| Type | Public |
|---|---|
| Traded as | OMX: REZT |
| Industry | Hospitality |
| Founded | 1960 |
| Headquarters | Brussels, Belgium |
| Key people | Kurt Ritter (CEO) |
| Services | Hotel management |
| Revenue | €677.2 million (2009) |
| Operating income | €25.0 million (2009) |
| Net income | €28.2 million (2009) |
| Employees | 30,000 |
| Website | www.rezidor.com |
| References: [1][2] | |
The Rezidor Hotel Group, previously known as Rezidor SAS, is a hotel management company. Rezidor's Head Office is located in Brussels, Belgium. Since November 2006, the company has been listed on the Stockholm Stock Exchange. Prior to that time, the company was owned by the SAS Group (75%) and Carlson Hotels Worldwide (25%).[1]
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The group has over 330 hotels in operation and under development with more than 60,000 rooms in 50 countries.
Rezidor operates the brands Radisson Hotels, Regent International Hotels, Park Inn and Country Inns & Suites in Europe, Middle East and Africa, along with the Club Carlson loyalty programme for frequent hotel guests. Rezidor has signed a worldwide license agreement with the Italian fashion house Missoni, and operates several lifestyle hotels under the brand name, such as the Hotel Missoni Kuwait.
The first SAS hotel was opened in Copenhagen in 1960 and became the first designer hotel of the world.[1] This is where some of the masterpieces of famed designer Arne Jacobsen came to life. The hotel operations of the Scandinavian Airlines was initially part of SAS catering, which was later renamed SAS Catering and Hotels. Re-organisation in 1985 saw the creation of SAS International Hotels (SIH), a fully owned subsidiary of the SAS Group. Expansion of the hotel network was then a key objective, and in 1989, SAS bought 40 percent of Intercontinental Hotels and held its interest until selling in 1992.
In 1994, the Brussels-based SIH concluded a marketing agreement with Radisson Hotels Worldwide, in which no equity exchange took place. The agreement actually placed SAS International Hotels in a new and strong position within the marketing, sales and distribution network of the U.S.-based Carlson, the parent company of Radisson Hotels. The American company, a major player in international travel and tourism, was founded by Curtis Carlson, a first generation Swedish-American. As a result of this arrangement, SIH became the sole franchisor for the Radisson brand in Europe, Middle East and Africa.
On 1 October 2001, SAS International Hotels (SIH) was renamed Rezidor SAS Hospitality. The renaming of the parent company created the basis for further expansion with a variety of brands. The name Rezidor is a word coinage supposedly suggesting the English "residence" and "door" and the French "or" (gold).
In September 2002, Kurt Ritter, President & CEO of Rezidor SAS Hospitality, signed a further strategic agreement with Carlson Hotels Worldwide. As a result, Rezidor SAS also became a partner for the Park Inn, Country Inn and Regent brands in Europe, the Middle East and Africa. In June 2005, Rezidor SAS Hospitality completed the strategic agreement with U.S.-based Carlson Hotels Worldwide, which resulted in an enhancement of their long-time franchise partnership into a shareholder agreement. Carlson Hotels acquired a 25 percent shareholding in Rezidor SAS from SAS Group in return for renegotiated commercial terms of the parties’ current Master Franchise Agreement.
On November 28, 2006, Rezidor went public and changed its name to The Rezidor Hotel Group. The company is listed on the Stockholm Stock Exchange. Currently, Carlson Companies is the biggest shareholder (50.1%).