Radisson Hotel Group plans to add 150 hotels in Asia-Pacific region this year as it banks on travel, tourism, and economic recovery in the region. “Overall, Asia plays a significant role in our business plans because of the significant presence that we can build in the future,” Radosson CEO Federico Gonzalez. The hotel group is in the midst of a five-year plan to double its properties to 3,200 hotels in 120 countries by 2025.
Radisson sees its China and India portfolios increasing to 1,000 and 200 hotels, respectively, by 2025, Gonzalez said, adding that around 150 deals will be signed this year. But China’s stringent lockdown measures could impact the completion of new hotels, he said.Travel in Asia-Pacific is trailing the rest of the world and should expect a bumpy recovery, because of slower border reopenings, a Booking.com executive said in March. At the end of the company’s expansion programme, Asia-Pacific will account for most of Radisson’s hotel rooms though much of revenues will still come from Europe.
News Source – Reuters
