Radisson Hotel Group announced plans to grow its presence in the Asia-Pacific region 400% by 2025.
Radisson’s APAC Expansion Plan calls for an additional 1,700 hotels and resorts to its current portfolio of 400, according to a news release. The growth strategy includes a mix of organic growth, mergers and acquisitions, master license agreements and leases for key locations. The company is focusing on five strategic growth markets: India, Thailand, Vietnam, Australia and New Zealand.
“Our plans for the APAC region represent one of the most important milestones in our company’s history,” said Katerina Giannouka, president, Asia Pacific, in the release. “Focusing on Asia Pacific’s most dynamic destinations and introducing multiple new brand options will present outstanding opportunities for expansion.
“Asia is home to many of the world’s largest populations and fastest-growing economies; as the world reopens, travelers from across Asia will play a pivotal role in the global recovery.”
The expansion plan is the latest phase of Radisson’s five-year transformation strategy. It builds on the company’s existing initiatives to use the potential of its majority owner, Jin Jiang International, and its subsidiaries and China as both a destination and source of outbound business.
In India, Radisson has a portfolio of more than 100 properties in operation in more than 60 locations. The plan calls for leveraging its existing relationships and finding new partnerships to strengthen its status.
The company plans to create dedicated business units in Bangkok, Ho Chi Minh City, Jakarta and Sydney to build local development and operations teams that will offer local language and expert support capabilities.
The strengthened ground presence in these markets will provide owners with access to an expanded collection of brands, the release states. Radisson has a portfolio of nine brands along with a recently announced brand extension, Radisson Individuals Retreats, for the Indian market.
In select markets in the region, Radisson has the rights to develop and manage the 7 Days and Metropolo brands through individual master lease agreements with affiliates of Jin Jiang. It has also retained exclusive license rights to develop and manage Louvre Hotels Group’s Golden Tulip brand and non-exclusive rights to the Kyriad and Campanile brands in select markets in Southeast Asia and Australasia.