Carlson Rezidor Hotel Group Demonstrates Strong Underlying Business Performance and Accelerated Growth
Carlson Rezidor Hotel Group, one of the world’s largest and most dynamic hotel groups, announced at the Hotel Investment Forum India (HIFI) 2016, a strengthening of its leadership position in India through its successful growth strategy of increasing the company’s presence in state capitals and key cities.
The Group’s India portfolio comprises of 140 hotels in operation and under various stages of development across 60 cities in India, including 16 state capitals. This year, 14 are on pace to be signed and eight are anticipated to open by year end. Increased strength and alignment in branding and operations also resulted from the company’s successful integration of the master license agreement for the Country Inns & Suites By CarlsonSM brand earlier this year. The operating portfolio’s Compounded Average Growth Rate (CAGR) is a remarkable 17 per cent since 2010.
“Our dominant position in India and steady growth in this important market demonstrates the strength of our brands and expertise. As one of the leading international hospitality operators in India, we have established a nationwide presence through a deep understanding of this key market. We remain fully committed and believe in accelerating our growth through new strategic partnerships and opportunities,” said Thorsten Kirschke, president, Asia Pacific, Carlson Rezidor Hotel Group.
Through 2016, Carlson Rezidor Hotel Group’s portfolio of hotels in India saw healthy underlying business performance with a robust development trajectory. The group’s remarkable success is fortified with significant system-wide revenue delivery being ahead of the market with 7.2 per cent RevPAR growth on a like for like basis, and 11.1 per cent for managed hotels, resulting in incremental Gross Operating Profit (GOP).
“Our growth story is complemented by strong operating performance. Despite pressure from increased supply, we have made gains in market share, improved profit margins and raised Net Promoter Score (NPS), all indicators of achievements we are proud of. Our success has been built on time tested trusting relationships. This sets us on pace to have 170 hotels within our India portfolio by 2020,” added Raj Rana, chief executive officer, South Asia, Carlson Rezidor Hotel Group.
The long-term commitment and success in India has been built on the strength of the Group’s brands and leaders. This is reflected in the prestigious Aatithya Ratna (Gem of Hospitality) award at HIFI conferred to K.B. Kachru, chairman emeritus and principal advisor, South Asia, Carlson Rezidor Hotel Group, an accolade exemplifying the spirit of hospitality and extraordinary efforts he made for Indian tourism.