Carlson Rezidor Brings First Radisson RED to Vilnius, Lithuania

VILNIUS, Lithuania - Oct. 14, 2016 - PRLog -- 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 4^th 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.

"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 Žemaitis, Lords LB Asset Management fund manager.

"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. We are excited to introduce the Radisson RED brand to the Baltics, and are especially happy to add a further hotel to our Vilnius collection – a city where we see strong growth and where we believe the Radisson RED concept will generate something new and exciting for the city and its guests. We are looking forward to working with Lords LB Asset management. They have a solid reputation as one of the leading developers and property managers in the Baltics ", said David Jenkins, VP of Business Development for Carlson Rezidor Hotel Group.

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.

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About Radisson RED

Radisson RED is a new hotel philosophy and lifestyle brand inspired by art, music and fashion. RED connects with an ageless mindset and creates an experience that is localized, meaningful and appealing to those who appreciate bold design, individuality and simplicity. The brand will open its first hotels in 2016 and plans to have 60 hotels operating globally by 2020. For more information, visit raddisonred.com (http://www.radissonred.com). Connect with RED on social media:  @RadissonRED on Twitter (https://twitter.com/radissonred?lang=en) and Instagram (https://www.instagram.com/radissonred/), facebook.com/RadissonRED (https://www.facebook.com/RadissonRed/) and pinterest.com/RadissonRED (http://www.pinterest.com/RadissonRED).

About Carlson Rezidor Hotel Group

Carlson Rezidor Hotel Group is one of the world's largest and most dynamic hotel groups and includes more than 1,370 hotels in operation and under development with 220,000 rooms and a footprint spanning 110 countries and territories. The Carlson Rezidor portfolio includes a powerful set of global brands: Quorvus Collection, Radisson Blu^®, Radisson^®, Radisson RED, Park Plaza^®, Park Inn^® by Radisson and Country Inns & Suites By Carlson^SM. In most hotels, guests can benefit from Club Carlson^SM, one of the 2015 – 2016 "Top Three Hotel Rewards Programs" as recently ranked by U.S. News and World Report. Carlson Rezidor Hotel Group and its brands employ 85,000 people worldwide and is headquartered in Minneapolis, Minn., and Brussels, Belgium. For more information, visit www.carlsonrezidor.com. Connect with Carlson Rezidor on social media: @CarlsonRezidor on Twitter and linkedin.com/company/2364.

About Lords LB Asset Management

Lords LB Asset Management is a premier provider of investment management services to institutional clients and high net worth individuals based in Vilnius, Lithuania. Established in 2008, Lords LB Asset Management is licensed by the central Bank of Lithuania and focuses on real estate, energy and infrastructure, private equity investment strategies. The company currently manages 13 funds: 9 Real estate funds, 2 Private Equity funds and 2 Energy and Infrastructure funds. The total value of assets managed by the funds reached EUR 258 million at the end of July 2016.