Radisson Hotel Group expands partnership with SM Hotels & Conventions Corp.; signs Master Development Agreement to reach 20 hotels in the Philippines by 2028

Signing of Master Development Agreement builds on decade-long partnership with six hotels in operation with further plans to launch 14 new hotels across the country

MANILA,Philippines,May 5,2023 -- Radisson Hotel Grouphas embarked on the latest phase of its expansion strategy in the Philippines,with the signing of a Master Development Agreement for the Park Inn by Radisson brand,with SM Hotels & Conventions Corp. (SMHCC) for 14 new hotels across the country over the next five years,taking their total targeted portfolio with Radisson Hotel Group,to 20 hotels by 2028.

(L-R) Radisson Hotel Group (RHG) APAC Chief Development Officer Ramzy Fenianos,RHG Chief Executive Officer Federico González,SM Hotels and Conventions Corp. (SMHCC) President Elizabeth Sy,and SMHCC Executive Vice President Peggy Angeles,at the Master Development Agreement (MDA) signing ceremony.

SMHCC develops and manages the hotel and convention properties of SM Prime Holdings,Inc. (SMPH),one of the largest integrated property developers in Southeast Asia. This latest agreement builds on the long-term partnership between these two forward-thinking companies,which commenced in November 2010 with the launch of Radisson Blu Cebu and the opening of five Park Inn by Radisson hotels over the last decade.

As part of the strategic alliance,both Radisson Hotel Group and SMHCC drive the expansion of its Philippines portfolio through the Radisson Blu,Radisson and Park Inn by Radisson brands,which will be built alongside its integrated property developments with SM Malls. This growth will be primarily fueled by the Park Inn by Radisson brand,where SMHCC has the exclusive development rights for a five-year term to expand the brand into key tier 1 to 3 markets across the nation.

Park Inn by Radisson is the group's midscale to upper midscale brand that offers owners a value engineered real estate proposition providing a unique experience to its guests based on smart design,communal open spaces and well-equipped amenities that helps guests Feel Good.

The brand was introduced to the Asia Pacific region for the first time in March 2013 in partnership with SMHCC with the opening of Park Inn by Radisson Davao,which recently celebrated its 10th anniversary. In the past decade,five Park Inn by Radisson hotels have opened their doors,introducing this contemporary brand to key urban centers including Bacolod City,Clark,Davao City,Iloilo City and Quezon City.

Under current development is the 516-room dual-branded property in Cebu City under the Radisson and Park Inn by Radisson brands,which is scheduled to open its doors in 2027,providing a diverse range of accommodation for travelers visiting the Central Visayas region's largest city. The properties will be part of an integrated development adjacent to the cutting edge SMX convention centre and SM Seaside Arena as well as the SM Seaside City Cebu Mall,a 147-meter tall Seaside Tower and a church.

Elie Younes,Executive Vice President and Global Chief Development Officer,Radisson Hotel Group,said: "At Radisson Hotel Group,we believe in long term partnerships based on trust,responsibility and accountability; this is why two-thirds of our owners have more than one hotel with us. We are grateful to extend this landmark partnership with SMHCC today,which underscores our shared vision to offer relevant products by delivering innovative brands that cater to the ever-evolving needs of travelers in the Philippines. We thank them for their continued trust."

Ramzy Fenianos,Chief Development Officer,Asia Pacific,Radisson Hotel Group,said: "Our partnership with SM Hotels & Conventions Corp. is a mutually beneficial relationship that has changed the hospitality landscape in the Philippines by pairing our popular accommodation with world-class business,retail and leisure facilities. This collaboration has stood the test of time and we are delighted to embark on the latest phase of our expansion,which will offer outstanding opportunities for our diverse portfolio of brands in the Philippines while creating shareholder value to our trusted partners."

Ms. Peggy Angeles,Executive Vice President,SM Hotels & Conventions Corp., commented: "SMHCC's long-time partnership with the Radisson Hotel Group will be further strengthened with this agreement and reflects a strong mutual intent to grow the brand in the country. We are certain that this new milestone between SMHCC and RHG will complement the vibrant tourism landscape locally and set a new benchmark in the hospitality industry. As the owner of the Park Inn by Radisson hotels in the Philippines,SMHCC looks forward to benefitting from RHG's vast global resources,which has made it one of the most progressive hotel companies in the world."

