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Regent Hotels and Resorts Signs Strategic Alliance Agreement with Rezidor Hotel Group AB

REGENT HOTELS AND RESORTS (RHR), wholly owned by Formosa International Hotels Corporation (FIHC), has signed a long-term Strategic Alliance Agreement for the Regent brand with Rezidor Hotel Group AB, one of the fastest growing hotel groups worldwide. Effective immediately, RHR and Rezidor will jointly develop and operate new Regent hotels in Europe, the Middle East and Africa (EMEA): Rezidor will exclusively develop and operate Regent hotels in Russia/CIS, Baltics, Middle East and Africa; and will jointly with RHR develop and operate new Regent hotels in the rest of Europe. RHR will continue operating existing Regent hotels in Europe.

“We are honored to partner with Mr. Kurt Ritter and his team at Rezidor; the leading hotel operator in the EMEA region with special insight and experience with the Regent brand. Our cooperation will further strengthen our growth strategy while RHR continues to focus on unique hotel residential mixed use projects in the region. Together we hope to significantly increase the Regent hotel portfolio and international network”, said Steven Pan, Chairman of Regent Hotels and Resorts.

FIHC had acquired the Regent brand and business in 2010 from Carlson and Rezidor, and since then RHR has refined its gracious Asian hospitality combined with a modern luxury platform in order to position Regent at the forefront of the international five-star hotel market. With this Strategic Alliance, RHR 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.

“We would like to thank Steven Pan and his team for their trust in Rezidor,” commented Kurt Ritter, President & CEO of Rezidor. “The acquisition of the Regent brand and business by Formosa in 2010 allowed us to focus on our core brands Radisson Blu and Park Inn by Radisson, and to strengthen our 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,” continued Ritter. Besides Europe’s largest upper upscale brand Radisson Blu and the dynamic mid-market brand Park Inn by Radisson, Rezidor also operates the lifestyle brand, Hotel Missoni.

Regent was first launched in 1970 by the legendary hotelier Robert H. Burns who later teamed up with hoteliers Adrian Zecha and Georg Raphael. The flagship Regent Hong Kong opened its doors in 1980. During the 1980s and 1990s, Regent became the leading luxury brand, opening 17 hotels around the world, including the iconic Regent Beverly Wilshire in 1989. In 1992, the brand was acquired by Four Seasons whose portfolio today contains many rebranded Regent hotels in New York, Beverly Hills, Bali, Milan, Istanbul, Singapore, Bangkok and Chiang Mai. In 1997, Carlson became the new owner and added the Regent Seven Seas Cruise to the Regent portfolio in 2005. When FIHC acquired Regent in 2010, founder Robert H. Burns also returned to the brand and serves today as the Honorary Chairman. In 2011, RHR became the first and only international luxury brand with all managed hotels listed in the Condé Nast Traveler's Readers Choice Awards.