Being a publicly listed company with a number of shareholders, Aldar’s main function is, of course, return on investment, but opening doors for operators is another major benefit the firm offers as a strategic partner of the government.
This partnership approach is highlighted in the relationship with the latest operator to join the firm’s portfolio: Marriott International. The Courtyard by Marriott World Trade Centre is set to open next month, marking Aldar’s 10th asset managed property.
“We’re currently opening the WTC Marriott so we’re working with TCA and Abu Dhabi Food Control Authority to make sure that we’ve got all the systems, processes, and practical aspects of the hotel in place before we need to open, because we obviously have a very short timeline between now and the opening date. It’s very useful that the owners have these connections, and that’s a big part of what Aldar does on the asset management side. We have those relationships and we offer those when GMs require them.”
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The World Trade Centre was one of the assets that Aldar sold back to the government in 2009 as part of a capital injection. The firm now oversees it to ensure sufficient revenue is extracted and passed on, and a major part of this will rely on the new Marriott.
The hotel’s location, on a multi-purpose development with a residential tower, a commercial tower, a souk and a mall means food and beverage revenue will be what Rahman describes as “a low hanging fruit”.
“You’ll have people coming in from the all-day dining and for lunch from the mall and souk. Secondly, you’ll have people coming in from the commercial centre leased from Arabtec, and the third thing is ADNOC, so lunch is covered and the F&B at the weekend will be residential,” he says.
In terms of driving room occupancies, Rahman explains that the corporate market will be key, particularly those that have an account with ADNOC and Arabtec.
“We’ll be able to fill that hotel up through RFPs from those two very large institutions and in addition there are a lot of SMEs in the area we would target.”
A small number of leisure visitors from Saudi Arabia, Kuwait and Qatar will also be targeted, with the key marketing draw the hotel’s connectivity to Yas Island, and Yas beach — which Marriott Courtyard guests will benefit from during their stays.
While guests at the seven Yas Island properties gain access to the island’s leisure assets, even the two operating properties under Aldar outside of Yas Island — Tilal Liwa and the Hala Arjaan Rotana — capitalise on dual-marketing activities.
For example, guests that stay on Yas Island can be transported to Tilal Liwa to enjoy the Liwa Date Festival, the camel beauty contest and other cultural activities, while Tilal Liwa guests can benefit from the leisure attractons on Yas Island.
And while links to the firm’s leisure assets is a key benefit for operators under Aldar’s management, these are also proving crucial to the enhancement of Abu Dhabi’s destination offering as a whole.
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