MaisonPrive, a ‘virtual hotel’ operator that offers luxury apartments and villas to business and leisure visitors to Dubai, announced an of $4 million as part of a major plan for growth.
MaisonPrive manages residential properties on behalf of owners, renting them to corporate and leisure guests on short-term stays in Dubai. Guests can enjoy the flexibility of staying in a luxury apartment or villa, with access to services like concierge, cleaning, fresh linens and towels, and 24/7 guest contact support. Owners can generate between 30-40 percent more revenue from their properties without the hassle of managing guests.
The investment is the first round of funding secured by the company, which was founded a year ago by Rami Shamaa and Paul Mallee.
Shamaa told Wamda that the investor is a hospitality ‘veteran’ with a presence in the region.
MaisonPrive manages a portfolio of apartments and villas in Dubai and is already on track to at least double the number under its remit by the end of the year.
Shamaa said: “We plan to go regional, but still, there’s a lot of room to grow in Dubai. We aim to have 500 units in Dubai over the next three years.” He explained that they currently operate over 50 units, with a confirmed pipeline of another 50 to be rolled in the next couple of months.
Mallee said the investment signalled confidence in the company’s growth strategy. “This initial funding round recognizes the potential of the business model we have built. It allows us to develop the infrastructure to support our scaling targets in the short run. We are part of Dubai's fast-diversifying hospitality segment, offering visitors luxury, space, flexibility, and value while giving owners new revenue streams without the hassle of managing guests. Dubai is now the world's fourth most visited city. As leisure and business tourism grows, demand for our services will rise. That positions us for rapid growth in the years ahead,” he said.
A report issued last month by Dubai Tourism showed that the city’s hotel rooms supply will reach 132,000 by the end of next year. The government recognizes the need to diversify Dubai’s hospitality proposition to keep pace with demand.