StayWell Holdings, one of the largest hotel management groups in Asia-Pacific, has commenced an aggressive expansion project to the Middle East as part of its global market consolidation strategy across key growth regions.
The ambitious expansion plan, which breaks ground in Q4 2022, comes on the back of rebounding international tourism experienced in the first five months of 2022, with almost 250 million international arrivals recorded, according to the latest UN World Tourism Organization World Tourism Barometer.
The medium to long-term expansion exercise will include setting up to deliver 250 hotels in key bespoke hospitality destinations in critical regions. These include the UAE, which ranked second among the Middle Eastern countries with the most international tourist arrivals, receiving 8.08 million arrivals in 2020, and the Asia Pacific region.
Simon Wan President & Director StayWell Holdings
“StayWell Holdings have always been at the forefront of delivering value-driven hospitality services throughout their global destinations. Our expansion plan is designed to bring our bespoke products and services to a wider and more discerning target audience. Growth in South East Asia including Thailand, Singapore and Vietnam has been on our radar as our next growth frontier.”
StayWell’s expansion in the Middle East, which has also been earmarked to get the lion’s share of new hotels and resorts, is crucial to StayWell’s growth strategy, especially at a time when tourist arrivals in popular destinations in the region, including United Arab Emirates (UAE), Egypt and Saudi Arabia are predicted to grow substantially over the next few years.
The Sydney-based company already has 4 operational hotels in the region and is planning to add its luxury brand The Prince Akatoki very soon. With this strong and positive growth outlook, it wants to further expand its portfolio of hotels in the region over the next 5 years.
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