Hospitality

Hospitality

Türkiye Enhances Cultural Heritage Efforts with Restored Ancient Sites in Antalya

Global demand for heritage tourism continues to grow as travellers increasingly seek authentic, immersive cultural experiences. In 2025, cultural heritage tours accounted for 55.6% of the market, reflecting a broader shift toward meaningful travel that celebrates history, heritage preservation and culture. This trend is expected to drive continued market expansion, with the sector projected to grow from USD 647.5 billion in 2026 to USD 937 billion by 2033 at a compound annual growth rate (CAGR) of 5.4%. As global interest in cultural heritage tourism continues to grow, Türkiye stands out as a premier destination where travellers can explore humanity’s shared history — from Göbeklitepe, the world’s oldest known human-made monumental complex, to Troy, the legendary city that inspired some of the greatest myths of Western civilisation. Türkiye is further reinforcing its position through restoration and conservation projects that both safeguard its cultural assets for future generations and enrich the visitor experience. Among its latest initiatives are the restoration works at the Andriake Archaeological Site and the Museum of Lycian Civilisations, as well as the opening of the Syedra Visitor Centre. Following extensive restoration, renovation and landscaping works, Andriake and the Museum of Lycian Civilisations in Demre, Antalya – the heart of the Turkish Riviera – have recently reopened to visitors. Meanwhile, Syedra, located in Alanya, one of Antalya’s most popular holiday destinations, has begun welcoming visitors with its new visitor centre. Andriake and the Museum of Lycian Civilisations offer a renewed journey into Ancient Lycia As the port of Myra, Andriake was one of the most important harbour cities of the ancient Lycian civilisation. It remained one of the region’s principal ports throughout the Hellenistic, Roman and Eastern Roman periods. Today, visitors can explore its remarkably well-preserved ruins, most of which are spread across the southern side of the ancient harbour. Highlights include the aqueduct that once supplied fresh water to the city, the nymphaion—a monumental Roman fountain—the Harbour Street, the partially preserved ship shelters lining the street, and the agora known as Plakoma. Andriake is also located along the Lycian Way, Türkiye’s first long-distance hiking trail, which has been recognised by leading international publications, including Time Out, as one of the world’s most beautiful hiking routes and was recently featured on The Telegraph‘s list of “The 15 Greatest Walking Holidays in Europe.” Travellers following this iconic route can embark on an unforgettable journey through ancient Lycia and, during their visit to Andriake, experience the site’s recent revitalisation. As part of these efforts, environmentally friendly walkways made of timber sleepers and split granite stones have been carefully integrated into the archaeological site while preserving its historic character. These additions allow visitors to explore the site in comfort while gaining a deeper appreciation of Lycian maritime heritage. At the end of the walkway, the Museum of Lycian Civilisations welcomes visitors within the restored ancient granary (Granarium), located inside the archaeological site. Following recent enhancements, the museum now features contemporary exhibition galleries showcasing artefacts uncovered during excavations across ancient Lycian cities. Sculptures, sarcophagi, inscriptions, coins and many other remarkable finds are displayed in state-of-the-art exhibition spaces, offering fascinating insights into Lycian life and culture. Among the museum’s most notable recent additions are glass panels and rosettes decorated with the millefiori (“thousand flowers”) technique, discovered at Andriake in 2024, showcasing the exceptional craftsmanship of ancient Anatolian glassmaking. Syedra introduces a New Visitor Centre Syedra was built on the summit of a hill known locally as Asartepe, commanding the surrounding Mediterranean landscape. Archaeological excavations indicate that the city dates back to the 9th century BCE, while its most prosperous periods were during the Roman and Eastern Roman eras, which also account for many remains visible today. Alongside remarkable structures such as the Collonaded Street, the Great Bath, the Assembly Building, and the Baptism Cave, Syedra also captivates visitors with its breathtaking views. The Syedra Mosaic, discovered in the city’s well-preserved Great Bath and depicting all of the Labours of Heracles on a single panel, stands out as a unique example of ancient mosaic art. As part of the excavation and restoration works carried out under the “Legacy for the Future Project” at the Syedra, landscaping improvements have been completed, and a new visitor centre has been opened at the site. With its renewed face, Syedra will welcome visitors every day from 9 am to 6 pm.

