Real Estate

StayWell Hospitality enters Saudi market

Rohma Sadaqat/Dubai
Filed on April 18, 2016 | Last updated on April 18, 2016 at 09.25 pm
StayWell Hospitality enters Saudi market
StayWell Hospitality signed a deal with Asas Capital in Dubai on Monday to open and operate its Makkah hotels.

(Supplied photo)

Opening of Park Regis Makkah hotels to bring group's portfolio to 31 hotels worldwide

StayWell Hospitality Group has announced the debut of its first two Park Regis properties in the holy city of Makkah in Saudi Arabia.

The group signed a management agreement with Asas Capital in Dubai on Monday to open and operate the properties. Expected to open in the second quarter of 2018, the two hotels boast 286 and 344 guest rooms, respectively. This Park Regis development will be one of the latest openings for the fast growing international brand, which has a presence in Australia, Singapore, the UAE, India, the UK and Indonesia.

The opening of the Park Regis Makkah hotels will bring the StayWell Hospitality Group's portfolio to 31 hotels worldwide, with four in the region, and a step closer to the group's strategic objective of expanding its portfolio to 100 hotels within three years.

Speaking to media after the signing of the agreement, StayWell Hospitality Group CEO Simon Wan said that "for strategic and logistic reasons, it makes sense for us to have a contract that covers two hotels".

"Saudi Arabia is an extremely important market for us in the Middle East region. It was important for us to find the right partner in a specific location, when it comes to our expansion plans in the region," Wan said. He also hinted at plans to bring the group's Leisure Inn brand to the kingdom.

"These two unique hotels will offer guests superb dining options as well as deluxe accommodation within walking distance to the Grand Mosque in Makkah. The hotels are targeting to open in time for the 2018 Hajj, and will welcome guests for the annual Islamic pilgrimage to Makkah. We are looking forward to both hotels complementing our existing Park Regis Kris Kin and our upcoming Park Regis Business Bay hotel, located in Dubai. We are also actively looking for further opportunities to expand our network in the Middle East," Wan said.

Asas Capital CEO Riyad Alhoraibi added: "We are delighted to be able to offer guests a range of accommodation in Ibrahim Al Khalil Street within walking distance from the Haram. The properties are already under construction and we expect them to be finished in two years time. Makkah and Dubai will soon be a hub for tourism in the Middle East, and we are working towards meeting the increased demand for hotel rooms."

He also spoke on how Saudi Arabia is changing its strategy, when it comes to tourism. "Hajj and Umrah are both important times for us, but now Saudi Arabia is opening more visas for Umrah, which will increase demand for hotel rooms. There are also several ongoing and expansion projects that will require a greater number of hotel rooms in the coming years, such as the expansion of Jeddah International Airport and the expansion of the Grand Mosque to accommodate more pilgrims," he said.

Speaking on the progress being made on the Park Regis Business Bay, Wan said: "Dubai's Business Bay is one area which we believe will become an important strategic business location in the next five to 10 years. After having the Park Regis Kris Kin in Bur Dubai for close to five years, we realised that it was time to open a sister property in another location, and hence we decided to have one in Business Bay."

He revealed that the Park Regis Business Bay property will have 280 keys, with four f&b outlets, two restaurants, and two function rooms. "The building will boast 39 storeys, with the top 18 storeys dedicated to the hotel, and the rest will be office and retail businesses. The hotel is slated to open in the first quarter of 2017," he said.


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