NEWS STORIES FEATURES VIDEOS
Editorial comment
19•08•19 Welcome to the latest Short Term Rentalz weekly newsletter!
• Opportunities for growth and investment in hospitality and real estate are on the rise in Dubai, as illustrated by this week's news of IBC Group's intentions to purchase 10,000 properties in the city and Maison Privee signing a $100m villa portfolio.
In the first case, The IBC Group, which has operated in the UAE since 2014, has contracted Berkshire Hathaway HomeServices Gulf Properties (BHHS) on an exclusive basis to play an advisory brokerage role to assist in identifying, acquiring and financing properties for its offering of vacation rentals.
The deal is valued at $5 billion, with a potential scale up to acquiring one million properties in 100+ cities worldwide, and finance leader Khurram Shroff hopes the BHHS partnership will allow IBC to grow its influencer status in the gulf, enhance confidence in the Middle East's burgeoning rental industry and raise the standards of services and facilities in the market.
Meanwhile, vacation rental provider for the luxury hospitality sector, Maison Privee, has signed a deal to manage a portfolio of signature villas on Palm Jumeirah, valued at over US$100m.
Following a $4m Series A funding round last year, the deal maintains the company's rapid expansion, having acquired the portfolio through a preferred partner relationship with the region's top luxury real estate firm Gulf Sotheby's International Realty and its exclusive clientele.
Co-founders Rami Shamaa and Paul Mallee believe the alliance strengthens Maison Privee's position as the largest operator of short-term rentals on the Palm and of luxury properties in the UAE, as confirmed by its recent shortlisting for awards at the Gulf Capital SME Awards 2019.
Not only do the news headlines time well with the upcoming Dubai Expo next year, but they coincide with next month's holding of the 2019 Serviced Apartment Summit Middle East and Africa [SASMEA] on 16 September.
The event, which is being organised by IHM at EMAAR's Rove Dubai Marina and co-working space letswork, is the only b2b conference in the MEA region for the serviced apartment, branded residence, aparthotel, corporate accommodation and short-term rental sectors. It also coincides with the start of Middle East Design and Hospitality Week, reflecting the evolution of a vibrant market.
Speakers at the event include Airbnb's Robin Clifford, Maison Privee's Paul Mallee and Colliers International's Christopher Lund, who spoke on the Dubai Eye Business Breakfast podcast on 18 August about his short-term rental megatrend and future of the tourism industry in Dubai. Listen to the interview at the link here.
For a taster of what to expect at SASMEA, view this vox pop video from two years ago, while tickets for this year's event are still available to purchase on the event website at the link here.
Finally, let me congratulate Chelsey Hulbert and Zoe Guerrier who are joining IHM on the operations and sales team, while I've received a handy promotion to the news editor of ShortTermRentalz.
If you have a story you want us to tell the industry, please click here and get involved with the community by commenting on our news stories on our website.
Paul Stevens, news editor
UPCOMING EVENTS
International Hospitality Media is the premier specialist in online publishing; conference, exhibition and events, and advisory services for niche growth sectors of the hospitality industry. The company publishes three industry-leading b2b websites - BoutiqueHotelNews.com and ServicedApartmentNews.com and ShortTermRentalz.com which keep their respective sectors up to speed with news, comment and opinion.
Our conference experience spans four continents and covers high growth segments including boutique, lifestyle and hybrid hotels, serviced apartments / aparthotels and extended stay, and vacation rental. Our events are renowned for their intense focus and attract quality industry leaders, brands and independents, providing unparalleled networking and learning opportunities. We also organise bespoke educational events and investor breakfasts to bring owners, operators and investors together. 'Providing an inspirational community to connect people through world class online platforms and events' © 2019 International Hospitality Media. All Rights Reserved.
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