Radisson Eyes 500 Hotels in India by 2030: EVP González

Copyright © HT Digital Streams Limit all rights reserved. A file photo of a Radisson resort in Saputara. Summary With more than 140 operational properties and another 70 in the pipeline, India is now Radisson’s second most important market to China. New -delhi: Radisson Hotel Group, which runs brands such as Radisson Blu, Radisson, Radisson Red and Park Inn by Radisson, is working on the expanding travel market in India, which targets a 500 hotels portfolio by 2030. Properties, his top manager said. “There are very few countries where we have 200 hotels. Is the 500 hotel goal ambitious? Yes. But think of the size and opportunity of India,” said Federico J. González, executive vice president, Radisson Hotel Group, and talked to India this week. “How things form in India, we learn what to do in other parts of the world,” he added. China remains Radisson’s most important market worldwide with over 400 hotels – mostly franchise – but India is fast catching up. “At the moment, China is a bit stable, if not slightly lower, after the last few years of the pandemic. In contrast, India is growing significantly. We were one of the first to see the event, not only in subways, but also in secondary and tertiary cities,” González said. The group, owned by Jin Jiang International Holdings Co., a Chinese state -run hospitality conglomerate, operates a portfolio of ten hotel brands from mid -scale to luxury. The group has expanded its global footprint while adapted to develop travel trends, with India coming up as an important growth market. Since Jin Jiang was purchased in 2018, Radisson has focused on strengthening his presence in Emea and Asia, and leaving the America business in 2022 by a sale to Choice Hotels. The increase in tourism said he said the company saw a constant achievement in India in revenue per available room (revpar), which contributed significantly to EMEA growth. Revpar is a metric hotelers used to measure how much money a room earns per night if they are occupied. Worldwide, González said tourism trends remain positive with rising average income and improved travel infrastructure that brings more consumers to. “Also in India we see a lot of domestic journey, and also a growth in the number of towns, which makes the potential significant significant,” he said. While Radisson works mainly in the middle market space here, it also has a presence in the luxury segment. González said that Indian consumer-ac withross price-to-be-out-of-out is value-aware, a trait that affects their choices. Looking beyond India, he said, the question of the journey develops rapidly. “We expect a shift to higher expectations for personal experiences and quality accommodation. Consumers everywhere become more aware of what good hospitality looks like,” he said. In India, average room rates are high, and although hotel occupancy is not growing significantly, the average daily rates (ADRs) are higher. Latin America also performs well. González sees the most important opportunity in India’s incoming tourism. “There’s a big growth potential there,” he said. The group has undergone structural shifts since mid-2022, when Choice Hotels Radisson’s Americas business-attributed 600 franchise hotels and 67,000 rooms for $ 675 million. The deal, which includes brands such as Radisson Blu and Country Inn & Suites, has expanded Choice’s range in luxury markets across the US, Canada, Latin America and the Caribbean. Strategic shift after selling his American business, Radisson rebalanced his portfolio. The group now has more hotels than before, with an equal distribution of managed and franchise properties, and stronger profitability. “Our gross operating profit is higher today than before the sale of choice,” González said. González considers air connection as an important driver for global tourism and hotel growth. “Airlift is still not quite back, and everything from Europe to China and other major international destinations will be a huge event once airlines will fully return to capacity,” he said. Catch all the corporate news and updates on live currency. Download the Mint News app to get daily market updates and live business news. More Topics #hospitality Sector Read the following story