The Radisson Hotel Group has plans to more than double its serviced apartments portfolio within the next five years across Europe, the Middle East and Africa. Presently, serviced apartments account for ten percent of the portfolio of the group in the regions. There are 45 properties and more than 5,400 units in operation and under development. 

The apartments will cater to a range of segments

Radisson’s serviced apartments operate as stand-alone or a mixed-use development in combination with a traditional hotel operation. These apartments will be developed as a brand extension of the existing portfolio to help cater to segments from midscale to luxury. 

Elie Younes, chief development officer for Radisson Hotel Group, said: “For many years we have explored the strong demand for serviced apartments and extended stay products by recognizing it as an attractive risk-adjusted investment proposition that has considerable growth potential. Given its relevance to the current economic climate, this value proposition has recently been further defined in our portfolio, offering a holistic concept with more opportunities for our investors and more possibilities for our guests. We commit to staying relevant to all our stakeholders.” These expansion plans are aimed at doubling the portfolio in operation by 2025. 

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