With nearly 50 hotels in operation and under construction, Turkey is one of the strongest markets for Radisson Hotel Group. Aiming to further strengthen its market share while expanding in all segments, Ramsay Rankoussi Head of Business Development for Africa and Turkey at Radisson Hotel Group made special statements to Tourism FM about new hotel investments in Turkey.
Radisson Hotel Group is one of the largest hotel groups in the world. Could you tell us a little bit about the Group's vision and brands?
Radisson Hotel Group is an international hotel group operating in EMEA and APAC, with more than 1,340 hotels currently in operation or under development and plans to grow its portfolio significantly. Our vision is to be recognised as one of the top three hotel brands in the world and to be the brand of choice for guests, hotel owners and our talent. As a responsible business leader committed to Net Zero, radisson hotel group is always thinking People, Planet and Society.
The Radisson family of brands portfolio includes Radisson Collection, art'otel, Radisson Blu, Radisson, Radisson, Radisson RED, Radisson Individuals, Park Plaza, Park Inn by Radisson, Country Inn & Suites by Radisson and prizeotel under the Radisson Hotels umbrella brand. Our brands cover the mid to luxury segments as well as city hotels, holiday resorts, residences and mixed-use projects.
How did 2024 start for Radisson Hotels in the world and in Turkey? What goals were achieved in 2023?
The Group ended 2023 with exceptional growth globally, adding more than 30,000 rooms to its international portfolio of 10 leading brands through openings and agreements. Since the launch of the transformation plan in 2018, the Group has grown its business by approximately 50 per cent. We also set a new company record by adding more than 30,000 rooms to our portfolio through openings and agreements.
In 2024, we are ready for another year of growth and new openings in Turkey. Building on the successes of the previous year, we continue to focus on expanding our presence in key markets, while maintaining our commitment to be a preferred partner for our employees, guests and investors. Throughout the year, we will continue to prioritise our ambitions to increase the number of hotels operating in Turkey. This year we plan to open new hotels in Istanbul with Radisson Hotel Istanbul Merter, as well as entering new cities with the opening of Radisson Hotel Bursa and Radisson Hotel Mersin. These expansions underline our commitment to delivering exceptional hospitality experiences in diverse destinations and further cement our position as a leading hotel brand in Turkey.
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Radisson Collection Hotel, VadistanbulWhat is the importance of Turkey as a market for Radisson Hotel Group? How do you evaluate Turkey's potential in terms of tourism?
Turkey, with its strategic location and strong tourism industry, is of great importance as a key market for Radisson Hotel Group. Given the recent growth, Turkey is now one of our largest markets in EMEA and globally. As one of the preferred destinations worldwide, Turkey serves as a bridge between West and East, Europe and Asia. Its well-established position as a regional hub and trade link meets a significant portion of business demand, making it an indispensable market for us. Furthermore, Turkey's rich cultural heritage, diverse nature and favourable climate contribute to its attractiveness as a tourism destination. With its equally attractive seaside and mountain destinations, Turkey offers a wide range of experiences for holiday travellers. Aware of this diversity, we aim to strengthen our presence in leisure travel by expanding our portfolio to include resorts.
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Radisson Blu Hotel, Kas
We have taken important steps in this direction with the opening of resort hotels such as Radisson Blu Resort & Spa Çeşme in Çeşme, Radisson Collection Hotel Bodrum and Radisson Blu Hotel Kaş in Bodrum. In addition, our first ski resort hotel, Radisson Blu Hotel Mount Erciyes on Mount Erciyes, demonstrates our commitment to catering to different holiday preferences.
Radisson Blu Hotel Mount Erciyes
Looking ahead, we see tremendous growth potential in the Mediterranean region, particularly in Antalya, where we plan to expand our footprint. By capitalising on Turkey's tourism potential and leveraging our hospitality expertise, we are confident in our ability to further develop our presence in this dynamic market.
