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Radisson Hotel Group announces strong expansion across its brand portfolio in the first half of the year. Since the beginning of the year, the Group has welcomed over 100 hotel openings and signings in the APAC and EMEA regions. For its part, the Hilton Group is performing well, with second-quarter earnings exceeding initial forecasts.
In the first half of 2023, Radisson Hotel Group achieved strategic portfolio growth in the APAC (Asia-Pacific) and EMEA (Europe, Middle East and Africa) regions. The hotel group continued to implement its growth and expansion plan, focusing on strategic geographic extensions and adding the art’otel brand. The latter offers a singular value proposition for owners and guests by associating art with a lifestyle experience.
Since the beginning of the year, the group has opened over 100 new hotels and signed agreements for new properties in the APAC and EMEA regions.
“More than 65% of our owners own more than one hotel with us, thanks to the trust of our partners, the relevance of our brands and the dedication of our staff”, said Elie Younes, Executive Vice President and Global Development Director, Radisson Hotel Group. “We look forward to an exciting second half of the year and wish everyone a relaxing summer break.”
In the EMEA region, remarkable growth materialized in the first half of the year with the addition of over 8,000 rooms via brand signatures and openings in key destinations such as Greece, Germany, the UK, Italy, Switzerland, France, Saudi Arabia and Nigeria. Major openings and signings include the Radisson Collection Hotel Santa Sofia Milan, the Radisson Blu Hotel, Rome EUR, the Radisson Blu Hotel, Abuja CBD, the Radisson RED Edinburgh Airport, and a new Radisson extended-stay property in Zurich. The 430-room property is now the largest hotel in the Swiss metropolitan area. Agreements have also been signed for new Radisson properties in Ferrara, as well as for the Radisson Residences Limassol in Cyprus and the Radisson Hotel Mersin in Turkey, scheduled to open in the first quarter of 2024.
“A superb indication of our growth in Africa is the materialization of our pipeline in openings, placing us on track to reach our target of 150 hotels in the next five years”, said Ramsay Rankoussi, Vice President of Development for Africa and Turkey at Radisson. “We are also proud to reinforce our position as the most present operator in Africa with a new entry into the market as the sole hotel operator.”
In the APAC region, Radisson has significantly expanded its portfolio, adding more than 60 hotels, totaling over 8,000 rooms, in Vietnam, India, Thailand, the Philippines and China. In Thailand, the Group has expanded significantly, signing seven new hotels offering over 1,300 rooms in the last 12 months. Signings and major openings include the Radisson Hotel Ploenchit Bangkok, which will become the Radisson Group’s flagship hotel in Thailand when it opens in 2024, as well as a new Radisson RED hotel in Phuket, the Radisson Resort & Spa in Hua Hin, and the Radisson Resort & Suites Phuket. Last but not least, the Park Inn by Radisson brand in Bangkok, Thailand, is signed for the first time.
Hilton exceeds forecasts
Hilton Worldwide Holdings has published its results for the second quarter. Earnings per diluted share (EPS) for the second quarter amounted to $1.55, while diluted EPS adjusted for special items was $1.63. These figures both exceeded forecasts. Both figures exceeded the most optimistic forecasts. Net income reached $413 million, surpassing initial forecasts.
Adjusted EBITDA for the second quarter totaled $811 million, also exceeding initial estimates. Comparable system-wide revenue per available room (RevPAR) increased by 12.1%, on a currency-neutral basis, compared with the same period in 2022. Comparable system-wide RevPAR increased by 9.3%, currency-neutral, in the second quarter compared with the same period in 2019.
For the full year 2023, system-wide RevPAR is forecast to increase by 10% to 12% on a comparable basis and excluding currency effects compared with 2022. Net income for the year is expected to be between $1,387 million and $1,422 million, while adjusted EBITDA for the full year is expected to be between $2,975 million and $3,025 million.
Hilton approved 36,000 new rooms for development in the second quarter, taking its development pipeline to 440,900 rooms by June 30, 2023, an increase of 7% year-on-year. 14,000 rooms were added to the Hilton network during the second quarter, equivalent to 11,200 additional net rooms.
The repurchase of 3.3 million Hilton common shares was completed during the second quarter, resulting in a total return on capital of $510 million for the quarter and $1,123 million year-to-date to July, including dividends. Return on capital for 2023 is expected to be between $2.4 and $2.6 billion.
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Featured photo : ©Radisson[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
Radisson Hotel Group announces strong expansion across its brand portfolio in the first half of the year. Since the beginning of the year, the Group has welcomed over 100 hotel openings and signings in the APAC and EMEA regions. For its part, the Hilton Group is performing well, with second-quarter earnings exceeding initial forecasts.
In the first half of 2023, Radisson Hotel Group achieved strategic portfolio growth in the APAC (Asia-Pacific) and EMEA (Europe, Middle East and Africa) regions. The hotel group continued to implement its growth and expansion plan, focusing on strategic geographic extensions and adding the art’otel brand. The latter offers a singular value proposition for owners and guests by associating art with a lifestyle experience.
Since the beginning of the year, the group has opened over 100 new hotels and signed agreements for new properties in the APAC and EMEA regions.
“More than 65% of our owners own more than one hotel with us, thanks to the trust of our partners, the relevance of our brands and the dedication of our staff”, said Elie Younes, Executive Vice President and Global Development Director, Radisson Hotel Group. “We look forward to an exciting second half of the year and wish everyone a relaxing summer break.”
