Radisson Hotel Group will strengthen its foothold in Asia Pacific in 2023 after doubling the signings last year.
During 2022, the hospitality sector in the Asia Pacific region reported USD8.4 billion in hotel transactions from Q1 to Q3. The tourism industry has signalled a better-than-expected recovery, with visitor numbers surpassing forecasts with international tourism arrivals poised to rise by 30% in 2023 compared to 2022. The World Travel & Tourism Council also predicted that travel revenue would contribute to overall economic growth by 71%.
“The APAC region is poised for domestic and international tourism recovery and primed for hospitality development in 2023. With our strategic plans for the region in full swing, Radisson Hotel Group is ready to capture the rebound of travel and realise significant regional growth over the next year,” commented Radisson’s chief development officer, Asia Pacific Ramzy Fenianos.
In 2022, Radisson Hotel Group strengthened its operations in five key markets. It established local business units in Jakarta, Sydney, Bangkok and Ho Chi Minh City, which will drive its in-market development strategy while increasing the close collaboration with its local owners and partners.
In China, Radisson Hotel Group continues to expand rapidly through organic and master franchise agreements. The company signed and opened over 80 hotels in China under the brands Radisson RED, Park Inn by Radisson, Park Plaza, and Country Inn & Suites by Radisson.
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