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Radisson Group inks development deal with SM Hotels

Radisson Hotel Group said on Wednesday it was embarking on the latest phase of its expansion strategy in the Philippines with the signing of a deal with SM Hotels & Conventions Corp. (SMHCC) for the development of 14 new hotels across the country.
In a statement, the international hotel chain said it inked a master development agreement with SMHCC for its Park Inn by Radisson brand.
Fourteen Park Inn by Radisson hotels will be built under the agreement over the next five years, which would bring the group’s total portfolio in the Philippines to 20 hotels by 2028.
Sy-led SMHCC develops and manages the hotel and convention properties of SM Prime Holdings Inc. (SMPH).
Radisson Group said its latest agreement with SMHCC, the developer and manager of Sy-led SM Prime Holdings’ hotels and conventions business, builds on their long-term partnership, which started in November 2010 with the launch of Radisson Blu Cebu and the opening of five Park Inn by Radisson hotels over the last decade.
As part of the strategic alliance, both the Radisson Hotel Group and SMHCC will drive the expansion of their Philippine portfolios through the Radisson Blu, Radisson, and Park Inn by Radisson brands, which will be built alongside their integrated property developments with SM Malls, according to the international hotel chain.  —VBL, GMA Integrated News