254418932024-01-012024-12-311254418932024-01-012024-12-31254418932024-01-012024-12-311254418932024-01-012024-12-311254418932024-01-012024-12-312254418932024-01-012024-12-313254418932024-01-012024-12-314254418932024-12-31254418932023-12-31fsa:ContributedCapitalMember254418932023-12-31fsa:RetainedEarningsMember254418932023-12-31254418932024-01-012024-12-31fsa:ContributedCapitalMember254418932024-01-012024-12-31fsa:RetainedEarningsMember254418932024-12-31fsa:ContributedCapitalMember254418932024-12-31fsa:RetainedEarningsMember254418932023-01-012023-12-31iso4217:EURxbrli:purePricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab-194000536000 Strandvejen 44540002970002900 Hellerup 209000900033771231-457000230000The Board of Directors and the Executive Board have today considered and approved the annual report of Radisson Services A/S for the financial year 01.01.2024 - 31.12.2024.959000924000The annual report is presented in accordance with the Danish Financial Statements Act.21620002006000In our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2024 and of the results of its operations for the financial year 01.01.2024 - 31.12.2024.-1660000-852000We believe that the management commentary contains a fair review of the affairs and conditions referred to therein.44000200000We recommend the annual report for adoption at the Annual General Meeting.-1704000-1052000Copenhagen-1704000-1052000Lars Gordon NielsenChief Executive Officer06000Rafael Sueiro Pombo06000Chairman00Inigo Capell Arrieta00Eva-Maria Margaretha Erauw06000Eric Souny3100065000To the Shareholder of Radisson Services A/S1736000137000In our opinion, the Financial Statements give a true and fair view of the financial position of the Company at 31 December 2024, and of the results of the Company’s operations for the financial year 1 January - 31 December 2024 in accordance with the Danish Financial Statements Act. We have audited the Financial Statements of Radisson Services A/S for the financial year 1 January - 31 December 2024, which comprise income statement, balance sheet, statement of changes in equity, notes and a summary of significant accounting policies (“the Financial Statements”). 4100018000We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the “Auditor’s responsibilities for the audit of the Financial Statements” section of our report. We are independent of the Company in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Statement on Management’s Review Management is responsible for Management’s Review. Our opinion on the financial statements does not cover Management’s Review, and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read Management’s Review and, in doing so, consider whether Management’s Review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether Management’s Review provides the information required under the Danish Financial Statements Act. Based on the work we have performed, in our view, Management’s Review is in accordance with the Financial Statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement in Management’s Review. 78000285000Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the Financial Statements, Management is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the Financial Statements unless Management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. 1886000505000Our objectives are to obtain reasonable assurance about whether the Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Financial Statements. ​ ​As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement​resulting from fraud is higher than for one resulting from error as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.​Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control.​Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and​related disclosures made by Management.​Conclude on the appropriateness of Management’s use of the going concern basis of accounting in preparing the Financial Statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern.​​​Evaluate the overall presentation, structure and contents of the Financial Statements, including the disclosures, and whether the Financial Statements represent the underlying transactions and events in a manner that gives a true and fair view. • Plan and perform the audit to obtain sufficient appropriate audit evidence regarding the consolidated ​ financial information of the entities or business units as a basis for forming an opinion on the Financial ​ Statements. We are responsible for the direction, supervision and review of the audit work performed. We ​ remain solely responsible for our audit opinion.​​We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.3015000321500049010003720000Hellerup49010003726000Gösta Gauffin670000670000mne458211848000213000State-Authorised Public Accountant2518000883000Primary activitiesThe Company's activities consist of hotel management and development as well as hotel business.110002000Description of material changes in activities and financesThe company is ceasing its activities, and the company’s employees have moved to other group companies.20530002736000This annual report has been presented in accordance with the provisions of the Danish Financial Statements Act governing reporting class B enterprises with addition of a few provisions for reporting class C.The accounting policies applied to these financial statements are consistent with those applied last year.319000105000Recognition and measurementAssets are recognised in the balance sheet when it is probable as a result of a prior event that future economic benefits will flow to the Entity, and the value of the asset can be measured reliably. Liabilities are recognised in the balance sheet when the Entity has a legal or constructive obligation as a result of a prior event, and it is probable that future economic benefits will flow out of the Entity, and the value of the liability can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is effected as described below for each financial statement item. Anticipated risks and losses that arise before the time of presentation of the annual report and that confirm or invalidate affairs and conditions existing at the balance sheet date are considered at recognition and measurement. Income is recognised in the income statement when earned, whereas costs are recognised by the amounts attributable to this financial year.23830002843000Foreign currency translationOn initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Receivables, payables and other monetary items denominated in foreign currencies that have not been settled at the balance sheet date are translated using the exchange rate at the balance sheet date. Exchange differences that arise between