Under CEO Federico González, who arrived in 2017, Radisson Hotel Group has metamorphised into a nearly unrecognisable company over the past 5 years.
Chinese player Jin Jiang International Holdings became majority owner of Radisson in 2018, and this acquisition has seen the company grow solidly across all markets, particularly Asia-Pacific. Of its 1,700 open or in-development hotels and resorts, more than 400 are now in the aforementioned region. A master franchise agreement between Jin Jiang and Radisson last year allowed the company to sign 25,000 branded keys in Greater China.
Radisson is now seeking to double its global portfolio by 2025, this includes growing its Asia-Pacific asset by some 1,700 properties. Last year, the company signed just under 200 properties and by the end of 2022 it aims to sign a further 330 and to open 15,000 rooms as part of its global portfolio. Organic growth, mergers and acquisitions, master license agreements, and leases are the primary means by which the company plans to support its growth.
The company has also undertaken some transformational steps in order to support its growth plans. Its has notably outsourced its North American portfolio in a $675 million deal with Choice Hotels and also worked to refine its sub-brands. Radisson’s 9 brands have been reworked and repositioned to cover everything from luxury clients to economy business travellers. The creation of Radisson Individuals during the Covid-19 pandemic has also brought independent hotels under the group’s portfolio, attracting owners with its distribution platforms and networks whilst allowing them autonomy in terms of their property’s identity.