Rezidor plunges money into Nordic hotels

Two new leases extended, with substantial renovation
Two new 25-year hotel leases have been extended, and substantial renovation agreed, at the Radisson Blu Royal Viking Hotel in Stockholm and the Radisson Blu Scandinavia in Oslo.
Rezidor Hotel Group says the “two landmark hotels in home markets that are critical to the group’s Scandinavian heritage and identity” now have long-term lease agreements.
Both properties are owned by KLP Eiendom, which also has three other Rezidor hotels in the Nordics totalling almost 2,000 rooms. The new agreements mean the two hotels in Stockholm and Oslo have committed to the Radisson Blu brand for another 25 years.
The 459-room Radisson Blu Royal Viking Hotel in Stockholm recently underwent renovation in which Rezidor invested around €10 million over five years.
The next phase of investment, spanning over four years, will see investment of an additional €10 million in which new guestrooms will feature the signature BluPrint room design concept developed by Radisson Blu.
Together with the extension and repositioning of the Radisson Blu Strand Hotel, which is also undergoing a full renovation, to be completed in 2018, Rezidor says the agreement will consolidate its presence in the city.
At the 497-room Radisson Blu Scandinavia Hotel in Oslo, meanwhile, Rezidor plans to complete a renovation program with an additional investment of €22 million to be spent in the coming three years. All guestrooms will feature the BluPrint design scheme and the lobby, bar and meeting rooms will also be renovated.
Rezidor says that together with the extension and repositioning of the Radisson Blu Atlantic Hotel in Stavanger, which is undergoing a full renovation to be completed this year, the new agreement will strengthen its presence in Norway.
TTG Nordic

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