UAE: Dubai-based hospitality startup Stella Stays, which manages properties for short-, medium- and long-term stays, is targeting further growth in 2022 by expanding into Abu Dhabi.
Stella Stays is aiming to open more than 100 holiday home units in the capital of the United Arab Emirates [UAE] within the next 12 months.
The expansion is a strategic move by the company after the imposing of updated holiday home regulations in November.
All holiday home operators in Abu Dhabi are now obliged to register their units on a new online system launched by the Department of Culture and Tourism, as part of a regulatory crackdown by the Executive Council of the Emirate of Abu Dhabi. It comes in response to heightened demand for accommodation alternatives to hotels in the city.
Stella Stays will cater to both leisure and business travellers with its new offering, as well as new residents of Abu Dhabi seeking long-term stays, complementing its existing 300-plus unit portfolio in Dubai, Manama [Bahrain] and Montreal.
The company announced its expansion into Bahrain in September as it bids to become a viable rival to Airbnb in the Middle East.
CEO and co-founder, Mohannad Zikra, said: “We are excited to expand into the UAE’s capital, where business and tourism are tremendously growing.
“There is no doubt that we are in a period of innovation when it comes to residential living. Long-term renters are now looking for flexible and hassle-free living arrangements, while new residents are seeking furnished rentals before moving to something more permanent.
“Over the last two years, we have also seen a massive shift towards remote working, a trend that only continues to grow. Our properties offer a dynamic environment intentionally built to complement the hybrid way of working we are seeing in 2022,” he added.
Zikra will be participating in the first webinar of ShortTermRentalz’ fifth RockSTRz series, when it returns on Tuesday 24 February 2022 [4pm GMT] with a session on “Defining the new era of luxury”. Click here to sign up for the no-cost webinar.