Hospitality, Travel

RAG Holdings Earns Great Place to Work Certification, Reinforcing Its Commitment to Building Great Businesses Through People First Approach

The RAG Holdings Team celebrates its Great Place to Work Certification, recognizing a workplace culture built on trust, collaboration and shared success Dubai, United Arab Emirates RAG Holdings, a leading organization, with premium business centres in Dubai, enabling entrepreneurs to operate and scale in the UAE, has been officially Certified as a Great Place to Work®, one of the world’s most respected recognitions for workplace culture and employee experience. Awarded entirely on confidential employee feedback, the Great Place to Work Certification recognizes organizations that consistently foster trust, collaboration, inclusivity, and professional growth. For RAG Holdings, this recognition represents more than a workplace achievement—it reflects a philosophy that has guided the organization since its inception: Building great businesses starts with great people. As Dubai continues to strengthen its position as one of the world’s leading destinations for entrepreneurship, innovation, and foreign investment, RAG Holdings believes that exceptional businesses are built on two foundations: an environment where companies can thrive and a culture where people can flourish. Today, RAG Holdings has evolved beyond traditional business setup by creating a comprehensive business growth ecosystem. Through its network of premium business centres and flexible office spaces across Dubai, combined with integrated corporate services, RAG empowers entrepreneurs, startups, SMEs and multinational organizations with everything they need to establish, operate and expand successfully in the UAE. Its ecosystem includes premium office spaces, coworking environments, meeting facilities, Mainland and Free Zone company formation, PRO services, Golden Visa support, accounting and bookkeeping, corporate compliance, trademark registration, and strategic business advisory-all delivered through a seamless, client-centric experience. “At RAG Holdings, we have always believed that our greatest investment is our people. This certification is particularly meaningful because it comes directly from the voices of our employees. It reflects the culture we have built together-one founded on trust, collaboration, learning and shared success. As we continue expanding our Business Growth Ecosystem and supporting entrepreneurs from around the world, our people will remain our greatest strength.” Rassal Ahmed, Chief Executive Officer, RAG Holdings. The Great Place to Work® Certification™ marks another significant milestone in RAG Holdings’ journey as it continues to redefine how businesses establish and grow in the UAE. More than a provider of business services, RAG Holdings has built an integrated ecosystem that supports businesses throughout every stage of their journey, from securing premium office infrastructure and launching operations to managing compliance, accessing strategic advisory, expanding into new markets and building long-term business success. The milestone was celebrated with employees, founder & CEO Rassal Ahmed and the leadership team, recognizing the people whose passion and dedication continue to drive the organization forward. The celebration was further made memorable with a congratulatory message from Dr. Shashi Tharoor to the entire RAG team. The company believes that exceptional employee experiences create exceptional client experiences. By continuously investing in its people, leadership, and workplace culture, RAG Holdings strengthens its ability to deliver outstanding service while contributing to Dubai’s vision of becoming the world’s preferred destination for entrepreneurs and global businesses. As RAG Holdings continues its regional expansion, the company remains committed to attracting exceptional talent, developing future leaders and building a workplace culture that inspires innovation, collaboration and sustainable growth.

Hospitality

With Culture as Strategy, Unitile Wins in India’s Great Mid-Size Workplaces 2026 Top 100 at Rank 61

