Regent Hotels Allies with Rezidor; Will Develop Hotels in EMEA

Regent Hotels and Resorts, which is owned by Formosa International Hotels Corporation, has signed a long-term strategic alliance agreement for the Regent brand with Rezidor Hotel Group. Effective immediately, Rezidor will exclusively develop and operate Regent hotels in Russia/CIS, Baltics, Middle East and Africa; and jointly with RHR develop and operate new Regent hotels in the rest of Europe. Regent will continue operating existing Regent hotels in Europe.

Steven Pan, Chairman of Regent Hotels and Resorts, said that this cooperation would further strengthen the company's growth strategy while it continues to focus on luxury hotel residential mixed use projects in the region. “Together, we hope to significantly increase the Regent hotel portfolio and international network.”

Formosa International Hotels Corporation acquired the Regent brand and business in 2010 from Carlson and Rezidor, and since then Regent has refined its Asian hospitality in order to position Regent at the forefront of the international five-star hotel market. With this Strategic Alliance, Regent will continue to focus primarily on mixed use development projects combining luxury hotels with branded residential components in the EMEA region. RHR currently operates Regent hotels in Beijing, Berlin, Taipei, Turks & Caicos and Zagreb. Projects under development include properties in Abu Dhabi, Bali, Doha, Kuala Lumpur, Montenegro and Phuket.

Kurt Ritter, President & CEO of Rezidor, said that the acquisition of the Regent brand and business by Formosa in 2010 allowed Rezidor to focus on the company's core brands Radisson Blu and Park Inn by Radisson, and to strengthen its network in 70 countries across EMEA. “A luxury brand was, however, never off our agenda, and we are delighted to complement our portfolio with Regent now,” he added.

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