wasl’s Hospitality Achievements Highlighted at AHIC

wasl Asset Management Group’s wealth of achievements in Dubai’s hospitality sector was a key highlight of the 11th Annual Arabian Hotel Investment Conference (AHIC), which concludes tomorrow at Madinat Jumeirah, Dubai. The story of the leading property organisation’s accomplishments was revealed at an exclusive one-on-one session with Hesham Al Qassim, CEO of wasl Asset Management Group, who took the opportunity to showcase how wasl had carved out its reputation since it was established by the Dubai Real Estate Corporation (DREC) in 2008.

wasl’s Hospitality Achievements Highlighted at AHIC

“In the seven years since it was set up by DREC to oversee the management of its assets and grow its real estate portfolio, wasl has been an instrumental force in driving Dubai’s hospitality and leisure sector. The organisation’s hospitality arm, wasl hospitality & leisure, now manages a portfolio of 10 hotels and approximately 5,000 rooms and has forged close relationships with some of the most renowned names in the hotel industry to provide first class hospitality offerings throughout Dubai,” said Al Qassim.

wasl’s current portfolio includes five hotels under the Hyatt Hotels Corporation; the award-winning Grand Hyatt Dubai, Hyatt Regency Dubai, Park Hyatt Dubai, Hyatt Place and the recently launched Hyatt Regency Dubai Creek Heights. It owns five hotels operated under Starwood Hotels and Resorts; Le Méridien Dubai, Le Méridien Mina Seyahi Beach Resort & Marina, Le Royal Méridien Beach Resort & Spa, Le Méridien Fairway and Le Royal Club. The company also has the Jumeirah Zabeel Saray and the Westin Dubai Beach Resort & Marina under its hospitality arm and oversees the management of Dusit Thani Dubai.

Now one of the largest real estate management companies in the UAE, wasl’s three main verticals, property development and management, hospitality and leisure and land asset management, provide services across an array of real estate, lifestyle, leisure, hospitality and business sectors. Al Qassim stated that the company’s main objective is to strengthen Dubai’s position as the premier hub to live and work in and to support its ambition to be the ultimate destination for tourists. He was keen to highlight how wasl is supporting Dubai’s Expo 2020 vision by opening up even more hospitality offerings, many of which have a focus on the mid-range sector.

“The total number of hotel rooms expected to come on board in Dubai over the next five years is quite a substantial figure. wasl is a major part of this hospitality expansion. We have 15 hotels with more than 4,000 rooms in the pipeline, all of which will come on-line before the close of 2019. These include a number of ‘first ever’ offerings; a Hampton by Hilton, the first in the region and the biggest in the world a Mandarin Oriental and two Hilton Garden Inns. We will also be launching a second Hyatt Place onto the market, which is due to open next year. Several of these hotels are in the three and four-star categories to support the government’s aim of growing this sector in readiness for the millions of visitors expected in the run up to 2020,” said Al Qassim.

Concluding the interview, which was carried out on the second day of the three-day AHIC event and moderated by Edmund O’Sullivan, Chairman of MEED Events, Al Qassim was asked about his thoughts for the future of Dubai’s hospitality sector and his advice for operators in the market.

“The hospitality sector is witnessing greater competition year-on-year as consumer numbers grow. People’s needs are continuously changing and the industry needs to adapt. We need more differentiation, as the new generation is looking for more technology with quick and easy services. Operators need to understand the UAE culture, understand the market and understand consumer perception – it is a very dynamic industry and tourist preferences change according to new and different offerings,” said Al Qassim.

“Having said that, we can be inspired by the fact that Dubai has become the benchmark for the global hospitality sector. The Far East was the point of reference in the past, but it is Dubai that is setting new standards now. The city has managed to elevate the tourist and business traveller’s experience, from the minute they board an Emirates Airlines’ flight through to the moment they step through their hotel room door, and then on throughout their entire stay in the city. Dubai now boasts the very best in hospitality, public transport, infrastructure, property facilities and customer service, of which we can be rightfully proud,” he added.

About wasl Asset Management Group

wasl Asset Management Group, one of the largest real estate management companies in Dubai, was established by the Dubai Real Estate Corporation (DREC) in 2008 to oversee the management of its assets and grow its real estate portfolio. Through its three subsidiaries; wasl properties, wasl hospitality & leisure and dubai golf; wasl operates in various real estate, lifestyle, leisure, hospitality, and business sectors. wasl’s main objective is to strengthen Dubai’s position as the premier hub to live and work in and at the same time be the ultimate destination for tourists.