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Charting the Course for the Business Travel Industry in 2024

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Ali Haider, Director Nomadic

The UAE’s triumphant narrative in the post-pandemic era reflects a strategic fusion of business and leisure, shaping the landscape for travel in 2024. Underpinning this trend are international companies, investors, and entrepreneurs, each playing a pivotal role in building the thriving landscape of the UAE. Beyond its geographical appeal and its central location, what distinguishes the UAE is its unwavering commitment to cultivating a diverse and inviting business environment, as evidenced by being ranked 16th globally in ease of doing business by the World Bank in 2020.

Key to this success is the visionary Golden Visa program, a key driver attracting top-tier talent seeking more than just transient opportunities. The Golden Visa initiative has proven transformative, surpassing expectations with over 151,600 enrollments between 2019 and 2022, according to the General Directorate of Residency and Foreigners Affairs (GDRFA) in the UAE. It stands as a symbol of the country’s commitment to fostering a global talent pool that can thrive in a business-friendly environment.

Anticipating the Dynamics of Global Meetings

The country’s position as a leading business hub has resulted in an increasing trend of extended stays. Beyond boardrooms and business negotiations, visitors find themselves drawn to the cultural richness and recreational activities that the country offers. According to the UAE Ministry of Economy, the contribution of the travel and tourism sector to the UAE’s GDP was nearly AED 167 billion which is equivalent to 9% of total GDP, indicating a growing trend where business travel can transform into holistic experiences embracing the country’s diverse attractions.

As the UAE prepares to host COP28, a significant international event focused on climate change, there’s a notable synergy between this environmental platform and the world of business travel. The event, set to shine a global spotlight on the UAE’s commitment to sustainability, also presents a strategic opportunity for businesses to engage in meaningful face-to-face interactions. This makes it evident that true “sustainability” is not about restricting powerful face-to-face connections that foster partnerships, collaboration, and help forge connections beyond the confines of virtual meetings, but rather finding harmony between business imperatives and ecological impact. Because real sustainability is not just about less travel – it is about smarter, more conscious travel.

Evolving Immigration Landscape: Navigating the Path Ahead

In the face of an increasingly globalized economy and heightened global competition for top talent, the UAE’s proactive and ongoing adjustments to its immigration landscape usher in new visa categories and foster inclusivity that benefits both travellers and businesses. Other broader initiatives, such as the Dubai Economic Agenda D33, anchor these changes and help set the scene for Dubai to cement itself among the world’s top three cities and ultimately pave the way for the country to have an exceptionally open and inviting business landscape.

The attractiveness of the immigration landscape to diverse international talent will also fuel growth by allowing businesses access to a world-class talent pool that houses fresh perspectives, skillsets, and innovative ideas.

Adaptability of the UAE’s business environment

As the UAE continues to redefine itself on the global stage, the convergence of business, leisure, and global talent paints a compelling picture of a nation that has seamlessly adapted to the challenges of a post-pandemic world. The UAE stands testament to the power of innovation and strategic vision and offers a blueprint for other nations seeking to forge their own path of prosperity and inclusivity.

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Hospitality

Stirling Hospitality Advisors’ new Development Advisory Vertical Kickstarts with an Upper-Midscale Hotel project on Al Marjan Island

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marjan island hotel new project

Stirling Hospitality Advisors announces the launch of a new Development Advisory Vertical designed to provide hospitality developers with a comprehensive services package that will include essential support throughout the entire development process.

Under the new Development Advisory Vertical, Stirling Hospitality Advisors will coordinate the project on behalf of the owner from concept ideation to development and construction, until the hotel is fully operational.

Commenting on the launch,Tatiana Veller, Managing Director at Stirling Hospitality Advisors said: “We have successfully positioned ourselves within the heart of the action in Ras Al Khaimah, and are delighted to be able to capitalize on the huge opportunities that are available here, and the rapid market growth. With our expertise and resources, we hold the keys to successful hotel development. We’re excited to launch our new development advisory vertical, further cementing our leadership in the industry.”

Under the new vertical, the hotel development process will start with Stirling Hospitality Advisors assisting the investor with concept creation, feasibility study, hotel operator/brand search, and negotiation. Following this, the expert team will continue overseeing and coordinating all stakeholders throughout the development process, anticipating potential problems that a first-time developer might not foresee.

Led by Michael Bagdasarov, Senior Advisory Manager at Stirling Hospitality Advisors, the team has already begun servicing clients under the new vertical with two projects underway. This includes a complete development advisory services agreement with BB Holding for an upper-midscale branded hotel on Al Marjan Island in Ras Al Khaimah, with approximately 300-350 keys. Having successfully helped BB Holding with the land acquisition and completion of an in-depth feasibility study and concept development for the project, Stirling Hospitality Advisors is in the middle of the operator search and selection process, as well as supporting the client in securing financing for the project.

Commenting on the new vertical, Michael Bagdasarov, Senior Advisory Manager at Stirling Hospitality Advisors said: “We understand that developing a new hotel from scratch often creates anxiety for first-time hotel developers, especially those without a fully-fledged in-house development team. Our all-in-one Development Advisory Services package offers a holistic approach, allowing developers to choose their level of involvement, whether being hands-on in every decision or relaxing with the assurance of having a professional hospitality team screening every element of the project and bringing them a choice of solutions rather than a stack of problems.”

Meanwhile, Stirling Hospitality Advisors are also assisting Garden City Investments – the owner of a design-driven boutique hotel project in Jumeirah Gardens district in Dubai. After completing a full feasibility study, Stirling Hospitality Advisors recommended a franchise approach by an operator with a soft brand, allowing the owner to accomplish their vision for the hotel’s boutique design and distinctive identity, while still reaping the benefits of being a part of a major international brand.

