Rezidor to start cost-cutting program

Economic and political worries force group into austerity
Rezidor Hotel Group has announced a long-term program of cutting costs, blaming market uncertainties and fears of terrorism in Europe, plus political unrest and low oil prices in countries like Turkey and Saudi Arabia.
The Brussels-based company, which operates brands like Radisson Blu, wants to achieve $10.9 million in savings every year starting in 2017.
In its “containment plan”, it aims to renegotiate procurement contracts and reorganise its head office, laying of some full-time employees.
But despite struggling markets such as Belgium, France and Turkey, positive signs continue to be seen in Scandinavia, Russia and Germany. Overall reported revenue was down almost 4% to €251.3 million.

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