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| Formerly |
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| Company type | listedSubsidiary | ||||||
| Nasdaq Stockholm: REZT | |||||||
| ISIN | SE0001857533 | ||||||
| Industry | Hospitality | ||||||
| Founded |
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| Founder | SAS Group | ||||||
| Defunct | 2018 | ||||||
| Fate | Renamed as Radisson Hospitality AB (part ofRadisson Hotel Group) | ||||||
| Successor | Radisson Hospitality AB | ||||||
| Headquarters |
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Number of locations |  369 hotels (2017) | ||||||
Area served | 78 countries of the world | ||||||
Key people |
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| Services | Lodging | ||||||
| Revenue | €967 million (2017) | ||||||
| €15 million (2017) | |||||||
 €4 million (2017) | |||||||
| Total assets | €513 million (2017) | ||||||
| Total equity | €254 million (2017) | ||||||
| Owner | Carlson Hotels, Inc. (69.7%) | ||||||
Number of employees | 5,033 (2017) | ||||||
| Parent |
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| Rating | B1 (Moody's, June 2018)[1] | ||||||
| Website | rezidor | ||||||
| Footnotes / references source: annual report (consolidated financial statements and other pages)[2] | |||||||
Rezidor Hotel Group AB, originallySAS International Hotels A/S and thenRezidor SAS Hospitality A/S,[3]Rezidor SAS Hospitality Group AB (publ),[4] was a listed hotel group company. Originally founded byScandinavian conglomerateSAS Group as a hotel in 1960, it became a listed company in 2006. The global headquarters of Rezidor relocated toBrussels, Belgium, circa 1989. The listed company managed hotel chains under brands such asRadisson SAS (now Radisson Blu),Park Inn, andCountry Inns & Suites. The brands were franchised from American hospitality and travel conglomerateCarlson Companies from 1994 (the Radisson brand) and 2002 (the other brands) respectively. In 2005, Carlson Companies acquired 25% of the shares of Rezidor Hotel Group from SAS Group. In 2007, SAS Group ceased to be a shareholder of the company.
In 2010, Carlson Companies acquired control (more than 50.1% shares) of the listed company. In 2012, Rezidor Hotel Group started to integrate with the directparent company (Carlson Hotels, Inc.), with both companies collectively known asCarlson Rezidor Hotel Group. Carlson Rezidor was one of the top hotel corporations in 2013.[5] Carlson Hotels, Inc. and its subsidiaries, including Rezidor Hotel Group, were sold to Chinese conglomerateHNA Group in 2016. Rezidor Hotel Group AB was then renamed to Radisson Hospitality AB. The direct parent company (Carlson Hotels, Inc.) became Radisson Hospitality, Inc., and the whole hotel group received a new trading name –Radisson Hotel Group. In 2018, Radisson Hotel Group was re-sold to a consortium led byJin Jiang International of China.
SAS Group, the flag carrier of Scandinavian countries, opened their first hotel in Copenhagen, Denmark in 1960.[6][7][8]: 379–380 The hotel, theSAS Royal Hotel, was the world's first designer hotel, which was designed byArne Jacobsen.[7][8]: 378–379 The hotel was initially under the catering division of the group.[8]: 379 The hospitality and catering division then became SAS Catering and Hotels.[8]: 379 In 1982, the hotels were spin-off as a separate division.[8]: 379 It became a subsidiary known as SAS International Hotels[6] in 1985.[8]: 379
FuturePresident andchief executive officer (CEO) of SAS International Hotels,Kurt Ritter [de], joined the company as a junior manager in 1976.[8]: 379 He was promoted as the president and CEO in 1989.[8]: 379 [9] According to theFinancial Times, he "lays claim to several innovations [in the hospitality business]".[10] He also struck a franchise deal for the company with Carlson Hotels in 1995, [sic] which made SAS International Hotels had "a decade of compound annual growth north of 20 per cent".[10]
