Rezidor Hotel Group

type

listed Subsidiary

traded as

omx: SSE37352 REZT

isin

isin: SE0001857533

fate

Renamed as Radisson Hospitality AB (part of Radisson Hotel Group)

defunct

2018

former name

• SAS International Hotels • Rezidor SAS Hospitality

successor

Radisson Hospitality AB

founder

SAS Group

num locations

369 hotels

num locations year

2017

area served

78 countries of the world

industry

Hospitality

services

Lodging

revenue

€967 million

revenue year

2017

operating income

€15 million

income year

2017

net income

€4 million

net income year

2017

assets

€513 million

assets year

2017

equity

€254 million

equity year

2017

owner

Carlson Hotels, Inc. (69.7%)

num employees

5,033

num employees year

2017

parent

Carlson Hotels, Inc. (trading as Carlson Rezidor Hotel Group)

rating

B1 (Moody's, June 2018)‡R1R‡

homepage

rezidor.com

footnotes

source: annual report (consolidated financial statements and other pages)‡R2R‡

Rezidor Hotel Group AB, originally SAS International Hotels A/S and then Rezidor SAS Hospitality A/S,[3] Rezidor SAS Hospitality Group AB (publ),[4] was a listed hotel group company. Originally founded by Scandinavian conglomerate SAS Group as a hotel in 1960, it became a listed company in 2006. The global headquarters of Rezidor relocated to Brussels, Belgium, circa 1989. The listed company managed hotel chains under brands such as Radisson SAS (now Radisson Blu), Park Inn, and Country Inns & Suites. The brands were franchised from American hospitality and travel conglomerate Carlson 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 direct parent company (Carlson Hotels, Inc.), with both companies collectively known as Carlson Rezidor Hotel Group. Carlson Rezidor was one of the top hotel corporations in 2013. Carlson Hotels, Inc. and its subsidiaries, including Rezidor Hotel Group, were sold to Chinese conglomerate HNA Group

History

Predecessors

SAS Group, the flag carrier of Scandinavian countries, opened their first hotel in Copenhagen, Denmark in 1960.[5][6] The hotel, the SAS Royal Hotel, was the world's first designer hotel, which was designed by Arne Jacobsen.[5][6] The hotel was initially under the catering division of the group.[6] The hospitality and catering division then became SAS Catering and Hotels.[6] In 1982, the hotels were spin-off as a separate division.[6] It became a subsidiary known as SAS International Hotels in 1985.[6]

Future President and chief executive officer (CEO) of SAS International Hotels,, joined the company as a junior manager in 1976.[6] He was promoted as the president and CEO in 1989.[6][7] According to the Financial Times, he "lays claim to several innovations [in the hospitality business]".[8] 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".[8]

Rezidor SAS Hospitality

Rezidor SAS Hospitality, was a company headquartered in Brussels, Belgium. As of January 2005, it was a wholly owned subsidiary of SAS Group.[9] The subsidiary was known as SAS International Hotels until 2001.[5][6] The headquarters of the subsidiary was relocated to Brussels soon after Ritter became President & CEO of the subsidiary in 1989.[6]

In April 2005, Rezidor SAS signed a partnership agreement with Carlson Hotels Worldwide, a subsidiary of Carlson Companies.[9] 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 as Radisson SAS, Park Inn