- The launch of ECHO enriches Stirling Hospitality Advisors’ asset management services as it continues witnessing a high demand from owners with both managed and franchised portfolios of hotels in the GCC and CIS regions, including UAE, Oman, Saudi Arabia, Georgia, Azerbaijan, Africa and beyond.
- With over 10 hotel assets currently under its belt, SHA is planning to double its’ asset-managed hotel portfolio within the ECHO system in the nearest year.
RAK, UAE –: Stirling Hospitality Advisors (SHA), one of the leading boutique advisory institutions in the region and the advisory arm of Ras Al Khaimah Hospitality Holding (RAKHH), announces the launch of the Excellence Centre for Hotel Operations (ECHO) within its’ Asset Management Division.
ECHO will amplify the abilities of an experienced hotel operator, serving as an interlink between hotel operators and owners across the GCC and CIS regions, aiming to help take hotel operations to the next level by offering comprehensive step-by-step guidance and recommendations for hotel operations and functioning. Expanding the services under its well-positioned asset management arm, SHA established ECHO to create a more holistic approach compared to the typical hotel asset management known currently. ECHO responds to today’s needs of mature and sophisticated hotel owners by providing in-depth advice on all disciplines from marketing, sales, and online reputation management, to financial monitoring, recruitment, technology use, daily operations and more, ensuring the hotel project’s success throughout its lifecycle.
Depending on the asset’s needs and current status, the expert team at SHA’s ECHO curates three tiers of ongoing asset management services; ranging from essential financial and commercial analysis as a means of financial oversight and guidance, to deep involvement in hotel operation, quality assurance, human capital management throughout the day-to-day growth of the asset, advising on short- and long-term investments, and offering technical service support.
Tatiana Veller, Managing Director of Stirling Hospitality Advisors said: “The hospitality industry in the Middle East is going through a transition; it’s graduating from simple saturation and overabundance to maturity. The competition in the market is getting fiercer and guests – are ever more discerning. We are confident that our new comprehensive approach to hospitality asset management with a dedicated centre such as ECHO will benefit and provide the highest value to our owners. Our aim is to be a reliable and experienced extended arm for the owner and a sounding board for the operator, aligning all fronts for the betterment of the hospitality asset.”
Headed up by Veller alongside a dedicated management team, ECHO bridges any gaps between the different stakeholders, playing a crucial role in ensuring the asset is consistently generating a high return on investment throughout its operating cycle. It will support in anticipating and managing risks and future-proofing the technical aspects, guaranteeing that the asset is in the best possible condition to lock a high property value in case of sale.
One of SHA’s longest-standing clients, Al Marjan Island’s CEO, Abullah AlAbdoulli, added: “Working with SHA’s expert team has been instrumental in developing the island into a world-renowned destination as part of RAK’s vision to become a hub for active and family tourism. Stirling Hospitality Advisors has supported us in overseeing a wide variety of hospitality assets on Al Marjan Island, and we are confident that ECHO will be a pillar for hotel operators and owners here to develop their assets, as we aim to attract over 20,000 hotel keys to the region in the next few years.”
SHA maintains a strong relationship with all major hotel groups in the GCC region and beyond, including but not limited to IHG, Accor, Marriott, and Hilton, to name a few, as well as sovereign wealth funds, high net-worth individuals, governmental entities, international private equity funds focused on real estate, and professional real estate developers. Over the past several years, SHA has participated in the pre-opening, opening and repositioning of over 10 hotel projects across its portfolio, showcasing its superlative industry experience in successfully transitioning hotels from concept development to operational and financial success.