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

TAIPEI, Taiwan—Regent Hotels and Resorts (RHR), wholly owned by Formosa International Hotels Corporation (FIH), has signed a long-term Strategic Alliance Agreement for the Regent brand with Rezidor Hotel Group AB. 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.

“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,” said Steven Pan, chairman of Regent Hotels and Resorts, in an announcement. “Our cooperation will further strengthen our growth strategy while Regent 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. 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.

“We would like to thank Steven Pan and his team for their trust in Rezidor,” said 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.”

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