Business
Extended strategic partnership with Radisson
Extended strategic partnership with Radisson.
About this update from Pphe Hotel Group Limited
[{"type":"text","content":"\n \n \n 18 May 2022\n \n \n \n PPHE Hotel Group Limited\n \n \n \n (\"PPHE\" or the \"Group\")\n \n \n Launch of extended strategic partnership with Radisson Hotel Group\n \n \n Agreement will accelerate expansion, generate additional income and drive brand awareness\n \n \n \n \n \n PPHE Hotel Group, the international hospitality real estate group which develops, owns and operates hotels and resorts, is very pleased to announce the launch of an extension of its strategic partnership with Radisson Hotel Group (\"RHG\").\n \n \n \n \n \n PPHE has been the leading force behind the expansion of the Park Plaza brand in Europe, operating since 2002 under an exclusive and perpetual territorial license of Radisson Hotel Group's Park Plaza brand in Europe, Middle East and Africa (the \"Park Plaza TLA\"). Today's announcement builds on this successful 20-year partnership with Radisson Hotel Group, which is founded on trust, collaboration and joint value creation.\n \n \n \n \n \n Through the extension of the partnership and in addition to the Park Plaza TLA (which remains in its current form), the parties entered into long term agreements through which:\n \n \n \n \n \n ·\n PPHE will have the ability to access and leverage the full suite of Radisson Hotel Group's brands, including Radisson Collection, Radisson Blu and Radisson RED, to support the growth of its own property portfolio beyond the upper upscale and lifestyle segments on favourable commercial terms, subject to development targets. The first hotel to be launched under the extended partnership will be the Grand Hotel Brioni Pula, which will open in May 2022 as a Radisson Collection Hotel. \n \n \n \n \n \n · \n Radisson Hotel Group will have access to the art'otel and Park Plaza brands in certain regions, primarily outside of PPHE's core markets, and subject to development targets. Through this arrangement, PPHE will be entitled to a fee based income for the use of its brands. PPHE retains full ownership over the&nb...