In the EMEA region, remarkable growth materialized in the first half of the year with the addition of over 8,000 rooms via brand signatures and openings in key destinations such as Greece, Germany, the UK, Italy, Switzerland, France, Saudi Arabia and Nigeria. Major openings and signings include the Radisson Collection Hotel Santa Sofia Milan, the Radisson Blu Hotel, Rome EUR, the Radisson Blu Hotel, Abuja CBD, the Radisson RED Edinburgh Airport, and a new Radisson extended-stay property in Zurich. The 430-room property is now the largest hotel in the Swiss metropolitan area. Agreements have also been signed for new Radisson properties in Ferrara, as well as for the Radisson Residences Limassol in Cyprus and the Radisson Hotel Mersin in Turkey, scheduled to open in the first quarter of 2024.
“A superb indication of our growth in Africa is the materialization of our pipeline in openings, placing us on track to reach our target of 150 hotels in the next five years”, said Ramsay Rankoussi, Vice President of Development for Africa and Turkey at Radisson. “We are also proud to reinforce our position as the most present operator in Africa with a new entry into the market as the sole hotel operator.”
In the APAC region, Radisson has significantly expanded its portfolio, adding more than 60 hotels, totaling over 8,000 rooms, in Vietnam, India, Thailand, the Philippines and China. In Thailand, the Group has expanded significantly, signing seven new hotels offering over 1,300 rooms in the last 12 months. Signings and major openings include the Radisson Hotel Ploenchit Bangkok, which will become the Radisson Group’s flagship hotel in Thailand when it opens in 2024, as well as a new Radisson RED hotel in Phuket, the Radisson Resort & Spa in Hua Hin, and the Radisson Resort & Suites Phuket. Last but not least, the Park Inn by Radisson brand in Bangkok, Thailand, is signed for the first time.
Hilton exceeds forecasts
Hilton Worldwide Holdings has published its results for the second quarter. Earnings per diluted share (EPS) for the second quarter amounted to $1.55, while diluted EPS adjusted for special items was $1.63. These figures both exceeded forecasts. Both figures exceeded the most optimistic forecasts. Net income reached $413 million, surpassing initial forecasts.
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Radisson Hotel Group announces strong expansion across its brand portfolio in the first half of the year. Since the beginning of the year, the Group has welcomed over 100 hotel openings and signings in the APAC and EMEA regions. For its part, the Hilton Group is performing well, with second-quarter earnings exceeding initial forecasts.
In the first half of 2023, Radisson Hotel Group achieved strategic portfolio growth in the APAC (Asia-Pacific) and EMEA (Europe, Middle East and Africa) regions. The hotel group continued to implement its growth and expansion plan, focusing on strategic geographic extensions and adding the art’otel brand. The latter offers a singular value proposition for owners and guests by associating art with a lifestyle experience.
Since the beginning of the year, the group has opened over 100 new hotels and signed agreements for new properties in the APAC and EMEA regions.
“More than 65% of our owners own more than one hotel with us, thanks to the trust of our partners, the relevance of our brands and the dedication of our staff”, said Elie Younes, Executive Vice President and Global Development Director, Radisson Hotel Group. “We look forward to an exciting second half of the year and wish everyone a relaxing summer break.”
In the EMEA region, remarkable growth materialized in the first half of the year with the addition of over 8,000 rooms via brand signatures and openings in key destinations such as Greece, Germany, the UK, Italy, Switzerland, France, Saudi Arabia and Nigeria. Major openings and signings include the Radisson Collection Hotel Santa Sofia Milan, the Radisson Blu Hotel, Rome EUR, the Radisson Blu Hotel, Abuja CBD, the Radisson RED Edinburgh Airport, and a new Radisson extended-stay property in Zurich. The 430-room property is now the largest hotel in the Swiss metropolitan area. Agreements have also been signed for new Radisson properties in Ferrara, as well as for the Radisson Residences Limassol in Cyprus and the Radisson Hotel Mersin in Turkey, scheduled to open in the first quarter of 2024.
“A superb indication of our growth in Africa is the materialization of our pipeline in openings, placing us on track to reach our target of 150 hotels in the next five years”, said Ramsay Rankoussi, Vice President of Development for Africa and Turkey at Radisson. “We are also proud to reinforce our position as the most present operator in Africa with a new entry into the market as the sole hotel operator.”
In the APAC region, Radisson has significantly expanded its portfolio, adding more than 60 hotels, totaling over 8,000 rooms, in Vietnam, India, Thailand, the Philippines and China. In Thailand, the Group has expanded significantly, signing seven new hotels offering over 1,300 rooms in the last 12 months. Signings and major openings include the Radisson Hotel Ploenchit Bangkok, which will become the Radisson Group’s flagship hotel in Thailand when it opens in 2024, as well as a new Radisson RED hotel in Phuket, the Radisson Resort & Spa in Hua Hin, and the Radisson Resort & Suites Phuket. Last but not least, the Park Inn by Radisson brand in Bangkok, Thailand, is signed for the first time.
Hilton exceeds forecasts
Hilton Worldwide Holdings has published its results for the second quarter. Earnings per diluted share (EPS) for the second quarter amounted to $1.55, while diluted EPS adjusted for special items was $1.63. These figures both exceeded forecasts. Both figures exceeded the most optimistic forecasts. Net income reached $413 million, surpassing initial forecasts.
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