Radisson Hotel Group Isn’t Finished With Transformative Strategy
Photo Credit: Radisson Hotel Danang in Vietnam opened this year. Source: Radisson Hotel Group. Radisson Hotel Group.
Skift Take
Radisson Hotel Group is nearly unrecognizable from the company it was five years ago, thanks to a strategy shift and metabolism boost. Now, turnaround artist and CEO Federico González aims to double the company's footprint by 2025.
Few hotel companies have changed as much in the past five years as Radisson Hotel Group. The company, which had struggled with mediocrity, did a strategy rethink and retooled itself. The European-based company is still relatively small, with about 1,700 hotels and resorts open or in development. But it aspires to double its portfolio by 2025.
Last year the group signed nearly 200 properties. This year it aims to open 15,000 rooms and sign 330 properties.
Its biggest growth market is Asia Pacific, where it has more than 400 properties in operation and development today and expects to add 1,700 by 2025. The company looks for a mix of organic growth, mergers and acquisitions, master license agreements, and leases.
The growth may make the company more compelling as a merger or acquisition target. Jin Jiang International Holdings, a Shanghai-based tourism powerhouse, became the majority owner of Radisson Hotel Group in late 2018. Jin Jiang also has a 13 p
