Park Plaza Hotels & Resorts

Last updated
Park Plaza Hotels & Resorts
Park Plaza logo.svg
Product type hotel chain
Owner
Produced by
CountryUnited States
Introduced1986
Related brands
MarketsWorldwide
Previous owners
  • Park Plaza International
  • Olympus Hospitality Group
  • Park Hospitality
Website www.choicehotels.com
www.parkplaza.com

Park Plaza Hotels & Resorts, formerly Park Plaza International Hotels, Inns and Resorts and commonly known as just Park Plaza, is a hotel chain which runs several hotel groups as franchises. It was established in 1986 as a company and acquired by Olympus Real Estate in 1997. In year 2000, Carlson acquired the Park Plaza Hotels & Resorts as well as sister brand Park Inn . As of 2019, the brands were owned by Radisson Hotel Group (formerly Carlson Hotels).

Contents

History

Park Plaza in Westminster Westminster Park Plaza Hotel, Westminster Bridge SE1 - geograph.org.uk - 2407011.jpg
Park Plaza in Westminster

Foundation and early years

Park Plaza International Hotels, Inns and Resorts was founded as a hotel management company and brand in 1986, [1] by Jonathan R. Read. [2] In 1994, Park Plaza International licensed the Park Plaza brand to "Park Plaza Hotels Limited" with rights to operate in Belgium, The Netherlands, Luxembourg, the United Kingdom and Israel. [3]

Park Plaza International was acquired by Olympus Hospitality Group, a division of Olympus Real Estate in October 1997. [4] [5] According to The Wall Street Journal , a new parent company of the Park Plaza hotel group, Park Hotels International LLC, was formed as part of the deal. [4] Park Plaza International, at that time owned Park Plaza as well as Park Inn hotel chains. [4] In June 1998, Park Plaza International,- -the press release did not specify it was Park Plaza International Hotels, Inns and Resorts or another legal entity Park Plaza International, LLC. - backed by Olympus Real Estate, acquired a controlling stake in Australia-listed company Kemayan Hotels and Leisure (KHL). [1] KHL was renamed into Park Plaza Kemayan immediately - the name of the company also had changed many times over its history. [6] [7]

In July 1999, Park Plaza Worldwide, LLC[ sic ], acquired 50% rights of the brand art'otel from Dirk Gadeke. [8] In mid-1999, it was reported that Park Plaza Worldwide formed another joint venture with J.E. Robert Companies (JER), with JER owned 80% stake of the JV. [8] [9] [10] In addition, JER had an option to acquire up to 35% of Park Plaza Worldwide. [8] [9] In July 1999, Paris Park Plaza Worldwide also announced the opening of Park Plaza Orleans Palace. That hotel was acquired by the joint venture with JER, according to reports. [8] [9] [10]

Takeover by Carlson from 2000

In 2000, Carlson Companies, via Carlson Hotels (known as Radisson Hotel Group since 2018), acquired the Park Plaza Hotels & Resorts and sister brand Park Inn, by forming a joint venture: Park Hospitality, with Olympus Hospitality Group. Carlson and Olympus also formed a private equity fund Radisson–Olympus Capital Partners, to acquire hotels and convert them to use Carlson Hotels' Regent or Radisson brands. [11] Also in 2000, Olympus Hospitality Group also acquired another hotel chain Chalet Susse, and converting them to Fairfield Inn by Marriott, operated by competitor of Carlson, Marriott International. [12] In the same year, Park Plaza Worldwide, chaired by Read, gave "Park Plaza Hotels Limited" (subsequently renamed "Park Plaza Hotels Europe" and then PPHE Hotel Group) exclusive territorial rights for Park Plaza brand in Europe and the Middle East region. [13] Park Plaza International LLC,[ sic ] also acquired another hotel brand Rockresorts in August 2000: however, it was sold in the next year. [14]

Carlson acquired the remaining stake of Park Plaza and Park Inn brands, from Olympus Hospitality Group in 2003. [3] The rights to use the brands in the Asia Pacific, was also bought back from Park Plaza Kemayan in the same year. [3] Carlson's hospitality business was renamed Radisson Hotel Group in 2017. A new logo of Park Plaza was announced in 2019. [15]

Park Inn by Radisson

Park Inn by Radisson
Park Inn by Radisson logo.svg
Product type hotel chain
Owner
Produced by
CountryUnited States
Introduced1986 in Arizona
Related brands
  • Park Plaza
  • Radisson
  • Country Inn & Suites
  • prizeotel
MarketsEurope, Asia, Middle East
Previous owners
  • Park Plaza International
  • Olympus Hospitality Group
  • Park Hospitality
Website www.choicehotels.com
www.parkinn.com

Park Inn by Radisson, formerly branded Park Inn and Park Inn International, [16] is a midscale hotel chain and a sister brand to Park Plaza. [17]

History

The company was founded in 1986 in Arizona [17] and was subsequently acquired by Carlson Companies along with sister company Park Plaza in 2000.

