ALEXA IS IN MILLIONS OF HOUSEHOLDS—AND AMAZON IS LOSING BILLIONS
Company’s strategy to set prices low for Echo speakers and other smart devices, expecting them to generate income elsewhere in the tech giant, hasn’t paid off
Company’s strategy to set prices low for Echo speakers and other smart devices, expecting them to generate income elsewhere in the tech giant, hasn’t paid off
Amazon.com ’s Echo speakers are the type of business success companies don’t want: a widely purchased product that is also a giant money loser.
Chief Executive Andy Jassy is trying to plug that hole—and move away from the Amazon accounting tactic that helped create it.
When Amazon launched the Echo smart home devices with its Alexa voice assistant in 2014, it pulled a page from shaving giant Gillette’s classic playbook: sell the razors for a pittance in the hope of making heaps of money on purchases of the refill blades.
A decade later, the payoff for Echo hasn’t arrived. While hundreds of millions of customers have Alexa-enabled devices, the idea that people would spend meaningful amounts of money to buy goods on Amazon by talking to the iconic voice assistant on the underpriced speakers didn’t take off.
Customers actually used Echo mostly for free apps such as setting alarms and checking the weather. “We worried we’ve hired 10,000 people and we’ve built a smart timer,” said a former senior employee.
As a result, Amazon has lost tens of billions of dollars on its devices business, which includes Echos and other products such as Kindles , Fire TV Sticks and video doorbells, according to internal documents and people familiar with the business.
Between 2017 and 2021, Amazon had more than $25 billion in losses from its devices business, according to the documents. The losses for the years before and after that period couldn’t be determined.
It is a high-stakes miscalculation the tech giant made under founder Jeff Bezos that current CEO Jassy, who took the helm in 2021 , is now trying to change. As part of a plan to reverse losses, Amazon is launching a paid tier of Alexa as soon as this month, a move even some engineers working on the project worry won’t work, according to people familiar with those efforts.
An Amazon spokeswoman said the devices division has established numerous profitable businesses and is well-positioned to continue doing so, adding: “Hundreds of millions of Amazon devices are used by customers around the world, and to us, there is no greater measure of success.” The company declined to make Jassy or Panos Panay, who leads devices, available for an interview.
As Jassy tries to fix it, he is rethinking the obscure Bezos-era metric inside Amazon that helps explain why Echo and other devices could accrue such huge losses for so long with little repercussion. Called “downstream impact,” or DSI, it assigns a financial value to a product or a service based on how customers spend within Amazon’s ecosystem after they buy it.
Downstream impact has been used across Amazon business lines, from its Prime membership program to its video offerings and music.
The metric was developed in 2011 by a team of economists including an eventual Nobel Prize winner. In some instances, the model worked clearly. When customers buy Amazon’s Kindle e-reader—one of Amazon’s profitable devices—they are very likely to then buy ebooks to read on that device. Ebooks are part of the books business, not the devices business, but Amazon leaders said it made sense for the Kindle team to claim part of revenue when assessing their product’s internal value.
Similarly, some revenue from advertisements displayed on Fire TV streaming devices is also claimed as Fire TV revenue.
Some Amazon devices can count on direct revenue, such as by selling users subscriptions attached to the product. More than half of customers who buy smart-camera doorbells from Ring, another profitable Amazon device that the company bought in 2018, purchase security subscriptions.
In other cases—especially Echo devices—the downstream impact idea broke down, said the people familiar with the devices business.
Unlike the revenue, operating profit and other financial metrics Amazon and other companies report publicly, downstream impact is an estimate used internally, and not a particularly scientific or precise one.
Echo and other devices are generally sold at or below the cost to make them. The devices team, in internal pitch meetings to senior management, would claim the top end of a range of estimated revenue from downstream impact, some of the people said. The team relied heavily on the metric to justify costs related to Echo and other devices and the growing size of staff devoted to the business, which at one point swelled to more than 15,000 employees across all its products.
The system also enabled divisions to count the same revenue more than once, according to former executives. For example, if a customer bought an Echo device and Amazon’s Fire TV streaming stick, and then signed up for Amazon Prime, both the Echo team and the Fire TV team could claim cuts of the revenue from the Prime subscription.
Other downstream impact revenue that helped Echo devices look financially better on paper internally came from Amazon Music, a Spotify competitor with a $10 monthly subscription version.
The devices team also claimed a piece of shopping revenue, because people can use Alexa to order or reorder goods—though former employees on the Alexa shopping team say that doesn’t contribute meaningful e-commerce revenue.
The Amazon spokeswoman said more than half of Echo owners have used it to shop but declined to answer questions on how much they buy or how often they do so.
“Basically DSI was the golden thing that kept us all afloat all these years,” said a former longtime Amazon employee who worked on Echo.
Amazon’s devices operation was a pet project of Bezos, and the Alexa voice assistant and the Echo speakers through which it communicated were inspired by his interest in the spaceship computer in “Star Trek.”
“When launching products back then, we didn’t have to have a profit timeline for them,” said a former longtime devices executive. “We had to get the system in people’s homes and we’d win. Innovate, and then figure out how to make money later.”
To do that, the team had to keep prices low. Amazon sometimes even gave away versions of the smart speaker as part of promotions in a bid to get a larger base of users.
“We don’t have to make money when we sell you the device,” former Amazon devices senior vice president Dave Limp told The Wall Street Journal in 2019. “Instead, we make money when people actually use the device.”
Amazon was up against competition from giant rivals including Google, whose line of smart speakers was priced very low. Both companies were trying to grab space in as many homes as possible. “We were constantly checking their pricing. There would be water cooler talk like ‘what are we trying to [do], race Google to the bottom?’” said a former person on the Echo team.
Bezos protected the devices team, even as losses mounted, said people familiar with the unit, continuing investment and expanding staffing.
In 2018, devices lost more than $5 billion. It was spending lavishly to develop devices such as an in-home robot eventually named Astro that could act as a smart butler. Unveiled in 2021 but still sold only by invitation, Astro boasts a $1,600 price tag and more than $1 billion in total development costs. This month, Amazon killed off its Astro for Business product.
