Posted 9/19/2012 - 12:02:47 AM
Regent Hotels & Resorts Chairman Steven Pan (left) with Rezidor President/CEO Kurt Ritter at the signing.
TAIPEI, TAIWAN—Regent Hotels and Resorts, wholly owned by Formosa International Hotels Corp., 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, 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.
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.
Formosa International Hotels Corp. acquired the Regent brand and business in 2010 from Carlson and Rezidor.
Kurt Ritter, president/CEO of Rezidor, said, “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.”
Regent was first launched in 1970 by Robert H. Burns, who later teamed up with hoteliers Adrien Zecha and Georg Raphael. The flagship Regent Hong Kong opened its doors in 1980. During the 1980s and 1990s, Regent became a leading luxury brand, opening 17 hotels around the world, including the Regent Beverly Wilshire in 1989.
In 1992, the brand was acquired by Four Seasons Hotels & Resorts, 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 Burns also returned to the brand and serves today as its honorary chairman.