Sunday 26 May 2019

Maison Privee portfolio value to cross $300m

DUBAI, March 13, 2019

Maison Privee, a Dubai-based hospitality technology firm and leading vacation rentals provider, has managed to build a luxury hospitality portfolio with an estimated worth of more than $300 million in a span of just two years.

Maison Privee brings an innovative approach to luxury accommodation experiences. The concept combines the service and convenience of a premium hotel with the privacy and comfort of home. Co-founded in 2017 by Paul Mallee and Rami Shamaa, Maison Privee offers authentic luxury stays in outstanding locations with stunning views of Dubai’s skyline.

Since its Series A funding announcement at $4 million less than 12 months ago, the company has seen an exponential growth in the number of guests; increasing from just over 1,000 guests in the first year to over 10,000 guests in the second year of operation.

Due to the substantial growth in the short-term rental market, Maison Privee has seen constant growth in its assets under management, with a portfolio valued in excess of $300 million expected by the end of the year.

Mallee said: “One of our key strengths at Maison Privee is sustaining momentum; growing our portfolio constantly and steadily while maintaining the unique quality of our services. Dubai is a huge tourism hub where we continue to see significant opportunities."

This outstanding growth and innovative approach has resulted in the company being selected as a finalist at the global Serviced Apartment Awards 2019, taking place in London later this month and organized by International Hospitality Media (IHM).
Maison Privee is the only nominee from the Middle East to be shortlisted in the Best Short Term Rentals Operator category, alongside other leading international companies such as Bridgestreet.

“We have always pursued excellence in our endeavour to create an exclusive and discerning luxury offering and we are delighted to be recognized at a global level,” said co-founder Shamaa.

Joining the team on this journey, Ryan Kasper was recently appointed as head of property acquisition, where he will be responsible for furthering Maison Privee’s portfolio expansion. Kasper, a senior property professional with a decade of GCC experience managing some of the most exclusive properties in Dubai, was previously the director of Luxury Rentals at Luxhabitat.

Kasper commented: “I am delighted to embark on this new journey and to lead the development of the Maison Privee portfolio. There is a growing recognition of the potential to generate greater returns through short term rentals as an alternative to traditional yearly leasing, particularly in an otherwise difficult market. I look forward to bringing my expertise in luxury property to this new and exciting space.” - TradeArabia News Service


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