An Amazon spokeswoman denied Bezos shielded the devices business or treated it any differently than Amazon’s other businesses.
Despite Bezos’ well-known mantra to take risks and “fail fast,” the losses racked up over years. Customers weren’t shopping on the device, and attempts to sell services such as security through Alexa also floundered. Pushing advertisements through the smart speakers bothered users, so Amazon limited their use.
In 2019, device losses increased to more than $6 billion, according to internal documents. Still, the device team introduced new products, such as the Luna gaming streaming service with corresponding devices and the Halo fitness tracker.
Jassy, who had headed Amazon’s lucrative cloud-computing business before becoming CEO, has a reputation as an operator laser-focused on profits.
Soon after taking the reins from Bezos three years ago, he did a profitability review of Amazon’s business lines, from retail and logistics to advertising. He zeroed in on the money-losing devices business , the Journal has reported.
Teams working on new devices without a clear path to profitability were disbanded. Those working on more mature products that weren’t showing revenue or profits were instructed to develop revenue streams. Jassy often asked leaders to demonstrate a path to profitability without using downstream impact as a crutch, according to people familiar with the discussions.
In October 2022, Amazon killed off Amazon Glow, a video-calling gadget that was losing money on each sale—and wasn’t recouping the losses when customers used it or paid a fee for content. The product had launched only a year earlier. Jassy had told the team that he wanted it to be profitable before downstream impact.
The Amazon spokeswoman said the company plans to continue measuring the success of its businesses in part by how they help other parts of the company grow.
In late 2022, Amazon’s senior team put plans in place to begin laying off corporate employees in order to shore up profits across Amazon. Devices were a focus of the cuts.
More devices were shut down last year, including the Halo, Amazon’s fitness wearable. In late 2023, Limp, the Amazon devices head, left Amazon after more than 13 years at the company. He said in a note to employees that “It’s not because I am less bullish about the devices and services business.”
Jassy’s team also zeroed in on Alexa and the Echo device. While the technology behind Echo is wildly popular—there are more than 500 million Alexa-enabled devices globally—Jassy urged the teams to find ways to monetise the device and its technology.
A group was assembled under Amazon vice president Heather Zorn to create a way to charge customers a fee for Alexa. Code-named “Banyan,” like the tree, the group has been working to create a product called “Remarkable Alexa,” that would be built on an entirely new technology stack and have more capabilities than the current version of Alexa installed on Amazon devices, according to people familiar with the matter. Business Insider previously reported some details about Remarkable Alexa.
The new technology would more seamlessly allow users to control functions like smart home devices using their voices rather than opening an app. It will also incorporate generative artificial intelligence more than the current Echo experience. Bezos hinted at a new version of Alexa in a podcast interview in December. “Alexa is about to get a lot smarter,” he told the host.
Zorn’s team is slated to launch the new Alexa subscription service as soon as this month, and the team is still figuring out what it should charge, according to one of the people.
One person who worked on the team said some members were skeptical about whether customers would want to pay for yet another subscription in an age of cord-cutting, since people already pay a la carte for subscriptions such as Netflix, Spotify and even Amazon’s own services Prime and Amazon Music. The person also said some members worried that the new Alexa didn’t offer a compelling enough product worth paying for.
“The technology isn’t there, but they have a deadline” to launch the product, the person said.
The Amazon spokeswoman said that Amazon is closer than ever to building the world’s best personal assistant and that the opportunity is greater than what would appear on a balance sheet.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
This includes its extensive selection of licensed partnerships, brand collaborations and in-store experiences.
Alshaya Group, a leading global retail franchise operator, has announced a strategic partnership with renowned international fashion retailer Primark to explore the possibility of introducing its stores to the Middle East.
John Hadden, CEO, Alshaya Group said: “We are incredibly proud to partner with Primark to discuss potential opportunities to bring their stores to the region. For many years, shoppers across the region have asked for Primark and we are looking forward to the start of a successful partnership to help bring their exceptional in-store experience to the GCC.”
Primark, originally founded in Dublin, Ireland, 55 years ago, now operates over 450 stores across 17 markets, offering customers great value essentials and high-quality fashion ranges at affordable and accessible prices for everyone. This includes its extensive selection of licensed partnerships, brand collaborations and in-store experiences.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Both companies are promoting hydrogen infrastructure development.
BMW is set to introduce its first-ever series production fuel cell electric vehicle (FCEV) in 2028, offering customers a new all-electric powertrain option with zero local emissions.
The BMW Group and Toyota Motor Corporation are combining their innovative expertise and technological capabilities to develop a new generation of fuel cell powertrain technology. Both companies are committed to driving the hydrogen economy forward and have strengthened their collaboration to advance this locally emission-free technology.
The BMW Group’s leadership in electric drive technologies is reflected in its continued efforts to enhance hydrogen fuel cell systems, embracing a ‘technology-open’ approach to provide customers with diverse mobility solutions for the future.
“This is a milestone in automotive history: the first-ever series production fuel cell vehicle to be offered by a global premium manufacturer. Powered by hydrogen and driven by the spirit of our cooperation, it will underscore how technological progress is shaping future mobility,” said Oliver Zipse, Chairman of the Board of Management of BMW AG. “And it will herald an era of significant demand for fuel cell electric vehicles.”
Koji Sato, President and Member of the Board of Management (Representative Director) Toyota Motor Corporation, said, “We are pleased that the collaboration between BMW and Toyota has entered a new stage. In our long history of partnership, we have confirmed that BMW and Toyota share the same passion for cars and belief in ‘technology openness’ and a ‘multi-pathway’ approach to carbon neutrality. Based on these shared values, we will deepen our collaboration in efforts such as the joint development of next-generation fuel cell systems and the expansion of infrastructure, aiming for the realization of a hydrogen society. We will accelerate our efforts together with BMW and partners across various industries to realize a future where hydrogen energy supports society.”
Shared powertrain technology utilized across individual models to offer attractive FCEV options.
