‘Mysk by Shaza’ Win the Pitch Among Top New Brands at the Saudi Arabia Hotel Investment Conference
Chris Nader, Vice President – Development, Shaza Hotels, made a special presentation to a large audience of hotel owners and investors about ‘Mysk by Shaza’ at the Saudi Arabia Hotel Investment Conference (SHIC) in Riyadh. Mysk was voted the winner of The Three Minute Pitch out of the 16 leading brands that participated in the session open for owners and investors only.
Emphasising on the brand’s unique personality inspired by the Arabian lifestyle, Chris said, “Mysk by Shaza has been designed to provide a distinct guest experience combined with a compelling investment proposition to owners. 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.”
Speaking about expansion in KSA, Chris stated, “Saudi Arabia is a priority market for us with 35 per cent of our portfolio located in the country and 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 5-star property Shaza Al Madina and thereafter expanded to Makkah, Riyadh and will soon be open in Jeddah.”
The recent reforms and widespread investment in Saudi Arabia’s tourism’s sector are driving demand for a new generation of hotels and Mysk by Shaza is ideally suited for the market given its innovative concept and compelling brand proposition.
Chris stressed, “The upscale segment is one of the fastest growing sectors in 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.”
A member of the Global Hotel Alliance, Mysk by Shaza has a strong development pipeline with fabulous hotels coming up in the UAE and Kuwait in addition to its hugely successful flagship hotel Mysk Al Mouj in Oman.