Globally, the group wrapped up 2023 with exceptional growth, adding over 30,000 keys to its international portfolio of 10 leading brands through openings and signings. The Group has grown its business by nearly 50% since the launch of its transformation plan in 2018. It also celebrated a new company record with the addition of its largest number of keys to its portfolio, amounting to over 30,000 keys through openings and signings.
In Africa, the group maintained its expansion momentum in 2023, with eight hotel signings, adding over 1,600 rooms to its robust African portfolio. With this progress, it is well on its way to achieving its objective of reaching 150 hotels in Africa over the next five years, up from its current count of 100 hotels.
New market entries in Gambia and Nigeria marked significant additions to the group's hotel signings. Radisson Blu Beach Resort & Spa, Banjul, entered Gambia, while Radisson Hotel Benin City debuted in Nigeria.
The group's stronghold in Nigeria was further reinforced with the signings of Radisson Collection Hotel & Conference Center, Abuja; Radisson Blu Hotel, Abuja CBD, and Radisson RED Lagos VI. This expanded the portfolio to 12 hotels and over 1,700 rooms, solidifying the Group's leadership in the Nigerian market.
Highlighting the group’s priorities in Africa for 2024, Ramsay Rankoussi, vice president, business development for Africa and Turkey at Radisson Hotel Group, says: "We have an exciting year ahead with five hotel openings in Africa, reinforcing our market leader stance in our key countries such as Egypt, Morocco and South Africa but also maintaining the fastest growth across the continent in tangible openings.
"Building on the momentum of the Radisson Collection Resort, Marsa Alam Port Phoenice signing, introducing the Radisson Collection brand in the country with an exceptional resort, we will also open the first standalone serviced apartments in Egypt with Radisson Residences Cairo Heliopolis within the coming months."
In Morocco, the group has further enhanced its portfolio with the opening of Radisson Hotel Casablanca Gauthier, the debut of the Radisson brand in Morocco, scheduled for Q2. This latest opening adds to the growing potential of the country which the group has made its priority.
In South Africa, the group is set to add its 12th hotel with the opening of Radisson Hotel Middelburg later this year, following the successful opening of its first safari hotel in Africa with the recently announced Radisson Safari Hotel Hoedspruit.
"In addition to these key markets, we are proactively pursuing East Africa this year, with Kenya and Tanzania identified as market priorities. As resorts continue to play an important role in our global strategic growth plan, we will assemble on our successful resort expansion in Africa, which has included the recent openings of Radisson Blu Resort Mosi-oa-Tunya in Livingstone and our debut in Reunion Island with the opening of Radisson Hotel Saint-Denis," adds Rankoussi.
In the Middle East, the group opened over 1,000 keys in the past 12 months and is on track to open 2,000 keys in 2024. The Group continues to drive its aspirations in the region, targeting 150 properties to be operational or under development across the Middle East by 2030.
In Q4 2023, the group unveiled new hotels in Oman, including Muscat Levatio Suites and Radisson Hotel Muscat Panorama. The first Radisson Individuals in Saudi Arabia, Vivid Jeddah, was introduced. Additionally, agreements were signed for Park Inn by Radisson Resort Bimmah and Radisson Serviced Apartments Salalah. In Jordan, Radisson Blu Hotel, Amman Galleria Mall, opened with 178 keys, catering to luxury-seeking travellers.
The group also announced the opening of Radisson Hotel & Residences Erbil in Iraq's vibrant city of Erbil, marking a significant development for the Group in a new market.
In addition, Pakistan remains a focus for the group by signing four hotels and serviced apartments in the capital city of Islamabad with the first opening in this new market anticipated for 2025.
Looking ahead, the group plans further expansion in Makkah with the debut of Park Inn by Radisson Makkah Thaker West and of Park Inn by Radisson Makkah Thakher East in Q1 with new standards for contemporary lodging in the holy city of Makkah to meet the needs of an increasing number of international and regional visitors.
Also set for opening in early 2024 is the Radisson Hotel Jeddah Tahlia Street as well as the introduction of the Park Inn by Radisson brand to Kuwait with the opening of Park Inn by Radisson Hotel & Apartments Kuwait.
Elie Milky, vice president, business development, Middle East, Greece, Cyprus, and Pakistan at Radisson Hotel Group, says: "Our ambitions remain strong as we continue our robust expansion efforts in the region, focusing particularly on resorts as well as serviced apartments.
"We continue to penetrate new markets as we have seen in Erbil and Amman while we strengthen our position with strategic owners in established cities such as Jeddah, Riyadh, Kuwait, Makkah and Muscat, to name a few. Our value proposition to our existing and new owners continues to improve with a comprehensive brand offering and a pragmatic conversions approach to drive openings."