The BMW Group and the Toyota Motor Corporation will jointly develop the powertrain system for passenger vehicles, with the core fuel cell technology (the individual third-generation fuel cells) creating synergies for both commercial and passenger vehicle applications. The result of this collaborative effort will be utilized in individual models from both BMW and Toyota and will expand the range of FCEV options available to customers, bringing the vision of hydrogen mobility one step closer to reality. Customers can expect the BMW and Toyota FCEV models to maintain their distinct brand identities and characteristics, providing them with individual FCEV options to choose from. Realizing synergies and amalgamating the total volume of powertrain units by collaborating on development and procurement promises to drive down the costs of fuel cell technology.
BMW will launch its first hydrogen-powered production model in 2028.
After successfully testing the BMW iX5 Hydrogen pilot fleet worldwide, the BMW Group is now preparing for series production of vehicles with hydrogen drive systems in 2028 on the basis of the jointly developed next-generation powertrain technology. The series production models will be integrated into BMW’s existing portfolio, i.e. BMW will offer an existing model in an additional hydrogen fuel cell drive system variant. As FCEV technology is another electric vehicle technology, the BMW Group explicitly views it as complementing the drive technology used by battery electric vehicles (BEV) and next to plug-in hybrid electric vehicles (PHEV) and internal combustion engines (ICE).
A new level of partnership.
The BMW Group and the Toyota Motor Corporation can look back on over a decade of trusting and successful collaboration. Building on this, the companies are now extending their cooperation to accelerate innovation of next-generation fuel cell powertrain systems and pioneer this new technology.
Shared vision of advancing the hydrogen economy.
The pathway to realizing the full potential of hydrogen mobility includes its use in commercial vehicles and the establishment of a refueling infrastructure for all mobility applications, including hydrogen-powered passenger vehicles. Recognizing the complementary nature of these technologies, the BMW Group and the Toyota Motor Corporation are supporting the expansion of both hydrogen refueling and battery electric vehicle charging infrastructure. Both companies are encouraging sustainable hydrogen supply by creating demand, working closely with companies that are building low-carbon hydrogen production, distribution, and refueling facilities.
The BMW Group and Toyota Motor Corporation are advocating the creation of a conducive framework by governments and investors to facilitate the early-stage penetration of hydrogen mobility and ensure its economic viability. By promoting the corresponding infrastructure, they aim to establish the FCEV market as an additional pillar alongside other powertrain technologies. Furthermore, the companies are seeking regional or local projects to further drive the development of hydrogen infrastructure through collaborative initiatives.
Benefits of hydrogen-powered technology.
Hydrogen is recognized as a promising future energy carrier for global decarbonization. It acts as an effective storage medium for renewable energy sources, helping to balance supply and demand and enabling a more stable and reliable integration of renewables into the energy grid. Hydrogen is the missing piece for completing the electric mobility puzzle where battery electric drive systems are not an optimal solution.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Interior designer Thomas Hamel on where it goes wrong in so many homes.
Top Furniture and Interior Design Show Features Stellar Brand Lineup, B2B Matching and Inspiring Emerging Innovations.
The excitement is building as the third edition of FIND – Design Fair Asia, the pinnacle of Singapore Design Week, is set to unfold at Marina Bay Sands from 26 to 28 September 2024. This year, FIND is poised to present over 300 brands, heralding a new era of design with an array of cutting-edge manufacturers, fresh collections, sustainable innovations, and exclusive design collaborations.
FIND’s notable evolution since its debut reflects its growing prominence, offering an exceptional platform for interior designers, architects, developers, hospitality professionals, and design enthusiasts.
Pre-registration has just opened for attendees, who will witness the future of Asian design and benefit from networking with industry leaders from across Asia. Visiting professionals can also attend captivating talks at the three-day FIND Global Summit, with opportunities for professional development (CPD points), engage in B2B matchmaking for qualified VIP buyers, and explore a vibrant marketplace, making it an essential event for the design community.
Global Spotlight on Country Representations and New Brands Country pavilions making their mark at FIND this year include Czech Republic, Italy, Portugal, Singapore, and Indonesia, along exhibitors from Belgium, China, Germany, Hong Kong, India, Japan, Malaysia, New Zealand, Philippines, Taitong Province, Thailand, and Vietnam. These representations underscore the fair’s role as a catalyst for expanding business in Asia Pacific.
B2B Matching: Fueling Business Connections
The fair’s B2B matchmaking service is a cornerstone, offering qualified VIP buyers’ bespoke meetings with exhibitors, igniting business opportunities and fostering meaningful connections. Interested parties can pre-arrange these business encounters and apply online.
Indonesian Culture and Design Debuting at FIND 2024
The Indonesia Pavilion, a collaborative showcase by Indonesian Contemporary Art and Design (ICAD) with HDII DKI Jakarta (Indonesian Interior Designers Association) and written.id, is a celebration of Indonesia’s cultural richness. This pavilion features innovative companies including Cellux, a ceiling interior designer; Manawa, a luxury decorative lighting company and Viro, a materials specialist focused on tropical architectural synthetics.
“The Indonesia Pavilion represents the first collaborative effort by ICAD, HDII Jakarta, and written.id to showcase Indonesia’s rich diversity at FIND – Design Fair Asia. This curated pavilion highlights Indonesia’s culture and resources through a contemporary and inspiring lens, featuring a wide range of local handmade products, crafts, and interior materials that collectively offer a unique perspective on Indonesia’s design landscape,” say representatives of ICAD, HDII Jakarta, and written.id.
From Iconic Objects for Designer Bathrooms to Innovative, Sustainable New Collections Axor, designed by the renowned Philippe Starck and part of Hansgrohe, will showcase its AXOR ShowerComposition at the fair. This innovative collection introduces a modern, timeless design language to the shower area with sleek, flat surfaces and ultra-slim profiles. It offers flexible configurations, from all-in-one shower panels to personalised floating modules, featuring immersive PowderRain spray modes and adjustable shoulder showers. This elegant and functional design provides maximum performance using minimal materials, allowing for exceptional individual expression and adaptability in the shower space.
