Radisson Hotel Group has announced a new strategic joint venture for operating hotels in Germany and Austria. This new partnership with local partners will bring new opportunities for Radisson Hotel Group to accelerate growth.
The group plans to boost their roll-out of the Radisson and Radisson RED brands in the German speaking region of Germany, Austria and Switzerland. The venture will begin with the signing of the 224-key Radisson Hotel Leipzig, which will be developed by Fay projects GmbH and operated by the newly founded Fast Lane Hospitality GmbH, and is slated to open in 2022.
Elie Younes, Executive Vice President & Chief Development Officer, Radisson Hotel Group said:
We aim to remain relevant to owners and investors and this new venture is a testament of our commitment. The German market is becoming increasingly versatile and requires an unconventional approach to accelerate growth. We look forward to a successful journey with our partners and to unlock value to various stakeholders through this venture.
Wolfgang Heid, Président du Directoire et CEO de la FAY Projects GmbH pointed out:
Leipzig is about to join Germany's 'Big Seven' cities, so our hotel development in a central downtown location comes at a rather opportune time, especially because hotel accommodation in the trade fair city continues to grow at an annual rate of around five percent.
FAY Projects GmbH specializes in the development of urban construction projects and stands for the creation of sustainable real estate assets. The company has the expertise and know-how of more than five decades with over 100 successfully completed real estate projects. The management attaches great importance to a sustainably shaped and grown corporate culture.
When its doors open in 2022, the Radisson Hotel Leipzig will provide Scandinavian-inspired hospitality in a creative, historic city of Leipzig, which ranks among the top 10 cities in Germany chosen by travelers.
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