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As the leading hospitality management group in the Asia Pacific region, Staywell Holdings has embarked on an aggressive expansion project as part of its global market consolidation strategy in key growth regions.
The ambitious expansion is scheduled to break ground in the fourth quarter of 2022, against the backdrop of a rebound in international tourism in the first five months of 2022, according to the latest World Tourism Barometer from the United Nations World Tourism Organization. Close to 250 million.
Medium- and long-term expansion activities will include the opening of 250 hotels in key bespoke hotel destinations in key regions.
These include the UAE (the second largest Middle Eastern country in terms of international tourist arrivals, with 8.08 million arrivals in 2020) and Asia Pacific.
Staywell’s expansion in the Middle East has also been earmarked to gain the lion’s share of new hotels and resorts, which is critical to the group’s growth strategy, especially as tourists arrive in popular destinations in the region, including the UAE, Egypt and Saudi Arabia At the time, Arabia is expected to grow substantially in the coming years.
“We already have 4 operating hotels in the region and are looking to add our luxury brand The Prince Akatoki here soon. With strong and positive growth prospects, we plan to further expand our hotel portfolio in the region over the next 5 years We hope to double that as soon as possible,” said Simon Wan, President and Director of StayWell Holdings.
Other key regions identified for further expansion of the hotel chain include Europe, the US and Southeast Asia, which are considered high-potential markets.
“StayWell Holdings has been at the forefront of providing value-driven hospitality services in its global destinations. Our expansion plans are aimed at bringing our bespoke products and services to a wider and more discerning target audience,” Wan said.
The expansion project, which is expected to be completed in 2032, will mainly focus on an asset-light model, with the majority of the portfolio managed directly by the group. He added that most of the new properties will be located in popular leisure destinations with huge tourism potential.
The group recently signed a new hotel brand in Egypt, Park Proxi – a unique hotel that offers hoteliers more flexibility. Additionally, the first hotel under the Park Regis Evolution brand, Park Regis by Prince Deira Islands, was recently signed in Dubai.
The Prince Deira resort-style hotel Park Regis is poised to become an iconic Dubai destination, crowning the group’s expansion efforts. Expected to open to guests in the first quarter of 2023, Park Regis by Prince aims to set the ultimate standard in guest experience.
Wan said adding these new hotels to the StayWell stable would complement the brand’s existing hotel network in the region.
Rohit Vig, vice president of development, said the group’s main focus is to build a strong presence in regions that fit its expansion strategy.
“In addition to offering unique experiences at all our hotels and resorts, we also want to contribute to the development of the respective tourism industries, which will increase our brand awareness and recognition in the global market,” said Vig.
He added: “Our vision is to explore growth opportunities by transforming operating hotels, reviewing the operational management portfolio and in turn positioning StayWell as a preferred travel partner.”
Prince Hotels & Resorts and StayWell’s co-branded products 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 a premium experience ranging from luxury to lifestyle to mid-range.-TradeArabia News Service
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