BRUSSELS-Brussels-based Rezidor Hotel Group has sealed a management agreement with Norwegian real estate developer Linstow for 10 Reval hotels in Latvia, Estonia, Lithuania and Russia, and has also announced further new hotels in Russia.

The agreement with Linstow includes three hotels in Riga, two in Tallinn, two in Vilnius and one each in Kaunas, Klaipeda and St. Petersburg, adding 2,367 rooms to Rezidor’s portfolio. Six hotels will be rebranded as Radison Blu and four as Park Inn.

Rezidor also announced two projects in Russia’s ski region of Krasnaya Polyana, 50 kilometers east of Sochi, where the Olympic Winter Games will be held in 2014. The 180-room Radisson Resort Rosa Khutor and 200-room Park Inn Resort Rosa Khutor are both due to open in 2012. The two will be located in the 537 hectare Rosa Khutor Alpine Ski Resort, a $1.4 billion development to ski runs and capacity for 10,500 people.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.