Rezidor SAS Hospitality, was a company headquartered in Brussels, Belgium. As of January 2005, it was a wholly owned subsidiary ofSAS Group.[11][non-primary source needed] The subsidiary was known as SAS International Hotels until 2001.[7][8]: 380 The headquarters of the subsidiary was relocated to Brussels soon after Ritter became President & CEO of the subsidiary in 1989.[8]: 379
In April 2005, Rezidor SAS signed a partnership agreement with Carlson Hotels Worldwide, a subsidiary ofCarlson Companies.[11][non-primary source needed] The agreement included Carlson acquired 25% shares of Rezidor SAS, as well as Rezidor SAS acquired the rights to use the Carlson-owned brands, such asRadisson SAS,Park Inn,Regent andCountry Inns & Suites, in theEurope, the Middle East and Africa (EMEA) markets.[11][non-primary source needed] Rezidor SAS, at that time known as SAS International Hotels, signed a similar agreement in 1994 (1995 according to theFinancial Times[10] and Rezidor themselves[7]) with Radisson Hotels International, another subsidiary of Carlson Companies.[6] That agreement give birth of the hotel chain Radisson SAS.[6][7] Radisson SAS was known asRadisson Blu since 2009.[8]: 381 [12] The franchise agreement was renewed in 2002, which added three more brands: Park Inn, Regent and Country Inn in the new agreement.[7][8]: 380
In February 2005, Rezidor signed an agreement to convert seven formerHoliday Inn hotels in Germany to Park Inn: Park Inn Bochum, Park Inn Dortmund-City Centre, Park InnDüsseldorf/Kaarst, Park Inn Hanover, Park InnKamen/Unna, Park Inn Köln-Belfortstraße (Park Inn Cologne-Belfortstrasse) and Park Inn Cologne City-West.[13] However, six of the aforementioned hotels, except Cologne City-West, were converted toMercure brand ofAccorHotels in 2014.[14]
In 2005, Rezidor SAS opened four more Radisson hotels in the Republic of Ireland.[15] Two Park Inn hotels were also opened inDundalk andMulranny respectively in the same year.[16][17] However, Park Inn Dundalk was closed down in 2010.[18] The former Park Inn Dundalk was underRamada brand ofWyndham Hotels and managed by another company Lester Hotels since 2016.[19]
In February 2006, Rezidor opened a Park Inn hotel in Baku, the first Park Inn hotel in theCommonwealth of Independent States.[20]
In 2006, SAS Group floated Rezidor SAS Hospitality as Rezidor Hotel GroupAB (publ) on theStockholm Stock Exchange.[8]: 380 [21][22] The listed company is incorporated in Sweden.[23][non-primary source needed] After the listing, as of 2007, SAS Group ceased to be a shareholder of Rezidor Hotel Group, while Carlson Hotels Worldwide owned about 42% shares.[8]: 380 [24]
In the 2010s, Rezidor Hotel Group became part of a larger hotel group, whichtrading as Carlson Rezidor Hotel Group. Carlson Hotels increased its ownership ratio of the Rezidor Hotel Group to 50.1% in 2010[25] and then integrating the two hotel groups. In January 2012, it was announced that Carlson hotel group and Rezidor hotel group would runs hotels under one nameCarlson Rezidor Hotel Group.[26] In 2010, Carlson and Rezidor had already sold the brandRegent toFormosa International Hotels [zh].[27][28] The enlarged group, Carlson Rezidor Hotel Group, was one of the top hotel corporations in 2013.[5]
Carlson–Rezidor group was acquired by Chinese conglomerateHNA Group, via their division, HNA Tourism Group, in 2016[29] fromCarlson Companies.[30][31] The takeover also triggered a mandatory bid for the remaining shares of the listed company.[32] However, HNA Group re-sold Carlson–Rezidor group to a consortium led byJin Jiang International Holdings, another Chinese conglomerate.[33][34]
In May 2018, Rezidor Hotel Group, the listed company, was renamed to Radisson Hospitality AB (publ);[35][36][37] The Belgian subsidiary, was renamed to Radisson Hospitality Belgium SPRL/BVBA; The parent company, Carlson Hotels, Inc., was renamed to Radisson Hospitality, Inc. in the fourth quarter of 2017.[2][29][35][36] The trading name of the whole hotel group, including both Radisson Hospitality AB and Radisson Hospitality, Inc., was renamedRadisson Hotel Group.[29]
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