Unitile has been named among India’s Great Mid-size Workplaces™ 2026 – Top 100, reflecting its strong culture, employee empowerment, collaboration and growth Mumbai, Maharashtra, India Across industries, the conversation around business performance is changing. While technology and operational excellence continue to shape any organisation’s success, new age business leaders are progressively recognising that sustainable performance is ultimately human-driven. Unitile (United Access Floors Private Limited. United Office Systems Private Limited & United Acoustics Private Limited) has been recognised among India’s Great Mid-size Workplaces™ 2026 – Top 100 (Rank 61), while also being honoured for India’s Best Workplaces™ in Cement & Building Materials 2026 and India’s Best Workplaces in Manufacturing 2026 (Top 30). Presented under the Unitile brand, the recognition extends across the organisation’s group companies – United Access Floors Private Limited, United Office Systems Private Limited and United Acoustics Private Limited, reflecting a shared culture that transcends individual business verticals. Evaluated as a single organisation, the recognition honours the shared employee experience and workplace culture across the group’s businesses. As workplace culture remains a core driver of innovation, collaboration and long-term success, Unitile’s triple recognition from Great Place To Work® India reaffirms its commitment to building a high-trust, people-first organisation. For Unitile, India’s number 1 raised access floor brand, this recognition validates their philosophy which has helped their growth over the years that exceptional workplace are formed only by a people-first approach. Alongside continuous expansion in sustainable manufacturing excellence and product innovation, the company has remained equally committed in fostering a workplace that allows its employees to voice their ideas, collaborate across departments and grow with the organisation. This approach has shaped a workplace where leadership is accessible, ownership is encouraged and collaboration extends beyond departments. The recognitions are awarded by Great Place To Work®, the global authority on workplace culture, employee experience and leadership behaviours that drive market-leading business performance, employee retention and innovation. Based on one of the world’s most rigorous workplace assessment methodologies, the recognition primarily reflects confidential employee feedback, offering an authentic measure of how people experience their organisation. Commenting on the achievement, Idris Rajkotwala, Executive Director, Unitile, said, “We are truly humbled to be acknowledged by Great Place To Work® India with these awards. What makes us truly humble is the recognition from our valued employees who have trusted us and dedicated themselves wholeheartedly. We at Unitile believe that the culture of the organization forms the basis for success. When people are respected and empowered, they perform to the best of their abilities.” These latest honours build on Unitile’s consistent recognition among India’s leading manufacturing workplaces, reaffirms that its culture is grounded in a lasting commitment to its people. As the company strengthens its position in the building materials sector, it remains focused on an environment where people and performance advance together.

Hospitality, Latest News

DS Group to Launch Marriott International’s W Hotels Brand In NCR

Strengthening its hospitality portfolio, the Dharampal Satyapal Group (DS Group), a leading FMCG conglomerate and multi-business corporation, has announced the launch of a new luxury hospitality project in partnership with Marriott International under the W Hotels brand. The project will feature a 200-room luxury hotel near Indira Gandhi International Airport and is scheduled to open in the second half of 2027, with an estimated investment of Rs. 400 crore. Strategically located near the Aerocity, one of Delhi NCR’s most active hospitality corridors, catering to both business and leisure demand. Marking the debut of W Hotels in Delhi NCR, and the second W Hotels property in India (after Goa), this development will add a distinctive, lifestyle-led offering to a market traditionally dominated by legacy luxury formats. Rooted in an impactful trifecta which includes detail-driven design, anticipatory service culture, and dynamic programming, W Hotels has a presence in global cities such as London, New York, Dubai, and Singapore to name a few. Remaining true to the brand’s iconic foundations, the upcoming property will be developed as a design-forward, contemporary destination, in line with W Hotels’ global identity. Bringing together the magnetic energy of W Hotels and the essence of local culture, the hotel aims to cater to a new generation of luxury consumers seeking both sophistication and vibrancy around Delhi NCR. Announcing the launch, Mr. Rajiv Kumar, Vice Chairman, DS Group, said, “The Indian hospitality sector is currently witnessing an unprecedented growth trajectory, fuelled by a robust surge in domestic travel and a significant demand-supply mismatch in the premium segment. With approximately 0.27 hotel keys per 1,000 people compared to the global average of 2.2, India’s hotel penetration rate is roughly one-tenth of the global standard. As marquee global players are rapidly expanding their footprints across the Indian landscape, New Delhi remains the indispensable gateway to the high value diplomatic and corporate echelons that ultimately establish a brand’s equity and authority in the subcontinent. The launch of Marriott International’s W Hotels brand reinforces our continued commitment to the hospitality business and marks a significant milestone in DS Group’s growth strategy, aligned with our long-term vision of providing unparalleled experiences to our guests.” Mr. Nathan Andrews, Business Head, Hospitality, DS Group, said, “This project is a significant step for the DS Group as we expand our hospitality footprint with a target of 10–12 hotels by FY29. By bringing the iconic W Hotels brand to Delhi NCR, we are setting a new benchmark for design-led luxury, project in one of India’s most competitive markets. The Aerocity area continues to demonstrate exceptional demand and RevPAR growth, making it the ideal location for a globally recognized brand that combines unmatched connectivity with long-term value for Delhi NCR. This partnership underscores our commitment to shaping the future of Indian hospitality by delivering curated, high-impact experiences for the modern global traveller.” “As Marriott International continues to expand our hospitality options in India to meet the evolving needs of both guests and owners, the signing of our first W Hotels in Delhi NCR is set to introduce a bold new expression of luxury to this dynamic, high-energy market,” said Kiran Andicot, Senior Vice President, South Asia, Marriott International. “We are delighted to collaborate with the Dharampal Satyapal Group, whose legacy of excellence and forward-looking approach to premium, experience-led hospitality aligns seamlessly with Marriott International’s commitment to delivering differentiated, high-quality hospitality experiences, grounded in strong partnerships and a shared vision for long-term value creation.” Rooted in the W Hotels philosophy of celebrating individuality, igniting curiosity, and expanding perspectives, the hotel is poised to disrupt traditional hospitality. Blending avant-garde, design-led environments with high-energy social hubs like the W Lounge, will transform the hotel from a mere place of stay into a vibrant, music-infused lifestyle destination. This ethos of innovation and immersive guest engagement aligns seamlessly with the DS Group’s legacy of excellence and its strategic focus on delivering premium, market-leading experiences. By welcoming W Hotels into its portfolio, DS Group reinforces its commitment to forward‑thinking luxury defined by cultural energy and modern relevance. Known for its liberated approach to luxury and bold design sensibility, W Hotels brings a dynamic new dimension—creating experiences that celebrate self‑expression, connection, and living fully in the moment. This approach aligns with DS Group’s focus on delivering premium, experience-led hospitality and expanding its footprint in futuristic and high-growth urban markets. DS Group is pursuing an aggressive expansion strategy in hospitality, with plans to double its current room inventory by 2029 and an investment commitment of Rs. 1,000 crore over the next few years. The growth will be driven primarily in the luxury and mid-scale segments, across high-growth Tier I and Tier II cities. DS Group’s existing portfolio includes six operational properties across key markets, including Namah Nainital, Namah Jim Corbett, Radisson Blu Guwahati, Intercontinental Jaipur, Renaissance Bengaluru and Holiday Inn Express, Kolkata.

