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Rezidor SAS Hospitality to float

29 June 2006
Rezidor SAS Hospitality to float

Rezidor SAS Hospitality will float on the Stockholm Stock Exchange within the next 12 months, subject to market conditions.

The move will mark the exit of its owner, the Scandinavian SAS Group, from the hotel business it set up in 1950, allowing it to focus on its airline operation.

The flotation, which will be handled by UBS Investment Bank, will complete a process of withdrawal that began in March 2005, when Carlson Hotels Worldwide bought a 25% stake in Rezidor.

Rezidor, which has 279 hotels open or under development in 50 countries, is also developing Cerruti and Missoni branded hotels with the fashion houses of the same name.

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