UAE: With the rise of Dubai as a luxury tourist hub, high end holiday rental company Dream Inn looks to expand.
The company has seen a 25 per-cent increase in its property portfolio already, with a growth projection of 39 per-cent by 2021, according to Zawya.
The UAE has been introducing a series of measures to improve tourism prospects, namely the introduction of five-year visas, as well as Expo 2020 hosted in Dubai. These two maneuvers have been named by Dream Inn as some core reasons why business has been rising as of recent.
Dream Inn was one of the first Dubai companies to capitalize on the potential of short-term-letting in the luxurious city, rapidly acquiring Dubai property and advertising it on its own site, as well as platforms like Airbnb and Booking.com. Its growth is predicated on the ability to fuse the comforts of home living with the luxury services of a hotel.
The company recently acquired 40 properties in Dubai across a variety of prime locations, ranging from apartments to five-bed penthouses in size.
These properties feature a slew of amenities, such as coffeemakers, laundry and catering, as well as a “guest experience maker” on call to provide personalized concierge services for each guest’s stay.
Dream Inn CEO Steve Benchimol said: “We wanted to take advantage of the amazing opportunities that comes with being a Dubai hospitality business, and the continued increase in tourism to this great city, which is being bolstered by an exciting 2020 calendar, including the EXPO. The introduction of a five-year multi-entry visa for tourists will prove a major boost and will have a big impact on our offering.”
Dubai has been a massive expansion site for short term rental agencies, with Hostmaker starting operations there in November, and property unicorn OYO operating luxury suites there as well.
With the city’s tourism mechanisms continuing to open, expect more growth for the city in the short-term-rental space
