Radisson Hotel Group has outlined plans to expand its lifestyle Prizeotel brand, including its introduction into the UK market.
Radisson (then known as Rezidor) purchased a 49 per cent stake in Prizeotel in 2016, and has since acquired the remainder of the brand.
At the time there were just three Prizeotel properties hotels in operation in Germany – this has grown slowly to around ten hotels, with another half a dozen set to open by 2023 according to the prizeotel.com website.
The group says it now plans “to expand its existing Prizeotel portfolio with 45 new signings in select EU countries in the next five years, as well as introduce the brand to the UK”.
Radisson describes Prizeotel as “a value engineered, high-design-focused brand for tech-savvy, connected midscale lifestyle travellers in vibrant, urban locations offering convertible, flexible spaces”.
The news came as Radisson Hotel Group announced plans to sign 330 hotels this year across the EMEA and APAC regions.
The group is also targeting the doubling of its Radisson Individuals brand by 2025.
The collection of independent properties was launched in 2020 and currently has around 55 hotels either in operation or under development.
Commenting on the news Elie Younes, global chief development officer, Radisson Hotel Group, said:
“Our brands, shareholders, people, and Yes I Can attitude are key strengths of Radisson Hotel Group. We continue to finetune 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.
We are looking forward to our exponential expansion in Asia Pacific and continuing our successful journey in EMEA which now also includes the roll out of Prizeotel in key European cities.”