The Rezidor Hotel Group today announced the conversion of two lease agreements, the Park Inn by Radisson Malmö and the Park Inn by Radisson Hammarby Sjöstad, in Sweden to franchise agreements.
Combined, the two hotels comprise more than 400 rooms and will remain under the Park Inn by Radisson brand. Ligula Hospitality Group AB will purchase the shares of the company which holds the lease agreements, Rezidor Hotel AB which will operate the hotels under franchise agreements beginning in Q1-2013.
“Converting these hotels from leases to franchise agreements is in line with our asset-light strategy and our increasing focus on fee-based business”, says Wolfgang M. Neumann, president & CEO at Rezidor. “In addition, we are delighted to partner with ProfilHotels, which is a highly successful and experienced operator and capable of managing these hotels at the highest level”.