Dubai Hospitality Platform Qstay Expands to Ras Al Khaimah, London, and Riyadh
DUBAI, Arab Emirates, April 12, 2023 (Newswire.com) - Dubai DIFC-based Qstay Hospitality Technologies, a next-generation hospitality company that is transforming the guest experience through technology and design, announced today that it is launching its first 30 properties in the emirate of Ras al Khaimah this month. In addition, the company plans to scale its model to London starting this summer, with plans to launch properties by autumn. Qstay is also planning to expand to Riyadh and the Emirates of Fujairah and Abu Dhabi later this year.
Since its founding, Qstay has been on a mission to redefine the hospitality industry through modern, technology-powered service and inspiring, thoughtfully designed accommodations, combined into one seamlessly managed experience. The company operates over 250 properties, with 200 more signed and expects to have 450 revenue-generating units by the end of 2023. Qstay had raised $6.5 million in seed funding and is currently closing $8.5 million pre-Series A round.
Qstay plans to capitalize on opportunities within the growing $800+ billion global lodging market and strengthen its position as a differentiated, rapidly growing innovator in the hospitality industry. The company's business model focuses on providing luxury hotel-like services and amenities, such as bathrobes, slippers, luxury toiletries, bathroom amenities, tea, Starbucks coffee, and digital app-based access to external facilities such as nearby pools, private beaches, gyms, and spas.
Qstay is developing a differentiated, AI-powered tech-driven platform that will provide digital concierge and customer support, seamless booking, digital check-in, keyless entry, app-based access to hotels and resorts' facilities with private beaches and pools, business centers, spas, and gyms. The company's platform also includes a unified system for maintenance and service, which employs smart HVAC equipment and sensors.
"Our expansion to Ras al Khaimah, London, and Riyadh marks an important milestone for Qstay and reflects our commitment to transforming the hospitality industry through technology and design," said Artur Khayrullin, co-founder of Qstay. "We are excited to bring our unique approach to hospitality to new markets and to provide guests with an exceptional experience that combines luxury amenities and innovative technology," added Alec Fesenko, co-founder.
Qstay's competitors include companies like Blueground and Sonder. However, Qstay's differentiated approach has allowed the company to achieve higher ratings on Airbnb and Booking.com than its competitors, resulting in an exceptional occupancy rate of over 80% and an outstanding Revenue per Available Room (RevPAR) of $191, which is well above that of its competitors. The company's revenue is growing at a rate of over 100% YoY, and it had a positive net income in Q4 2022 and Q1 2023.
As Qstay expands its operations to new markets, the company remains committed to delivering an exceptional guest experience through its technology-powered service and inspiring, thoughtfully designed accommodations.
Source: Qstay Hospitality Technologies
