Radisson Hotel Group’s midscale lifestyle brand – prizeotel – continued its growth in 2022 with 3 new openings. It intends to grow its portfolio of 16 hotels with 45 new signings planned over the next five years.
prizeotel’s 2022 openings took place in Bonn, Vienna, and Münster. prizeotel Bonn-City is a 214-key new build located on the Rhine, complete with a terrace and sky bar. It also holds DGNB Gold status. The 293-room prizeotel Vienna-City forms part of the Quartier Belvedere and is situated beside Vienna Central Station. prizeotel Münster-City boasts 195 guestrooms and is connected directly to Münster Central Station.
For 2023, it has announced new hotel openings in Dortmund and Dresden. Starting this year, the brand has also stated that all stays in its properties will be 100% carbon-free. Hotels will keep the prizePromise, implementing Hotel Sustainability Basics, to align themselves with RHG’s sustainability strategy to achieve Net Zero by 2050. Henceforth, new builds will be certified green buildings and all conversions will have a focus on improving the site’s environmental performance.
The first prizeotel opened in 2009 in Bremen, and the brand is now present in Germany, Austria, Switzerland, and Belgium. Its 16 properties represent more than 3,200 rooms. Its future growth plans are set to have a special focus on the Irish and British markets.
We are looking forward to expanding our prizeotel in 2023 with a focus on Germany and the UK. The brand witnessed strong investor interest due to its optimised investment model, its lifestyle offering, as well as its sustainability programmes. We aim to more than double the current portfolio in the next five years.
Elie Younes, Executive Vice-President & Global Chief Development Officer at Radisson Hotel Group
prizeotel represents an exciting alternative to conventional hotel brands in the midscale segment for investors, by offering flexible contract solutions with lease, management, and franchise agreements. The optimised design concept is suitable both for conversions of existing hotels and for new developments. 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, which has proven a unique value proposition for hotel investors.
Connor Ryterski, Managing Director of prizeotel