Shaza Hotels recently announced the signing of its third Mysk project in the Middle East, Mysk by Shaza, which will find its home in the city’s famous and prestigious Palm Jumeirah. The announcement follows the signing of Mysk Kuwait and the official opening of Mysk Al Mouj in Muscat. This hotel marks a new milestone for Shaza with the entry of the Group into the ever-growing Dubai market that has one of the best performing hospitality sectors in the world. The hotel aims to add a new flavor to the Dubai hotel scene, bringing an intimate and personalized experience for both the corporate market and the leisure market wishing to reside on the landmark Palm Jumeirah. Commenting on the project, Simon Coombs, the President and CEO of Shaza Hotels answered foodHQ’s questions.
foodHQ: How important is the location in relation to your hotel’s success? And with that being said what does this hotel have to offer as a new entry in this competitive hospitality sector?
Location plays an important role in the rate positioning of a hotel, which has a direct impact on the performance of the property and therefore the return that you can generate for the owner. Whenever we assess a hotel project, we conduct our own return on investment analysis to understand the maximum supportable investment of a project, and we run this against the owner’s third-party feasibility study. This allows us to anticipate the investor’s expectations and align objectives from the very beginning in order to avoid potential disappointments. Our latest signing marks our entry into the Dubai market, and more particularly into the top performing market of Palm Jumeirah. Mysk The Palm will benefit from the inherant higher rate capacity of Palm Jumeirah in comparison to other sub-markets such as Barsha Heights, JLT or Dubai Marina, whilst being uniquely positioned in the upscale segment. Whilst most hotels on The Palm are positioned in the luxury segment, very few hotels are catering to the more price-sensitive guests who wish to stay on this landmark development but at a more affordable rate without compromising on quality and standards. Our hotel will be positioned in that sphere.
foodHQ: How would you define this project, or hotel in particular? What’s the message you would like to convey to the guests staying at the hotel?
The hotel will have a very intimate feel to it, allowing us to provide a very personalized and attentive service to our 180 rooms. It is a very different proposition to the beautiful large resorts on The Palm. And unlike these resorts, we are designing the facilities to cater primarily to the corporate market who we believe will enjoy staying in a leisure-oriented location while being in close proximity to business hubs such as Media City and JLT. We want our guests to say “I did not expect such a hotel in this location”. We hope to bring a boutique-like experience in a place where guests expect it the least.
foodHQ: What kind of challenges might you face all the way from construction to execution?
We always remind owners of how critical the selection of their project specialists is for the smooth construction of the hotel. Mysk by Shaza has a very specific identity and we are very particular about the type of design that we want and we pay a lot of attention to details. To create a hotel with a strong personality, you need a talented team of architects and interior designers who shares your vision, understands the industry, and is passionate about delivering a unique product. The concept we have created for Mysk The Palm is very unusual for an upscale hotel in Dubai, and we are very eager to start designing the rooms and facilities. Having a clear vision, structured coordination with the project specialists, disciplined milestones, and regular and transparent communication with the owner are fundamental elements we always aim to establish. Without this, the path from concept to realization becomes prolonged and inefficient, ultimately to the detriment of project investment returns.
foodHQ: What are your expectations from this project development?
Mysk was launched in 2016 and is being very well received by the industry. We have opened our first Mysk a few months ago in Muscat, have signed another hotel in Kuwait, and with the signing of Mysk The Palm, we hope that this project will give us great visibility in the UAE which will hopefully lead to more hotels being signed in Dubai and the other Emirates.