RAK Hospitality Holding posts 17% Q1 2018 revenue growth ahead of AHIC
Posted on April 17, 2018
Ras Al Khaimah, UAE, April 17, 2018– RAK Hospitality Holding LLC (RAKHH), an integrated asset owner and manager of leading hospitality investments, finished the first quarter this year with 17% revenue growth, as it continues to strengthen its position as a leader in the hospitality sector.
2017 ended on a strong note with an overall growth of 6,5% and significant investments across its subsidiaries:
RAK National Hotels (RAKNH) - successfully completed its two year capital investment plan that resulted to the opening of the Hilton Garden Inn Ras Al Khaimah in May 2017, the official inauguration of The Ritz-Carlton Ras Al Khaimah Al Wadi Desert in November 2017 and the completion of extensive refurbishment at the flagship Hilton Ras Al Khaimah Resort & Spa in Q1 2018 while maintaining robust occupancy rates across its portfolio.
Hospitality Advisory Partners established in 2015 and formerly known as RAK Hospitality Asset Management, is extending its advisory services to meet the increasingly complex demands of investors and owners in Ras Al Khaimah as well as the neighbouring emirates across the UAE.
RAK Hospitality Logistics continues to expand its operations, specializing in the provision of premier guest excursions and transportation through Safarak, as well as hospitality employee accommodation and transportation services becoming an invaluable partner to hotels and resorts in RAK.
Hakaya Collection with commercial activities focused on dining, entertainment and leisure has for the first time expanded its operations into Dubai with the opening of its 1st Kona Grill at Al Seef Dubai. Hakaya Collection continues to diversify and expand its business activities to include B2B catering in partnership with RAK Abela.
Mr. Yiannis Anagnostakis, the CEO of RAK Hospitality Holding says, "We are thrilled to participate in AHIC and share our success with like-minded industry leaders. As we are facing the opportunities and challenges that 2018 brings, we look forward to this year’s forum where industry leaders come together to discuss trends for the hospitality sector and support development in the region.
This all comes before the Emirate of Ras Al Khaimah hosts the Arabian Hotel Investment Conference (AHIC) for the first time on 17-19 April. Under the patronage of the Ruler of Ras Al Khaimah, His Highness Sheikh Saud Bin Saqr Al Qasimi, and founding patron, His Highness Sheikh Ahmed bin Saeed al Maktoum, AHIC, now in its 14th year, brings the region's most senior hotel investors, developers, operators and advisors, including Mr. Anagnostakis, who will be participating as a speaker alongside other senior executives to discuss trends and opportunities in the hospitality sector.
RAKHH is deeply rooted in the Emirate of RAK and as a leading sector focused hospitality organization, it aims to complement the Emirate’s ambitious growth plans.
About RAK Hospitality Holding (“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 oversees subsidiary companies that constitute the entire value chain of the group. 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 Ras Al Khaimah Resort and Spa, Rixos Bab Al Bahr, The Ritz-Carlton Ras Al Khaimah Al Wadi Desert, Hospitality Advisory Partners (formally RAK Hospitality Asset Management); its asset management and development advisory arm, RAK Hospitality Logistics; a 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 Arabian Hotel Investment Conference
AHIC, now in its 14th year, is the annual gathering for the Middle East’s hospitality investment community organised by global hotel investment event organiser Bench Events in partnership with MEED Events. AHIC creates a knowledge and networking platform for global and regional investors of all backgrounds, offering essential insights to investing in hotels, showcasing regional and international hospitality investment opportunities and facilitating direct connections with hospitality industry stakeholders. AHIC 2018 will be held in a purpose-built AHIC Village on the beach of the Waldorf Astoria Ras Al Khaimah, UAE, from 17 April to 19 April 2018 in partnership with Ras Al Khaimah Tourism Development Authority (RAKTDA). Held under the patronage of His Highness Sheikh Saud Bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, AHIC 2018 will be co-hosted by its founding patron, His Highness Sheikh Ahmed bin Saeed al Maktoum, Chairman of Dubai Airports, President of Dubai Civil Aviation Authority and Chairman and CEO of Emirates Airline and Group, whose continued support of the industry and AHIC has been critical to the region’s tourism growth. For more information visit: http://www.arabianconference.com
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