Distributor Deluxe Systems is at the forefront of innovation, offering high-quality window and door systems that embody Italian craftsmanship and contemporary sustainable design. As the official distributor for Faraone, Ponzio, Flessya, Chirenti, and Dimensione Serramenti, they bring to the fair a range of sliding doors, interior doors, entrance doors, and hinged windows.
Visitors will also be thrilled to discover numerous new exhibitors, including Takesada Shoten, a bamboo workshop with a remarkable 140-year history from Kyoto; Avenir Maison a purveyor of customized furniture and soft furnishing; Chee Geen, a design and build studio focused on future of kitchen design, Lighting specialists D’SOL, handcrafted illumination installations from Portugal’s SERIP; Vatalli providing state of the art office solutions or Czech bespoke lighting brand BOMMA amongst many more.
Returning Innovators
Umbrosa is set to captivate audiences at this year’s fair with their innovative approach to outdoor living spaces. Known for their high-quality shade solutions, Umbrosa will be unveiling three new parasol designs, including fresh additions to their Versa UX and Infina UX collection. Their recent collaboration with world-renowned designer Karim Rashid, introducing the stylish round pink umbrella, highlights their commitment to creativity and excellence, cementing their position as pioneers in the industry.
Leading producer of handmade rugs from India Jaipur Rugs will showcase three distinctive collections: the Majnun collection by Pavitra Rajaram, Unfold by Kavi, and globally acclaimed Manchaha. The Majnun collection, celebrates the rich heritage of rug-making traditions across the Indian Subcontinent and the Silk Route and pays tribute to historic design traditions. Visitors can also look forward to The Unfold by Kavi collection which draws inspiration from the Modernism movement combining design and art together with functionality. Finally, the Manchaha collection is a unique fusion of design and social impact, allowing weavers to express their creativity.
“We joined FIND since the event’s launch in 2022, coinciding with the start of our operations in Singapore. We believe this platform is excellent for connecting with interior designers, architects, and buyers across Southeast Asia. With our new showroom and office on Amoy Street, this edition is crucial for sharing our brand stories about the artisans, how we empower them, and our efforts to conserve the centuries-old art form of handmade rugs,” says Arun Hemrajani, Senior Manager – International Business, Jaipur Rugs.
Visitors can also expect other returning exhibitors such as AM Furnishing, Chomcharm, Cycling Bears, Don Don Style, Exquisite Art, Exterpark, EXSTO, Formica, InExpat, JEB Asia, Knights Craft, Merawood Industries, Miltan Asia, Olivia Collins, ReCasa Group, Sam & Sara, Take a Seat, Trees Interior, Wallhub, Woodos and World of Wood. Taiwan’s Taitung Province will also return with an entourage of homegrown brands.
“In its third year, FIND – Design Fair Asia has made significant strides, providing new avenues for brands to engage with the dynamic Asian market. With strengthened partnerships and improved offerings, it has become a key event for the interiors industry. With Singapore’s reputation as a design hub, FIND – Design Fair Asia is essential for anyone passionate about this industry. We’re excited to see even more attendees in 2024, discover new designs and welcome top professionals,” said Carl Press, Event Director of FIND – Design Fair Asia, dmg events.
The third edition of FIND – Design Fair Asia is expected to draw 15,000 visitors and will take place at Marina Bay Sands, Sands Expo & Convention Centre, Level B2 from 26 to 28 September 2024. Pre-register for free before 26th September 2024. On-site, same day entry is available at S$39 per person to the B2B event. The last day also offers B2C goers an opportunity to discover unique interiors for their own home spaces. https://www.designfairasia.com/
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Following the devastation of recent flooding, experts are urging government intervention to drive the cessation of building in areas at risk.
This event, reaffirms Almajdouie’s commitment to meeting the needs of the logistics sector in the country.
Almajdouie Motors Company took part in the Saudi Warehousing and Logistics Expo, held at the Riyadh International Convention and Exhibition Centre from September 2 to 4, 2024, under the patronage of the Federation of Saudi Chambers.
Almajdouie’s presence at the Kingdom’s largest logistics event represents a significant step in enhancing its market position and underscores its dedication to serving the logistics sector’s evolving needs.
This participation is in line with Almajdouie Motors’ expansion plans, which focus on offering advanced solutions and vehicles that adapt to market trends and customer demands. The Saudi Warehousing and Logistics Expo provided an excellent opportunity to showcase state-of-the-art innovations in transportation and logistics services.
In the presence of the Chairman of the Federation of Saudi Chambers, Mr. Hassan Alhwaizy, Almajdouie Motors Company unveiled two new models: the Peugeot Partner and the Citroen Berlingo 2025. These models were designed to cater to the Saudi market, combining high performance and superior reliability, making them the ideal choice for logistics and commercial operations. Both models boast numerous advantages, including a spacious cabin, practical design, powerful performance, and advanced technology.
Almajdouie Peugeot and Citroen emphasized the importance of this event as an opportunity to engage with customers and partners in the Saudi market, with the aim of strengthening these partnerships and providing the best solutions to meet the needs of the Kingdom’s logistics sector.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Now offering certified Halal, Indian vegetarian, and international dining services.
Resorts World Cruises has announced the launch of Resorts World One in the Middle East, during their first press conference in Dubai, supported by the Dubai Department of Economy and Tourism (DET).
Beginning on 1 November 2024, the ship will be based in Dubai at DP World’s Mina Port Rashid, offering three weekly departures. These include the 2-Night Sir Bani Yas Weekend Cruise (Friday departures), the 3-Night Oman (Khasab-Muscat) Cruise (Sunday departures), and the 2-Night Doha Cruise (Wednesday departures). For those seeking longer cruise vacations, guests can combine itineraries to create 4, 5, or 7-night voyages.
As “The Cruise Line that knows Asia Best,” Resorts World Cruises leverages decades of international expertise to cater to the Gulf market’s preferences and needs. Muslim guests will be pleased to know that upon starting its operations from Dubai, Resorts World One will be officially certified as a Halal-Friendly Cruise Ship under the OIC/SMIIC* Standard. Guests can enjoy certified Halal cuisine sourced from UAE suppliers, along with other Halal-friendly services, such as same-gender facilities in selected areas. Additionally, certified vegetarian and Jain meals will be available. Public announcements will be made in both English and Arabic for the convenience of all passengers, and shisha will also be available onboard.
