Rezidor announces €7 million renovation program for Radisson Blu, Cologne following 10-year lease extension with Invesco
The group signs a 10-year lease extension with Invesco in Cologne and reopens Lyon after a 3-year long full refurbishment
Brussels, Belgium, 2016-Oct-21 — /Travel PR News/ — The Rezidor Hotel Group announces the successful negotiation of a ten-year extension of the lease with Invesco Real Estate Fund. The deal will allow the iconic Radisson Blu hotel brand to remain a tenant for the next twenty years at Messe-Kreisel 3, Invesco’s landmark property in Cologne. As per the lease, the 393-room hotel will benefit from a €7million renovation program, bringing the best of the Radisson Blu interior design scheme to town.
Rezidor’s Senior Vice President of Asset Management, Philippe Dejonghe explained: “The contract is a win for our business, for the landlord and for the city of Cologne. Invesco has a long term commitment with Rezidor, and we have strengthened that relationship further by showing our commitment to Cologne as a city, and as a showcase of our global upper-upscale brand, Radisson Blu. Radisson Blu Hotel, Cologne is a landmark on its own, and has won several awards and accolades since its opening in 2003. Our renewed agreement with Invesco allows us to renovate and to reposition the property to continue offering the best of Radisson Blu’s hospitality in Cologne.”
The Radisson Blu, Cologne is located close to the city center, walking distance to the trade fair (Koelnmesse), congress facilities (Kölnkongress) and Lanxess arena and 15 minutes’ drive to the airport. The hotel has 393 rooms, two restaurants, one bar, 11 meeting rooms (950m2), gym/sauna and 164 underground parking spaces.
The news of the Cologne contract restructuring comes at an opportune time, as Radisson Blu recently re-opened its newly renovated landmark hotel in the heart of Lyon, earlier this month. This 40-storey tower, locally known as “Le Crayon” is the tallest building in Lyon (and second largest urban area in France).
The hotel reopens after a 3-year long complete refurbishment, which is the result of a co-investment of €40million between the hotel owner Hibernia France and The Rezidor Hotel Group, to create a world class hospitality experience in the culinary capital of France.
Philippe Dejonghe commented on the company’s approach to investment: “These renegotiations and related renovations form part of Rezidor’s wider asset management strategy. Although leases may be viewed as a liability on account, our management remains committed to investing in our core markets and trophy assets across Europe. When leased hotel properties are due for renewal, we take a view on what is best for the business, using our experience and expertise to fairly assess risk levels against opportunity and potential for profitability.”
For more information on the above mentioned hotels, please visit:
www.radissonblu.com/en/hotel-cologne
www.radissonblu.com/en/hotel-lyon
For further media information please contact:
Lucie Cardona, Corporate Communications & PR Leader
lucie.cardona@carlsonrezidor.com
Jonathan Astle, Corporate Communications & PR Leader
jonathan.astle@carlsonrezidor.com
About The Rezidor Hotel Group
The Rezidor Hotel Group is one of the most dynamic hotel companies in the world and a member of the Carlson Rezidor Hotel Group. The group features a portfolio of approximately 475 hotels in operation or under development with 104,000 rooms in over 80 countries.
Rezidor operates the core brands Radisson Blu and Park Inn by Radisson in Europe, the Middle East and Africa (EMEA),along with the Club Carlson loyalty program for frequent hotel guests. In early 2014 and together with Carlson, Rezidor has launched the new brands Radisson RED(lifestyle select) and Quorvus Collection (luxury). Since 2016, Rezidor also owns 49% of prizeotel. Rezidor has an industry-leading Responsible Business Program and was awarded one the World’s Most Ethical Companies by the US think tank Ethisphere.
In November 2006, Rezidor was listed on the Nasdaq Stockholm, Sweden. Carlson, a privately held global hospitality and travel company, based in Minneapolis (USA), is the majority shareholder.
The corporate support office of The Rezidor Hotel Group is based in Brussels, Belgium. For more information, visit www.rezidor.com.
SOURCE: The Rezidor Hotel Group