Hotel Brands

Radisson to expand serviced apartments portfolio across EMEA

Radisson Hotel Group has announced new plans to “more than double” its serviced apartments portfolio across the EMEA region over the next five years. 

Its serviced apartments currently represent around 10% of the group’s EMEA portfolio, with 45 properties and more than 5,400 units in operation and under development. 

The group operates its serviced apartments as either a stand-alone or a mixed-use development in combination with a traditional hotel operation. 

Looking ahead, serviced apartments will be developed as a brand extension of the existing Radisson Hotel Group’s brand portfolio to “cater to the different segments from midscale to luxury”.

The expansion plan will offer studios as well as one-bedroom and two-bedroom apartments with a fully equipped kitchen, en-suite bathroom, 24-hour reception, housekeeping services, social and communal spaces, food and drink options and a range of leisure facilities.

Elie Younes, executive vice president 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 recognizing 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.”

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