Talking with Tatiana Veller, MD, of Sterling Hospitality Advisors, about RAK’s hospitality potential

Google News Ras Al Khaimah’s hospitality sector is characterized by its rich history and natural attractions, offering an authentic Arabian experience. Find out more from Tatiana Veller, Managing Director. Sterling Hospitality Advisors.

Google News What are the unique features of RAK’s hospitality sector?

RAK’s hospitality sector is distinguished by its rich history and natural beauty, offering an authentic Arabian experience. Additionally, RAK boasts pristine beaches, lush mangroves and Jebel Jais, and aims to attract 3 million tourists by 2030. Additionally, the $4 billion Win Al Marjan Island project aims to double the hotel’s room inventory in four years and triple it by 2030. Additionally, strategic initiatives aim to enhance natural, adventure, cultural and MICE facilities in line with RAKTDA’s goal of being a premier destination. situation.

Google News How do you foresee the future of RAK’s hotel sector?

From 2024 to 2027, the number of keys at Ras Al Khaimah Hotel will double, with approximately 7,000 additional keys. In addition, he is in talks for a further 1,000 locks to open by 2030. Additionally, 88% of the 18 planned hotels are five-star hotels, while the rest are in the three- and four-star categories. Additionally, this expansion means that by 2027, 68 percent of RAK’s hotel inventory will be his five-star hotels, of which 69 percent will be on Almarjan Island. Finally, these additions not only meet a need, but also align with his 2030 vision for RAK to triple visitor numbers.

Google News In your opinion, can RAK’s hospitality sector compete with the rest of the UAE?

RAK’s blend of natural beauty and culture is the cornerstone of its ambitious hospitality goals, which aim to become a premier tourist destination by 2030. Additionally, being the first emirate with integrated gaming facilities also sets RAK apart. Finally, by leveraging its strengths and focused development strategy, RAK will be able to compete effectively in the hospitality sector.

Google News What are the key findings of the RAK Investment Pulse report?

The majority of planned hotels (82%) are five-star hotels, demonstrating the expansion and improved image of RAK’s luxury hotel market. As a result, the proportion of luxury real estate he is expected to rise to 68% by 2027. Additionally, hospitality has proven to be a profitable asset class, with project IRRs of 12 percent to 15 percent and equity IRRs of up to 20 percent. Additionally, by 2030, RAK will be able to comfortably accommodate over 10,000 additional keys across all hotel categories. Additionally, there are few projects announced in the mid-to-luxury segment, leaving untapped investment opportunities. Finally, we are diversifying our investments beyond hospitality into residential, retail and other sectors to accommodate RAK’s growing population and influx of tourists.

Sterling Hospitality