Hospitality

The New Role of Asset Managers in GCC’s Mixed-Use Hospitality Boom

Published

2 months ago

June 30, 2026

Exclusive interview with João Cravo, VP of Asset Management, Trilight Hospitality Asset Management

Hospitality assets across the GCC are becoming increasingly complex, particularly with the rise of mixed-use developments and branded residences. How has this changed the role of independent asset management in recent years?

The role has evolved significantly as independent asset management was viewed primarily as a performance-monitoring function — focused on reviewing reports, challenging budgets and tracking how the hotel was performing. Today, especially in the GCC region, the role has become far more strategic than that.

Many hospitality assets today are no longer just hotels, particularly when within mixed-use developments where the hotel operates alongside branded residences, F&B concepts, wellness offerings, retail and in some cases, office or entertainment components. In many instances, the residential component is a key driver of the overall investment proposition, however its inclusion also makes the model much more complex.

If these projects are set up well, they can create real value across the different components. However, they can also lead to operational challenges and stakeholder conflicts if the overall structure, governance and long-term operating framework are not carefully thought through from the outset. Each component should be assessed independently, with clearly defined objectives and financial logic, ensuring that the project in its entirety works without one component subsidising another.

In these mixed-use developments, the asset manager function and role have evolved substantially. It is no longer sufficient to evaluate the hotel operation in isolation. A broader approach is required to first understand and then develop and manage the complete ecosystem, including the various stakeholders involved. This includes aligning interests across shared areas and services in a way that creates synergies, supports collaboration and protects the long-term value of the asset for all stakeholders.

Many hotel owners assume that partnering with a strong international operator guarantees long-term success. Where do the biggest blind spots tend to emerge within operator-owner relationships?

One of the key considerations that is often overlooked is at the very beginning: selecting the right operator or brand for the asset. Owners can sometimes place too much emphasis on fee structures, whereas the most important question should be whether the operator is the right fit for the asset and whether the chosen brand has the ability to genuinely create value.

A stronger brand can easily justify a higher fee if it delivers better distribution and stronger market reach through its systems and platforms. However, this value proposition needs to be carefully assessed. In markets where there is already a high concentration of hotels operating under the same brand family, the incremental value by that brand may be more limited than expected.

More broadly, owners should not assume that appointing a leading operator automatically guarantees into a successful investment outcome. The operator relationship is a long-term partnership, and the decision should be evaluated by considering the overall brand fit, the operating model, the commercial assumptions and the agreement itself.

The complexity increases further in mixed-use projects, where the interests extend beyond the hotel owner and operator, to include residential owners, as well as owners and tenants of other components. This makes early strategic planning and ongoing asset oversight critical. Owners benefit from engaging advisors who remain actively involved beyond the development and pre-opening stages, to support long-term performance.

From your experience, what are some of the biggest differences between how operators measure success versus how owners and investors evaluate asset performance?

Operators and owners evaluate the same asset, but from fundamentally different perspectives. Operators typically focus on the performance of the business as an operating platform — including key operating metrics such as occupancy, ADR, RevPAR, guest satisfaction, loyalty contribution, market share and adherence to brand standards. While these indicators remain important and will always be, owners and investors primarily assess the asset through a long-term investment lens. Their focus is on profitability, cash flow, return on capital and overall operational efficiency. A hotel can be performing well operationally while still under-delivering from an ownership perspective if the cost base is too high, the capital structure is suboptimal, or certain parts of the asset are not performing to their full potential.

The other shift in the market is the changing nature of operators themselves. Many are prioritising the expansion of their platforms, including through franchise models, which provides owners with more options but also requires clarity on objectives and expectations at the outset of the partnership.

Ultimately, the core difference remains operators are primarily focused on the day-to-day running and performance of the business, whereas owners are focused on whether the asset is generating the right long-term value. Increasingly, even trophy and luxury assets that were previously not fully optimised are being refined towards higher levels of operational efficiency. This is occurring even where current owners may have no immediate intention to exit, although such optimisation preserves optionality for future ownership cycle and ensures the asset is well positioned for any strategic shift overtime.

Hospitality today is often driven by occupancy, visibility and guest experience, but how can owners identify whether an asset is truly performing sustainably behind the scenes.

Occupancy remains an important performance indicator, but it only represents one part of the overall story. In many cases, assets that achieve very high occupancy levels may struggle to keep pace with the maintenance requirements and ongoing investment needed to preserve the asset, creating challenges over the longer term. Owners should look beyond top-line and bottom-line performance and assess the profitability by department, labour productivity, cost per occupied room, energy efficiency, long term capital expenditure planning and the asset’s ability to maintain the integrity of these ratios without compromising the future.

