Radisson Hotel Group plans Asia-Pacific expansion as travel restrictions ease

The logo of the Radisson Red hotel group is pictured at its main entrance in central Brussels, Belgium August 4, 2017. REUTERS/Francois Lenoir

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MANILA, April 21 (Reuters) – Radisson Hotel Group plans to add 150 hotels in Asia-Pacific this year as it builds on travel, tourism and economic recovery in the region, its CEO said on Thursday.

Radisson, one of the world’s largest hotel groups, is in the midst of a five-year plan to double its properties to 3,200 hotels in 120 countries by 2025.

“Overall, Asia plays an important role in our business plans because of the significant presence we can build in the future,” Radisson CEO Federico Gonzalez told reporters.

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Last year, Radisson signed agreements to set up 200 hotels worldwide, including 137 in Asia-Pacific. It takes three to five years for hotel offers to reach the operating stage.

Radisson sees its portfolios in China and India grow to 1,000 and 200 hotels, respectively, by 2025, Gonzalez said, adding that about 150 deals will be signed this year. But China’s strict lockdown measures could impact the completion of new hotels, he said.

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When the company’s expansion program ends, Asia-Pacific will account for most of Radisson’s hotel rooms, although a large portion of revenue will still come from Europe.

Revenues and profits are expected to return to pre-pandemic levels by next year, Gonzalez said, as COVID-19 restrictions are lifted around the world.

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Reporting by Neil Jerome Morales; Editing by Kanupriya Kapoor

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