StayWell Holdings have announced the commencement of an aggressive expansion project as part of their global market consolidation strategy across key growth regions.
The ambitious expansion plan, which breaks ground in Q4 2022, comes on the back of rebounding international tourism experienced in the first five months of 2022, with almost 250 million international arrivals recorded, according to the latest UN World Tourism Organization World Tourism Barometer.
The medium to long-term expansion exercise will include setting up to deliver 250 hotels in key bespoke hospitality destinations in critical regions in the Middle-east, including United Arab Emirates, Egypt and Saudi Arabia which are predicted to grow substantially over the next few years. Other key regions that have been identified for the hospitality chain’s further expansion include Europe, United States and Southeast Asia. The expansion project, which is expected to be completed by 2032, will primarily focus on an asset-light model with a major portion of the portfolio managed directly by the group.
“StayWell Holdings have always been at the forefront of delivering value-driven hospitality services throughout their global destinations. Our expansion plan is designed to bring our bespoke products and services to a wider and more discerning target audience. Growth in South East Asia including Thailand, Singapore and Vietnam has been on our radar as our next growth frontier”, said Simon Wan, President and Director, StayWell Holdings.
“Our main focus is to establish a strong presence in the regions that are aligned with our expansion strategy. Besides offering unique experiences across all our hotels and resorts, we also want to contribute to the growth of the respective tourism sectors, which will increase our brand visibility and recognition in global markets. Our vision is to explore growth opportunities by converting operating hotels, look at operating management portfolios and in turn position StayWell as the go-to tourism partner,” said Rohit Vig, Vice President of Development, StayWell Holdings.