This approach is a key consideration in the assets we manage and encourage owners to maintain a strong focus on long-term capital planning. An asset may appear to be performing well today; however deferred maintenance or insufficient reinvestment can quickly become a future liability over time. This is particularly relevant in a region like the Middle East where the pace of innovation continues to accelerate.

It is also important to recognise that occupancy can be driven through increased spend; market visibility can be purchased and even guest satisfaction can sometimes be enhanced in the short term through over-servicing and over-spending. Sustainable performance requires a deeper evaluation that considers not only current operating results, but also asset condition, maintenance standards, lifecycle planning in conjunction with the market trend and funds available.

At what stage should developers and investors involve independent asset managers in a project and what costly mistakes happen when strategic oversight comes in too late?

As owner representatives, asset managers should be involved from the earliest stage of a project. Key phases such as highest and best-use analysis, concept development, feasibility assessment and operator selection all benefit from the involvement of an experienced asset management company. Even where external consultants are appointed, the ownership team still needs the ability to critically review, challenge recommendations and validate key assumptions and outcomes. One common example is the appointment of designers and architects who may have limited understanding of hospitality market dynamics and the commercial implications of design decisions. The layout, facilities, room mix and operational requirements can have a significant impact on the long-term performance of the asset and should not progress without a robust strategic and commercial review.

This is particularly important for mixed-use and luxury developments, where the ambition of the project can sometimes exceed the commercial discipline and the right development methodology. Creating a visually impressive asset is one objective; however, creating an asset that is equally compelling while operating efficiently for the next two decades and achieving the desired investment returns is far more complex.

Independent asset management adds value from the outset by introducing a commercial and operational perspective into decisions that may otherwise be driven by architecture, brand standards or development momentum. This ensures the final product is aligned with the vision and positioned for long-term value creation.

As the GCC hospitality market becomes more competitive and investment-focused, how do you see the relationship between owners, operators and independent asset managers evolving over the next few years?

The Middle East has developed and continues to develop some of the most impressive hotels and mixed use developments in the world. The region has become a leading platform for brands to innovate, launch new concepts and enhance their product offerings. As a result, we are seeing brands introduce sophisticated experiences, amenities, and overall product standards – at times creating assets that are beyond traditional benchmarks. However, this level of ambition should not come at the cost of owners and developers. With the right commercial discipline, it is possible to develop assets that are financially sustainable.

We also believe that for many years, the growth of the market allowed certain operational inefficiencies to be absorbed. Strong demand, destination growth and increasing market appeal helped mask some underlying challenges. As the market continues to mature, capital becomes more selective and new supply increases competition, owners will place greater emphasis on profitability, cash flow generation, capital allocation and governance rather than focusing solely on topline growth and brand affiliation.

This shift does not mean relationships between owners and all stakeholders will become adversarial; in fact, the strongest partnerships are built on alignment of sustainable grounds to work. Operators will increasingly be required to justify investment requirements, whether related to repositioning initiatives or capital allocation, particularly as more mature and older assets require strategic reinvestment. Owners will seek greater transparency into performance drivers, while independent asset managers will increasingly play a critical role in bridging the gap between operational performance and investment outcomes.

We expect the continued growth of branded residences, mixed-use destinations and more sophisticated ownership structures to accelerate this trend. As assets become more complex, evaluating performance through a single lens is no longer sufficient. This is why we consistently refer to the importance of understanding the “sum of the parts” – an approach that has become our motto.

Ultimately, the owner needs an independent perspective focused not on operating the hotel, or protecting the brand, but on ensuring that the overall asset continues to deliver the appropriate commercial outcomes over time.

Hospitality

SIPS & SERENATA: MIDWEEK, THE TRUE ITALIAN WAY AT CUCINA

Published

12 hours ago

September 1, 2026

Integrator Web-Editor

Wednesdays at Cucina are getting a new soundtrack with the launch of Sips & Serenata, bringing together live entertainment, a vibrant aperitivo

experience and authentic Italian flavours at the Palm West Beach trattoria. Inspired by Cucina’s celebration of aperitivo culture and the Italian ritual of gathering over good food, good wine and great company, the new weekly experience offers guests a taste of la dolce vita in the middle of the week.

Taking place every Wednesday from 7pm until late, Sips & Serenata is inspired by the Italian tradition of aperitivo, an evening made for sharing, socialising and lingering a little longer around the table. Guests can settle in over vino carafes and signature spritzes as the evening unfolds, bringing a little of the Italian way of life to Dubai’s midweek dining scene.

