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 Delta Capital Management and Rezidor SAS Plan
Country Inn Brand Properties in Moscow
and St. Petersburg
Brussels, March 10, 2003 – Rezidor SAS Hospitality announces it will enter the mid-market segment in Russia, and expand its presence to about 50 hotels over a period of 8-10 years.  In a joint venture with Delta Capital Management (manager of The U.S. Russia Investment Fund), Sweden’s Swedfund and Denmark’s IØ (The Investment Fund for Central and Eastern Europe), Rezidor SAS will initially target main cities like Moscow and St. Petersburg and other key regional capitals.  The objective is to add about 8 hotels in the next three years.

Country Inn is a mid-market alternative for business and leisure travelers who want a high level of comfort and value for their money.  The country culture, with its cozy atmosphere and friendly staff, is crucial to the concept.  There are currently more than 325 Country Inn hotels across the U.S. and Europe.

“While Russia offers tremendous growth opportunities, its mid-market hotel segment remains widely underserved. There is a growing demand for affordable, quality accommodations operated by an international hotel chain under an identifiable brand name.  We believe that the market is there and the timing is right to expand this brand within the vast Russian Federation,” said Kurt Ritter, president & CEO of Rezidor SAS Hospitality.

There are currently 5 full-service, upscale Radisson SAS hotels in Russia.  Rezidor SAS is the leading international hotel company in that segment. 

Rezidor SAS Hospitality is the master franchise holder for the Radisson SAS, Regent, Country Inn and Park Inn brands in Europe, the Middle East and Africa. The Radisson SAS portfolio now extends to 40 countries. 

 

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Contact:
Emily Easter
MMG Mardiks
594 Broadway, Suite 1106
New York, NY  10012
Phone:  212-219-7560, ext. 204
eeaster@mmgmardiks.com
Also See: Radisson SAS in St. Petersburg, Russia 'Deal of the Year' / April 2002
In Partnership with St. Petersburg City Authorities Radisson SAS Opens Royal Hotel, St.  Petersburg; Erich Bänziger the Opening General Manager/ July 2001 

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