Hospitality, Latest News

The Ritz-Carlton, Pune successfully hosts the Fourth Edition of ‘STIRRED UP’ by 30 Best Bars India

Situated in the heart of Pune’s vibrant downtown and overlooking the prestigious Poona Club Golf Course, The Ritz-Carlton, in collaboration with 30 Best Bars India, successfully hosted the fourth edition of STIRRED UP at its iconic Aasmana Rooftop Lounge & Bar, bringing together some of the most influential voices from India’s bar and hospitality industry for an evening of dialogue, discovery, and celebration. The event began with a compelling Fireside Chat, featuring Arnesh Ghose, Ishwinder Gill (General Manager, The Ritz-Carlton, Pune), and a panel of distinguished industry voices like Vijeta Singh– Co-founder of Together Hospitality, Manu Gulati – Founder of Effingut Breweries, a pioneer of India’s craft beer movement and one of the key figures behind Pune’s brewing culture along with Rohan Rehani, Co-Founder at Moonshine Meadery and Vikram Achanta – Co-founder of 30 Best Bars India and CEO of Tulleeho. The session spotlighted evolving trends in India’s beverage ecosystem, the growing sophistication of cocktail culture, and the role of innovation and storytelling in shaping modern bar experiences. The conversation offered valuable insights into how India’s bar landscape continues to gain global recognition. Following the engaging discussion, guests were invited to an energetic Bar Night, where the spirit of India’s dynamic cocktail scene came alive. The evening showcased expertly crafted cocktails creative techniques, and a vibrant exchange of ideas, embodying the essence of what 30 Best Bars India stands for – celebrating excellence and pushing boundaries in the industry. This was the fourth edition of Stirred Up by 30 Best Bars which has travelled through Mumbai, Bangalore and Kolkata in its previous editions.  Aasmana, a rooftop lounge showcasing contemporary Indian cuisine and craft cocktails with panoramic city views; the event provided the perfect backdrop for meaningful networking, creative exchange, and elevated social experiences. Attendees included industry leaders, mixologists, hospitality professionals, and tastemakers like Ilvika Chandarwarkar of Malaka Spice, Yogesh Daryani of Moonshine brewery, Neha Khilnani of Together Hospitality all contributing to an atmosphere of creativity and collaboration. Speaking on the occasion, Ishwinder Gill, General Manager, The Ritz-Carlton, Pune, shared that hosting STIRRED UP reflects the hotel’s commitment to fostering platforms that drive industry conversations and showcase innovation. The successful conclusion of this edition of STIRRED UP further reinforces The Ritz-Carlton, Pune’s position as a hub for curated luxury experiences and thought leadership in hospitality, while strengthening 30 Best Bars India’s role as a key catalyst in shaping the future of India’s bar culture.

