UAE proptech start-up Stella Stays announced its expansion into the Kingdom of Saudi Arabia, introducing the first tech-enabled residential hospitality concept in the region.
The highly anticipated Stella Stays Riyadh Olaya Tower will open its door this month, offering modern, fully equipped, tech-enabled apartments and hotel suites, a coworking space, recreational and commercial amenities.
Guests and residents in Saudi Arabia will be able to use the Stella Stays app to navigate the entire journey - from booking and managing their stays, checking in, controlling smart home systems, to ordering a wide range of guest services. Payment terms are flexible and can be made through various methods, including debit, credit cards and crypto payments.
‘‘The digital economy, Covid-19, and tech-savvy millennials are driving massive behavioural shifts related to how people live, travel and work. Business travel is also bouncing back and increasing significantly, requiring the flexibility for longer stays,” said Mohannad Zikra, CEO and Cofounder of Stella Stays.
“When Stella Stays began operations in 2019, the average length of stay was night nights per booking. Today, the average length of stays has increased to 28 nights per booking, with many repeat guests and permanent residents. Stella Stays continues to capture these opportunities by creating modern living spaces, futuristic technology and a highly profitable business model. Our occupancy is now higher than the pre-pandemic level, reaching 100 per cent around events such as EXPO 2020 Dubai and the Formula 1 Bahrain Grand Prix 2022.’’