Why Radisson Hotel Triumphs in the Trillion-Dollar Market?

Posted on 2024-06-21 15:50. It is reported that the global business hotel market size reached 4.2 tr[...]

Posted on 2024-06-21 15:50. It is reported that the global business hotel market size reached 4.2 trillion USD in 2019 and is expected to reach 7.2 trillion USD by 2027. In the Chinese market, the business hotel market size is also continuously expanding. According to data, the Chinese business hotel market size reached 1.2 trillion CNY in 2019 and is expected to reach 1.8 trillion CNY by 2024.

Radisson Hotel, founded in 1987, is a leading brand in terms of store count and scale under the Radisson Hotel Group, and is part of Jin Jiang International, one of China’s largest comprehensive hotel and tourism industry groups. Since entering the Chinese market in 2019, it now has over 800 stores worldwide, with nearly 300 signed hotels in China.

Faced with a business hotel market size exceeding trillions, Radisson Hotel, which began its layout development in China in 2019, has achieved remarkable performance in less than 6 years. What is the reason?

First, excellent products and services are the foundation for any brand’s success. Since entering the Chinese market, the Radisson Hotel brand has not only inherited the aesthetic design style and product services of the Radisson Hotel Group but has also paid great attention to the actual situation of the domestic lodging market and consumer demands. In terms of product services, it has actively innovated, completing a magnificent transition from Radisson 1.0 to 2.0. Radisson 2.0 products are centered around the core concept of ‘WELCOME HOME, a place of comfort’, insisting on creating a higher quality travel and lodging experience for guests with craftsmanship.Radisson Hotel brand excels in delivering a 360-degree comfort experience to its guests through five key aspects: ‘Elegant Business Travel’, ‘Star Design’, ‘Delicious Food’, ‘Comfortable Sleep’, and ‘Heartfelt Service’. Scientific and effective operations are crucial for the success of a hotel brand. The brand offers comprehensive support and guidance for new projects, covering areas such as project development, brand building, and market promotion. This ensures the operational effectiveness and sustainability of newly signed projects. The Radisson brand operation team also develops personalized brand development strategies tailored to the specific needs of each project, translating these strategies into daily hotel operations.

For instance, they emphasize employee training and development, enhancing the professional skills and service levels of staff through systematic training plans and continuous education. This ensures that hotel management and service personnel can provide guests with high-quality professional services at Radisson Hotel. The brand’s success and victory are also supported by the high recognition it receives from investors.

Finding the right balance between cost control and service quality is key to winning in the mid-to-high-end hotel market. L’Essential Hotel, an advantageous brand under Radisson Hotel Group and Jin Jiang International Hotels Group, excels in this regard. It fully leverages the inherent resource and customer base advantages of the dual platforms, enabling multi-dimensional investment and efficiency enhancement.Jin Jiang WeHotel’s global hotel internet platform boasts over 182 million members, consistently attracting a steady stream of guests to its affiliated hotels. Leveraging the cost advantage provided by the comprehensive supply chain of Jin Jiang Global Procurement Platform (GPP), the L’Essential brand has been able to create market-quality products priced between 120,000 and 150,000, with an average cost of 90,000. This competitive pricing ensures that the brand surpasses its competitors in both cost-effectiveness and quality-to-price ratio.

As the business hotel market continues to expand, an increasing number of brands are vying for a share of this lucrative market. This growth in competition also signifies that the future development opportunities and competitive risks within the mid-to-high-end business travel hotel industry are equally abundant. In the face of a market outlook that is both promising and challenging, L’Essential Hotel remains committed to its innovative development path, one that has been proven effective through practice. The brand is poised to continue navigating the vast blue ocean of business hotels, capitalizing on its competitive edge and strategic positioning.