Hospitality, Latest News

Ministry of Tourism Celebrates 12th International Day of Yoga Across the Country; Hon’ble Tourism Minister Performs Yoga at Karjat, Maharashtra

The Ministry of Tourism marked the 12th International Day of Yoga (IDY) 2026 with nationwide celebrations reaffirming its commitment to promoting wellness, holistic health and mindful living across the tourism and hospitality ecosystem.On the occasion, Union Minister for Tourism and Culture Shri Gajendra Singh Shekhawat participated in a yoga session at Shantikshetra Ashram, Karjat, Maharashtra, where he highlighted the transformative role of yoga in individual well-being and nation-building. As part of the nationwide celebrations, the Ministry of Tourism, in collaboration with India Tourism Development Corporation (ITDC) and the Standing Conference of Public Enterprises (SCOPE), organised a special International Day of Yoga programme at The Ashok, New Delhi. The event brought together senior officials from the Ministry of Tourism, Department of Public Enterprises, Central Public Sector Enterprises (CPSEs) and other stakeholders. The yoga session, conducted by expert instructors from the Morarji Desai National Institute of Yoga (MDNIY), witnessed participation from more than 150 representatives from over 10 CPSEs. This year’s theme, “Yoga for Healthy Ageing,” underscores the importance of integrating yoga into everyday life to promote physical vitality, mental well-being, emotional resilience and healthy longevity. Speaking on the occasion, Shri Bhuvnesh Kumar, Secretary, Ministry of Tourism, said, “Yoga is India’s timeless gift to the world, promoting harmony between mind, body and spirit. The theme ‘Yoga for Healthy Ageing’ reinforces the importance of adopting wellness practices that support healthier and more fulfilling lives. It is encouraging to see public sector organisations come together in embracing this movement and inspiring healthier communities.” Highlighting ITDC’s commitment to promoting wellness and healthy living, Ms. Mugdha Sinha, Managing Director, ITDC, said that this year marks the second consecutive year of the whole-of-CPSE approach, bringing together public sector enterprises in a collective commitment to health and well-being. Yoga is a powerful tool for holistic wellness and healthy ageing. Through this observance, we reaffirm our dedication to fostering wellness, resilience and healthier lifestyles among employees and stakeholders. We are encouraged by the enthusiastic participation of CPSEs in this nationwide movement, she added. Extending the celebrations across the tourism and hospitality education ecosystem, Institutes of Hotel Management (IHMs) under the Ministry of Tourism organised yoga sessions and awareness programmes across the country with enthusiastic participation from students, faculty members and staff. Through these initiatives, the institutions encouraged young hospitality professionals to embrace wellness as an integral part of both personal and professional life.

