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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Radisson Hospitality AB (publ)    RADH   SE0001857533

RADISSON HOSPITALITY AB (PUBL)

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Radisson Hospitality publ : Hotel Group debuts in Pakistan with Lahore signing

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06/12/2019 | 05:54am EDT

Radisson Hotel Group is delighted to announce the signing of the Radisson Hotel, Lahore City Mall in Pakistan. This deal marks the group's debut in Pakistan and the launch of its strategy to have 10 hotels and 2,000 rooms in operation and under development across the country by 2025. This brings the group's South Asia portfolio to 136 hotels in operation and under development.

Lahore, the capital of the Pakistani province of Punjab with a population of 11 million, is the second-most populous city of Pakistan. Rich in history, Lahore is a major educational, social, cultural and economic hub, contributing more than 11% to Pakistan's GDP.

Elie Younes, Executive Vice President & Chief Development Officer, Radisson Hotel Group, said: 'We are delighted to be entering Pakistan with the largest hotel signed by Radisson Hotel Group in South Asia and our upscale, Scandinavian-inspired Radisson brand. The towering size of the development, combined with its premium location, provides us with an excellent opportunity to enter Pakistan's hotel market and remarkable visibility with which to establish the brand. It is a deal that brings great value to our key stakeholders.'

The Radisson Hotel, Lahore City Mall will have two access points, located at the intersection of M.M. Alam Road and Main Boulevard Gulberg, which houses most of the prime commercial and retail establishments in Lahore.

Rana Abdul Rauf, Managing Partner of City Mall, said: 'We are proud to be partnering with Radisson Hotel Group as they enter into the flourishing country of Pakistan. We believe that this hotel will boast the renowned Radisson hospitality that, along with the full mixed-use development, will aid in further uplifting the area and support the country in its drive to boost business travel and tourism. The construction is being carried out by the Saudi based Overseas Construction Company, which has extensive experience in the development of world class projects.'

The 400-room new build hotel - forming part of a 75,000+sqm mixed-use development, including offices, a retail mall and luxury residences - is scheduled to open by December 2022. Dining options will include an all-day dining restaurant, a specialty restaurant, a rooftop restaurant and a lobby lounge for guests seeking a place to unwind or host a brief meeting. The property's leisure facilities will feature a spa & fitness center and swimming pool. The hotel's meeting and events space will include a banquet hall and state-of-the-art board rooms.

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MEDIA CONTACT:
Saadiyah Hendricks, Area PR & Communications Manager, Middle East & Africa
saadiyah.hendricks@radissonhotels.com

ABOUT RADISSON HOTEL GROUP

Radisson Hotel Group is one of the world's largest hotel groups with seven distinctive hotel brands, and more than 1,400 hotels in operation and under development around the world. Radisson Hotel Group portfolio includes Radisson Collection, Radisson Blu, Radisson, Radisson RED, Park Plaza, Park Inn by Radisson and Country Inn & Suites by Radisson.

Radisson Rewards is our global rewards program that delivers unique and personalized ways to create memorable moments that matter to our guests. Radisson Rewards offers exceptional loyalty benefits for our guests, meeting planners, travel agents and business partners.

Radisson Meetings places its guests and their needs at the heart of its offer and treats every meeting or event as more than just a date on the calendar. Radisson Meetings is built around three strong service commitments: Personal, Professional and Memorable, while delivering on the brilliant basics and our signature Yes I Can! service spirit.

More than 95,000 global team members work for Radisson Hotel Group and at the hotels licensed to operate in its systems.

For more information, visit:
www.radissonhotelgroup.com/media

Or connect with us on:
LinkedIn: https://www.linkedin.com/company/radisson-hotel-group/
Instagram: https://www.instagram.com/radissonhotels/
Twitter: https://twitter.com/radissonhotels
Facebook: https://www.facebook.com/radissonhotels
YouTube: https://www.youtube.com/radissonhotelgroup

Disclaimer

Radisson Hospitality AB (publ) published this content on 12 June 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 12 June 2019 09:53:00 UTC

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Managers
NameTitle
Federico González-Tejera President & Chief Executive Officer
Ming Ju Ma Chairman
Jose María Basterrechea Chief Operating Officer & Executive Vice President
Sergio Amodeo Chief Financial Officer
Göran Larsson Director
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