BRUSSELS-Brussels-based Rezidor Hotel Group has sealed a management agreement with Norwegian real estate developer Linstow for 10 Reval hotels in Latvia, Estonia, Lithuania and Russia, and has also announced further new hotels in Russia.
The agreement with Linstow includes three hotels in Riga, two in Tallinn, two in Vilnius and one each in Kaunas, Klaipeda and St. Petersburg, adding 2,367 rooms to Rezidor’s portfolio. Six hotels will be rebranded as Radison Blu and four as Park Inn.
Rezidor also announced two projects in Russia’s ski region of Krasnaya Polyana, 50 kilometers east of Sochi, where the Olympic Winter Games will be held in 2014. The 180-room Radisson Resort Rosa Khutor and 200-room Park Inn Resort Rosa Khutor are both due to open in 2012. The two will be located in the 537 hectare Rosa Khutor Alpine Ski Resort, a $1.4 billion development to ski runs and capacity for 10,500 people.
Additionally, Rezidor announced the 164-room Park Inn Voronezh in southwest Russia, due to open in 2013. This hotel is part of a strategic agreement between Rezidor and the Russia-based Regional Hotel Chain comprising 20 future Park Inn properties across Russia. Rezidor, listed on Nasdaq OMX Nordic Exchange, is among the five largest hotel management companies with over 390 hotels and 83,000 rooms in 62 countries in Europe, Middle East and Africa.
Allan Saunderson is a managing editor of Property Investor Europe and a contributor to GlobeSt.com.
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