The Development Advisory Vertical is part of Stirling’s long-term vision to be renowned by all stakeholders for the value they add to any hospitality project. As a subsidiary of Ras Al Khaimah (RAK) Hospitality Holding, Stirling Hospitality Advisors currently asset manages over 3,500 hotel rooms in three countries and is responsible for a hotel and resort portfolio valued at over USD 1.25 billion.

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Hospitality

IDeaS Now Available on the Oracle Hospitality Integration Platform (OHIP)

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IDeaS announced that it has reached the milestone of nearly 2,000 properties live on the Oracle Hospitality Integration Platform (OHIP). This integration seamlessly connects RMS solutions, including IDeaS G3 RMS, with Oracle’s OPERA Cloud platform, accessible through both OHIP and the Oracle Cloud Marketplace – a centralized hub for enterprise applications.

Building upon their 25-year legacy of hospitality innovation, IDeaS and Oracle are nearing a milestone of 10,000 shared clients. IDeaS G3 RMS, a system that delivers scientific pricing decisions at the room type and rate code level to drive optimal revenue performance, seamlessly connects with OPERA Cloud via OHIP. This empowers faster implementations without requiring Oracle’s intervention, ensuring efficient and scalable integration for their extensive network of hoteliers.

Connected hotels have expressed excitement about the increased efficiency, ease of integration, and a faster interface. IDeaS is currently connecting 50 to 100 hotels per week, providing the advantage of enabling future capabilities and additional IDeaS solutions more quickly.

Oracle Cloud Marketplace is a one-stop shop for Oracle customers seeking trusted business applications offering unique business solutions, including ones that extend Oracle Cloud Applications. Oracle Cloud is an enterprise cloud that delivers massive, non-variable performance and next-generation security across a comprehensive portfolio of services, including SaaS, application development, application hosting, and business analytics. Customers get access to leading compute, storage, data management, security, integration, HPC, artificial intelligence (AI), and Blockchain services to augment and modernize their critical workloads. Oracle Cloud runs Oracle Autonomous Database, the industry’s first and only self-driving database.

industry has long craved faster data exchanges and more capabilities to handle ever-increasing Klaus Kohlmayr, chief evangelist and development officer, IDeaS, said: “The hospitality data volumes, and OHIP delivers precisely that. By accelerating data exchange and efficiently transmitting the staggering 12 billion pricing decisions IDeaS processes daily, OHIP empowers us to innovate faster as partners with Oracle. This goes beyond pricing and forecasting – it unlocks the true potential of data-driven revenue management, allowing hoteliers to make smarter decisions and achieve optimal results.”

Laura Calin, vice president of Hospitality Strategy and Solutions Management, Oracle, said: “Oracle Cloud Marketplace is a treasure trove of some of the best hospitality software and services available on the market today. Our partner IDeaS Revenue Solutions can now take advantage of our self-service integration platform, allowing them to scale deployments and significantly simplify the support model of their interface.”

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Hospitality

Rotana announces the opening of its first property in the holy city of Madinah, Al Manakha Rotana

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rotana hotel ksa

Rotana announces the opening of Al Manakha Rotana in Madinah, Kingdom of Saudi Arabia (KSA).

With a landmark location in the centre of the holy city of Madinah, Al Manakha Rotana aims to serve travellers seeking a unique cultural experience, as well as the millions of pilgrims who partake in the annual Islamic pilgrimage to Madinah, home to Islam’s second holiest shrine, the Prophet’s Mosque.

Commenting on the announcement, Philip Barnes, CEO of Rotana, said: “We’re thrilled to inaugurate the new Al Manakha Rotana in the historic city of Madinah. Religious tourism remains a key pillar of Saudi’s economy and plays a vital role in supporting the Kingdom’s growth strategy. Marking our tenth property opening in Saudi Arabia is a proud milestone for Rotana, reinforcing our commitment to the country and serving all travellers to the holy city.”

Situated in front of Islam’s second-holiest shrine, the Prophet’s Mosque, and surrounded by vibrant shops and cafes, as well as iconic historical sites such as Omar bin Khattab Mosque and Al Ghamamah, the four-star Al Manakha Rotana offers a haven of comfort and convenience for pilgrims and travellers alike.

Each of the hotel’s 512 rooms and suites is thoughtfully designed and equipped with modern fittings and furnishings. Many of the rooms also offer uplifting views of Madinah’s most sacred site, the Prophet’s Mosque, adding a touch of serenity to every stay. For guests looking to maintain their fitness, a fully equipped gym with sweeping vistas over the holy city’s landmarks is located on the 12th floor. To ensure a comfortable and inclusive environment, specific timings are allocated for male and female guests.

In addition, the property offers four distinctive dining venues, including two all-day dining restaurants with a diverse selection of local and international dishes catering to regional and global tastes. For guests seeking a more laid-back option, a lobby café and a stunning rooftop terrace overlooking the cityscape serve a tempting array of international cuisine to satisfy guests during their stay.

Al Manakha Rotana’s opening aligns with Rotana’s ambitious goal of launching eight properties in KSA over the next four years, bringing the total key count to more than 4,400 across 18 properties.

Other KSA openings in the pipeline include four Edge by Rotana and one Rayhaan by Rotana in Riyadh, and three properties in Al Baha, all set to open by 2028.

Rotana’s portfolio currently spans 20,088 keys and six superlative brands, including an impressive 2,828 keys across ten hotels in the Kingdom of Saudi Arabia.

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