The Rezidor Hotel Group acquired the franchise rights of Park Inn brand for Europe, the Middle East and Africa from 2002. [18] Since 2003, some of the Park Inn hotels were operated by franchisee Rezidor, [19] an associate company of Carlson Companies from 2006 to 2010, and a subsidiary of Carlson, via their wholly owned division Carlson Hotels, from 2010 to 2016.

Locations

As of 2024, Park Inn by Radisson operates over 100 locations mainly in Europe with additional properties in Asia and the Middle East. [20] It had over 130 locations as of 2012. [17]

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References

  1. 1 2 "Park Plaza quietly expanding". Biz Journals. 19 April 1998. Retrieved 17 June 2019.
  2. ↑ "TimefireVR Inc. key people: Jonathan R. Read, 60". The Wall Street Journal. New York City. c. 2019. Retrieved January 29, 2019.
  3. 1 2 3 "Carlson Hotels completes acquisition of Park Inn and Park Plaza brands". Biz Journals. 16 September 2003. Retrieved 17 June 2019.
  4. 1 2 3 Written at Dallas. "Olympus, Park Plaza Hotels Agree on New Parent Company" . The Wall Street Journal. New York City. September 18, 1997. Retrieved January 29, 2019. Closely held Park Plaza, a Scottsdale, Ariz., hotel company, controls the Park Plaza and Park Inn brands
  5. ↑ "Olympus eyes properties, firms for turnarounds". National Real Estate Investor (interview). Informa. June 1, 1999. Retrieved January 28, 2019.
  6. ↑ "Park Plaza Kemayan Limited PPL — Profile and Status". www.delisted.com.au. Retrieved 16 June 2019.
  7. ↑ "ABN Lookup". abr.business.gov.au. 1 November 2014. Retrieved 16 June 2019.
  8. 1 2 3 4 Boulard, Garry (September 20, 1999). "Park Plaza plans global growth". Hotel & Motel Management. 214 (16). Scottsdale, Arizona: 3, 34. Retrieved February 4, 2019.[ dead link ]
  9. 1 2 3 "Park Plaza s'allie à J.E Robert Companies". L'Hôtellerie (in French) (2630). September 9, 1999. Retrieved February 4, 2019.
  10. 1 2 "Park Plaza gründet Joint-venture". FVW (in German). July 27, 1999. Retrieved February 4, 2019.
  11. ↑ Rourke, Elisabeth; Salamie, David E.; Peippo, Kathleen; Rothburd, Carrie (2016) [previous versions of the article were published in vol.6, 22 and 87]. Pederson, Jay P. (ed.). Carlson Companies, Inc. Vol. 181. Farmington Hills, Michigan: St. James Press (Gale, Cengage Learning group). ISBN   978-1-55862-955-4.{{cite book}}: |journal= ignored (help)
  12. ↑ "Olympus, Marriott To Rebrand 20 Chalet Susse Hotels". Hotel Business. 21 August 2000. Retrieved 17 June 2019.
  13. ↑ "Park Plaza Merges Europe /Middle East Operations with Partner" (Press release). Scottsdale, Arizona: Park Plaza Worldwide. November 1, 2000. Archived from the original on October 21, 2002. Retrieved January 31, 2019.
  14. ↑ "Rockresorts Appoints New President and Announces Relocation of Its Headquarters to Denver, Colorado". Hospitality Net. October 30, 2001. Retrieved January 29, 2019.
  15. ↑ "Radisson Hotel Group and PPHE Hotel Group Unveil New Park Plaza Brand Identity following significant portfolio investments" (PDF) (Press release). PPHE Hotel Group; Radisson Hotel Group. 17 April 2019. Retrieved 18 April 2019.
  16. ↑ "Park Inn rebrands as "Park Inn by Radisson"". Business Traveller. June 3, 2010. Retrieved January 29, 2019.
  17. 1 2 3 "The Americas Business Development Brochure" (PDF). Park Inn by Radisson. 2013. Retrieved January 20, 2019– via Radisson Blu website.
  18. ↑ "Our Heritage". Rezidor Hotel Group. c. 2007. Archived from the original on October 28, 2007. Retrieved January 17, 2019.
  19. ↑ "The Park Inn by Radisson Story". Park Inn by Radisson. Retrieved January 20, 2019.
  20. ↑ radissonhotels.com - Hotels retrieved 13 April 2024
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