Stirling Hospitality Advisors, one of the leading boutique advisory firms in the region, has been selected as the lead advisor to negotiate the hotel management agreement (HMA) between RAK Properties and Nikki Beach Hotels & Resorts.
The HMA signing ceremony took place at the InterContinental Ras Al Khaimah Resort and Spa with Sameh Al Muhtadi, CEO and James Marsh, Chief Development Officer of RAK Properties; Alexander Schneider, President and Jihad El Khoury, EMEA CEO of Nikki Beach Hotels as well as Tatiana Veller, Managing Director and Armaan Singh Nirh, Senior Asset Manager of Stirling Hospitality Advisors.
As lead advisor on the project, Stirling Hospitality Advisors successfully brought all parties together, streamlining the working relationship, and enabling both the owner and operator to coexist peacefully and profitably for the entire duration of the contract. The resort marks Nikki Beach’s first branded hotel in Ras Al Khaimah and is in line with RAK Properties’ broader master plan for Mina Al Arab.
Tatiana Veller, Managing Director of Stirling Hospitality Advisors said: “We are delighted to be advising RAK Properties with the HMA signed with the iconic 155-key resort Nikki Beach Hotels & Resorts. Our expert team of advisors ensured that the right protections and safeguards were incorporated, resulting in the execution of a fair HMA, with the required level of owner approvals in place. Ras Al Khaimah continues to witness great development and interest from international investors, and we look forward to seeing the emirate flourish into a leading luxury lifestyle destination for residents and tourists alike.”
The five-star lifestyle beachfront resort will be set against the spectacular views of the Arabian Peninsula. Located on Hayat Island in Mina Al Arab, Nikki Beach Resort & Spa will provide guests with an array of refined dining venues as well as state-of-the-art amenities and facilities, and pools.
As RAK rises as a premium lifestyle destination, the new generation of travelers seek luxury that redefines travel standards, offering unique, personalised experiences in leisure and wellness. Headquartered in RAK, Stirling Hospitality Advisors currently asset manages over 3,500 hotel rooms in three countries, and is responsible for a hotel and resort portfolio valued at over USD 1.25 billion.
