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Asas Capital and Stay Well’s Hospitality tie up

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Australia’s largest privately owned hotel management company StayWell Hospitality Group (SWHG) today announced the signing of a management agreement to open and operate the company’s first Park Regisproperties in Makkah Saudi Arabia.

Expected to open in the second quarter of 2018, the remarkable two hotels boast 286 and 344 guest rooms respectively (630 rooms in total). This Park Regis development will be one of the latest openings for the fast growing international brand which has a presence in Australia, Singapore, United Arab Emirates, India, United Kingdom and Indonesia.

StayWell Hospitality Group CEO Mr Simon Wan said that formalising the management agreement for the hotels is a strategic move for the Sydney based company in entering the established Saudi Arabia market to grow its presence in the Middle East further.

“These two unique hotels will offer guests superb dining options as well as deluxe accommodation within walking distance to the Grand Mosque in Makkah.


Expected to open in the second quarter of 2018, the remarkable two hotels boast 286 and 344 guest rooms respectively (630 rooms in total). This Park Regis development will be one of the latest openings for the fast growing international brand which has a presence in Australia, Singapore, United Arab Emirates, India, United Kingdom and Indonesia.

StayWell Hospitality Group CEO Mr Simon Wan said that formalising the management agreement for the hotels is a strategic move for the Sydney based company in entering the established Saudi Arabia market to grow its presence in the Middle East further.

“These two unique hotels will offer guests superb dining options as well as deluxe accommodation within walking distance to the Grand Mosque in Makkah.

“The hotels are targeting to open in time for the 2018 Hajj and will welcome guests for the annual Islamic pilgrimage to Makkah visitors in this religious destination. We are looking forward to both hotels complementing our existing Park Regis Kris Kin and our upcoming Park Regis Business Bay hotel, located in Dubai. We are also actively looking for further opportunities to expand our network in the Middle East,” he said.

The owner’s representative Riyad Alhoraibi said “Discussions on the Park Regis Makkah hotels first started at ATM 2015 and over the ensuing months the relationship developed culminating in the signing of agreement for the two properties just weeks before the 2016 ATM.”

“We are delighted to be able to offer guests a range of accommodation in Ibrahim Al Khalil Street within walking distance from the Haram.”

The opening of the Park Regis Makkah hotels will bring the StayWell Hospitality Group’s portfolio to 31 hotels worldwide and 4 in the region and a step closer to the group’s strategic objective of expanding its portfolio to 100 hotels within three years.

http://www.hospitalitynet.org/news/4075135.html

https://www.zawya.com//story/Australias_StayWell_announces_1st_Saudi_hotel-ZAWYA20160328090322/

http://www.arabianbusiness.com/australian-hotel-giant-inks-deal-for-first-makkah-properties-626515.html

StayWell announces its first Saudi Arabia Property – Park Regis Makkah

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Meghna Agrawal

Meghna Agrawal, has 7 years of experience in corporate finance industry.  Currently she is a part of our investment banking and private equity team focused on creating long term value for our clients as a Senior Analyst.

Prior to ASAS Capital Ltd, she worked as a Finance controller in UAE’s largest airline “Emirates Airlines” and E&Y. 

She is a CFA charter holder and a qualified ACCA

Rajesh Gupta

Rajesh is a Chartered Accountant and an Executive MBA from NMIMS, Mumbai, India and have over 22 years of experience, including more than 16 years relevant experience in Investment Advisory and Portfolio Management.

Key competency areas are equity research, portfolio management, data analysis with deep understanding of business requirements in various international environments; well versed with regulatory requirements for financial services in different geographies such as India, UAE, Cayman Islands, and Mauritius.

Goneta Jakurti

Goneta, prior to her place in the Asas Team, spent over a decade at UBS in roles such as Trade Date Services, Fixed Income & Structured Products, JUNA Financial Products, Fixed Income Execution Trading and Securities, Specialist B4B Settlements & Implementation. She was furthermore the client Service Officer at Artorius Wealth, Zurich.

She holds a degree of Bachelor of Science in Business Administration from Fachhochschule Nordwestschweiz FHNW, Switzerland and speaks French, Italian, Spanish, Dutch, and Albanian.

Sana Javed

Sana Javed, has an experience of 13 years in the finance, corporate and private banking in the GCC region. Currently she is a part of our investment banking and private equity team focused on creating long term value for our clients as an Associate Director.

Prior to Asas Capital LTD, she was Finance Manager at Alghanim Industries a Kuwait based conglomerate, in Corporate banking with Citibank, MCB Bank, Mashreq Bank and Emirates NBD bank at various relationship management roles.

She holds a degree is Accounting and finance from Lahore University of Management Science in Lahore, Pakistan

Mangesh Shringarpure

Mangesh has over 25 years experience in financial services in UAE and India. He has worked for prestigious banks such as Standard Chartered Bank, BNP Paribas and Emirates NBD in Dubai. He was the Head of Priority Banking at SCB and BNP Paribas. At Emirates NBD Private Banking, he led a team of private bankers catering to the NRI segment and subsequently became Head of the Institutional Investor Group.

Mangesh has wide experience in investment products, financial advisory and wealth management. He holds a Masters in Management Studies from Mumbai University. 

Sanjeev Saxena

Sanjeev leads the Private Wealth Management business at Asas Capital. He has over 28 years of experience in Wealth Management, Banking, and Operations with Standard Chartered Bank and RAKBank. His most recent role was part of the Leadership Team at RAKBank. 

Sanjeev has been instrumental in launching new businesses as well as restructuring and turning around businesses. He holds a Bachelor of Engineering and a Masters in Business Administration from the University of Delhi.

Matein Khalid

Matein has 25 years of experience in international capital markets as an advisor to family offices and fund managers. He has worked for investment banks/hedge funds in New York, Chicago, London, and Geneva. In addition, he has been the CIO of a technology fund in San Francisco, a royal investment office in Dubai and a public insurance company listed on the DFM. 

Matein has four degrees in finance, economics and international relations from the Wharton School, University of Pennsylvania. He writes capital markets advisory columns for Khaleej Times, Gulf Business and Oman Economic Review and was awarded ICAEW prize for excellence in financial journalism, December 2011. He was also selected by MENA Fund magazine in MENA Power List, 50 most influential fund managers in the Middle East.

Himanshu Khandelwal

Himanshu has 15 years of experience in investment management across asset classes. He has been with Asas since its inception managing the proprietary equity investments and has executed numerous private equity transactions. Currently he heads our investment and advisory teams focused on creating long term value for our clients. 

Prior to Asas Capital, Himanshu worked as a portfolio manager in India’s largest financial services company, Kotak Securities with over USS$ 400 million assets under management. He also held analyst roles in reputable firms like CNBC and Bank of Baroda. He is a CFA charter holder and holds a Master’s degree in Business Administration from IBS Hyderabad.

Riyad Alhoraibi

Riyad has over 15 years of successful experience in Capital markets and Private Equity Investments. Prior to this, he was the CEO and Co-Founder of Sahara Global Investment, a propriety investment company based in Dubai. Riyad started his career working in the family business running for 50 years based in Jeddah, Saudi Arabia. 

The business has interests in retail, trading, real estate, and hospitality. Moving to Dubai, he made a move into investment banking starting at HSBC and then setting up Sahara Global Investment. He holds a degree in Bachelor of Economics and completed his MBA from The American University of Sharjah and is a member of Boards in a number of companies in Saudi, UAE, and the Middle East.