Hospitality & Tourism

hospitality

The surge in overseas tourism to the UK in 2017 has been boosted by North American visitors, sterling’s 30-year-low against the dollar proving irresistible. The results are remarkable against the backdrop of an uncertain corporate and consumer outlook, recent terrorist attacks, and high levels of new supply openings.

Al Sana Group expects a slower pace of growth in 2018 as the stimulus of the weak pound starts to weaken, and additional new supply kicks in. However, even if with continued global political volatility, an expected slowdown in UK economic growth and continued Brexit policy uncertainty, we still forecast reasonably strong growth in 2018.

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Al Sana Group has already carved out a substantial niche in the serviced apartment sector with our subsidiary, Citadel Apartments. Over the next three years we plan for Citadel Apartments to become one of the market leaders in the corporate hospitality sector.

Indeed, at the current rate of growth, Citadel Apartments will operate more than 100 apartments in central London by the end of 2019, providing corporate accommodation facilities in the very lucrative short-to-long-term serviced rental sector.

Al Sana Group also has plans to invest in the UK and international hotels sector, targeting underperforming assets with a view to installing new leadership and implementing new strategies to maximise returns.

The hotel industry is one of the fastest-growing economic sectors and offers excellent property investment opportunities for our customers.

The key is to add value to an asset. When Al Sana Group buys a hotel for example, we aim to employ top-notch management to ensure income grows robustly.

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