Is Dubai’s Hotel Market the Untapped Investment You’re Missing?

Join Carl as he explores the fascinating world of hotel investment with Elie Milky, Chief Development Officer at Radisson Hotel Group.

They unpack the strategic side of hotel development across Dubai and the UAE, diving into how Radisson partners with investors, builds long-term strategies, and navigates both the challenges and opportunities in the hospitality investment space.

Carl uncovers why Radisson Hotel Group doesn’t actually own any of their hotels and why there’s still plenty of room in Dubai for them to double their portfolio! If you’re an investor looking to diversify your portfolio, or simply curious about how hotel investment really works, this episode is for you!

A Glimpse into the Role of Chief Development Officer

Carl then starts the conversation into Elie's pivotal role at Radisson Hotel Group. As Chief Development Officer, Elie's responsibilities stretch across the Middle East, Northeast Africa, including Pakistan, Cyprus, and Greece. His work involves identifying investment opportunities, nurturing investor relationships, and ensuring the growth of Radisson's portfolio in these diverse regions. Elie elaborated on the rigorous strategies that guide their market focuses and how they aim to open numerous hotels annually.

Focusing on Geographic Potential

The discussion delved into the criteria for determining high growth markets. Elie spoke about the historical significance of the UAE as a regional hub and its evolution into a global nucleus for business and tourism.

His insights into Saudi Arabia's emerging potential, Egypt's expansive developments, and Greece's post-crisis investment influx showcased the strategic foresight driving Radisson's decisions. The narrative provided a detailed peek into how Radisson adapts to shifting market dynamics and cultural nuances.

The Intricacies of Hotel Deal Making

Navigating through the complexities of deal making, Elie emphasised how Radisson's approach is tailored depending on whether they are managing, franchising, or leasing hotels. The conversation covered how investor relationships are cultivated and the pivotal role of networking in uncovering new opportunities. The team’s proactive stance toward market adaptation and growth can serve as a fascinating case study for anyone interested in real estate development.

Challenges and Opportunities Across Regions

Later, the focus shifted to broader regional opportunities, especially within the UAE and emerging markets like Saudi Arabia and Ras Al Khaimah. Despite the challenges, Elie remains optimistic about Ras Al Khaimah’s potential, noting its visionary leadership and the expected boom in investment related to the introduction of responsible gaming and entertainment sectors.

Navigating the Global Hotel Landscape

Elie’s insights about hotel metrics, and the intricacies of decision making concerning investor relations, highlighted the importance of understanding the hospitality industry’s unique criteria and the long-term nature of hotel investments. The value of patience and the potential for significant returns over time is a recurrent theme, offering a holistic comprehension of managing hospitality assets effectively.

What’s to Come for Hospitality Investment

The podcast wrapped up with a look towards future possibilities, encouraging listeners who are interested in exploring hotel investments or development to reach out. Elie’s candid sharing provided a testament to the rich, multifaceted tapestry of the hospitality industry and the strategic thinking that fuels its expansion.

For the full Taking Care Of Business podcast episode head to our YouTube channel