A new reduction method is proposed to investigate the behavior stability of rotor-bearing systems subject to a multifrequency rotational motion of their base. Combining the modal analysis and the construction of specific dynamic Ritz vectors, this method is able to deal with complex rotordynamics characteristics such as nonproportional damping, nonself-adjoint matrices, or time-varying parametric coefficients. This paper focuses first on assessing the accuracy and efficiency of the reduction method by computing time history and spectral responses of full and reduced models due to multifrequency base excitations. Its main potential is then highlighted in the parametric stability analysis through Floquet theory. The proposed numerical examples are composed with academic and industrial rotors, both modeled with one-dimensional Timoshenko beam finite element and supported by hydrodynamic journal bearings.