Radisson Hotel Group Delivers On Its Strategic Transformation Plan And Plans To Sign 330 Hotels In 2022
Building on Radisson Hotel Group’s 2021 milestone as the most successful year ever in terms of signings, the Group shared an update at this year’s International Hospitality Investment Forum (IHIF) outlining its impressive projections that include the opening of 15,000 rooms and achieving the signing of 330 hotels total in EMEA and APAC in 2022, as well as planned targets for continued growth of the Group’s midscale lifestyle brand, prizeotel.
Throughout 2021, Radisson Hotel Group, with the support of its shareholders Jin Jiang and Sino-Ceef, has continued to roll-out its five-year transformation plan which resulted in the implementation of best-in-class systems to maximize revenue across the Group’s hotels, as well as continued investment in the Group’s operating systems, resulting in the delivery of the best GOP in the industry. With 330 planned signings in 2022, the Group surpasses the achievements of 2021 which was the most successful year ever in the company history in terms of signings.
Radisson Hotel Group has had a strong start to 2022, signing and opening over 50 hotels to date across its EMEA and APAC portfolio. Looking ahead to the rest of 2022, the Group plans to double its number of signings in EMEA by adding 45 properties, and exponentially increase its signings in APAC by adding 285 properties, together with its partners, as the Group moves closer to achieving its goal of doubling its global portfolio through growth in APAC by 2025. A particular focus for growth across EMEA is the expansion of the Group’s midscale lifestyle brand, prizeotel.
The Group’s comprehensive portfolio of nine diverse brands with the right solution for every market is thriving. Since the launch of Radisson Collection in 2018, the brand’s portfolio has grown to over 45 properties, including recent openings in Berlin, Bilbao, and Riyadh. Radisson Blu continues to cement its position as the biggest upper-upscale brand in Europe and counts close to 400 hotels across its global portfolio, with recent additions in Spain, Madagascar, Greece, Turkey, India as well as Sri Lanka. The Radisson brand grew to nearly 300 hotels worldwide, with recent additions in Sri Lanka, Maldives, India, Vietnam, France, Turkey, as well as Tunisia. The Radisson RED portfolio expanded to nearly 70 hotels worldwide. The Group also strengthened its position in the Resort and Serviced Apartments sectors further with recent additions in India, Vietnam, Greece, Senegal, Poland, and Turkey.
Following the successful introduction of Radisson Individuals in 2020, the brand now includes over 55 hotels in operation and under development globally. In India, the Group plans to more than double its Radisson Individuals footprint by 2025. In line with market demand for unique, retreat-focused experiences, Radisson Hotel Group recently launched Radisson Individuals Retreats, a lifestyle brand extension specifically tailored for the Indian market.
The Group revealed expansion plans for its prizeotel brand which offers owners and investors a new, easy conversion solution. prizeotel is a value-engineered, high-design-focused brand for tech-savvy, connected midscale lifestyle travelers in vibrant, urban locations offering convertible, flexible spaces traveler. The Group plans to expand its existing prizeotel portfolio with 45 new signings in select EU countries in the next five years, as well as introduce the brand to the UK.
“Radisson Hotel Group has had an impressive start to the year with strong progress on our ambitious transformation and growth plan. Thanks to our five-year strategic plan, we quickly put in place all the necessary tools for a swift rebound which resulted in increased bookings since the start of the year, as leisure travelers sought to make up for the last two years, and a successful end to 2021 with the most signings in the company’s history. A key factor encouraging consumers to book with us has been their interest in sustainability and Radisson Hotel Group’s strong responsible business commitment. We continue to be leaders in sustainability with our commitment to Net-Zero by 2050 and by playing a key role in the development of the Hotel Sustainability Basics in cooperation with the WTTC, which raises the global starting level of hotel sustainability worldwide.,” says Federico J. Gonzalez, CEO, Radisson Hotel Group.
“Our brands, shareholders, people, and Yes I Can attitude are key strengths of Radisson Hotel Group. We continue to finetune our brand offering to ensure that we remain relevant to owners, investors, and guests. Our approach is agile, flexible, and responds swiftly to changing market demands, as seen with our Radisson Individuals brand which has delivered fantastic growth and will continue to drive growth numbers in 2022. We are looking forward to our exponential expansion in Asia Pacific and continuing our successful journey in EMEA which now also includes the rollout of prizeotel in key European cities” says Elie Younes, Global Chief Development Officer, Radisson Hotel Group.