Insider Business Radisson Blu expands Cyprus portfolio with serviced apartments

Radisson Blu expands Cyprus portfolio with serviced apartments

Radisson Hotel Group has announced the signing of the first branded serviced apartments in Cyprus with the Radisson Blu Serviced Apartments in Larnaca, its third property in the city.

The new serviced apartments – signed as part of a Master Development Agreement with Sunnyseeker Hotels and Quality Group – will reinforce the group’s leading position as the largest operator on the island, with four properties and more than 550 rooms in operation or under development.

Elie Younes, Executive Vice President & Chief Development Officer, Radisson Hotel Group, said: “We are excited to bring the first branded serviced apartments to the beautiful island of Cyprus as part of our Master Development Agreement with Quality Group and Sunnyseeker Hotels. It is a wonderful opportunity to leverage the renowned Radisson Blu brand in the city and offer an extended stay product. With few internationally branded hotels and properties in Cyprus, new arrivals like the Radisson Blu Serviced Apartments, Larnaca will contribute to the island’s hospitality landscape while delivering great value to our stakeholders.”

The new property will feature 59 units – including one-bed, two-bed and studio apartments. Guests won’t have to travel far to find a range of food and drink options. The ground floor will host a cafeteria offering a variety of meals and snacks, while there will be a roof top lounge bar for guests to relax in. Leisure facilities will include a gym, spa and swimming pool – with 100 sqm of meetings and events space available for business guests.

Savvas Kakos, President and CEO of Quality Group, commented: “We are delighted to present to the public our latest addition to the hotel industry of our city – the Radisson Blu Serviced Apartments, Larnaca. Quality Group, with its partners SunnySeeker Hotels and Radisson Hotel Group, is challenging and changing the hotel industry of the island. Alongside our pride and joy, the Radisson Blu Hotel, Larnaca, this new development of 59 uniquely designed units will be serving the needs and wants of business travellers, as well as those who seek long-term accommodation. The announcement of the Radisson Blu Serviced Apartments, Larnaca for us is both a pleasure and an opportunity. A pleasure to see our efforts to attract international hotel giants like Radisson Hotel Group to Larnaca become a reality, and an opportunity to act boldly in empowering the hotel and tourism industry in Cyprus.”

The Radisson Blu Serviced Apartments, Larnaca will be ideally situated in the heart of the city, just a few steps away from the existing Radisson Blu Hotel and within walking distance of the port. Leisure visitors will enjoy easy access to Larnaca’s attractions, while business travellers will find themselves in close proximity to many of the city’s major companies.

The new serviced apartments will be easily accessible to guests. The property will be situated only 7 km from Larnaca International Airport, with a regular bus service running to and from the terminal.

A Marketing Trademark Licence Agreement, one of the first such agreements on the island, was also signed with Praveworth LLC as the SPV developing the property for the sale of individual units to investors.

The Radisson Blu Serviced Apartments, Larnaca will be operated by Radisson Hospitality AB under an International Franchise Agreement with Sunnyseeker Hotels as the approved third-party management company.

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