“These are exciting times for Resorts World Cruises, as we inch closer to the start of our first sailing from Dubai to the Gulf with the Resorts World One on 1 November. The response from the Gulf and from various markets in Asia, including from our travel partners have been very encouraging and we look forward to welcoming guests aboard soon”, said Mr. Michael Goh, President, Resorts World Cruises. “Our deployment in the Gulf will unlock new opportunities for Dubai and the Gulf as a premiere cruise region. We look forward to this journey together, as we boost inbound and outbound travel for the cruise tourism sector,” he added.
Saud Mohammed Saeed Hareb, Cruise Tourism & Yachting Lead, Dubai Department of Economy and Tourism, said: “Inspired by our visionary leadership and with the continuous support of our partners, cruise tourism continues to play a pivotal role in the growth of Dubai’s tourism industry, aligning with the goals of the Dubai Economic Agenda, D33, to further consolidate Dubai’s position as a leading global city for business and leisure. This strategic partnership with Resorts World Cruises is a testament to our commitment to bring increasingly diverse cruise experiences to our city, underlining Dubai’s position as the cruise hub of the region. We appreciate the efforts of the cruise line in fully assessing the needs of the market and offering a comprehensive world-class holiday to travelers from the region and around the world. We look forward to welcoming the first passengers onboard Resorts World One and providing them the opportunity to enjoy an unforgettable experience, particularly in Dubai itself where they will begin and end their cruise journeys and be able to take advantage of the wide range of offerings across the city.”
Resorts World Cruises will introduce its brand of renowned Asian hospitality to the Gulf, providing international cruising lifestyle experiences, with adaptation for the regional markets being served. The commencement of Resorts World One on 1 November also coincides with Diwali, one of India and Asia’s major festivals, which will also attract a wider expat demographic in the region and the inbound Fly-Cruise segment to Dubai.
Aboard the Resorts World One, guests can expect a vibrant mix of performances and entertainment, thoughtfully curated to reflect the cultural richness of both the Gulf and Asia. The ship’s inaugural departure will coincide with Diwali, allowing passengers from the Gulf and across Asia to immerse themselves in the Festival of Lights. Throughout the week, the ship will be adorned in colorful Diwali decorations and will offer a host of themed activities, entertainment, and a special “Gujarat food festival,” complete with traditional sweets and desserts.
The festivities kick off with a high-energy ‘Dazzling Departure Party,’ setting the tone for a journey filled with day-to-night celebrations. Highlights include the enchanting ‘Twilight Soirée,’ an elegant dinner show party, and the immersive ‘Enchanting Arabian Nights Party,’ where Arabian culture, music, and tradition come to life. Other themed events include the lively ‘Sand & Oasis Party,’ the ever-popular ‘Bollywood Party,’ and the playful ‘Foam Party’ and ‘Rain Party.’ Families can also join in on the fun with events like the ‘Family Pyjama Party under the Stars.’
The entertainment doesn’t stop there. Passengers can enjoy dazzling stage productions such as ‘Trustfall,’ ‘Rhythm & Balance,’ and ‘Love Matters,’ showcasing stunning choreography and visuals. For those looking to learn something new, there are various dance classes on offer, including Belly Dancing, Ballroom, Japanese, and Flamenco styles, as well as a range of family-friendly activities like Kids, Teen, and Family Karaoke, outdoor inflatable games, and the Little Dreamers edutainment program.
While aboard, guests will also have the opportunity to explore some of the Gulf’s most captivating destinations. A weekend stop at Sir Bani Yas Island offers a chance to enjoy pristine beaches and the island’s wildlife park, home to over 17,000 animals. Other itineraries include visits to Oman’s stunning cities of Muscat and Khasab, known for their majestic mountains, sandy beaches, and rich historical heritage. Passengers can also cruise to Doha, Qatar, where modernity meets tradition, with activities ranging from dune bashing to camel racing.
“The Omani Ministry of Heritage and Tourism with their key partners is playing a significant role in preparations to ensure a genuine experience and hospitality for Resorts World Cruises in Khasab and Sultan Qaboos Ports from November 2024 to April 2025. This endeavor holds immense significance for Oman in their respective plans to operate 11 ports in the future,” said Mr. Khalid Al Azri, Director of Tourism Trends Department, Ministry of Heritage and Tourism, Oman.
“We are excited to welcome Resort World Cruises to Doha for the first time. Renowned for its international experiences and expertise to cater to the needs of its passengers, we are eagerly waiting for her debut across the region. Qatar Tourism’s Cruise Season 2024-2025 is expected to be the largest yet, as the season will see many maiden cruises as well as returning cruise ships gracing ‘The Terminal’. We will be updating visitors with all the new offerings soon,” said Maryam Saoud, Head of Tourism Product Support Section at Qatar Tourism.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Reinforcing its commitment to developing incomparable, immersive experiences for everyone.
Qatar Airways has launched new global ‘AI Adventure’ film which utilizes state-of-the-art technology to reinforce its commitment to developing incomparable, immersive experiences for everyone.
In an industry first, this campaign allows viewers to become part of the film’s emotional storyline by leveraging advanced AI, enabling you to place yourself in the story as the star. This underscores the airline’s focus on putting customers at the centre of its innovations.
As part of this unique campaign, viewers can choose from various scenes to play the lead roles. Thanks to advanced AI, the characters are tailored to accurately reflect the viewer’s facial features and skin tone. To join this emotional AI adventure, visit flyqatar.com and watch the film on Qatar Airways’ YouTube channel.
Qatar Airways Group Chief Executive Officer, Engr. Badr Mohammed Al Meer, said: “At Qatar Airways, we go beyond simply meeting customer expectations – it’s about anticipating their needs and crafting experiences that resonate on a personal level. The launch of this new brand campaign is a true testament to this and our ethos of providing incomparable superior customer experiences.”