Alongside its ambitious growth in the Philippines,Radisson Hotel Group and SMHCC are dedicated to a sustainable future,built on a commitment to become Net Zero by 2050 through the development of certified green hotel buildings,increasing the use of renewable energy and driving sustainable hotel operations.

Both companies will jointly drive the adoption of the Hotel Sustainability Basics,the world's new trusted standard for essential hotel sustainability,which was launched in Manila last year,by the World Travel & Tourism Council,where Radisson Hotel Group was represented alongside 70 leading hotel groups,destinations and stakeholders.

In addition to its Net Zero commitment,Radisson Hotel Group offers unique solutions to make sustainable hotel stays easy such as 100% carbon neutral Radisson Meetings,and the ability to offset the carbon footprint through Radisson Rewards. Dozens of individual properties have won green awards in recent years,and EcoVadis honored Radisson Hotel Group with the Silver award for sustainable supply chain practices across its brands.

To learn more about Radisson Hotel Group in the Philippines,please visit www.radissonhotels.com/en-us/destination/philippines.

ABOUT RADISSON HOTEL GROUP

The Radisson family of brands can be found around the world in more than 120 countries,with currently over 1,700 hotels in operation and under development. Radisson Hotel Group operates the business in EMEA and APAC with over 1,100 hotels in operation and under development. The international hotel group is rapidly growing with a plan to double the portfolio by 2025. The Group's overarching brand promise is Every Moment Matters with a signature Yes I Can! service ethos.

The Radisson family of brands portfolio includes Radisson Collection,Radisson Blu,Radisson,Radisson RED,Radisson Individuals,Park Plaza,Park Inn by Radisson,Country Inn & Suites by Radisson,and prizeotel brought together under one commercial umbrella brand Radisson Hotels.

Radisson Rewardsis Radisson Hotel Group's loyalty program,which delivers an elevated experience that makes Every Moment Matter. As the most streamlined program in the sector,members enjoy exceptional advantages and can access their benefits from day one across a wide range of hotels in Europe,Middle East,Africa,and Asia Pacific.

Radisson Meetings provides tailored solutions for any event or meeting,including hybrid solutions placing guests and their needs at the heart of its offer. Radisson Meetings is built around three strong service commitments: Personal,Professional and Memorable,while delivering on the brilliant basics and being uniquely 100% Carbon Neutral.

At Radisson Hotel Group we care for people,communities and planet and aim to be Net Zero by 2050 based on the approved near-term Science Based Targets. With unique solutions such as 100% carbon neutral Radisson Meetings,we make sustainable hotel stays easy. To facilitate sustainable travel choices,all our hotels are becoming verified on Hotel Sustainability Basics.

The health and safety of guests and team members remain a top priority for Radisson Hotel Group. All properties across the Group's portfolio are subject to stringent health and safety requirements,as outlined in the Radisson Hotels Safety Protocol.The Safety Protocol is an integral part of Radisson Hotel Group's Safety and Security program ensuring we always care for our guests and team members.

For more information,visit our corporate website. Or connect with Radisson Hotels on:

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About SM Hotels and Conventions Corp. (SMHCC)

SM Hotels and Conventions Corp. (SMHCC) was established in April 2008 with the primary purpose of developing and managing the hotel and convention properties of SM Prime,one of the largest integrated property developers in Southeast Asia. SMHCC is guided by its mission to be the leading hotel and convention company in the Philippines and its vision to build and operate hotels and convention centers that take pride in Filipino warmth and hospitality.

SMHCC's encouraging growth has propelled the company's goal to double its portfolio throughout the country within the next five years. It is geared towards becoming a brand powerhouse that ultimately seeks to create an indelible mark in the country's tourism industry.

Currently,the SMHCC portfolio is comprised of nine (9) hotel properties with a combined inventory of more than 2,200 rooms and over 42,000 sqm. of leasable convention space. The list of properties under SMHCC includes Taal Vista Hotel,Pico Sands Hotel,Conrad Manila,Radisson Blu Cebu,Park Inn by Radisson Clark,Park Inn by Radisson Davao,Park Inn by Radisson Iloilo,Park Inn by Radisson North EDSA,Park Inn by Radisson Bacolod,and the SMX Convention Centers and trade halls.

For more information,please visit https://smhotels.com.ph/