Staff Report,
Dubai, UAE
Stirling Hospitality Advisors, a subsidiary of Ras Al Khaimah Hospitality Holding, has chosen The First Group (TFG) as the operator for Silver Sands Beach in Jeddah, Saudi Arabia. The 107-key development by a Saudi-based developer is TFG’s first operational property in Jeddah. It is projected to open in Q1 2024.
Tatiana Veller, Managing Director of Stirling Hospitality Advisors, said, “We are excited for this collaboration and the upcoming opening of the luxury beachfront residential community in Jeddah. Scheduled for Q1 2024, the project will offer deluxe seafront serviced townhouses, bungalows and apartments, as well as a range of amenities including a private beach, restaurants, fitness and spa facilities. The Kingdom’s hospitality industry is rapidly expanding, and we are proud to play a role as it transforms into a premium destination for the region.”
As lead advisors on the project, Stirling Hospitality Advisors selected the operator search based on key criteria provided by the developers. 27 potential operators were closely evaluated based on their knowledge of the Saudi Arabia market, experience in property and community management, current operating standards, service level, and ability to provide technical management.
David Thompson, Senior Vice President of Business & Brand Development of The First Group, said, “We are delighted to have been selected to operate the new beachfront residential community, marking TFG’s debut operation in Jeddah, Saudi Arabia. Stirling Hospitality Advisors has been an invaluable partner throughout the selection process. Their keen insights into market dynamics and strategic recommendations were instrumental in us securing the operator role.”
Currently, Stirling Hospitality Advisors asset manages over 3,500 hotel rooms in three countries and is responsible for a hotel and resort portfolio valued at over US$1.25 billion. Saudi’s tourism is gaining much traction following the commencement of large scale developments like NEOM. This has driven international hospitality management groups to expand their footprint in the burgeoning economy.
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