Priced at AED 299 for two, the experience includes two hours of free flow wine carafes alongside the Tagliere dello Chef, a generous antipasti board featuring a chef’s selection of Italian cheeses and an assortment of beef or pork cold cuts, with the option to enhance the experience with favourites such as arancini, bruschetta, focaccina, marinated Apulian olives and fried calamari.

Adding to the atmosphere, Verou Poli will provide the soundtrack to the evening. Known across Dubai for her live performances and distinctive one-woman-band format, Verou combines vocals, piano, percussion and live looping in real time. Fluent in both English and Italian, her repertoire spans timeless classics and contemporary favourites, creating the perfect backdrop for Cucina’s spirited aperitivo nights.

Made for after-work aperitivo, date nights or a midweek catch-up with friends, Sips & Serenata offers an easy excuse to linger a little longer at Cucina. The à la carte menu is also available throughout the evening.

Offer Details:
When: every Wednesday from September 2026
Time: 7:00pm until late
Where: Cucina, Palm West Beach
Price: AED 299 for two, including two hours of free-flow carafes of vino and Tagliere dello Chef
Add-ons: Arancini (4 pieces) AED 30, marinated Apulian olives AED 10, fried calamari AED 30, bruschetta (2 pieces) AED 20 and freshly baked focaccina AED 30
À la carte: also available

Hospitality

THE ART OF CULINARY VERSATILITY

Published

6 days ago

August 27, 2026

Integrator Web-Editor

Exclusive interview with Chef Tim Newton, Executive Chef of the Demind Group

You began your culinary journey in a small town and went on to work across some of the world’s leading gastronomic destinations. Looking back, what moments fundamentally changed the way you understood food and the craft of being a chef?

I don’t think there was one defining moment that changed how I understood food. As a young cook, you learn how to respect ingredients and bring out their best flavours. As you grow in the profession, you also learn how to create dishes that are commercially successful without compromising on taste. Now, in my forties, my focus is on respecting the product, creating something memorable for the guest, ensuring the business remains profitable and, most importantly, being original in my work.

From working alongside some of the industry’s most respected chefs to leading the culinary direction of multiple high-profile concepts, what experiences have most shaped your approach to cooking and leadership?

My approach to both cooking and leadership has been shaped by seeing where others have failed, as well as recognising my own failures. One of the greatest tests of a chef is the ability to make a mistake, recover from it and avoid repeating it. Do I still make mistakes as a leader? Absolutely. But I make a conscious effort to acknowledge and correct them immediately.

As Executive Chef of Demind Group, how do you see your role beyond creating dishes? What is your larger vision for the teams, concepts and dining experiences you are building?

My role at Demind has always extended beyond creating dishes. I have had the privilege of helping to shape and develop the brands themselves. My director has consistently given me the freedom to create, experiment and, importantly, make mistakes and grow from them. My vision for the team is to help each person mature and develop their skills. I never expect my employees to remain with me forever, so I believe it is our responsibility to prepare them for successful careers beyond Demind.

With Bagatelle, OPA, La Niña and Myrra each having their own culinary personality, what is your overarching vision for the kind of dining experiences Demind Group should be known for?

Demind Group is known for creating top-tier dining experiences, but each of its concepts has a distinct identity. At La Niña, guests experience refined Spanish and Latin American cuisine in a beautiful, romantic setting. OPA offers a complete night out, combining vibrant party energy with excellent food. Casa Myrra is positioned as an upscale-casual concept, offering the quality and attention to detail associated with La Niña and OPA, but within a more relaxed atmosphere.

Each of these concepts draws from a distinct culinary culture, from French and Greek to Iberian Latino and Greek-Spanish influences. How do you approach reinterpretation without losing the authenticity that makes a cuisine recognisable?

I approach every brand in the same way: I study, I develop the flavour profile and then I create. It may sound simple, but the process can take months. Take OPA Dubai, our flagship concept, for example. Even today, we never allow ourselves to become complacent when developing new dishes. Around 70 per cent of the menu remains consistent, while the remaining 30 per cent is continuously evolving. We study market trends, but we also aspire to set them. I travel across Greece, discovering regional dishes and ingredients that are often overlooked, while continually searching for the finest products available. At Demind, we are always moving forward.

Rapid Fire Questions:

What is the most unexpected food combination you genuinely love?

I’m a big fan of ranch dressing, so I would have to say Bolognese with a generous dollop of ranch on top. The height of gourmet dining!

What’s the one dish you would happily cook for friends at home, and what’s the one dish you absolutely refuse to make outside the professional kitchen?

