Radisson Hotel Group plans to double its portfolio in Morocco and South Africa to reach 25 hotels by 2030, said Ramsay Rankoussi, the group’s vice-president of development for Africa and Turkey.
The group’s South African assets, among others, already include two Radisson RED hotels, one in Rosebank and one in Cape Town, and three Radisson Blu Hotels, at the Victoria & Alfred Waterfront, uMhlanga in KwaZulu-Natal and in Gqeberha.
“Following a strong first half of the year, we are committed to maintaining this momentum in the second half, with a particular focus on expanding in key markets such as Morocco and South Africa. Our goal is to double our portfolio in these two countries, aiming to reach 25 hotels by 2030,” Rankoussi said at the release of the group’s first-half results yesterday.
In the first half of 2024, the group did over 130 new signings and openings across Europe, Middle East and Africa (EMEA) and in the Asia-Pacific region. This included the Radisson RED brand expanding into several markets, such as Ireland, New Zealand, Thailand, Laos, and China, bringing its global portfolio to nearly 90 hotels.
In EMEA, Radisson Hotel Group achieved “significant portfolio growth”, including the signing of the first Radisson Collection in Paris and the opening of the Radisson Collection Hotel, Roma Antica in Rome. A Radisson Collection Residences was also signed in Riyadh, and this would be the group’s 10th property in the city and 44th in the Kingdom of Saudi Arabia when it opens later this year.
“We signed seven new hotels in Africa … reflecting significant growth in key African markets like Morocco, Nigeria, Tunisia, and Ethiopia, along with our eagerly anticipated debut in Tanzania. These new signings underscore our commitment to both conversion opportunities and portfolio diversification, introducing new brands and solidifying our presence in those rebounding markets,” said Rankoussi.
In APAC, Radisson reported significant developments in China, adding over 5 000 keys through new openings, expansion that contributed to a portfolio of over 400 hotels across various stages of development and operation in the region.
BUSINESS REPORT