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HSP Transact in Dubai

Rodolphe Belin of HSP’s recently launched acquisitions wing, HSP Transact, has recently returned from site visits in Dubai.

HSP are advising their client on the best forward strategy for a 230-room hotel development in Downtown Dubai following a downturn in local market conditions over the last 5 years.

Average Occupancy Rate dropped to 75.4% last year from 80.1% in 2013 and as the the market is flooded with the addition of 32,000 new rooms for completion by the Expo 2020, the numbers for 2019 will show a further drop.

In this competitive and challenging environment, positioning any new property on the right market segment is critical to ensure a reasonable financial return and sustainability to guarantee the financial viability of such investment.

On a separate project, HSP Transact is assessing the benefits of converting a recently completed residential tower into quality mid-market international serviced apartments.

With the recognised over-supply in Dubai of new dwellings, HSP is assessing whether converting this 26 storey building to serviced apartments will deliver a stronger profitability to its owner. 

Source: https://hotelsolutionspartnership.com/hsp-transact-in-dubai/

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