Hospitality Advisory Partners launches at AHIC 2018
Posted on April 18, 2018
RAK, UAE, April 18, 2016 – RAK Hospitality Holding, an integrated asset owner and manager of leading hospitality investments, announced the evolution of its asset management subsidiary into a strategic advisory firm launching Hospitality Advisory Partners at AHIC 2018.
Hospitality Advisory Partners provides a comprehensive set of consulting services ranging from investment and operator selection advisory, to asset management and management contract negotiation. Benefiting from wide-ranging industry knowledge of a senior team dedicated to provide hands on approach to the evolving complexities of todays clients demands both in the region as well as internationally.
According to Mr. Yannis Anagnostakis, CEO of RAKHH, “This strategic move first and foremost was driven by a solid client demand for an all inclusive approach to asset management and advisory services as well as the desire to extend our reach and expertise beyond RAK and collaborate with like-minded partners to delivering value to owners and investors.
Most recent success is the strong performance of RAK National Hotels following 17% revenue growth after significant investments in renovation and restoration across its portfolio.”
In the GCC, according to STR (from August 2017), the Middle East construction pipeline totalled 583 hotel projects under contract, where the UAE and Saudi Arabia both claim the most active hotel construction areas in the region, with 40,020 guestrooms in 89 projects in Saudi Arabia's pipeline and 35,050 in 121 projects in the UAE.
Hospitality Advisory Partners has a leadership team with proven expertise and a track record of building strong and long-lasting relationships as owners, investors, and asset managers.
Leading Hospitality Advisory Partners is General Manager Alan Christie. A recognised hospitality specialist, Alan has worked in hospitality operations, orchestrated acquisition, disposition and asset management in the hospitality, real estate and finance industries across 3 continents the past 20 years. Alan holds various degrees at MSc level and professional certifications from Cass Business School, Harvard Business School and Cornell University. Along with his partners, the team at HAP is currently responsible for a portfolio of 10,5 million square feet of Hospitality and Leisure Real Estate.
Alison Grinnell, Chief Financial Officer of RAKHH, who has over 20 years hospitality advisory experience working with firms such as PwC and in over 30 countries, says, “The trends in hospitality are shifting and as the ecosystem becomes more complex, solving multifaceted challenges requires an holistic approach to asset management. We are advisors with real hands on industry experience as both owners and operators managing 4,500 hotel rooms”
Other major trends in the sector include customization, innovation, disruptions and other macro and micro economic challenges that will continue to prompt senior-level executives in the industry to think outside of the box in hospitality and leisure sectors which has been against the generally homogenous hotels formula in the second half of the 20thcentury.
About RAK Hospitality Holding LLC (“RAKHH”)
Established in 2014 by the government of Ras Al Khaimah, RAK Hospitality Holding LLC was formed with a mandate to consolidate and asset manage a diverse portfolio of government owned hotels, hospitality and leisure assets. RAK Hospitality Holding manages subsidiary companies that oversee the entire value chain of hospitality related services in Ras Al Khaimah. Its subsidiaries include; RAK National Hotels; which owns hotel assets ranging from midscale to luxury, and locations ranging from city to beach to desert; namely the Hilton Garden Inn Ras Al Khaimah, Hilton Resort and Spa, Rixos Bab Al Bahr, The Ritz-Carlton Ras Al Khaimah Al Wadi Desert, Hospitality Advisory Partners (formally RAK Hospitality Asset Management); the asset management and development advisory arm, RAK Hospitality Logistics; the provider of services and logistics to Ras Al Khaimah’s hospitality sector, Hakaya Collection; the operating arm of hospitality and leisure assets. For more information, please visit: www.rakhospitalityholding.com
About Hospitality Advisory Partners
Established originally in 2015 as RAK Hospitality Asset Management LLC (“RAKHAM”), Hospitality Advisory Partners is a subsidiary of RAK Hospitality Holding LCC (“RAKHH”), and provides asset management, development and advisory services to group entities as well as private hotel and resort owners and developers. Backed by a culture of client service, collaboration and integrity, RAK Hospitality Advisory Partners is committed to creating, protecting and growing value for its clients. For more information, please visit our website: www.hospitalityadvisorypartners.com
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