Ras Al Khaimah, UAE, 17 October 2016 – RAK National Hotels (“RAKNH”), a subsidiary of RAK Hospitality Holding (“RAKHH”), an owner of hotels and resorts in Ras Al Khaimah, together with Al Hamra Real Estate Development (“AHRED”), today announced that they signed an agreement with The Ritz-Carlton Hotel Company, a world leader in luxury hotels and resorts to open their doors to guests Ras Al Khaimah.
Until 14 December 2016, the two properties, the desert and the beach, will continue to be operated by Banyan Tree Hotels and Resorts. The transition to Ritz-Carlton management for the two properties will start on 15 December 2016:
Commenting on the agreement, Yannis Anagnostakis, Chief Executive Officer of RAKHH, said: “We are very excited to welcome the Ritz-Carlton Hotel Company, and to place our trust with the management of our flagship Al Wadi Desert property. We are confident that the experience of this world leading luxury operator, combined with their deep knowledge of the region, makes them an excellent partner to manage Ras Al Khaimah’s hospitality “crown jewels”. We continuously seek the right opportunities to enhance and expand our portfolio across Ras Al Khaimah, aligning ourselves with the ever-evolving customer expectations, and repositioning our assets throughout their life cycle. We believe that Ritz-Carlton will be transformational to the Emirate’s luxury offerings.”
Benoy Kurien, General Manager at AHRED, said: “Whilst all of Al Hamra Real Estate Development’s assets are iconic and are in line with the Emirate’s growth ambitions, the Ritz will be a distinctive partner in terms of what it will bring to Ras Al Khaimah from an overall brand perspective and an international luxury hospitality experience. We look forward to bringing a great resort to Ras Al Khaimah that will add value to our guests and will complement the growth of our assets.”
Alex Kyriakidis, President and Managing Director, Middle East & Africa at Marriott International said: “We are pleased that we were selected as a trusted operator to manage these two strategic properties and we are excited to expand our relationship with the owners, AHRED and RAKHH in another spectacular destination in the UAE. Ras Al Khaimah is important for our growth and we are fortunate to have partners who share our vision. We look forward to offering exclusivity and luxury to our guests in Ras Al Khaimah and to helping the owners achieve their objectives.”
Demand on Ras Al Khaimah’s hospitality offerings is increasing significantly. There is a surge in domestic and international interest as a multi-purpose destination and as the emirate continues to grow. According to RAKTDA, Ras al Khaimah’s hotels reported an increase in RevPar by 7.6% year-on-year between January and July 2016, and an increase of 15% in the average hotel occupancy rate to 70% – demonstrating one of the highest growth rates across the GCC.
RAK National Hotels LLC is a subsidiary of RAK Hospitality Holding. Formed in 2013, it owns hotels and resorts ranging from upscale to luxury in urban, desert and beach locations in the Emirate of Ras Al Khaimah. The existing portfolio includes: the Hilton Ras Al Khaimah, at the Creek, the Hilton Resort and Spa Ras Al Khaimah at Maaridh Beach, the Rixos Bab Al Bahr Ultra All Inclusive Resort on Marjan Island and the ultra-luxurious Banyan Tree Al Wadi Desert Resort & Spa. RAK National Hotels’ current portfolio features a total of 1,466 hotel rooms, suites, chalets and private pool villas that make up approximately 28% of the Emirate’s total hotel inventory currently in operation.
For more information on RAK National Hotels, visit www.rakhospitalityholding.comAbout RAK Hospitality Holding (“RAKHH”)
Established in 2014 by the government of Ras Al Khaimah, RAK Hospitality Holding LLC was formed with a mandate to consolidate, asset manage, operate and develop a diverse portfolio of hotels, logistics, restaurants and leisure assets. RAK Hospitality Holding oversees the operations of subsidiaries that comprise the entire value chain of the group. In addition to RAK National Hotels LLC, which owns and manages hotels and resorts in Ras Al Khaimah, its subsidiaries include RAK Hospitality Asset Management, which provides hospitality asset management, development and advisory services; RAK Hospitality Logistics LLC, which provides logistics services to Ras Al Khaimah’s hospitality sector; and Hakaya Collection LLC, which is the group’s hospitality operating arm with its sole focus on dining and leisure venues.
RAK Hospitality Holding is deeply rooted in the Emirate of Ras Al Khaimah and as a leading sector focused hospitality organization, aims to complement the Emirate’s ambitious growth plans. For more information on RAK Hospitality Holding, visit www.rakhospitalityholding.comAbout Al Hamra Real Estate Development (“AHRED”)
Al Hamra Real Estate Development is a leading real estate developer in the Middle East. It has established itself as a significant and dynamic master developer in the UAE with world class iconic destinations such as Al Hamra Village, an integrated mixed-used community, located in Ras Al Khaimah on the shores of the Arabian Gulf, just 45 minutes from Dubai and only 20 minutes from Ras Al Khaimah International Airport, Falcon Island, an exclusive residential island surrounded by pristine beaches and Al Hamra Golf Course, an 18-hole championship course with a 9-hole floodlit Academy course, that will be the host venue to the European Challenge Tour 2016 in Ras Al Khaimah. AHRED has won 16 prestigious international awards in the last three years, including 13 International Property Awards, a symbol of excellence throughout the global real estate industry.
Media Contacts:FTI Consulting for RAK Hospitality Holding and RAK National Hotels:
+971 50 828 3532
Al Hamra Real Estate Development:
+971 56 445 5869