RCS - Qstay Hospitality - Qstay Expands to Ras Al Khaimah, London, Riyadh

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12/04/2023 19:00

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RNS Number : 0300W  Qstay Hospitality Technologies  12 April 2023

Dubai Hospitality Platform Qstay Expands to Ras Al Khaimah, London, and Riyadh

DUBAI, ARAB EMIRATES / ACCESSWIRE / April 12, 2023 / 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.

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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.

Contact Information

Artur Khayrullin

CEO
artur@qstay.ae (mailto:artur@qstay.ae)

+971521296590

SOURCE: Qstay Hospitality Technologies

 

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