• Friday, May 24, 2024
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Radisson Hotel Group leads growth in Q1 2024 with focus on APAC, new markets

Radisson Hotel Group leads growth in Q1 2024 with focus on APAC, new markets

At this year’s International Hospitality Investment Forum (IHIF), Radisson Hotel Group announced its latest development update and continued growth strategy across the Group’s diverse portfolio of 10 leading brands. The Group’s current portfolio consists of more than 1,340 properties in 95+ countries, including Radisson Blu, the largest upper upscale brand in Europe for the 12th consecutive year, and Radisson, the fastest growing upscale brand in the industry in EMEA and South East Asia.

Following a record-breaking 2023, Radisson Hotel Group further extended its portfolio in Q1 2024 with strategic signings and openings across EMEA and APAC. The United Kingdom, India and China continue to be leading growth countries, along with exciting debuts in new thriving markets and resort destinations, such as Montenegro, Indonesia and Laos, with the signings of respectively Radisson Blu Hotel & Resort, Kolasin; Radisson Resort Anyer, the Group’s first resort offering a glamping concept, and Radisson RED Vientiane in the capital of Laos.

Elie Younes, executive vice president and global chief development officer at Radisson Hotel Group, said, “Over the last 5 years, we have grown the business by nearly 50 percent and continue to achieve incredible results thanks to the trust of our partners and relevance of our brands. In Q1, we unlocked further opportunities for our owners and guests with over 50 properties opened and signed. We find solutions in the current difficult lending climate and look forward to adding more hotels and resorts as we look ahead to the rest of this year.”

Radisson Hotel Group’s success in EMEA continues to grow from strength to strength, with Radisson Blu leading the way as the largest upper upscale brand in Europe. More than 30 percent of the Group’s growth in Q1 2024 in EMEA consisted of new Radisson Blu signings, including properties in Italy and Montenegro. The Radisson Individuals portfolio grew with key signings in the United Kingdom and France including the seaside The View Hotel Folkestone, a member of Radisson Individuals and the boutique La Villa d’Italie Menton, a member of Radisson Individuals. Milestone openings included the Group’s first safari hotel in South Africa, Radisson Safari Hotel Hoedspruit, the Group’s sixth Radisson Collection property in Italy, Radisson Collection Hotel, Roma Antica, and the vibrant Radisson RED brand’s debut in Southeast Europe, Radisson RED Belgrade, in partnership with PPHE Hotel Group (‘’PPHE’’).

Since the expansion of the Group’s strategic partnership with PPHE, first announced in 2022, Radisson Hotel Group and PPHE have opened several award-winning properties, including Grand Hotel Brioni Pula, a Radisson Collection Hotel,art’otel London Battersea Power Station, and art’otel Zagreb as part of the integration of the lifestyle brand art’otel into the Group’s dynamic brand umbrella of 10 diverse brands. Hot on the heels of art’otel existing properties in Amsterdam, Berlin and Cologne, new contemporary properties will open in key cosmopolitan cities and sought-after neighbourhoods, including Rome (art’otel Rome Piazza Sallustio) and the next London flagship property, art’otel London Hoxton, both set to open in H1 2024. Also set to open in Q2 2024 will be Radisson RED Berlin Kudamm, the second Radisson RED property in partnership with PPHE and Germany’s first Radisson RED property.

In Q1 2024, more than half of the Group’s signings and openings were achieved across APAC, in particular in India, China, and Cambodia, led by the Radisson RED and Radisson Blu brands. Key strategic signings included the Group’s first property and market debut in New Zealand, Radisson RED Auckland, along with additional signings such as Radisson RED Phnom Penhand Radisson Blu Hotel & Residences Phnom Penh (Cambodia), Radisson Blu Hotel, Ayodhya Uttar Pradeshand Radisson Blu Hotel, Lucknow Gomti Nagar, Uttar Pradesh in India.

Looking ahead to the remainder of 2024, Radisson Hotel Group will continue to harness the power of its 10 global brands – offering the right solution for each market, whilst at the same time continuing to build strategic partnerships and responding to the ever-changing environment, creating more opportunities for owners and guests.