Latest News, Hospitality

Korea Tourism Organization Hosts Successful MICE Roadshow 2026 in Mumbai

The Korea Tourism Organization (KTO) India successfully hosted the Korea MICE Roadshow 2026 in Mumbai, bringing together key stakeholders from India’s travel trade and corporate sector to explore Korea’s expanding opportunities in the Meetings, Incentives, Conferences, and Exhibitions (MICE) industry. As Korea continues to strengthen its position as a leading MICE destination in Asia, the roadshow highlighted the country’s world-class convention infrastructure, innovative event experiences, seamless accessibility, and comprehensive support programs. Backed by state-of-the-art venues, smart city initiatives, rich cultural experiences, and strong government support, Korea is increasingly attracting international meetings, conventions, and incentive groups from around the world. During the event, KTO presented its extensive support framework for Indian MICE groups, including the highly popular Korea MICE Group Visa Program, which offers visa fee waivers, expedited processing, and simplified documentation procedures for eligible groups. Attendees were also introduced to KTO’s customized MICE Support Program 2026, which provides a wide range of benefits tailored to group size and requirements. These support measures include destination experience fees, souvenirs, official dinner support, cultural performances, charter bus arrangements, K-pop experience booths, K-food trucks, welcome receptions, team-building activities, and professionally produced trip highlight videos. The program is designed to help organizers create memorable and impactful experiences while maximizing value for participants. Speaking on the occasion, Mr. Myong Kil Yun, Regional Director, India & SAARC Countries, Korea Tourism Organization, said: “Korea is not just a destination for business events, it is a place where business, culture, innovation, and unforgettable experiences come together. We are proud to welcome the recent group from India and showcase the many possibilities Korea offers for the MICE industry. The strong response from our Indian partners reflects the growing confidence and potential of this market. We believe this is only the beginning, and we look forward to welcoming even larger groups, more impactful events, and deeper collaborations in the years ahead. Together, we will continue to create exceptional MICE experiences that strengthen the friendship and partnership between India and Korea.” A special highlight of the roadshow was the felicitation of Indian actress and Korea Tourism Honorary Ambassador Ms. Priyanka Mohan, who was officially appointed by KTO on June 1, 2026, during a ceremony held at the KTO Seoul Center, HiKR Ground. As part of her ambassadorial engagement, Ms. Priyanka recently participated in a specially curated familiarization (FAM) trip to Seoul and Gyeongju, where she experienced Korea’s diverse tourism offerings firsthand. Her itinerary included immersive encounters with K-beauty, Korean cuisine, traditional markets, cultural heritage sites, and contemporary lifestyle attractions, offering a comprehensive glimpse into Korea’s unique blend of tradition and innovation. Addressing the audience, Ms. Priyanka Mohan shared: “Korea holds a special place in my heart. My time there, both during my shoot and on this recent visit, has given me memories I will always cherish. The people, the culture, the food, and the warmth I experienced have stayed with me long after I left. I’ve also been fortunate to make some wonderful friends there, which has made my connection to Korea even more special. It’s a place that continues to inspire me, and I look forward to returning again and again. I am truly honored to have been appointed as the Honorary Ambassador for Korea Tourism in India. It is a privilege and responsibility that I deeply value, and I look forward to doing my best to promote Korea’s rich culture, beautiful destinations, and unique experiences to Indian travelers. Thank you to the KTO team for hosting me this year and making this experience so memorable.” Through the Korea MICE Roadshow 2026, KTO reaffirmed its commitment to strengthening India-Korea tourism and business event exchanges.

Hospitality, Latest News

This Father’s Day, Let Dad Take the First Bite at Novotel Vijayawada Varun

A warm Sunday brunch with live counters, global flavours and family moments. This Father’s Day, Novotel Vijayawada Varun is inviting families to skip the predictable gifts and gather around something far more memorable: a table full of stories, laughter and food made for sharing. On Sunday, 21 June 2026, Food Exchange will host a special Father’s Day Brunch designed as a heartfelt tribute to fathers and father figures, the quiet heroes who make everyday moments feel larger than life. Curated for families who want to celebrate dad with time well spent the brunch brings together an indulgent spread of regional favorites, global classics, interactive live stations and specially crafted beverages. From familiar comfort flavors to festive treats created for the occasion, the afternoon is built around the simple joy of sitting down together, with dad at the center of it all. “Father’s Day is not just about a meal; it is about giving families a reason to reconnect and celebrate the people who have shaped their lives in quiet but meaningful ways. At Novotel Vijayawada Varun, we wanted to create an afternoon that feels joyful and personal, with great food, warm hospitality and moments that families will remember long after the brunch is over,” shares Manish Pathak, Hotel Manager, Novotel Vijayawada Varun. The celebration will feature Food Exchange’s signature brunch experience, elevated with live cooking counters, a generous selection of cuisines, Father’s Day-themed desserts and a relaxed ambience ideal for multi-generational gatherings. Whether it is dad’s favorite dish, a new flavour discovery, or simply the pleasure of a long Sunday meal with family, the brunch promises an afternoon that feels thoughtful, festive and worth remembering. Event Details Venue: Food Exchange, Novotel Vijayawada Varun Date: Sunday, 21 June 2026 Occasion: Father’s Day Brunch

Hospitality, Latest News

GymNation Secures $100 Million Investment From HPS, part of BlackRock, To Accelerate Expansion

