StayWell Holdings to Tap into Middle Eastern, Southeast Asian and European Tourism Markets in Mega Expansion Project
DUBAI, United Arab Emirates: StayWell Holdings today announced the launch of an aggressive expansion plan as part of its global market consolidation strategy in key growth regions.
The ambitious expansion plan, which starts in the fourth quarter of 2022, builds on the rebound in international tourism recorded in the first five months of 2022, with nearly 250 million international arrivals recorded, according to the latest Tourism Barometer. world tourism from the World Tourism Organization.
The medium to long term expansion exercise will include the establishment of 250 hotels in key bespoke hospitality destinations in critical regions. These include the United Arab Emirates, which ranks second among the countries in the Middle East with the most international tourist arrivals, with 8.08 million arrivals in 2020, and the Asia-Pacific region. .
StayWell’s expansion in the Middle East, which was also intended to capture the lion’s share of new hotels and resorts, is crucial to StayWell’s growth strategy, particularly at a time when tourist arrivals in popular destinations in the region including the United Arab Emirates, Egypt and Saudi Arabia are expected to experience substantial growth over the next few years. We already have 4 hotels operational in the area and 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 over the next 5 years and would like to double it soon.
Other key regions that have been identified for further expansion of the hotel chain include Europe, the United States and Southeast Asia, which are seen as high-potential markets.
According to the spokesperson, these markets are strategic for the growth of the brand and are also part of the overall plan to diversify the group’s hotel offer.
“StayWell Holdings has always been at the forefront of providing value-driven hospitality services in all of its global destinations. Our expansion plan is designed to bring our bespoke products and services to a larger target audience. “broad and more demanding. Growth in Southeast Asia, including Thailand, Singapore and Vietnam have been on our radar as our next frontier for growth,” said Simon Wan, chairman and director of StayWell Holdings.
The expansion project, which is expected to be completed by 2032, will primarily focus on an asset-light model with a major portion of the portfolio managed directly by the group. Most of the new properties will be spread across popular leisure destinations with high tourism potential.
“Our main objective is to establish a strong presence in the regions that correspond to our expansion strategy. In addition to providing unique experiences across all of our hotels and resorts, we also want to contribute to the growth of the respective tourism sectors, which will increase our brand visibility and recognition in global markets. Our vision is to explore growth opportunities by converting hotels into operations, review operations management portfolios and position StayWell as the go-to tourism partner,” said Rohit Vig, Vice President of Development, StayWell Holdings.
Develop the network
The group recently signed a new hotel brand Park Proxi in Egypt – a unique hotel offering more flexibility to hoteliers. Additionally, the first hotel under the evolved Park Regis brand banner, Park Regis by Prince Deira Islands, was recently signed in Dubai, United Arab Emirates. According to Simon Wan, the addition of these new hotels to the StayWell stable complements the brand’s existing network of hotels in the region.
The resort-style Park Regis hotel near the Prince Deira Islands is set to become Dubai’s signature holiday destination, capping the group’s fiscal year of expansion. Due to open its doors to guests by the first quarter of 2023, Park Regis by Prince has been designed to set the ultimate standard in guest experience.
The premium, upscale brand is a significant evolution of the well-regarded Park Regis Hotel brand, which was first launched in 2006. Following its positioning statement “The World’s Most Thoughtful Hotels”, Park Regis by Prince is the latest offering in the company’s impressive lineup. brands. Designed to be exceptional yet accessible, guests traveling for business and leisure can enjoy the tradition and luxury of a beautifully curated classic hotel experience, seamlessly blended with modern technology.
Combined brand offerings from Prince Hotels & Resorts and StayWell 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 customers quality experiences ranging from luxury to lifestyle to midscale.