Continued focus on asset-light growth in Emerging Markets
Rezidor, one of the most dynamic hotel companies worldwide and a member of the Carlson Rezidor Hotel Group, has successfully ended the year 2013 with a total of 32 project signings (6,400 rooms) and 14 hotel openings (3,300 rooms). In the fourth quarter of 2013 alone, Rezidor has signed 8 projects with 2,150 rooms and opened 4 hotels with 950 rooms.
“We have achieved our signings target, and remained concentrated on asset-light, non-committed growth in Emerging Markets and selected focus countries: 75% of all signings represent projects in our key development regions and destinations, and are well balanced between our core brands Radisson Blu and Park Inn by Radisson”, said Wolfgang M. Neumann, President & CEO of Rezidor. 35% of all signed rooms are located in converted or half-built properties and scheduled to open within the next 18 months to further strengthen Rezidor’s operating portfolio within a short timeframe.
Following an in-depth year-end review, Rezidor’s current pipeline features 19,500 rooms under development. “We have thoughtfully analysed our full pipeline, and made deliberate adjustments in line with our strategy and commercial approach”, commented Elie Younes, Senior Vice President & Head of Group Development at Rezidor. Fee-based growth through a solid pipeline is on track to be a strong enabler of Rezidor’s turnaround programme “Route 2015” – with a planned contribution of 2-2.5% to the overall target to increase the EBITDA Margin by 6-8% by the year 2015.
Rezidor’s hotel openings slowed down slightly in 2013 due to the focus on Emerging Markets where construction delays occur more often than in Mature Markets. Among the flagship openings were the Radisson Blu Hotel Istanbul Pera, the Radisson Blu Hotel Maputo, and the Radisson Blu Paradise Resort & Spa Sochi. “With a total of 5 operating hotels in and around Sochi, we are well prepared for the 2014 Winter Olympics. This complements our growing presence in Moscow where we recently signed 2 new congress hotels with more than 1,000 rooms”, added Elie Younes. Rezidor’s portfolio in Greater Moscow grew to 11 hotels with more than 3,700 rooms in operation and under development, and underlined the group’s position as the leading international hotel operator in Russia/CIS & Baltics.