Rezidor signs agreement to operate Regent hotels
Deal sees Rezidor exclusively developing and managing brand in region
Regent Hotels and Resorts (RHR), owned by Formosa International Hotels Corporation (FIHC), has signed a long-term Strategic Alliance Agreement with Rezidor to develop hotels in EMEA.
Under the agreement, Rezidor will exclusively operate and develop Regent hotels in the Middle East, Asia, the Baltics and CIS, while in Europe, it will be a partnership between the two to develop new properties.
"We are honoured to partner with Mr. Kurt Ritter and his team at Rezidor; the leading hotel operator in the EMEA region with special insight and experience with the Regent brand,” said chairman of Regent Hotels and Resorts Steven Pan.
“Our cooperation will further strengthen our growth strategy while RHR continues to focus on unique hotel residential mixed use projects in the region. Together we hope to significantly increase the Regent hotel portfolio and international network,” Pan added.
FIHC acquired RHR in 2010 from Carlson Rezidor and currently has developments underway in Abu Dhabi and Doha.
"We would like to thank Steven Pan and his team for their trust in Rezidor", said Rezidor president and CEO Kurt Ritter. "The acquisition of the Regent brand and business by Formosa in 2010 allowed us to focus on our core brands Radisson Blu and Park Inn by Radisson, and to strengthen our network in 70 countries across EMEA. A luxury brand was however never off our agenda, and we are delighted to complement our portfolio with Regent now.”