During the Saudi Arabia Hotel Investment Conference (SHIC) in Riyadh, Shaza Hotels’ vice president – development, Chris Nader, informed a large audience of hotel owners and investors of the hotel group’s ‘Mysk by Shaza’ brand.
“Mysk by Shaza has been designed to provide a distinct guest experience combined with a compelling investment proposition to owners,” he said. “A significantly lower cost of development per key than expected for such a quality upscale hotel, better back of house efficiencies, reduced staff to key ratio and stronger ADR (Average Daily Rate) versus the competition allow us to deliver a strong return on investment.”
Nader explained that Saudi Arabia is a priority market for Shaza Hotels, with 35 per cent of its portfolio located in the country.
“SHIC is an excellent platform to showcase our latest brand offering to hotel owners and investors. We have operated in the Kingdom with great success since the launch of our first five-star property Shaza Al Madina and thereafter expanded to Makkah, Riyadh, and will soon be open in Jeddah,” he noted.
Due to the increasing investment in Saudi Arabia’s tourism sector, the demand for hotels is ever increasing.
Nader remarked: “The upscale segment is one of the fastest growing sectors in the KSA and represents a massive opportunity for us that we are eager to capitalise on. As the leading alcohol-free brand in the luxury and upscale segment that proudly celebrates the Arabian hospitality, we are well placed to unlock the enormous potential for growth in Saudi Arabia while accelerating expansion in primary and secondary cities.”
Mysk by Shaza has numerous properties in the pipeline that are due to open in the UAE and Kuwait. The brand’s flagship hotel, Mysk Al Mouj in Oman, has been deemed a great success.
Shaza Hotels’ Mysk brand was voted the winner of The Three Minute Pitch out of 16 leading brands that participated in the session open for owners and investors only.