Dubai, UAE: StayWell Holdings today announced the start of an aggressive expansion project in key growth regions as part of its global market consolidation strategies.
According to the latest UN World Tourism Organization’s World Tourism Barometer, after the recovery in international tourism in the first five months of 2022, approximately 250 million international arrivals were registered.
The medium to long-term expansion will include delivering 250 hotels in key bespoke accommodation destinations in critical regions. These include the UAE and the Asia Pacific region, which ranks second among the Middle East countries with the highest number of international tourist arrivals, receiving 8.08 million arrivals in 2020.
StayWell’s expansion in the Middle East, which is also devoted to taking the lion’s share of new hotels and resorts, is projected to grow significantly over the next few years, particularly in the United Arab Emirates, Egypt and Saudi Arabia. We have 4 hotels already operating in the area and we would like to add our luxury brand The Prince Akatoki here very soon. With this strong and positive growth outlook, we plan to further expand our hotel portfolio in the region in the next 5 years and we want to double this in the near future.
Other key regions identified for further expansion of the hospitality chain are Europe, the United States and South East Asia, which are considered high potential markets. According to the spokesperson, these markets are strategic for the growth of the brand and also align with the group’s overall hospitality diversity plan.
“StayWell Holdings has always been at the forefront of providing value-driven accommodation services in its global destinations. Our expansion plan is designed to bring our bespoke products and services to a wider and more selective audience. Growth in South East Asia including Thailand, Singapore and Vietnam, next entered our radar as our growth limit.” Simon Wan, President and Director of StayWell Holdings, said:
The expansion project, which is expected to be completed by 2032, will primarily focus on an asset lightweight model where a large portion of the portfolio is directly managed by the group. Most of the new properties will spread to popular recreational destinations with great tourism potential.
“Our main focus is to build a strong presence in regions aligned with our expansion strategy. In addition to offering unique experiences in all our hotels and resorts, we also want to contribute to the growth of relevant tourism sectors that will increase our brand visibility and recognition in global markets. Our vision is to explore growth opportunities by transforming hotels in the business, look at business management portfolios and then position StayWell as the go-to tourism partner,” said Rohit Vig, Vice President of Development, StayWell Holdings.
Grow the network
The group has recently signed a new hotel brand, Park Proxi, in Egypt – a unique hotel that offers more flexibility for hoteliers. In addition, Park Regis by Prince Deira Islands, the first hotel under the brand banner developed by Park Regis, was recently signed in Dubai, UAE. According to Simon Wan, adding these new hotels to the StayWell barn complements the brand’s existing hotel network in the area.
Resort-style hotel Park Regis by Prince Deira Islands is poised to become Dubai’s iconic resort and crowns the group’s expansion work. Expected to open its doors to its guests by the first quarter of 2023, Park Regis by Prince is designed to set the ultimate standard in guest experience.
The luxury and premium brand is a significant evolution of the venerable Park Regis Hotel brand, first launched in 2006. Following the “World’s Most Thoughtful Hotels” position, Park Regis by Prince is the latest offering in the company’s impressive assortment. of your brands. Designed to be offbeat yet accessible, business and leisure travelers can enjoy the tradition and luxury of a beautifully selected classic hotel experience, seamlessly blended with modern technology.
Prince Hotels & Resorts and StayWell’s combined brand offerings include The Prince Akatoki, The Prince, Grand Prince Hotel, Park Regis by Prince, Park Regis, Policy, Park Proxi, Prince Hotel, Prince Smart Inn and Leisure Inn. Each brand offers its guests quality experiences ranging from luxury to lifestyle to midrange.