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Rezidor invests in an economy brand

Rezidor Hotel Group announced the acquisition of 49% of shares in Prizeotel, a German hotel chain positioned on the economy market.

Rezidor Hotel Group is strengthening its supply by taking over an economy hotel chain. The hotel group acquired 49% of shares in de Prizeotel for 14.7 million euros, while guaranteeing the takeover of the remaining 51% in the next four years. Once the transaction has been finalized, in the course of the upcoming weeks, Rezidor and Prizeotel will work together to develop on the brand's development, sales, marketing and distribution.

Launched in 2009, Prizeotel is a young German hotel brand positioned on the economy segment, it currently has three hotels in northern Germany, located in the cities of Bremen, Hamburg and Hanover. Another address is already under development to strengthen this portfolio, and an extension of the Hamburg will be built. The brand stands out in particular for its innovative urban design, the emphasis it places on the use of new technologies to improve the customer experience, the personal touch of its supply and the way it manages its staff.

This acquisition thus marks the The Rezidor Hotel Group foray onto the economy market, strengthening its supply of 555 rooms positioned on the segment and already operational.

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