the rate at the transaction date and the rate in effect at the payment date, or the rate at the balance sheet date, are recognised in the income statement as financial income or financial expenses. Property, plant and equipment, intangible assets, inventories and other non-monetary assets that have been purchased in foreign currencies are translated using historical rates. The assets and liabilities of foreign branches are translated into the presentational currency at the rate of exchange ruling at the balance sheet date. The results of foreign operations are translated at the average rates of exchange during the year. Exchange differences arising on translation of the opening net assets and results of foreign operations are recognised directly in equity.23830002843000Gross profit or lossReferring to section 32 of the Danish Financial Statement Act. the income statement starts at gross profit or loss. Gross profit or loss comprises revenue and external expenses.49010003726000RevenueRevenue comprises fees for the year.6700004Other external expensesOther external expenses include expenses for administration.213000Staff costsStaff costs comprise salaries and wages, and social security contributions, pension contributions, etc for entity staff.Depreciation, amortisation and impairment lossesAmortisation, depreciation and impairment losses relating to property, plant and equipment comprise amortisation, depreciation and impairment losses for the financial year, calculated on the basis of the residual values and useful lives of the individual assets and impairment testing as well as gains and losses from the sale of property, plant and equipment.0Other financial incomeOther financial income comprises payables and transactions in foreign currencies as well as tax relief under the Danish Tax Prepayment Scheme etc.-839000Other financial expensesOther financial expenses comprise interest expenses, payables and transactions in foreign currencies as well as tax surcharge under the Danish Tax Prepayment Scheme etc.-839000Tax on profit/loss for the yearTax for the year, which consists of current tax for the year and changes in deferred tax, is recognised in the income statement by the portion attributable to the profit for the year and recognised directly in equity by the portion attributable to entries directly in equity. The Entity is jointly taxed with all Danish subsidiaries in the Radisson Group and other Danish companies controlled by Jin Jiang International Holdings Co., Ltd. The current Danish income tax is allocated among the jointly taxed companies proportionally to their taxable income (full allocation with a refund concerning tax losses).2500000Intellectual property rights etc.Intellectual property rights etc. comprise development projects completed and in progress with related intellectual property rights, acquired intellectual property rights and prepayments for intangible assets.Intellectual property rights acquired are measured at cost less accumulated amortisation. Patents are amortised on a straight-line basis over their remaining duration, and licences are amortised over the term of the agreement.​ ​Intellectual property rights etc. are written down to the lower of recoverable amount and carrying amount.2500000Property, plant and equipmentOther fixtures and fittings, tools and equipment are measured at cost less accumulated depreciation and ​impairment losses. ​​Cost comprises the acquisition price, costs directly attributable to the acquisition and preparation costs of ​the asset until the time when it is ready to be put into operation. ​​The basis of depreciation is cost less estimated residual value after the end of useful life. Straight-line depreciation is made on the basis of the following estimated useful lives of the assets:Useful life Other fixtures and fittings, tools and equipment5 yearsEstimated useful lives and residual values are reassessed annually. ​​Property, plant and equipment are written down to the lower of recoverable amount and carrying ​amount.-1704000ReceivablesReceivables are measured at amortised cost, usually equalling nominal value less writedowns for bad and doubtful debts.Deferred taxDeferred tax is recognised on all temporary differences between the carrying amount and the tax-based value of assets and liabilities, for which the tax-based value is calculated based on the planned use of each asset. However, no deferred tax is recognised for amortisation of goodwill disallowed for tax purposes and temporary differences arising at the date of acquisition that do not result from a business combination and that do not have any effect on profit or loss or on taxable income. Deferred tax assets, including the tax base of tax loss carryforwards, are recognised in the balance sheet at their estimated realisable value, either as a set-off against deferred tax liabilities or as net tax assets.670000PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at cost.1848000CashCash comprises bank deposits.Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value.1 Staff costs2024 EUR'0002023 EUR'000Wages and salaries52236Other social security costs26154297Average number of full-time employees14true1Grundlag for konklusion2 Unrecognised rental and lease commitmentsUnrecognised rent commitments are EUR 39,160 at 31 December 2024.Konklusion3 Contingent liabilitiesThe Company is jointly taxed with all Danish subsidiaries of the Radisson Group and other Danish companies controlled by Jin Jiang International Holdings Co., Ltd. The Company has unlimited joint and several liability for Danish corporation taxes and withholding taxes on dividends, interest and royalties under the joint taxation scheme. Tax payable on the Group’s joint taxable income is stated in the annual report of Radisson Hospitality Denmark ApS which serves as management Company for the joint taxation. The Company is jointly and severally liable with the jointly registered group enterprises for the total VAT liability.2025-07-044 Group relationsName and registered office of the Parent preparing consolidated financial statements for the largest group: Jin Jiang International Holdings Co., Ltd., Shanghai, China The consolidated financial statements are not published.Name and registered office of the Parent preparing consolidated financial statements for the smallest group: Radisson Hospitality AB, Stockholm, Sweden Group accounts are available at www.radissonhotelgroup.com2025-07-04true2023-01-012023-12-31CopenhagenCopenhagen S2300Regnskabsklasse BRevisionspåtegning2024-12-312024-01-0170Amager BoulevardRadisson Services A/S25441893339635562300 København SWeidekampsgade 6Deloitte Statsautoriseret RevisionspartnerselskabÅrsrapport2025-07-04Sophie Drejer