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Radisson Blu Hotel, Kas
At the same time, we continue to consolidate our market leadership in Istanbul in various segments and increase our presence in the country from 50 to 100 hotels by 2030.
Can you give us an overview of RHG Turkey's future development projects?
We are focusing on expanding into regions known to attract a higher profile audience for leisure travel, particularly Antalya.
In addition, we are looking to enter the Cappadocia market, known for its unique landscapes and cultural heritage. In line with our commitment to diversification, we have launched the Radisson Individuals brand, targeting individual and independent hotels with an established identity and high service scores. Through Radisson Individuals, we aim to provide our partners with an exclusive offer that not only supports their autonomy but also benefits from the advantages of our network. This approach reflects our commitment to providing flexible solutions that meet the unique needs of each property, while at the same time driving overall growth for RHG Turkey, particularly in secondary markets.
Overall, we have more than a dozen hotels opening soon, from the Radisson to the first Radisson RED hotel in Izmir. We also offer residential options in Istanbul and our other brands are expanding, such as the midscale Park Inn by Radisson brand.
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Radisson Collection Hotel, Bodrum
What are the main areas of focus and expansion strategies of the business development team at the moment?
The business development team is currently focussing on consolidating our presence in Istanbul, which continues to represent more than 50% of our portfolio, and securing new market entries in secondary markets in Turkey. Whilst most of our brands have already been launched, we see continued growth opportunities, particularly with our conversion-friendly brand Radisson Individuals. Recently, our Radisson Collection brand has enjoyed success in two locations, Bodrum and Istanbul. We believe there is potential for further growth in this entry-level luxury segment, particularly as we explore properties with special design and historic features across the country.
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Radisson Collection Hotel, Bodrum
We also anticipate that Turkey will continue to play a leading role in our expansion efforts, with a focus on multiple locations and a diverse portfolio spanning resorts, residences and city hotels.
Radisson Collection Hotel, Bodrum
What are your views/forecasts for 2024 in terms of both occupancy rates and revenues?
As the fastest growing city, Istanbul has consistently demonstrated strong performance and continuous growth. In the coming year, we will focus on further consolidating our market share in Istanbul across all segments, capitalising on the city's dynamic market conditions. Residences offer a significant growth opportunity and we anticipate continued expansion in this sector. Looking beyond the major cities, we foresee growth opportunities in secondary cities that continue to recover economically. This economic recovery, combined with global holiday trends, will drive growth across our brands in these emerging markets.
Leisure travel continues to be a strong trend globally and we anticipate significant development projects in holiday destinations. From ski holidays to holiday resorts, we expect high interest and demand to accelerate our development work in these popular destinations. Overall, we are confident that 2024 will be a year of growth and success for Radisson Hotel Group in Turkey, with occupancy rates and revenues reflecting positive momentum in various segments of the market, while also managing inflation and devaluation pressures in the country.
Radisson Collection Hotel, Vadistanbul
Are there any milestones or targets for the near future that you can share with us?
In the near future, we have set concrete milestones and goals that reflect our commitment to growth and expansion in Turkey. Currently, all of our existing brands in the region have facilities in operation or under construction. Looking ahead, we are focused on introducing Radisson RED in Istanbul and positioning it as a dynamic lifestyle brand that resonates with modern travellers. We also plan to strategically expand our portfolio by introducing Radisson Collection in key cities such as Istanbul and Ankara and establishing a strong presence in attractive locations. Our overall goal is to reach 70 hotels in the next 3 years and ultimately reach 100 hotels by 2030, which we have set as a milestone.
How many hotels are targeted to open in 2024 under which RHG brand and in which cities?
In 2024, we aim to open 3 new hotels under the Radisson brand in Istanbul, Bursa and Mersin. We also recently opened our first Park Inn by Radisson hotel in Yalova and we plan to open our first Radisson RED hotel in Turkey in Izmir later this year.
