StayWell Holdings to tap tourism markets in Middle East, Southeast Asia and Europe in mega expansion project

Dubai, United Arab Emirates: StayWell Holdings today announced the launch of an aggressive expansion project as part of its global market consolidation strategy in key growth areas.

The ambitious expansion plan, which begins in the 4th quarter of 2022, comes on the back of the recovery in international tourism experienced in the first five months of 2022, with almost 250 million international arrivals recorded, according to the latest World Tourism Organization Barometer of UN.

The medium to long-term expansion exercise will involve setting up 250 hotels in key niche hospitality destinations in critical areas. These include the United Arab Emirates, which ranked second among the Middle East countries with the most international tourist arrivals, receiving 8.08 million arrivals in 2020, and the Asia-Pacific region.

StayWell’s expansion into the Middle East, which is also projected to take the lion’s share of new hotels and resorts, is vital to StayWell’s growth strategy, especially at a time when tourist arrivals to popular destinations in the region, including the United Arab Emirates, Egypt and Saudi Arabia are projected to grow significantly in the coming years. We already have 4 operational hotels in the area and would like to add The Prince Akatoki luxury brand 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 identified for further expansion of the hospitality chain include Europe, the United States and Southeast Asia, which are considered high-potential markets. According to the spokesperson, these purchases are strategic for the development of the brand and also fit with the overall plan to diversify the group’s hospitality offering.
“StayWell Holdings has always been at the forefront of providing value-driven hospitality services across its global destinations. Our expansion plan is designed to bring our personalized products and services to a wider and more discerning target audience. Growth in Southeast Asia, including Thailand, Singapore and Vietnam are on our radar as our next growth frontier,” said Simon Wan, President and Director of StayWell Holdings.

The expansion project, which is expected to be completed by 2032, will focus primarily on an asset-light model with much of the portfolio managed directly by the group. Most of the new properties will be distributed in popular leisure destinations with great tourism potential.
“Our main goal is to create a strong presence in the regions that align with our expansion strategy. In addition to offering unique experiences in all our hotels and resorts, we also want to contribute to the development of the respective tourism sectors, which will increase the visibility and recognition of our brand in global markets. Our vision is to explore growth opportunities by converting operational hotels, look at operational management portfolios and in turn position StayWell as the tourism partner,” said Rohit Vig, VP Development, StayWell Holdings.

Growing the network
The group recently signed a new Park Proxi hotel brand in Egypt – a unique hotel offering more flexibility to hoteliers. In addition, the first Park Regis-branded hotel, 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 Park Regis resort-style hotel from Prince Deira Islands is set to be Dubai’s flagship holiday destination, capping off the group’s expansion exercise. Expected to open its doors to guests by Q1 2023, Park Regis by Prince is designed to set the ultimate standard in guest experience.
The luxurious and premium brand is a significant evolution of the trusted Park Regis Hotel brand, which was first launched in 2006. Following the positioning statement of “The World’s Most Thoughtful Hotels”, Park Regis by Prince is the latest offering in its impressive range brand company. Designed to be exceptional yet accessible, business and leisure guests can enjoy the tradition and luxury of a beautifully curated classic hotel experience, seamlessly blended with modern technology.

The combined brands of 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 guests quality experiences that range from lifestyle luxury to midscale.

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