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Radisson Hotel Group to maintain expansion momentum in the Middle East and Africa, building on a year of record success

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11 months ago

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Radisson Hotel

2024 promises to be a landmark year for Radisson Hotel Group, with 14 new hotel openings slated across various countries in the Middle East and Africa

CAPE TOWN, South Africa, February 13, 2024/APO Group/ — 

Radisson Hotel Group (www.RadissonHotels.com) solidified its position as one of the leading international hotel groups in the Middle East and Africa during 2023 by signing 22 hotels, resorts, and serviced apartments, adding over 3,800 rooms to its regional portfolio, remaining dedicated to its vision of being among the top three hotel brands globally and the preferred choice for owners, guests, and employees.

Globally, the Group wrapped up 2023 with exceptional growth, adding over 30,000 keys to its international portfolio of 10 leading brands through openings and signings. The Group has grown its business by nearly 50% since the launch of its transformation plan in 2018. It also celebrated a new company record with the addition of its largest number of keys to its portfolio, amounting to over 30,000 keys through openings and signings.

Looking ahead, 2024 promises to be a landmark year for Radisson Hotel Group, with 14 new hotel openings slated across various countries in the Middle East and Africa. These openings reflect the ongoing commitment to offering exceptional hospitality experiences while catering to the growing demand for premium accommodation in these regions.

Expansion momentum continues in Africa

In Africa, the Group maintained its expansion momentum in 2023, with eight hotel signings, adding over 1,600 rooms to its robust African Portfolio. With this progress, it is well on its way to achieving its objective of reaching 150 hotels in Africa over the next five years, up from its current count of 100 hotels.

These hotel signings included new market entries into Gambia with Radisson Blu Beach Resort & Spa, Banjul and Radisson Hotel Benin City in Nigeria. In addition to the Radisson hotel in Benin City, the signing of Radisson Collection Hotel & Conference Center, Abuja; Radisson Blu Hotel, Abuja CBD and Radisson RED Lagos VI further strengthened the Group’s position as the market leaders in Nigeria, with its portfolio now expanding to 12 hotels and over 1700 rooms.

Highlighting the Group’s priorities in Africa for 2024, Ramsay Rankoussi, Vice President, Business Development for Africa and Turkey at Radisson Hotel Group, said, “We have an exciting year ahead with five hotel openings in Africa, reinforcing our market leader stance in our key countries such as Egypt, Morocco and South Africa but also maintaining the fastest growth across the continent in tangible openings. Building on the momentum of the Radisson Collection Resort, Marsa Alam Port Phoenice signing, introducing the Radisson Collection brand in the country with an exceptional resort, we will also open the first standalone serviced apartments in Egypt with Radisson Residences Cairo Heliopolis within the coming months.”

In Morocco, Radisson Hotel Group further enhances its flourishing portfolio with the highly anticipated opening of Radisson Hotel Casablanca Gauthier, the debut of the Radisson brand in Morocco, scheduled for Q2. This latest opening adds to much anticipation of the growing potential of the country which the Group has made its priority. In South Africa, Radisson Hotel Group is set to add its 12th hotel with the opening of Radisson Hotel Middelburg later this year, following the successful opening of its first safari hotel in Africa with the recently announced Radisson Safari Hotel Hoedspruit.

Our ambitions remain strong as we continue our robust expansion efforts in the region, focusing particularly on resorts as well as serviced apartments

“In addition to these key markets, we are proactively pursuing East Africa this year, with Kenya and Tanzania identified as market priorities. As resorts continue to play an important role in our global strategic growth plan, we will build on our successful resort expansion in Africa, which has included the recent openings of Radisson Blu Resort Mosi-oa-Tunya in Livingstone and our debut in Reunion Island with the opening of Radisson Hotel Saint Denis” adds Ramsay Rankoussi.

Over the past three years, Radisson Hotel Group has emerged as the fastest-growing hotel group in Africa, with 20 hotel openings across the continent. This impressive feat has set a record for the Group in terms of the realization of its pipeline into openings and has translated into a commendable 15 percent annual growth on its African portfolio.

Strategic focus on the Middle East

In the Middle East the Group opened over 1,000 keys in the past 12 months and is on track to open 2,000 keys in 2024. The Group continues to drive its aspirations in the region, targeting 150 properties to be operational or under development across the Middle East by 2030.

In the last quarter of 2023, Radisson Hotel Group revealed new hotels across Oman: Muscat Levatio Suites, a member of Radisson Individuals and Radisson Hotel Muscat Panorama, as well as opening the first Radisson Individuals in Saudi Arabia, with the opening of Vivid Jeddah, A Radisson Individuals hotel. In addition to these openings, the Group has also signed agreements for Park Inn by Radisson Resort Bimmah and Radisson Serviced Apartments Salalah.

In Jordan, Radisson Blu Hotel, Amman Galleria Mall opened its doors in offering 178 keys catering to travelers seeking convenience and luxury. Further, the Group was proud to announce the signing of Radisson Hotel & Residences Erbil, in Iraq’s vibrant city of Erbil which also opened during the course of the year, opening a new market and significant development destination for the Group. In addition, Pakistan remains a focus for the Group by signing four hotels and serviced apartments in the capital city of Islamabad with the first opening in this new market anticipated for 2025.

