On Wednesday, Radisson Hotel Group announced the launch of its luxury lifestyle brand, Radisson Collection, in India. The first 300-key hotel under this brand will be located in Hyderabad and will be operational by 2026. The brand was initially introduced globally in 2018 and currently has around 50 properties worldwide.
According to Elie Younes, Radisson’s Executive Vice President and Global Chief Development Officer, and Zubin Saxena, Managing Director of the firm in India, India is a significant market for Radisson, offering opportunities for investors and guests. The brand has been present in India for the past 25 years and currently operates 110 hotels with plans to add approximately 30 more.
Younes stated that Radisson has already surpassed its 2019 numbers in India, not just in comparison to other regions but also when compared to some other parts of the world. He added that like-for-like revenue per available room is driving the average rate rather than occupancy, indicating that customers are willing to pay 20% more than they were in 2019.
The company plans to add around 300 hotels in its Asia and EMEA regions this year, with 10% of those expected to be in India. Outside of the Americas, India is one of the company’s top priority markets due to its healthy economic growth and inflation rates.
Radisson currently owns and operates 2,000 hotels globally across nine brands, with 50% of its portfolio in tier two and three markets in India. The company plans to add eight hotels to its new brand, Radisson Collection, in gateway cities like Delhi, Mumbai, Bengaluru, Chennai, Kolkata, and Goa. Younes noted that the brand has achieved an average room rate of 25% more than its existing brands in the same locations.
Radisson Hotel Group competes with brands like Marriott International, ITC Hotels, and Accor in India, according to the latest Trends & Opportunities 2022 report by Hotelivate.
Indian Hotels Co. Ltd, which operates the Taj group of hotels, has the highest number of hotel properties in India but ranks second to Marriott International due to its lower rooms per hotel ratio. Radisson is the third-largest operator of rooms in India, with over 12,000 rooms.