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VILNIUS/BRUSSELS - October 6, 2016 - Rezidor, one of the most dynamic hotel groups worldwide and a member of the Carlson Rezidor Hotel Group, is proud to announce the signing of the first Radisson RED in the Baltics, Russia & CIS region. The hotel will be in Vilnius city center, next door to the existing Radisson Blu Lietuva hotel and only a short walk from the historical Old Town. The around 200-room Radisson RED Vilnius is expected to open its doors by early 2020.

The hotel will be an integral part of a new multifunctional complex, currently in development in the heart of the Vilnius business district, designed by world famous architect Daniel Libeskind. The project is developed by Lords LB Asset Management, a leading provider of investment management services in the Baltics.

Vilnius is Europe’s largest Baroque Old Town and has been ranked 4th in Europe as a city for fast-growth businesses with a focus on innovation, technology and entrepreneurship. Radisson RED will be the first lifestyle hotel in the region that will cater to the rapidly evolving needs of our city”, commented Remigijus Šimašius, Mayor of Vilnius.

Elie Younes, Executive Vice President & Chief Development Officer of The Rezidor Hotel Group said, “The Baltics region has always been an important destination for our group, and its continued growth brings with it new opportunities. Our total portfolio in the region currently stands at 13 hotels with over 3,350 rooms, and we are excited to introduce our first Radisson RED to Vilnius. Radisson RED is the answer to the changing needs of today's hotel guests. Through its efficient, yet compelling designs and operational approach, it optimizes the return on investment to our owners and investment partner.”

We are proud to sign the very first Radisson RED hotel in the Baltics, Russia & CIS region. The new hotel brand appeals to tech-savvy guests with an ageless millennial mindset by offering a non-traditional experience. We believe that Carlson Rezidor can provide a distinctive experience to our customers – especially to the younger generation attracted by a brand like Radisson RED,” said Marius Ĺ˝emaitis, Lords LB Asset Management fund manager.

About Radisson RED

Radisson RED is Carlson Rezidor’s new lifestyle select brand that is inspired by the ageless millennial mindset, fashion, music and art. RED boasts a forward-thinking focus on design and detail, the guest experience, personal interaction, personal choice and recognition of the increasingly important role that technology plays in facilitating the best of everyday life. The world’s very first Radisson RED hotel opened its door in Brussels in April 2016, and the brand plans to have 60 hotels operating globally by 2020.

Contact: Lucie Cardona

lucie.cardona@carlsonrezidor.com

Contact: Jonathan Astle

jonathan.astle@carlsonrezidor.com

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