Radisson is poised to take over a three-star hotel chain later this month.
The number of hotels in Radisson’s portfolio increased from 125 to 146 last year and it now owns hotels in 38 countries.
It has plans to open hotels in Cologne and Frankfurt in 2003, making Munich the only remaining major German city without a Radisson hotel. It also has plans to raze and reconstruct the old Berlin Palasthotel.
Infa Immobilien will invest €81.8m (DM160m) in the construction of the 391-room Cologne hotel. The 420-room Frankfurt hotel will be funded by Hochtief.
Radisson saw its pre-tax profits increase by 5.3 % last year to €68.5m (DM134m) while turnover increased by 5% to €1.04bn (DM2.03bn).
Frankfurter Allgemeine Zeitung, 07 March 2001 p25
