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Radisson & MBD Unite for 50 Indian Hotels
23 Feb
Summary
- Partnership aims to launch 50 hotels in India within a decade.
- Expansion will primarily use an asset-light model, focusing on management.
- Significant development planned in Bengaluru and new properties in Udaipur and Ranthambore.
Radisson Hotel Group (RHG) and MBD Group have entered into a long-term master franchise agreement to expand RHG's Radisson Collection and Radisson RED brands throughout India. This collaboration is set to introduce 50 co-branded hotels under the Radisson Collection MBD and Radisson RED MBD portfolios within its initial decade. The expansion will predominantly follow an asset-light approach, with approximately 80% of the portfolio comprising managed and franchised properties and 20% owned. MBD Group will manage business development, operations, and franchising for these brands in agreed-upon locations.
The partnership anticipates a total valuation of Rs 10,000 crore for the 50 managed assets. Expansion efforts will heavily favor Radisson RED MBD, accounting for 80% of new openings, with the remainder being Radisson Collection MBD hotels. MBD Group has secured land parcels for developments in Bengaluru's Whitefield, which will feature around 250 hotel keys and extensive commercial office space, and Udaipur's Lake Pichola. Additionally, a new property is planned for Ranthambore, aiming to redefine luxury and lifestyle hospitality in India.
