US: Radisson Hotel Group plans to more than double its EMEA serviced apartment portfolio within the next five years.
Serviced apartments currently represent around 10 per cent of the Group’s EMEA portfolio with 45 properties and more than 5,400 units in operation and under development.
Elie Younes, EVP and chief development officer at Radisson Hotel Group said: “For many years we have explored the strong demand for serviced apartments and extended stay products by recognising it as an attractive risk-adjusted investment proposition that has considerable growth potential. Given its relevance to the current economic climate, this value proposition has recently been further defined in our portfolio, offering a holistic concept with more opportunities for our investors and more possibilities for our guests. We commit to stay relevant to all our stakeholders.”
Serviced apartments will be developed as a brand extension of the existing Radisson brand portfolio to cater to the different segments from midscale to luxury.
Radisson’s serviced apartment pipeline includes new openings in Paris, Amsterdam, Dubai, Istanbul, Larnaca, Cortina, Cairo, Riyadh and Germany.
