Gallery Suites Vacation Rentals has joined forces with Oyo Hotels & Homes to furnish and manage a portfolio of 10,000 elite properties in Dubai.
The agreement will result in a portfolio of premier and uniquely furnished holiday homes, to address the growing demand for exceptional short-term rental experiences in the city.
The properties being furnished and managed by the partnership are focused in high demand areas including the Dubai Marina, Palm Jumeirah and other exclusive addresses in the city.
During the upcoming Expo 2020 event, Dubai is expected to host 25 million visitors from all across the world.
A significant section of these arrivals will be cosmopolitan and sophisticated travellers who value refined and cultivated experiences.
This partnership between Gallery Suites and Oyo seeks to present this segment with singular accommodation options that enchant and delight.
Gallery Suites Vacation Rentals is part of the highly regarded IBC Group, which is backed by global banking and finance leader Khurram Shroff.
The company will bring its comprehensive understanding of the select and exclusive segment of the Dubai short term rental market to the table.
As part of the deal, the IBC Group will retain ownership of the properties, leasing them to Gallery Suites to furnish and operate under permits issued to it.
In turn, Oyo Hotels & Homes would be responsible for operating these properties by bringing in its hospitality expertise, housekeeping skills and hassle-free check-in and check-out facilities while ensuring a high-quality experience for the discerning guests looking for unique experiences.
While the approach of the Expo 2020 event is occupying considerable attention within the hospitality sector, the concerted effort to diversify Dubai’s economy will generate a sustained demand over the long-term as well.
The Dubai administration’s active patronage of innovative technologies and start-ups, its infrastructure development initiatives, and the easing of regulatory barriers are integrating the city with the global economy to an unprecedented extent.
The emergence of Dubai as a globally acknowledged hub for trade, logistics, tourism and finance is set to define the city’s economic course in the coming years.
According to Pranav Mehta, country head, Oyo UAE, the venture is an opportunity for Oyo and Gallery Suites to grow together.
“We at OYO, are keen to deliver quality experience to travellers coming to UAE and this partnership with the IBC Group is a step forward in this direction.
“The unique approach that The IBC Group and Gallery Suites are taking in furnishing this portfolio of properties, as well as the scale of the venture, represents an exciting possibility for collaboration between our two companies,” Pranav explained.