Qatar Airways Chief Commercial Officer, Thierry Antinori, added: “Featuring pioneering AI capabilities unseen elsewhere in the airline industry, our latest campaign not only showcases the innovative spirit driving our brand, but also encapsulates our customer-centric approach, helping to turn every journey into an adventure. After all, there’s no limit to how far a dream can take you,” added.
Qatar Airways Senior Vice President of Global Marketing & Corporate Communications, Babar Rahman, said: “With this latest campaign, we have been able to encapsulate our vision as an industry leader in innovation. Crafting an immersive brand experience where everyone can be the stars, has allowed us to create uniquely personalized connections with our audiences, ensuring every moment is truly unforgettable.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
The All-New Nissan Patrol is a mark of prestige, embodying a premium design aesthetic.
Nissan has marked a new era for the legendary Patrol with the launch of its all-new, seventh-generation model, blending heritage with cutting-edge innovation. The vehicle made its global debut at an exclusive event in Abu Dhabi, where Makoto Uchida, President and CEO of Nissan Motor Co., Ltd., revealed the model to an audience that included royals, VIPs, global Nissan executives, dealers, partners, media, customers, and employees.
This latest version of the Patrol boasts several groundbreaking features, such as an eye-catching new design, a robust V6 twin-turbo engine, a 9-speed automatic transmission, and customizable adaptive air suspension for superior off-road performance. The vehicle is packed with advanced technologies, including NissanConnect 2.0 with Google built-in, ProPILOT, and a Klipsch Premium Audio System, ensuring a top-tier driving experience paired with luxurious comfort inside its premium cabin.
Makoto Uchida, president and CEO, Nissan Motor Co., Ltd., said: “The all-new Patrol is a prime example of the exciting and empowering models we are delivering under our global business plan, The Arc. The seventh generation is a bold leap forward, blending unparalleled performance, cutting-edge technology and a commanding presence to redefine what an SUV can be. With its history of more than 70 years, the Patrol perfectly embodies our corporate purpose of ‘Driving innovation to enrich people’s lives.”
Thierry Sabbagh, Divisional Vice President, President Middle East, KSA – Nissan, INFINITI, said: “The Nissan Patrol is more than just a vehicle in the Middle East; it is a symbol of adventure, pride, and resilience. This latest model captures the true spirit of what makes this iconic nameplate legendary – an enduring legacy of deep connections built over decades of shared experiences and memorable journeys across diverse terrains. It reflects Nissan’s dedication to creating automotive experiences that resonate with our customers – and we are proud to present this next chapter in the Patrol’s remarkable journey.”
An Icon Built for Adventure
The All-New Nissan Patrol is a mark of prestige, embodying a premium design aesthetic that elevates its unmissable road presence, delivering a captivating visual impact that bridges the brand’s heritage with a forward-thinking vision. Capturing the essence of Nissan’s global design philosophy, the All-New Patrol’s exterior styling enhances its distinctive silhouette to showcase an ‘unbreakable’ appearance reflective of its rugged capability, characterized by bold and sculpted lines, balanced proportions and impressive approach and departure angles.
Meticulously crafted, every aspect of the all-new Patrol exudes a sense of strength and durability. Nissan’s signature V-motion grille takes center stage, now wider and more integrated into the body, and flanked by enhanced Double C-shaped headlights featuring Adaptive Driving Beam (ADB) technology to ensure optimal visibility. Complementing this is the Patrol’s rear façade, which echoes the front grille with a full-width light bar that draws attention with its segmented design.
The Patrol’s formidable stance is accentuated by available 22-inch alloy wheels, which not only enhance its road presence, but also provide high ground clearance for superior off-road performance.
The All-New Nissan Patrol offers an array of seven striking exterior colors, each developed to enhance its dynamic appearance. The addition of four vibrant two-tone options to the exterior color palette offers increased personalization, enabling drivers to express their unique style while evoking a sense of authority and elegance.
Nissan’s commitment to thoughtful design is evident with Puddle Lamp, which auto-activates as the occupants approach the vehicle with the key fob or on unlocking the doors. The lamp illuminates a special throwback motif featuring the iconic Nissan Patrol silhouette in the desert, and the text “Since 1951” signifying the SUV’s production history. This feature is a nod to the Japanese principle of omotenashi, or thoughtful hospitality, ensuring that every interaction with the Patrol feels special and welcoming.
Alfonso Albaisa, Senior Vice President for global design, Nissan Motor Co., Ltd said: “The all-new Nissan Patrol projects strength, poise and confidence. We have worked hard to ensure that it continues to be instantly recognisable globally as the icon of premium off-road adventure. Its new design carries the heritage of six generations of unmatched all-wheel drive capability, comfort and prestige. It raises the bar in terms of attention to detail, materials and fit and finish. Customers who love effortless exploration will immediately fall in love with the new Patrol.”
Ivan Espinosa, Chief Planning Officer, Nissan Motor Co., Ltd said: “As Nissan’s oldest nameplate and knowing the reverence in which the Patrol is held, the new seventh generation brings more performance, with better fuel economy, as well as outstanding and easy to use tech. The all-new Patrol is a technical tour de force combined with craftmanship, precision and practicality. It will transport families and friends in effortless comfort across the most demanding dunes, challenging mountains or busy urban jungle. Drivers and passengers will relish the ride – regardless of the destination.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
The first professional baseball field in the history of the Middle East and South Asia
Baseball United, the first professional baseball league dedicated to the Middle East and South Asia, has announced its plans to construct the region’s first professional baseball field and ballpark. This landmark ballpark will be built at The Sevens sports and entertainment complex, located on Al-Ain Road (E66), a short distance from downtown Dubai.
The new ballpark will not only be the first of its kind in the UAE and GCC but will also be the only professional baseball venue across a vast region spanning over 10,000 km, from Morocco in North Africa to India, Bangladesh, and several countries in Southwest Asia.
Tentatively named Baseball United Ballpark, with naming rights negotiations ongoing, the field will feature a state-of-the-art synthetic turf with dual fibre and organic infill, designed to perform in Dubai’s high temperatures. It will be illuminated by an LED lighting system producing over 15 million lumens across eight towers and 94 fixtures, incorporating the latest BallTracker® technology. The ballpark will also have a flexible seating arrangement, accommodating up to 6,500 spectators.
