SINGAPORE, 16 March 2017: Carlson Rezidor Hotel Group, announced, Wednesday, strong 2016 results with 77 hotel openings worldwide and 122 new properties signed, marking its fourth consecutive year of signing increases.
The global portfolio now includes 1,143 hotels and a inventory of 180,250 rooms as well as a global pipeline of 303 hotels and 50,000 rooms currently under development.
The group reported system-wide revenues of USD7.2 billion which were flat year-over-year.
Growth in the region has been steady with the opening of 14 hotels in 2016. The Group’s long-term commitment s as a leading international hospitality chain in India continues with a strong portfolio of 140 hotels in operation or in various stages of development.
Increased strength and alignment in branding and operations also results from the company’s successful integration of the master license agreement for the Country Inns & Suites By Carlson brand in India.
In China, the group opened its first hotel under the Park Inn by Radisson brand in Libo bringing the property count for Carlson Rezidor to 16 hotels in operation and 24 under development.
Significant signings were also achieved with Radisson RED in Guangzhou, China and Kuala Lumpur, Malaysia, two key gateway cities in Asia.
Overall, the Asia Pacific operating portfolio’s Compounded Average Growth Rate (CAGR) was 17% per cent since 2010 with a strong margin expansion to drive returns on investment.
“Asia Pacific continues to be one of the most promising and energetic growth regions,” said Carlson Rezidor Hotel Group Asia Pacific president, Thorsten Kirschke. “The underlying hotel performance on a like-for-like basis has yielded robust improvements of 8% (800 bps) GOP growth. We continue to be on track to achieving our goal of attaining 200 operating hotels in our Asia Pacific portfolio by 2020.”