RHG, SMHCC sign master development agreement

Radisson Hotel Group has embarked on the latest phase of its expansion strategy in the Philippines, with the signing of a Master Development Agreement for the Park Inn by Radisson brand, with SM Hotels & Conventions Corp. (SMHCC) for 14 new hotels across the country over the next five years, taking their total targeted portfolio with Radisson Hotel Group to 20 hotels by 2028.

SMHCC develops and man- ages the hotel and convention properties of SM Prime Holdings, Inc. (SMPH), one of the largest integrated property developers in Southeast Asia. This latest agreement builds on the long-term partnership between these two forward-thinking companies, which commenced 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 al- liance, both Radisson Hotel Group and SMHCC drive the expansion of its Philippines portfolio through the Radisson Blu, Radisson and Park Inn by Radisson brands, which will be built alongside its integrated property developments with SM Malls. This growth will be primarily fueled by the Park Inn by Radisson brand, where SMHCC has the exclusive development rights for a five-year term to expand the brand into key tier 1 to 3 markets across the nation.