Baseball United will construct above-ground dugouts, foul lines and foul poles, and a professional grade netting system. In addition to a state-of-the-art LED content wall, the new ballpark will include a traditional scoreboard modeled after 19th century professional games in the U.S. The ballpark will include four different seating sections, including the ultra-premium Diamond Club, optimal sight-line Infield Boxes, value-priced Outfield Boxes, and Baseball United’s signature VVIP On-Field Cabanas.
“Our league has brought together so many powerful ingredients to help make baseball the Middle East and South Asia’s next great sport,” said Kash Shaikh, Chairman, CEO, and Co-Founder, Baseball United. “From our passionate fanbase and legendary co-owners, to our world-class players and historic franchises, we’ve worked hard to bring the best of baseball to Dubai. The only thing that has been missing was a place to call home. We wanted a true, purpose-built baseball ballpark that can serve as the launchpad for professional baseball across the region. We wanted something that was entrepreneurial and right-sized, that combined new technology while paying homage to baseball’s 150 years tradition. Thanks to the hard work of our team and the shared vision of our incredible partners, we can now make that dream a reality.”
The ballpark’s dimensions were modelled after Yankee Stadium, one of the most iconic baseball stadiums in the world, with the fences measuring 318 feet (97 m) to left field, 314 feet (96 m) to right field, and 408 feet (124 m) to centre field.
The playing field will be named after Major League Baseball legend and Baseball United Co-Founder and Board Member, Barry Larkin. Larkin, who teamed with Shaikh, John Miedreich, and Mariano Rivera to create Baseball United in 2022, is one of the best shortstops in the history of the game, making 12 All-Star Teams and winning three Gold Glove Awards. Larkin was World Series Champion and the 1995 National League MVP. He was inducted into the Baseball Hall of Fame in 2012.
““I am truly honored to have my name associated with this historic field,” said Larkin. “For me, it has been a dream come true to bring this league to life with Kash, John, and the entire Baseball United team. We’ve already played the first professional baseball games in the UAE, and now, to have a field and ballpark of our own – it’s incredible. I can’t wait to step foot on that field later this year.”
Baseball United has teamed with some of the best stadium and pitch builders in the world to create its historic new ballpark. The league will partner with UK-based SIS Pitches on the turf, netting, and overall field development, Iowa (U.S.)-based Musco Lighting on the lighting system, and Dubai-based Al Laith on the seating.
Field construction begins this week, with the field slated to be fully complete by the end of the year. Baseball United’s two signature professional events next year – the Baseball United Cup and Baseball United Season One – will both take place in the new ballpark. Baseball United may also opt to host its Arab Classic national team event at the new ballpark as well this November during the final stages of construction.
Baseball United Ballpark will sit near the cricket ovals at The Sevens, creating the only joint bat and ball complex in the region. The Sevens, located just 30 minutes from Dubai International Airport, is an internationally-recognized sports facility, with eight grass pitches, three grass cricket ovals, and multiple netball, tennis, and basketball courts. The Sevens is home to the Emirates Dubai 7s, one of the region’s largest annual events, attracting crowds in excess of 80,000 over the three days.
“We are excited to partner with Baseball United to make history again here in Dubai,” said Mathew Tait, General Manager, Emirates Dubai 7s & The Sevens Stadium. “Adding baseball to our venue aligns perfectly with our strategy to make The Sevens the region’s premier multi-sport destination. We can’t wait to ‘play ball’ here in Dubai.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
With a strategic partnership agreement with AL TAYER MOTORS
DEEPAL has entered into a strategic partnership with AL TAYER MOTORS, marking a crucial step in its efforts to introduce innovative products to the UAE market and provide local consumers with a state-of-the-art new energy driving experience.
The signing ceremony, attended by representatives from both organizations, was a significant milestone in DEEPAL’s international expansion.
Partnering with AL TAYER MOTORS is a vital extension of DEEPAL’s ‘Vast Ocean Plan’, demonstrating DEEPAL’s firm steps towards a new era of green mobility. AL TAYER MOTORS’ extensive experience in the luxury car market and their deep understanding of customer needs will provide a solid foundation for DEEPAL’s success in the UAE. Both parties will work together to create more innovative new energy driving experiences for UAE consumers, contributing to the development of the local new energy industry, and advancing the UAE’s green mobility vision through innovative technology.
Founded in 2022, the DEEPAL brand is dedicated to becoming a leader in all-scenario smart mobility. With cutting-edge technology and deep insights into customers’ needs, DEEPAL has rapidly emerged in the global new energy market as a driving force behind green mobility. DEEPAL will continue to deliver outstanding technological innovations, intelligent experiences, and enjoyable driving, offering a compelling green mobility experience to consumers in the UAE, and across the Middle East and Africa. DEEPAL will also actively contribute to the UAE’s green mobility vision.
Commenting on this partnership, Ashok Khanna, Chief Executive Officer of Al Tayer Motors, said: “It is a significant milestone for us as we sign the futuristic DEEPAL brand. Their innovative approach to creating world-class EVs with impressive, advanced technology makes this an exciting event for UAE customers. Combined with our extensive automotive industry experience, in-depth understanding of customer requirements and our world-class service standards, we look forward to bringing these technologically advanced EVs to the UAE to support the country’s vision for green mobility.”
DEEPAL has become a favorite among young tech lovers around the world, with its stylish, cutting-edge design and advanced digital technologies. The DEEPAL L07 sedan won the 2023 Red Dot Award for Product Design, and together with the DEEPAL S07, set a new sales record among EV brands in China, surpassing the 100,000-unit milestone within just 14 months of launching. Furthermore, DEEPAL has fully mastered core engine technologies with its DEEPAL Super Range Extender, which offers higher efficiency, lower power consumption, and a more powerful smart driving experience. DEEPAL’s Golden Shield Battery technology ensures enhanced safety, faster charging, and longer battery life, providing users with a safe and smooth journey.
