Luxury Explorers has properties like Villa Botanica in the exclusive Emirates Hills, often called the Beverly Hills of the UAE.
Collection of luxury researchers
DUBAI, United Arab Emirates – In the Middle East, a new breed of high-end holiday rental companies are struggling to meet the needs of today’s traveler – who has many different preferences after the pandemic.
The global holiday rental market – valued at $ 22.7 billion in 2020 – will exceed a whopping $ 111.2 billion by 2030, according to a study by Precedence Research late last year. The study shows a trend of “revenge tourism”, with millennials and younger generations stimulating growth in the first few years after the coronavirus pandemic.
According to analysts, this is mainly due to the growing awareness among passengers about the extra space and comfort offered by holiday rentals, not to mention, in some extreme cases, “extras” such as high-tech gyms, private cinema screens, smart appliances and services. of personal companions, housekeepers and even cooks.
One company that wants to profit from this is the Dubai-based travel agency Luxury Explorers. During the pandemic, the company saw where the wind was blowing and made the leap into the first-class holiday home business, creating the Luxury Explorers’ collection in mid-2020.
The company owns properties such as Villa Botanica in the exclusive Emirates Hills, often referred to as the “Beverly Hills” of the UAE. Luxury Explorers’ Collection CEO Mohamed Sultan told CNBC: “The idea really started in 2018 when we learned that some of our VIP clients working with our agency want to spend their holidays in luxury holiday homes and villas when travel the world.
“At that time, Dubai did not have the level of first-class holiday rentals that these clients experienced in the South of France, Italy and Los Angeles – areas that are well developed in terms of short-term rental.”
“Then we decided to focus on the pioneering evolution of the local market by offering high-end properties that are not only visually stunning, but at the same time rich in exclusive benefits and personalized concierge services.”
He overcame the pandemic storm
The company is a remarkable success story of the UAE. It has 20 properties in Dubai – mostly large villas in prime locations or luxury apartments in iconic buildings such as the towering Burj Khalifa – and is expanding rapidly with five properties to open in Mecca in Saudi Arabia and one in Abu Dhabi. His wealthy clients include many rich, famous people, sports personalities and politicians.
Meanwhile, rental company Maison Privee has gained recognition in the Middle East with its portfolio of luxury villas, penthouses and apartments. Deluxe Holiday Homes in Dubai also saw a 150% increase in its real estate portfolio last year, despite a pandemic travel lull, and short-term rental operator Kennedy Towers is talking about solid demand in the region.
Globally, rental housing has fared better than hotels during the pandemic, according to a joint 2020 study by research firm STR and AirDNA.
The study covered 27 international markets and found that while demand for both hotels and short-term rents has been strongly affected by the health crisis, rents are coping better with the pandemic, mainly due to preferences for larger living spaces, full-scale amenities from services and the need for social distancing.
Leading holiday home companies confirm that they have indeed seen consistently high employment since the beginning of the pandemic. “We are on average 92% of our creation in August 2020,” Harrison Moore, managing director of Key View Vacation Homes Rental in Dubai, told CNBC.
He added: “So far in 2022 we are witnessing an annual increase of 33% in our average daily allowance. One of the main drivers for this is Dubai as one of the leading innovators when it comes to security protocols related to Covid19. “
Enter hotel brands
Not surprisingly, major hotel brands have joined the game of holiday rentals. One such initiative is the Marriott rental service, called Homes & Villas by Marriott International, which now boasts rental accommodation in over 100 destinations.
Marriott’s expansion in this area began after its pilot rental housing project of 2018, called Tribute Portfolio Homes, revealed that the average stay of guests is more than three times higher than that of a typical hotel stay.
On the more budget side of things, Airbnb has also been doing a lively business in the Middle East for several years, with some Insta-ready rental homes. They include everything from an ancient riad in Marrakech – with a courtyard with an emerald green pool – to a traditional wooden hut in the mythical mountains of Lebanon.
Add Comment