Looking ahead, the Group plans further expansion in Makkah with the highly anticipated debut of Park Inn by Radisson Makkah Thaker West and of Park Inn by Radisson Makkah Thakher East in Q1 with new standards for contemporary lodging in the holy city of Makkah to meet the needs of an increasing number of international and regional visitors. Also set for opening in early 2024 is Radisson Hotel Jeddah Tahlia Street and as well as the introduction of the Park Inn by Radisson brand to Kuwait with the opening of Park Inn by Radisson Hotel & Apartments Kuwait.

Elie Milky, Vice President Business Development, Middle East, Greece, Cyprus, and Pakistan at Radisson Hotel Group, said: “Our ambitions remain strong as we continue our robust expansion efforts in the region, focusing particularly on resorts as well as serviced apartments. We continue to penetrate new markets as we have seen in Erbil and Amman while we strengthen our position with strategic owners in established cities such as Jeddah, Riyadh, Kuwait, Makkah and Muscat, to name a few. Our value proposition to our existing and new owners continues to improve with a comprehensive brand offering and a pragmatic conversions approach to drive openings.”

The Group also received the Sustainable Business Award at the Global Travel Hall of Fame, validating the company’s dedication to responsible travel and tourism. The Group was also recognized at A World for Travel with the Environmental Impact Award for its role in the development of the Hotel Sustainability Basics. RadissonHotels.com, the Group’s leading website, and app won a total of five prestigious awards, in particular for its pioneering and industry-leading Immersive Content Project.

Distributed by APO Group on behalf of Radisson Hotel Group.

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Genesis Energy Chief Executive Officer (CEO) to Discuss Energy Expansion at Congo Energy & Investment Forum

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30 minutes ago

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January 20, 2025

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Genesis Energy

Akinwole Omoboriowo II will discuss Genesis Energy’s plan to deliver 10.5 GW of power across Africa, highlighting how Nigeria’s power sector experience can inform the development of the Republic of Congo’s domestic energy grid and gas export potential

BRAZZAVILLE, Republic of the Congo, January 20, 2025/APO Group/ — 

Akinwole Omoboriowo II, CEO of Genesis Energy, will speak at the Congo Energy & Investment Forum (CEIF) in Brazzaville this March, where he will discuss the company’s plans to deliver 10.5 GW of power across Africa, with a focus on energy initiatives that align with the Republic of Congo’s energy development goals.

Genesis Energy is driving transformational power projects, including providing 334MW to the Port Harcourt Refinery in Nigeria and plans to produce 1 GW within the WAEMU region. In October 2024, Genesis and BPA Komani announced their strategic partnership to mobilize capital and facilitate critical infrastructure projects focused on renewable energy, particularly Battery Energy Storage Systems across Africa. Additionally, Genesis’ recent MOU with the U.S. Agency for International Development will mobilize $10 billion for green energy and renewable projects, supporting Africa’s transition to a sustainable energy future.

The inaugural Congo Economic and Investment Forum, set for March 25-26, 2025 in Brazzaville, will bring together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities. The event will explore the latest gas-to-power projects and provide updates on ongoing expansions across the country.

During CEIF 2025, Omoboriowo will explore how Genesis’ successful energy infrastructure development projects in Africa, combined with private sector innovation, can guide the Republic of Congo in strengthening its energy security and achieving its decarbonization goals. By leveraging its expertise in clean energy and strategic partnerships, Genesis Energy is poised to play a key role in helping the Republic of Congo harness its energy potential and expand its regional energy influence.

The Republic of Congo’s renewable energy sector is in a phase of growth, with increasing interest in solar, hydro and wind energy projects. Battery energy storage capacities are also gaining traction as a vital component of the country’s energy infrastructure, helping to balance supply and demand. The government is focusing on diversifying its energy mix to reduce dependency on fossil fuels and enhance grid reliability. Looking ahead, the Congo aims to expand its renewable energy capacity and integrate storage solutions to meet growing domestic and regional energy needs while supporting environmental sustainability.

Distributed by APO Group on behalf of Energy Capital & Power.

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Eni, TotalEnergies Announce New Exploration Projects in Libya

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7 hours ago

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January 20, 2025

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National Oil Corporation

Eni is launching three exploration plays, TotalEnergies is expecting promising results from its recent onshore exploration project, and other developments were shared during an upstream IOC-led panel at the Libya Energy & Economic Summit

TRIPOLI, Libya, January 19, 2025/APO Group/ — 

Libya’s National Oil Corporation (NOC) and international energy companies TotalEnergies, Eni, OMV, Repsol and Nabors outlined key exploration milestones and strategies to advance oil and gas production in Libya at the Libya Energy & Economic Summit 2025 on January 18.

Among the key developments highlighted were TotalEnergies’ recent onshore exploration project and promising exploration opportunities in the Sirte and Murzuq basins.

