2023 is going to be the year of change as we at StayWell Holdings gear up for a robust expansion. This is in line with our global market consolidation strategy across key growth regions. The medium to long-term expansion strategy will include (but not be limited to) setting up 250 hotels over several key bespoke hospitality destinations in the Middle East, Asia Pacific and Europe.
StayWell’s expansion comes at a time when tourist footfall at popular destinations like Bangkok, Singapore, and Saudi Arabia is expected to gain momentum in the coming years. We already have 4 hotel properties in the UAE and would soon be adding our luxury brand – The Prince Akatoki. Our future-forward plan of expansion has been set with a strong and positive outlook, so much so that we are capable of doubling our present portfolio of hotels in the region.
The expansion project, which is expected to be completed by 2032, will primarily focus on an asset-light model for growth and a major portion of the portfolio will be managed directly by the group. Most of the new properties will be spread across popular leisure destinations with enormous tourism potential.
“Our approach is to increase our domestic presence with local opportunities, to establish a strong presence in the regions that are aligned with our expansion strategy especially in new growing markets of Middle East, Thailand and Singapore along with Europe. These markets hold high strategic importance for the brand’s growth while also fitting well in our diversification plan.” said Rohit Vig, Vice President Development, StayWell Holdings.
Growing the network
The group recently signed a new hotel brand named Park Proxi in Egypt – a unique hotel offering flexibility for hoteliers. In addition, the first hotel under the Park Regis evolved brand banner, Park Regis by Prince Deira Islands, was recently signed in Dubai, UAE. Resort-style hotel Park Regis by Prince Deira Islands is poised to be Dubai’s iconic holiday destination, crowning the group’s expansion exercise. Expected to open its doors for guests by the second quarter of 2023, Park Regis by Prince Deira Islands has been designed to set the ultimate standard in guest experience.
The upscale and premium brand is a significant evolution of the reputable Park Regis hotel brand, which was first launched in 2006. Following its positioning statement “The World’s Most Thoughtful Hotels”, Park Regis by Prince Deira Islands is the most recent offerings in the company’s impressive line-up of brands.
Prince Hotels & Resorts and StayWell’s combined brand offerings 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 the guests quality experiences ranging from luxury to lifestyle to midscale.