Park Inn by Radisson
Hotels- 2023 Franchise 500 Rank
-
N/R Not ranked last year
- Initial investment
-
$2.7M - $15.3M
- Units as of 2021
-
142 7% over 3 years
The Radisson Hotel Group includes various well-known, reputable hotel brands that cater to a wide range of clients. The Park Inn by Radisson chain started life in 1986. It now belongs to the internationally known Radisson Hotel Group. The original Radisson hotel was in downtown Minneapolis, and the group still has its headquarters in Minnesota, from where it continues to expand from its origins in 1938.
A Park Inn by Radisson franchise may offer affordable, comfortable, and attractive accommodation in convenient locations. You can find a Park Inn by Radisson in Moscow, Russia, or Williamsburg, Virginia. The Park Inn by Radisson brand is recognized worldwide - Radisson operates in over 120 countries and is seeking to become a stronger competitor in the United States market.
Why You May Want To Start a Park Inn by Radisson Franchise
Franchisees work closely with Radisson and must share Radisson's commitment to customer satisfaction. Franchisees are required to have an elegant, proactive approach to the hotel business and dedication to the values that Radisson upholds.
The group's relationship with its franchisees is governed by trust, responsibility, and accountability. The Radisson Hotel Group has a mentality based on team effort, so franchisees must be team players with highly developed people skills. The relationship between Park Inn by Radisson and its franchisees is highly dynamic. Many Radisson hotel franchisees have more than one hotel in the group. Multiple franchise locations illustrate that Radisson is dedicated to creating opportunities for growth for its team members.
What Might Make a Park Inn by Radisson Franchise a Good Choice?
The hotel business is competitive, and a recognized brand must live up to the standards that the chain and the clients expect. Radisson spends a lot of time and effort ensuring that all of its hotels meet the demanded requirements. The Park Inn by Radisson brand strives to consist of modern, attractively decorated hotels that offer the guests a warm, stress-free, vibrant atmosphere at an affordable price. Guests enjoy a wide range of facilities that help make their stay more comfortable.
To be part of the Park Inn by Radisson franchise team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising and royalty fees.
How To Open a Park Inn by Radisson Franchise
Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Park Inn by Radisson franchising team questions.
As you decide if opening a Park Inn by Radisson franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Park Inn by Radisson franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
Company Overview
About Park Inn by Radisson
Business Overview
- Franchising Since
- 1993 (30 years)
- # of employees at HQ
- 700
- Where seeking
-
This company is offering new franchisees throughout the US.
This company is offering new franchisees in the following international regions: Central America, Canada, South America, Mexico
- # of Units
- 142 (as of 2021)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Park Inn by Radisson franchise.
Financial Requirements & Ongoing Fees
Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
- Initial Franchise Fee
- $35,000
- Initial Investment
- $2,662,774 - $15,317,727
- Royalty Fee
- 4.5%
- Ad Royalty Fee
- 2%
- Term of Agreement
- 20 years
- Is franchise term renewable?
- No
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Job Training
- Varies
- Classroom Training
- 47-65 hours
- Ongoing Support
-
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresField OperationsProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
-
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Operations
Additional details about running this franchise.
- Is absentee ownership allowed?
- No
- Can this franchise be run from home/mobile unit?
- No
- Can this franchise be run part time?
- No
- Are exclusive territories available?
- No
Franchise 500 Ranking History
Compare where Park Inn by Radisson landed on this year’s Franchise 500 Ranking versus previous years.
Want to stay updated on the latest franchise news?
Never miss a beat when you sign up to receive our newsletter.
We care about the protection of your data. Read our Privacy Policy
Related Franchises
Are you eager to see what else is out there? Browse franchises that are similar to Park Inn by Radisson.
Related Franchise Content
Catch up on the latest franchise news, trends, and more.
Do You Have Enough Capital to Fund a Franchise? Here's How to Find Out.
This is everything you need to know about funding a franchise.
5 Tips for First-Time IFA Convention Attendees
Get ready for the franchising industry's biggest trade show event of the year.
How Franchisees Can Use Technology to Change Consumer Behavior
Here's how franchisees can tap into consumer behaviors using strategic messaging and offers that speak to clients wants and needs.
Which Franchise Is Right for You? Start By Evaluating Your Goals.
How do you narrow thousands of possibilities down to the one perfect franchise for you?
The Top 9 Coffee Franchises for 2023
These concepts continually rank as the top franchises in the coffee and tea industry.
Find Out Which Brands Have Ranked on the Franchise 500 for Longest, Earning a Spot In our New 'Hall of Fame'
Looking to buy an A-list franchise? These brands have been the strongest for the longest.