Carlson Rezidor Hotel Group currently has 140 hotels operating and under development across 60 cities in India, including 16 state capitals. But as we've noted before, the company is still looking to grow.
“With continued investment in technology and revenue driving platforms, we are optimistic and in a good position to double our portfolio size in the mid-term with future opportunities in anchor markets and portfolio deals,” Raj Rana, CEO South Asia, Carlson Rezidor Hotel Group, said in a statement.
The company's Indian hotels did well last year, boosting its brands' appeal for investors. The operating portfolio’s Compounded Average Growth Rate (CAGR) is 17 percent since 2010. The group also saw healthy RevPAR growth in India at an 8-percent increase (over the overall industry’s performance of 6 percent) for 2016.
Recent Development
Carlson Rezidor is on track to open eight hotels this year, and recently launched Radisson Blu Jammu and Radisson Blu Atria Bengaluru in the first quarter of 2017.
To drive organic growth, the group’s South Asia team expanded its presence in state capitals, while accelerating growth in emerging secondary and tertiary cities as connectivity and infrastructure in the country improves.
The upper-upscale Radisson Blu brand is popular in India due to its high visibility and strong connection with Indian consumers. The midscale and upscale brands (Radisson, Park Inn by Radisson and Country Inns & Suites) are also seeing "good traction" in India.
In addition to signing new-build hotels, the group’s India portfolio has also used strategic conversions from branded hotels reaching agreements approaching the end of their life cycle. Conversion opportunities have helped grow the group’s brand presence efficiently and expediently in recent new-to-market hotels in strategic secondary and tertiary cities.