It is scheduled to open its doors in Summer 2026.
Forrest Hotels Ltd confirmed that initial works to completely transform the building and extend the property both inside and out are due to commence.
The firm is currently redeveloping the nearby North Rotunda building into a multi-event and leisure venue, having acquired the renowned domed structure in 2023.
Forrest’s Donald Stewart said: “We’re thrilled to announce this new hotel, as we again partner with Radisson Hotel Group to bring an exciting new concept to the city.
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“We are investing heavily, bringing 65 new jobs to the city and transforming the current tired building into a stunning modern hotel with stylish design and décor – and the sense of personality we bring to all of our projects.
“We have lodged a planning application and plan to have this new hotel open for the Commonwealth Games in 2026.”
Prize by Radisson is a lifestyle hotel brand, focusing on vibrant and modern spaces that provide welcoming multi-purpose social areas, but also act as a peaceful environment for guests to get a good night’s rest and balance their hectic schedules.
Glasgow’s Prize Hotel will include 163 guest bedrooms.
The ground floor will offer a bar and all-day dining concept, offering a large, open space for guests to relax and an ideal venue for pre or post-event socialising.
The ground floor will offer a bar and all-day dining concept (Image: Radisson)
Mr Stewart added: “This extension of our partnership with Radisson brings another option for visitors to the city, conference delegates, concertgoers and the people of Glasgow as we continue to invest in our city and its amenities.
“We are always seeking to bring something fresh and exciting and we’re confident Prize will shake things up, while adopting the consistent quality and service standards Radisson RED Glasgow is renowned for.”
Adela Cristea, Vice President, Business Development UK, Ireland & Nordics at Radisson Hotel Group said: “We are extremely excited to announce the signing of our first-ever Prize by Radisson property in the UK, following the brand’s fantastic growth across central Europe.
“We are also thrilled to be extending our relationship with the fantastic Forrest Hotels Ltd, who are a much-valued partner and with whom we continue to see tremendous success at our award-winning Radisson RED Glasgow property.”
Since its launch in 2009, Prize by Radisson has redefined the midscale design hotel concept by merging smart lifestyle elements with affordable accommodation.
The Prize by Radisson portfolio consists of more than 20 properties in operation and under development across Europe, in locations including Vienna, Antwerp and Hamburg.
The property joins Radisson Hotel Group’s rapidly growing UK and Ireland portfolio, which includes more than 70 hotels in operation and under development.