Carlson Rezidor Hotel Group is focused on the future. And in its future is a rebrand.
The company released its five-year operating plan, which will optimize its portfolio to bring profit in line with the market and build a platform that will solidify the brand.
"Over the next five years, we will build on our unique service heritage of making every moment matter for our guests, owners, shareholders, and employees by being a true host and best partner," said Federico J. Gonzalez, president and CEO, The Rezidor Hotel Group AB. "Success of our five-year operating plan means that whenever a guest plans a trip, whenever an investor or owner thinks of a partner, whenever a person wants to work in hospitality-they will all think of our company first."
Rezidor is currently the sixth largest hotel group in Europe, and it plans to build on its position in the EMEA region. One of the ways in which it will do this is to align with one of its most powerful brands-Radisson.
Along with the rebranding, Rezidor aims to deliver revenue growth of up to 7 percent on an annual basis. The EBITDA margin is expected to reach 13-15 percent by the end of 2022.
Phase one (2018-2020) of the operating plan predicts only modest growth as the brand invests to meet targets and the basics of growth are "put into place."
The company expects to experience its higher rates of growth in 2021 and 2022.
The name change, from Carlson Rezidor Hotel Group to Radisson Hotel Group is expected to take place next month.
The changes were announced at the company's Investor Day, which took place in Frankfurt, Germany, in January.
Carlson Rezidor Hotel Group was acquired by HNA Tourism Group in late 2016.
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