Tacos, any day of the week.

What is the one kitchen rule you refuse to compromise on?

Respect one another.

A dish I would refuse to make outside the kitchen?

That’s a difficult one, because I don’t find anything too challenging. I would gladly take on any culinary challenge in my home kitchen.

Every chef has a dish they secretly think they make better than anyone else. What’s yours?

Paella—for sure!

Hospitality

BUILDING THE WORKFORCE OF TOMORROW

Published

7 days ago

August 26, 2026

Integrator Web-Editor

Exclusive interview with Ravi Jethwani, CEO, Innovations Global

As the UAE enters the second half of 2026, how would you assess the current state of the job market? What key trends are shaping recruitment today?

The UAE job market remains fundamentally resilient, although it has become more selective. Regional uncertainty created some short-term caution among employers, particularly around the middle of the year, but this has not changed the underlying attractiveness of the UAE as a business and employment hub. Recruiters are already expecting hiring activity to strengthen as companies restart recruitment plans that were temporarily paused.

Despite recent regional uncertainties, hiring activity appears to be picking up. What factors are driving this renewed recruitment momentum?

The biggest driver is the UAE’s continued economic diversification. Businesses are investing across technology, financial services, healthcare, real estate, infrastructure, energy and professional services rather than relying on a single economic engine.

Dubai’s Q1 2026 GDP grew 2.4% year-on-year, with particularly strong performances in healthcare, construction, financial services and utilities.

There is also a significant amount of investment already committed to long-term projects. As business confidence improves, organisations that delayed hiring are likely to revisit those plans.

Dubai has become one of the world’s most attractive employment destinations. What do you believe has contributed to this transformation, and why does it continue to attract global talent?

Dubai has successfully created something that goes beyond simply being a place to work—it has become a global platform for business.

Its advantages include world-class infrastructure, connectivity, a highly international business environment, a relatively business-friendly regulatory framework and access to markets across the Middle East, Africa and Asia. Importantly, Dubai has continuously reinvented itself. It has moved from being primarily associated with trade and real estate to becoming a significant centre for finance, technology, logistics, tourism, healthcare, and professional services and innovation.

Which sectors are expected to lead hiring in the UAE during the second half of 2026, and what roles are currently in highest demand?

I would expect technology and AI, financial services, healthcare, energy and renewables, construction, real estate, logistics, professional services to remain among the strongest areas.

In terms of roles, demand is increasingly concentrated around AI and data professionals, technology specialists, cybersecurity, finance and investment professionals, sales and business development, healthcare specialist, engineering and specialized talent. The important point is that AI is creating demand not only for pure AI specialists, but for people who can combine AI capability with industry expertise

What advice would you give to professionals who are looking to advance their careers or secure new opportunities in the UAE?

My advice would be to be much more strategic about the job search. Don’t simply apply to hundreds of vacancies with the same CV. Understand the industry, identify companies that are expanding and tailor your profile to the requirements of those organisations. Networking is also extremely important in the UAE. Build relationships with recruiters, industry professionals and decision-makers rather than relying entirely on job portals.

Are there any emerging workplace trends—such as flexible work, upskilling, or digital transformation—that will significantly influence the future of work in the UAE?

First is AI enabled work. AI will increasingly become part of everyday workflows rather than a separate technology function.

Second is continuous upskilling. The half-life of skills is becoming shorter, so employers and employees will both have to invest in learning. Third is the evolution of flexible working. I don’t think the future will necessarily be completely remote or completely office-based. Instead, organisations will increasingly adopt hybrid models based on productivity, collaboration and the nature of the role. The UAE has an opportunity to become a leader in this new model because of its young, international and digitally sophisticated workforce.

Looking ahead, what is your outlook for the UAE job market over the next 12 months, and what opportunities do you foresee for employers and job seekers?

I am cautiously optimistic about the next 12 months. I expect recruitment to become progressively more active as businesses move beyond the uncertainty of the first half of 2026 and resume investment and expansion plans. The fundamentals remain strong: economic diversification, infrastructure investment, international capital, population growth and the UAE’s continued positioning as a global business hub.

However, I don’t expect every segment of the market to grow equally. The market will remain selective, and employers will continue to demand stronger productivity and specialised skills.

For employers, the opportunity is to access an increasingly sophisticated global talent pool. For professionals, the opportunity is to build careers in sectors that are expanding rapidly.

Ultimately, I believe the UAE job market is moving from a “jobs market” to a “skills market.” The winners over the next few years will be organisations that can attract and retain the right talent, and professionals who continuously upgrade their skills and demonstrate measurable value.