Rezidor to Develop Regent Hotels in Russia, Middle East, Africa
By James Ruggia
September 18, 2012 10:54 PM
Regent Hotels and Resorts (RHR), wholly owned by Formosa International Hotels Corporation (FIH), signed a long-term strategic alliance agreement for the Regent brand with Rezidor Hotel Group AB. Effective immediately, Rezidor will exclusively develop and operate Regent hotels in Russia/CIS, the Baltics, Middle East and Africa; and jointly with RHR will develop and operate new Regent hotels in the rest of Europe. Regent will continue operating existing Regent hotels in Europe.
Formosa International Hotels Corporation acquired the Regent brand and business in 2010 from Carlson and Rezidor, and since then Regent has refined its Asian hospitality in order to position Regent at the forefront of the international five-star hotel market. With this strategic alliance, Regent will continue to focus primarily on mixed-use development projects combining luxury hotels with branded residential components in the EMEA region. RHR currently operates Regent hotels in Beijing, Berlin, Taipei, Turks & Caicos and Zagreb. Projects under development include properties in Abu Dhabi, Bali, Doha, Kuala Lumpur, Montenegro and Phuket.
“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,” said Kurt Ritter, president and CEO of Rezidor. “A luxury brand was however never off our agenda, and we are delighted to complement our portfolio with Regent now.”