.
Rezidor SAS Hospitality is the master franchise holder for the Radisson SAS, Regent, Country Inn and Park Inn brands in Europe, the Middle East and Africa. The company currently operates 126 Radisson SAS Hotels & Resorts with over 37 properties under development. The Radisson SAS portfolio now extends to 40 countries.
Rezidor SAS has held the Radisson master franchise since 1994. Regent, Country Inn and Park Inn joined the portfolio in 2002. Rezidor SAS operates two Park Inn Hotels: Berlin, Germany (1), Cape Town, South Africa (1), 12 Country Inn Hotels located in Europe: in the United Kingdom (2), Germany (7), and Austria (2), including the recent opening at Charles de Gaulle Airport, Paris, France. There are currently two Regent hotels: Berlin, Germany (1) and Almaty, Kazakhstan (1). The company projects that it will have 700 hotels across all brands, operating within the EMEA region by 2012. Rezidor SAS is a wholly owned subsidiary of the SAS Group.
Emily Easter
212-219-7560, ext. 6768
Radisson Hotel Group