One of the largest private credit investments ever made into a GCC-born, founder-led consumer brand. GymNation, the GCC’s fastest-growing gym operator, has secured a $100 million private credit facility from certain funds, entities and/or accounts managed, advised or controlled by HPS Investment Partners, LLC (“HPS”), part of BlackRock-  the world’s largest asset manager, in one of the first regional investments of its size since the Iran conflict commenced. Founded in the UAE in 2018 by Loren Holland, Frank Afeaki, and Ant Martland, GymNation was built on a simple mission: to make world-class fitness affordable and accessible to everyone. Since opening its first gym in Al Quoz, Dubai, GymNation has grown to become the Middle East’s largest low-cost gym operator, with close to 50 locations and over 200,000 members across the UAE, Saudi Arabia, and Bahrain. “Securing $100 million of growth capital is a transformational milestone for GymNation and provides the platform for us to expand our footprint across the GCC and beyond.  What was most encouraging throughout the process was the conviction shown by HPS and all stakeholders involved, who despite the challenging geopolitical environment, never lost confidence in the business or the long-term prospects for the region. The GCC has created a world-class entrepreneurial environment which, as a UAE homegrown startup, we are proud to represent,” said Loren Holland, CEO & Founder, GymNation. “The GCC represents one of the most exciting and highest growth fitness markets in the world right now, and we are proud to being playing our part as we continue to make fitness affordable and accessible to all. We also believe the GymNation brand and unique business model is transferable into other international markets, and we will soon be announcing our first expansion outside of the GCC, into Asia, which will represent an exciting new chapter of growth” he added. This $100 million facility ($75m committed with a $25m accordion) is the latest and most significant chapter in a capital journey that has attracted increasingly sophisticated institutional investment at every stage. In 2023, the founding team led a management buyout, acquiring full control of the business with the support of Ruya Partners and Tricap Investments, two regional partners whose early conviction laid the foundation for what followed. The transaction also marks a successful exit for existing financing partner Ruya Partners who played a pivotal role in supporting GymNation’s management buyout and expansion into Saudi Arabia. The refinancing by HPS reflects GymNation’s rapid growth and evolution into a scaled regional platform capable of attracting global institutional capital. The investment will be deployed across three priority areas. First, continued expansion across the GCC, with a pipeline targeting 100+ locations in the next three years, building on GymNation’s established presence across the UAE, Saudi Arabia, and Bahrain and supported by a new regional headquarters in Riyadh. Second, further investment in GymNation’s proprietary technology platform, the data, AI, and machine learning infrastructure behind GymNation’s industry-leading unit economics. Third, international expansion beyond the GCC, as GymNation evaluates new markets where demand for affordable, high-quality fitness is strong and the category remains significantly underpenetrated. More than 50 members of GymNation’s senior leadership team have been granted participation in the company’s long-term incentive equity plan, reinforcing alignment between management and shareholders as the business enters its next phase. Tatsu Partners acted as lead debt advisors to GymNation on the transaction while DLA Piper served as legal advisors. PwC provided financial due diligence and tax advisory services. Eight years on from a single gym in Al Quoz, GymNation has become one of the GCC’s defining entrepreneurial success stories. The transaction’s completion against a backdrop of heightened global volatility speaks to the strength of those fundamentals and the conviction of its institutional partners.

