Tourism Breaking News
As the advisory arm of Ras Al Khaimah Hospitality Holding (RAKHH), in the past 5 years, Stirling Hospitality Advisors (SHA) has consulted on close to 30 projects in the northern emirate, including hotels, luxury resorts, experiential camps and more. According to the latest data from Ras Al Khaimah’s municipality, the emirate experienced a 45 per cent increase in overall real estate transactions in the first half of 2022, compared to H1 2021. In that period alone, it recorded more than AED 4 billion worth of real estate transactions, further cementing its position as an attractive real estate and hospitality investment hub for hotel groups and investors.
With a series of recent hotel openings and tourism activations, the northern emirate has been leading the region’s tourism sector thanks to its diverse offerings that cater to guests across all age groups and interests. The latest announcement from Wynn Resorts marks the first integrated resort in the GCC, bringing another unique hospitality offering to the region. Additionally, the emirate was also selected by Time magazine as one of its World’s Greatest Places of 2022 for its stunning geodiversity and superlative outdoor adventure offerings.
Amongst the various destinations SHA currently oversees projects in, the consultancy played an instrumental role in developing the Northern Emirate into a world-renowned tourist destination for active and family tourism. Over the past 5 years, SHA has participated in the pre-opening and opening of 10 hotel projects across its portfolio, showcasing its superlative industry experience in successfully transitioning hotels from concept development to operational.
Tatiana Veller, Managing Director of Stirling Hospitality Advisors said: “Ras Al Khaimah is an increasingly attractive market for investors and real estate owners at the moment. From coastal to mountain tourism, RAK provides a wide landscape of development opportunities to suit the various needs and tastes of international and domestic travellers. With several hotels and attractions launched for those seeking wellness, leisure, adventure and beyond, RAK is set to become the premier travel destination for guests from all over the world. We look forward to working alongside our partners in driving new opportunities to attract further investments to the emirate, ultimately contributing to the development of the overall economy and varied sectors.”
Donald Bremner, Chief Operating Officer of Ras Al Khaimah Hospitality Holding added: “RAK has increasingly become an attractive investment destination and we continue seeing international hotel groups and developers locking in impressive deals to build in the emirate. Simultaneously, we are working towards building the necessary infrastructure to support the construction of such projects and further attract expatriates into the city.”
With sustainability at the forefront, Ras Al Khaimah Tourism Development Authority (RAKTDA) mapped out a Sustainable Tourism Destination Strategy earlier in 2021, across 20 new sustainable tourism projects valued at AED 500 million, aimed to be delivered by 2025. Similarly, government entities, hotels and supporting industry members are working in synergy to integrate sustainable practices across their projects.
Following a proven track record of successful project delivery under RAKHH, SHA has been appointed to offer professional pre-opening and asset management services for a number of upcoming projects across the GCC, in key markets including UAE, Oman, and the Kingdom of Saudi Arabia.
As one of the largest and most rapidly growing tourism markets in the UAE, RAK is on track to boost the number of visitors to the emirate to more than 1.11 million by 2025. With several new properties in the pipeline, the RAK portfolio of hotels is expected to grow to over 12,700 keys.
