Do You Have a Clear Hospitality Strategy?

For developers and destinations, the right mix of hospitality product and service components can be pivotal in underscoring legacy and optimising commercial success. Yet so many still ignore or under-state its importance in galvanizing value.

From governments to large-scale master developers and even single project owners across the UAE, Saudi Arabia and wider MENA region, it's worth considering whether now is the time to review your hospitality strategies and offerings. In a region known for its luxury, opulence, and unique cultural richness, the recent convergence of real estate and hospitality offers a promising avenue for value enhancement, demand growth and innovation.

Gone are the days where basic functionality of spaces is enough; sumptuous form and delivery of compelling services have become interwoven expectations of today’s increasingly savvy real estate users and investors, and these components are inevitably wedded to hospitality. 

Well-crafted hospitality strategies can totally transform destinations, off-plan master communities and even single development projects into iconic, memorable and compelling places and experiences that boost appeal and command premiums from today's discerning investors and end users.

Of course, adopting hospitality components is somewhat of a tried and tested formula - used for decades by some to enhance the overall lifestyle, amenities and appeal of large-scale projects. 

But I’m still shocked at how compelling hospitality components are either completely ignored or substantially underrepresented as a major driver for success and competitive advantage by so many players regionally.

Let's explore the key benefits that a hospitality services and products audit and strategy can bring:

1. Increased Appeal and Value: Infusing well-positioned hospitality elements into projects can significantly increase their attractiveness and perceived value among stakeholders. By offering a range of amenities, services, and unique offerings, and potentially strong global brands, a lifestyle that appeals to a broader range of potential buyers and investors can be created.

2. Differentiation and Brand Identity: A well-defined hospitality strategy that involves landmark elements can set your project apart from the crowd. It helps promote distinct brand identity that can resonate with your key stakeholders, leading to enhanced brand loyalty and recognition.

3. Optimized Sales and Investment Opportunities: Hospitality-inspired features can be strong selling points, giving your sales and marketing teams unique advantages when presenting your projects to prospective buyers and investors. Moreover, a well-curated and implemented hospitality strategy can attract international investors seeking opportunities in the region's thriving real estate market.

4. Enhanced Customer Experience: In today's competitive landscape, it’s become increasingly critical to create memorable experiences that resonate. A hospitality-focused approach ensures that every touchpoint in your project, from the first interaction to post-sale services, reflects a commitment to exceptional customer experiences.

5. Long-term Sustainability: A hospitality audit prompts a closer examination of sustainability practices, ensuring that your projects align with modern environmental standards and resonate with environmentally conscious buyers who represent a rapidly growing segment of demand.

What hospitality strategy is right for your project or business?

Of course, expertise in this field can make a significant difference. Drawing upon the insights and wisdom accumulated over more than 25-years, we stand ready to help you develop clearer and more valuable strategies in leveraging hospitality components and themes across your projects. 

About Evarei

Evarei is a boutique advisory firm based in the UAE. We deliver a comprehensive range of management consulting, strategic advisory, project management and business development services to governments as well as large, small and medium size businesses.

Our team of experts are from multiple industries and sectors whom each has over 25 years of experience. We are multi-sector, with an affinity towards technology, services, real estate, leisure, hospitality, healthcare, public sector, education.

Our services include business planning, market intelligence, business development, marketing, digital transformation, transformation, technology transformation and project management consultancy.

Reach out to us for a complimentary discovery session and collaboration opportunities.

Stefan Hickmott, CEO

stefan@evarei.com www.evarei.com