Hospitality, Latest News

KERZNER INTERNATIONAL ANNOUNCES NEW ONE&ONLY RESORT AND PRIVATE HOMES IN COURCHEVEL 1850, FRANCE

The ultra luxury brand will introduce an extraordinary new pinnacle of high-altitude luxury in Courchevel, opening in 2030 Kerzner International Holdings Limited (“Kerzner”) is proud to announce One&Only in Courchevel, the brand’s first resort in the French Alps. Set to welcome its first guests in 2030 within the legendary Courchevel 1850, One&Only will bring its celebrated approach to ultra-luxury hospitality to one of the world’s most coveted mountain destinations. The landmark opening will redefine the experience of elevated alpine living through exceptional design, immersive wellness, vibrant culinary experiences, and a rare collection of branded residences. It also marks a significant milestone in One&Only’s alpine strategy, building a presence in the world’s most exceptional mountain destinations following the successful debut of One&Only Moonlight Basin in Montana. Through this expansion, One&Only is extending its distinctive philosophy of immersive luxury resorts into iconic alpine environments, creating extraordinary retreats rooted in adventure, wellbeing, authenticity and a deep connection to place. Recognised globally as the benchmark of alpine luxury, Courchevel occupies a singular position within the world of mountain hospitality; not simply as a ski destination, but as an international symbol of splendour, exceptional service and refined social culture. Renowned for its unparalleled ski terrain, Michelin-starred gastronomy, luxury boutiques and vibrant après-ski scene, Courchevel attracts an ultra-luxury international clientele seeking the very highest standards of hospitality and experience. The resort will rise on the site of the much-loved and historic Courcheneige Hotel, an address long woven into the story of Courchevel. Through a complete and thoughtful transformation, the property will be reimagined to reflect One&Only’s exacting standards of design, comfort and service, while honouring the heritage and enduring spirit of this iconic alpine location. Positioned at the summit of the exclusive Jardin Alpin, the resort will boast one of the most private and prestigious addresses in the destination; elevated above neighbouring properties and surrounded by panoramic mountain vistas, offering direct ski-in/ski-out access to the renowned Bellecôte slope, placing guests at the heart of Les Trois Vallées, the world’s largest ski area. Combining seclusion with effortless connectivity, One&Only will be both an intimate sanctuary and the social pulse of the destination. Designed to embody the spirit of modern alpine glamour synonymous with Courchevel itself, the resort will balance intimacy and discretion with the vibrant energy and sense of occasion that have long defined the destination’s global appeal. A Landmark Moment for One&Only “Courchevel, one of the most iconic mountain destinations in the world, has long set the standard for luxury mountain travel globally, attracting a sophisticated international audience who value not only extraordinary skiing, but exceptional dining, vibrant social experiences, impeccable service and a true sense of occasion. The arrival of One&Only marks a defining milestone not only for our brand, but for the future of luxury hospitality in the Alps, as this project has been conceived to honour and elevate the legacy through our distinctive lens” said Philippe Zuber, Chief Executive Officer, Kerzner International. “One&Only has always been about creating truly one-of-a-kind resorts that are deeply rooted in their destination, where exceptional design, genuine hospitality, transformative wellness and unforgettable experiences come together in a way that feels both personal and extraordinary. Following the tremendous success of the opening of One&Only Moonlight Basin in Montana just last year, we are proud to continue our expansion into the world’s most remarkable mountain destinations. With One&Only, we will bring a new spirit of alpine luxury to Courchevel, one that celebrates the beauty, energy and soul of the French Alps, while inviting guests to experience the rare sense of freedom that defines One&Only.” A New Benchmark for Alpine Hospitality One&Only in Courchevel will feature a mix of elegant guest rooms and expansive suites, each intentionally designed to maximise natural light, breathtaking views and a profound sense of warmth and privacy. Blending the timeless language of alpine architecture with the understated glamour synonymous with One&Only. The design will carefully frame mountain vistas, creating spaces that feel both residential and deeply connected to the landscape. Exceptional Dining and Social Experiences Dining at One&Only in Courchevel will be a defining pillar of the guest experience, with a collection of restaurants, bars and lounges curated to bring energy, sophistication and a vibrant sense of mountain living. From relaxed slope-side lunches and elegant evening dining to the most sought after après-ski destination and intimate late-night gatherings, the culinary offering will capture the spirit of Courchevel’s celebrated social scene. Signature venues throughout the resort will combine refined cuisine, stylish surroundings and the warmth of One&Only hospitality, creating a destination in their own right for guests and residents alike. Reflecting Courchevel’s status as one of the world’s leading destinations for gastronomy and alpine lifestyle, the resort’s culinary programming will be designed to appeal to a globally discerning clientele for whom dining, entertainment and social connection are as integral to the experience as the slopes themselves. A Destination for Wellness and Recovery At the heart of One&Only in Courchevel will be an expansive wellness sanctuary, designed as a serene counterpoint to the exhilaration of the mountains. Inspired by altitude, fresh alpine air, silence, snow and the restorative contrast of heat and cold, the spa will offer a deeply immersive wellbeing journey for guests and residents alike. Facilities will include a striking indoor/outdoor wet circuit, thermal experiences, private treatment spaces, beauty and recovery facilities, and dedicated areas for movement and relaxation. Tailored therapies will focus on recovery and rejuvenation, from post-ski muscle restoration and contrast bathing to mindfulness, sleep support and holistic renewals designed to recalibrate body and mind. High-performance wellness spaces will complete the offering, allowing guests to maintain performance on the slopes or simply reconnect with themselves in a spectacular natural setting. One&Only Private Homes in Courchevel Complementing the resort will be an exceptionally limited collection of One&Only Private Homes, set to become among the most desirable branded residences in the French Alps. An ownership opportunity of this calibre is seldom available in Courchevel, combining one of the world’s most renowned mountain destinations with the

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