Monday 22 April 2024

GuestReady records 220% growth in UAE during 2022

DUBAI, February 2, 2023

GuestReady, the leading global hospitality & property technology company, said that it recorded a 220% year-on-year (YoY) sales growth in the UAE in 2022, compared to 42% globally.

The firm’s UAE office is among the top three offices leading the company’s global growth for 2022, it added, adding that its UAE presence also saw a 155% growth in properties under management, compared to 49% globally, with now over 400 properties under management within Dubai.

According to GuestReady’s Regional Managing Director Reem Alkhatib, the growth is the  combined result of the company’s approach and technology, an increasingly strong regulatory framework and positive market outlook.

“At GuestReady, we combine global best-practice, technology and local expertise with a guest-centric approach that sees the properties under our management, and the experience of our guests, rival those at any luxury hotel. This approach has, and will continue to help us capitalize on an increasingly favourable regulatory framework and strong inbound travel growth projections from across the region,” said Alkhatib.

According to the United Nations World Travel Organisation, inbound tourism in the Middle East had the strongest relative increase in 2022 at 83% of pre-pandemic levels. That growth expected to continue to grow to pre-pandemic levels throughout 2023 .  

Alongside, and perhaps encouraging these strong inbound travel results and giving confidence to stronger predictions in 2023 have been a series of announcements and initiatives that have boosted the short-term rental ecosystem. Among them is Dubai’s Digital Nomad Visa , introduced in 2021 as well as Dubai being named the third best city globally for digital nomads in 2022.

Further boosting the growing segment of travelers, Airbnb also teamed up with Dubai’s Department of Economy and Tourism (DET) in late 2022 to announce the launch of the Dubai remote working hub, a one-stop-shop for aspiring remote workers.  Dubai Business Events, a part of DET, also announced in early 2023 that it is expecting over 135,000 business event travelers in the coming years.   

AlKhatib said that GuestReady’s growth and that of the short-term ecosystem as a whole is benefiting both property owners as well as travelers who are looking for increasingly flexible and convenient accommodation: “In 2022, Dubai was named the world’s most profitable city for AirBnB landlords  and while we have seen owners of the properties we manage achieve strong returns, it is also true that the city offers immense value for money when it comes to short-term rental homes for leisure and business travelers.”

“The accommodation available and overall experience of a destination are crucial for today’s short-term rental guests and along with a beautiful array of properties across Dubai, our technology, which includes virtual guides and access to a guest experience team, allows those staying in GuestReady managed properties to fully enjoy all that the city has to offer,” added Alkhatib.

Bluewater Island the most popular short-term rental area in Dubai
According to GuestReady, the locations most popular for short-term renters in Dubai is vibrant lifestyle destination Bluewater Island, followed by the iconic Palm Jumeirah, which in recent years has seen a renaissance with an array of new dining and entertainment experiences.

The third most popular neighbourhood, according to GuestReady is CityWalk Dubai, followed by Jumeirah Beach Residences and Dubai Marina. Rounding out the top five is Downtown Dubai which remains a popular destination for both leisure and business travelers thanks to its proximity to DIFC and the World Trade Center as well as key attractions like Dubai Mall.

GuestReady poised for continued growth
Supporting GuestReady’s growth in 2022 and ensuring that the company is ready for continued growth in 2023,  the UAE office grew 429% in 2022.
“With deep roots in the region, GuestReady is poised for another year of exceptional growth in the region through offering exceptional value for our owners and exceptional experiences for our guests,” said AlKhatib.

With presence in over 30 global cities, GuestReady has been adding value to both property owners and short-term renters since 2016  allowing both guests and owners to make the most of every stay. – TradeArabia News Service


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