Radisson RED, which is known for its bold and cutting-edge upscale design, is set to open in Leman Street, located near the City of London, close to both the heart of London’s financial district with a few minutes’ walk to Liverpool Street Station, while also close to London’s creative east-end and some of its most famous landmarks such as Tower Bridge and the Tower of London.
PPHE has entered into an agreement to acquire a mixed-use development site, which will be developed into a Radisson RED lifestyle hotel with a minimum of 182 bedrooms, restaurant, bar, gym and office space. Closing of this transaction is expected in the coming months, with the hotel scheduled to open in 2029. The Radisson RED brand is known for its playful twist on conventional hospitality and bold interior design. It combines an innovative upscale select-service model with service flexibility, creating operational efficiencies and unlocking real estate value as a result. The development site currently features two old office buildings which will be demolished. The intended development will focus on sustainability targeting a BREEAM ‘Excellent’ environmental accreditation.
Greg Hegarty, Co- CEO of PPHE Hotel Group, comments: “This site will be a great addition to our development pipeline as we continue to extend our portfolio and presence in the London market. It is an exciting project which leverages our ‘Buy, Build, Operate’ business model and expertise as well as our multi-brand and multi-market segment strategy. We look forward to bringing Radisson RED to central London, following our recent Radisson RED openings in Berlin and Belgrade.”
Elie Younes, Executive Vice President & Global Chief Development Officer, Radisson Hotel Group comments: “Over 65% of our owners have more than one hotel with us, due to the relevance of our brands, our approach, and results. This marks our first Radisson RED in central London and reflects our commitment to growing our lifestyle portfolio in key global cities. We value our long-standing partnership with PPHE Hotel Group and are grateful for their continued trust in our brands and people.”
