Radisson Hotel Group to bring Prizeotel to the UK
Radisson Hotel Group has revealed plans for continued growth of the group's midscale lifestyle brand Prizeotel, including bringing the brand to the UK market.
Throughout 2021, Radisson Hotel Group, with the support of its shareholders Jin Jiang and Sino-Ceef, has continued to roll out its five-year transformation plan and with 330 planned signings in 2022 in Europe, the Middle East and Africa (EMEA) and Asia-Pacific (APAC), has surpassed 2021, which was the company's most successful year for signings.
This year so far the group has signed and opening more than 50 hotels across its EMEA and APAC portfolio. For the rest of the year, the group plans to double its number of signings in EMEA by adding 45 properties, and increase its signings in APAC by adding 285 properties, with plans to double its global portfolio through growth in APAC by 2025, also with a particular focus on its midscale and lifestyle Prizeotel brand.
Prizeotel is a design and technology-focused midscale and lifestyle brand located in urban areas, offering convertible, flexible spaces. The group plans to expand its existing Prizeotel portfolio with 45 new signings in select EU countries in the next five years, as well as the UK.
Federico Gonzalez, chief executive of Radisson Hotel Group, said "Thanks to our five-year strategic plan, we quickly put in place all the necessary tools for a swift rebound which resulted in increased bookings since the start of the year, as leisure travelers sought to make up for the last two years, and a successful end to 2021 with the most signings in the company's history."
Elie Younes, global chief development officer, Radisson Hotel Group, added: "We continue to fine tune our brand offering to ensure that we remain relevant to owners, investors, and guests. Our approach is agile, flexible, and responds swiftly to changing market demands, as seen with our Radisson Individuals brand which has delivered fantastic growth and will continue to drive growth numbers in 2022."
Younes told The Caterer in 2018 that there were plans for Prizeotel's debut in the UK.