“With 40% of Africa’s reserves, Libya remains largely untapped,” said Julien Pouget, Senior Vice President for the Middle East and North Africa at TotalEnergies. Pouget shared TotalEnergies’ plans for 2025, including the completion of an onshore exploration project and new exploration in the Waha and Sharara fields. “We expect results next week,” he added.

Luca Vignati, Upstream Director at Eni, echoed optimism for Libya’s potential and outlined the company’s ongoing investment initiatives in the country. “We are launching three exploration plays – shallow, deepwater and ultra-deep offshore. No other country offers such opportunities,” Vignati stated. He also highlighted the company’s investments in gas projects, including over $10 billion for the Greenstream gas pipeline and a CO2 capture and storage plant in Mellitah.

Repsol affirmed its commitment to advancing exploration in Libya, focusing on overcoming industry challenges and achieving significant production milestones.

We have 48 billion barrels of discovered but unexploited oil, with total potential estimated at 90 billion barrels, especially offshore

“Over the past decade, Libya has made remarkable efforts to fight natural field decline and encourage exploration,” said Francisco Gea, Executive Managing Director, Exploration & Production at Repsol. “We have reached 340,000 barrels per day. The two million target is within reach, and as international companies, we have the responsibility to bring capacity and technology.”

“Innovation is key to maximizing production and accelerating exploration. By deploying cutting-edge solutions, Nabors can enhance efficiency, reduce costs and ensure safer operations,” added Travis Purvis, Senior Vice President of Global Drilling Operations at Nabors.

Bashir Garea, Technical Advisor to the Chairman of the NOC, highlighted the country’s immense oil and gas potential. “We have 48 billion barrels of discovered but unexploited oil, with total potential estimated at 90 billion barrels, especially offshore,” he said. He also pointed to Libya’s sizable gas reserves, noting, “Libya has 122 trillion cubic feet of gas yet to be developed. To unlock this potential, we need more investors and new technology, particularly for brownfield revitalization.”

“Our strategy spans the entire value chain. Strengthening infrastructure is essential to maximizing production and efficiency,” said Hisham Najah, General Manager of the NOC’s Investment & Owners Committees Department.

NJ Ayuk, Executive Chairman of the African Energy Chamber and session moderator, underlined Libya as a prime destination for foreign investment: “Libya is at the cusp of a new energy era. The time for bold investments and strategic partnerships is now.”

Distributed by APO Group on behalf of Energy Capital & Power.

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Libya’s Oil Minister: Brownfields, Local Investment Key to 2M Barrels Per Day (BPD) Production

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7 hours ago

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January 20, 2025

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Libya’s Oil & Gas Minister outlined plans to boost production to 1.6 million bpd in 2025 and 2 million bpd long-term, with brownfield development and local investment at the core, during the Libya Energy & Economic Summit

TRIPOLI, Libya, January 19, 2025/APO Group/ — 

Libya is setting its sights on boosting oil production to 2 million barrels per day (bpd) within the next two to three years, with brownfield development and local investment identified as critical drivers of this growth. Speaking at the Libya Energy & Economic Summit (LEES) in Tripoli on Saturday, Minister of Oil and Gas Dr. Khalifa Abdulsadek outlined the country’s strategy to reach 1.6 million bpd by year-end and laid the groundwork for longer-term growth.

“There are massive opportunities here, massive fields that have been discovered, but a lot of fields have fallen between the cracks,” stated Minister Abdulsadek during the Ministerial Panel, Global Energy Alliance – Uniting for a Secure and Sustainable Energy Future. “We want to make sure local oil companies take part. We also want to leverage the upcoming licensing round to support our planned growth in the oil sector.”

The minister’s remarks were complemented by a strong call for international participation in Libya’s upcoming licensing round, signaling the government’s commitment to fostering collaboration and maximizing the potential of its energy sector.

Highlighting Libya’s vast natural gas potential – with reserves of 1.5 trillion cubic meters – Mohamed Hamel, Secretary General of the Gas Exporting Countries Forum, stressed the need for enhanced investment in gas projects. He pointed to ongoing initiatives like the $600 million El Sharara refinery as opportunities to stimulate economic diversification.

There are massive opportunities here, massive fields that have been discovered, but a lot of fields have fallen between the cracks

“Natural gas is available,” Hamel stated, adding, “It is the greenest of hydrocarbons and we see natural gas continuing to grow until 2050.”

The panel also tackled the global energy transition, emphasizing Africa’s unique challenges and the need for the continent to harness its resources to achieve energy security. Dr. Omar Farouk Ibrahim, Secretary General of the African Petroleum Producers Organization (APPO), underscored the critical need for finance, technology and reliable markets to drive progress.

“At APPO, we have noted three specific challenges for the African continent. Finance, technology and reliable markets,” he stated, questioning whether Africa can continue to depend on external forces to develop its resources.

As one of Africa’s top oil producers, Libya holds an estimated 48 billion barrels of proven oil reserves. The country’s efforts to expand production, attract investment and drive innovation are central to the discussions at LEES 2025. Endorsed by the Ministry of Oil and Gas and National Oil Corporation, the summit has established itself as the leading platform for driving Libya’s energy transformation and exploring its impact on global markets.

Distributed by APO Group on behalf of Energy Capital & Power.

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