Radisson launches JV for growth in Germany, Austria

The Radisson Hotel Leipzig will be developed by Fay Projects GmbH. Photo credit: Radisson Hotel Group(Photo credit: Radisson Hotel Leipzig)

Radisson Hotel Group has launched a new strategic joint venture with local partners for operating hotels in Germany and Austria. The new partnerships are expected to help the company grow its Radisson and Radisson Red brands in the German-speaking regions. 

The venture will kick off with the signing of the Radisson Hotel Leipzig in Germany, which will be developed by Fay Projects GmbH and operated by the newly founded Fast Lane Hospitality GmbH.

"The German market is becoming increasingly versatile and requires an unconventional approach to accelerate growth," said Elie Younes, EVP/chief development officer, Radisson Hotel Group. Wolfgang Heid, chairman of the board/CEO of Fay Projects, agreed. 

"Leipzig is about to join Germany's 'Big Seven' cities, so our hotel development in a central downtown location comes at a rather opportune time, especially because hotel accommodation in the trade fair city continues to grow at an annual rate of around 5 percent," Heid said. Leipzig reportedly receives more than 3.4 million overnight visitors per year.

When it opens in 2022, the Radisson Hotel Leipzig will have access to the city center and the nearby Leipzig Fair. The property will have 224 guestrooms, a breakfast room, a bar and a gym.