Rezidor plans launch of budget hotel brand
Hotel group Rezidor is planning to launch a “colourful” budget hotel brand, claiming that rival chains are offering “boring and depressing” architecture. Kurt Ritter, chief executive and president of the group, which currently operates in the three-, four- and five-star markets, said he believed there was “room for another budget brand”. Ritter said the budget sector – which accounts for about a quarter of the UK hotel market – had shown great resilience since the 9/11 slump but suggested there was a need for a more effervescent brand. Rezidor operates a portfolio of 330 hotels in operation with 68,000 rooms in 51 countries in Europe, the Middle East and Africa under the luxury brands Radission SAS, Regent Hotels & Resorts, and midmarket brands Park Inn and Country Inns. It plans to open its first designer brand, Missoni, in both Edinburgh and Kuwait by the end of this year.