Following its 2021 milestone as the most successful year to date for signings, Radisson Hotel Group is showing no signs of slowing down. It has achieved continued growth in 2022 and expects the same for 2023. The group aims to double its portfolio to over 2,000 hotels in EMEA and APAC by 2025, and the development of its brands across the UK & Ireland is paramount.
A significant development is the announcement that the prizeotel brand will be introduced to the UK & Ireland, marking Radisson Hotel Group’s eighth brand in the market. prizeotel offers owners and investors new build opportunities or easy conversion solutions and guarantees a high-design focused brand for lifestyle travellers in vibrant urban locations. The midscale lifestyle brand is expected to open its doors in top cities and strategic destinations in the UK & Ireland. With 19 hotels open and in the pipeline in countries including Germany, Austria, Belgium and Switzerland, and plans to expand the portfolio with 45 new signings in the next five years, the brand remains a key growth driver for Radisson Hotel Group in the wider EMEA market.
prizeotel represents an exciting alternative to conventional hotel brands in the midscale segment for investors. As part of its new expansion strategy, Radisson Hotel Group offers flexible contractual solutions with lease, management and franchise agreements. The optimised design concept is suitable both for conversions of existing hotels and for new developments. A high degree of space efficiency (16m² guest room) and smart FF&E solutions enable construction costs to be achieved at economy level, with the cost for a new project at approximately £75,000 per room, including FF&E and OS&E. The operating concept is lean, so that GOP margins of over 50% can be achieved, depending on the market. As a result, prizeotel combines the revenue level of a midscale lifestyle hotel with the efficiency of the economy segment – a unique value proposition for hotel investors.
Adela Cristea, Vice President, Business Development UK & Ireland, Radisson Hotel Group, said: “Our UK & Ireland portfolio is going from strength to strength. The launch of prizeotel will mark the introduction of our eighth brand to the market. Travelers coming to the UK & Ireland are looking for tech-savvy and high-design properties and prizeotel will be the perfect fit for them.”
Amongst Radisson Hotel Group’s existing UK based brands is the upper upscale, and undoubtably fun, Radisson RED, which also has exciting additions in store for some of UK’s most popular cities. In the coming weeks, Radisson RED Liverpool is set to make a splash in the hotel space, taking over the historic North Western Hall connected to Liverpool Lime Street train station, seeing the Grade II listed building restored and revamped to fit the creative Radisson RED brand. The hotel will include historic features, such as a rediscovered secret doorway and a grand, sandstone staircase.
Not only situated in buzzing cities, Radisson RED also has presence at the UK’s busiest airport with Radisson RED London Heathrow, which is part of the UK’s first dual-branded property, with 258 Radisson RED guest rooms and 637 Radisson guest rooms. The hotel offers guests a restaurant, bar and leisure club as well as large events spaces with two multi-purpose conference centres and 41 meeting rooms. Each Radisson RED property incorporates local art, music and fashion within its design. The eye-catching entrance at London Heathrow includes a Mini Cooper car and iconic red phone boxes that serve as self-check in terminals as a nod to England’s capital, creating a memorable arrival.
Radisson Hotel Group’s core brand, Radisson Blu, has been named the largest upper-upscale brand for the past 11 years*. It has presence in leading European cities such as Frankfurt, Stockholm, Copenhagen, Barcelona and Nice, and in the UK in Edinburgh, Glasgow, Birmingham and Leeds to name a few. Recent additions to the UK portfolio include Radisson Blu Hotel, Perth, in Scotland, and Radisson Blu Hotel, Sheffield, set to open at the end of 2023. Housed within the striking Victorian architecture of Pinstone Street, the property is a key part of Sheffield’s city centre transformation.
To stay up to date with Radisson Hotel Group’s latest news, openings and exciting destinations, visit www.radissonhotels.com
*Source: MKG Hospitality-ON