Rezidor continues expansion in Middle East
Contributors are not employed, compensated or governed by TD, opinions and statements are from the contributor directly
The Rezidor Hotel Group is pressing on with its emerging markets growth strategy which yielded 32 project signings (6,400 rooms) and 14 hotel openings (3,300 rooms) in year 2013.
Wolfgang M. Neumann, president & CEO of Rezidor said; “We have achieved our signings target, and remained concentrated on asset-light, non-committed growth in emerging markets and selected focus countries.
“Seventy-five percent of all signings represent projects in our key development regions and destinations, and are well balanced between our core brands Radisson Blu and Park Inn by Radisson.”
The rate of portfolio expansion slowed however, due to the nature of emerging market operations and the tendency for construction delays. Despite these challenges, the group did successfully launch nine properties in the region last year.
Story box: New signings in the region in 2013 included:
1. Park Inn by Radisson Riyadh Olaya
2. Radisson Blu Resort Jizan
3. Radisson Blu Resort Al Khobar Aziziya
4. Radisson Blu Hotel & Residence Unaizah
5. Park Inn by Radisson Riyadh
6. Radisson Blu Hotel
7. Jeddah Al Salamah
8. Park Inn by Radisson Hotel Bahrain
9. Park Inn by Radisson Hotel & Residence Duqm in Oman
Following an in-depth year-end review, Rezidor’s current pipeline features 19,500 rooms under development.
Fee-based growth through a solid pipeline is on track to be a strong enabler of Rezidor’s turnaround programme “Route 2015”, with a planned contribution of 2-2.5% to the overall target to increase the EBITDA Margin by 6-8% by the year 2015.
A member of the Carlson Rezidor Hotel Group, Rezidor operates the core brands Radisson Blu and Park Inn by Radisson in Europe, the Middle East and Africa (EMEA).
Comments are closed.