AL TAYER MOTORS is one of the most prestigious luxury car dealerships in the UAE and has been deeply involved in the UAE’s luxury car market, consistently offering exceptional service experiences to customers. DEEPAL is confident that AL TAYER MOTORS will be a key partner in executing its globalization strategy, helping the brand to penetrate the UAE market more deeply and significantly enhancing its influence in the Middle East region.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
New Outbound Travel Trends from Saudi Arabia.
Skyscanner has identified a significant surge in searches and bookings for outbound routes from the Kingdom of Saudi Arabia (KSA) as Saudi travelers continue to explore new destinations. The latest data highlights the top international destinations gaining popularity among Saudi residents, showcasing emerging travel preferences and trends across the region.
According to Skyscanner‘s data, searches for international travel from Saudi Arabia have experienced robust growth throughout 2024. Year-on-year (YoY) comparisons indicate a steady increase in travel interest, with January searches up by 66% compared to the same period in 2023. This upward trajectory continued across subsequent months, with February searches rising by 54.6%, March by 64.7%, April by 54.1%, May by 47.0%, June by 43.3%, and July by 24.8%. This consistent growth demonstrates a sustained interest in international travel among Saudi residents.
In addition to year-on-year growth, month-on-month (MoM) search volumes have also shown strong performance in 2024. May saw a 57% increase in searches compared to April, while June registered a further 62% increase over April’s figures. However, the data also indicates a seasonal shift, with July experiencing a decrease of 33% from June, suggesting fluctuations in travel interest based on seasonal factors.
The data also reveals several top trending routes departing from Saudi Arabia. For September 2024, popular destinations include Kuwait, Manama, Tbilisi, and Sharm El Sheikh. Notably, searches for the Riyadh-Kuwait route increased by 84%, reflecting heightened interest in this particular destination. In October 2024, there was a significant surge in searches for routes to Hyderabad, with Riyadh-Hyderabad searches increasing by an impressive 325%, followed closely by Jeddah-Chennai at 302%. These trends suggest a growing preference for regional destinations that offer both leisure and business opportunities.
Commenting on these findings, Skyscanner’s Travel Expert, Ayoub El Mamoun, said: “The surge in travel searches and bookings from Saudi Arabia is a positive indicator of the growing appetite for international travel among Saudi residents. We’re seeing a strong interest in both regional and long-haul destinations, reflecting a diverse range of travel preferences, from family visits to leisure trips. As airlines continue to expand their networks and introduce new routes, we expect this trend to continue, providing more opportunities for travelers from Saudi Arabia to explore the world.”
Furthermore, Skyscanner’s data highlights the most searched destinations worldwide from Saudi Arabia. The top countries and cities include India, Egypt, Turkey, the UAE, Pakistan, the UK, Thailand, Indonesia, and Italy, with cities such as Cairo, Istanbul, Dublin, London, Jakarta, and Hyderabad standing out as popular choices. Additionally, there has been a notable increase in searches for “Everywhere,” suggesting a burgeoning desire among Saudi travelers to explore new and diverse destinations beyond the traditional favorites.
The introduction of new routes and increased flight frequencies is likely a key driver behind these trends. Expanded connectivity provides Saudi travelers with more options for both leisure and family travel, facilitating easier access to destinations across the Middle East, South Asia, and Europe. This increased choice is reflected in the broad range of destinations now being searched and booked by travelers from Saudi Arabia.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Offering customers unmatched driving experiences with these luxury models.
Automotive enthusiasts and car rental customers in Saudi Arabia have exciting news to look forward to, as Mohamed Yousuf Naghi Motors has entered into a major fleet agreement with Budget. This deal will see a wide range of BMW and MINI vehicles added to Budget’s fleet, enhancing the premium offerings available to customers.
This partnership not only reflects the shared commitment of both companies to delivering top-tier driving experiences but also represents a significant milestone in their collaboration. The agreement aligns with their joint vision, established at the beginning of 2024, of being “Success Partners” throughout the year and beyond.
The fleet includes impressive models such as the BMW 320i Business Edition, the high-performance BMW 735i M Sport Package, and the stylish MINI Cooper 5 Door Hatch, ensuring that Budget’s clients can experience the finest in German engineering and design. Whether for business or leisure, customers will now have the opportunity to enjoy the luxury, performance, and innovation synonymous with BMW and MINI.
Additionally, the fleet delivered to Budget Saudi Arabia features models like the BMW 520i Business, BMW 735i Excellence Line, BMW X2 sDrive18i Business, BMW X4 xDrive 30i M Sport, BMW X5 xDrive 40i M Sport, and the BMW X6 xDrive 40i M Sport. This substantial and diverse fleet is poised to significantly strengthen the presence of BMW and MINI in the Kingdom’s car rental and fleet sector.
David McGoldrick, Managing Director of Mohammed Yousuf Naghi Motors-BMW Group KSA, commented on the partnership news: “We are thrilled to strengthen our relationship with Budget Saudi Arabia as we continue to work together towards the mutual success of our respective brands. This fleet of BMW and MINI cars, including sedans, SUVs, and hatchbacks, not only highlights our strategic focus on expanding our presence in the rental car and fleet market but also delivers the most premium driving options available to Budget’s customers.”
While the partnership aligns with the shared values of both companies – quality, performance, and customer satisfaction – the acquisition of these vehicles is part of Budget’s broader strategy to increase the exposure of BMW and MINI brands in the car hire market, giving more customers the chance to experience the luxury and thrill of driving these iconic cars.
McGoldrick added, “We want Budget Saudi Arabia’s customers to have the opportunity to experience the joy of driving through the exceptional performance and luxury that our vehicles offer. At Mohamed Yousuf Naghi Motors, we remain focused on nurturing business and partnerships in the rental market, and about contributing positively to the economic development of the Kingdom through such initiatives.”
The partnership, set to create a lasting impact in the car rental industry, also reflects the broader success story of the BMW and MINI in the region, with Mohamed Yousuf Naghi Motors leading the way in delivering top-tier automotive experiences in KSA.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
The new lifestyle group to combine best-in-class lifestyle brand leadership and talent with Hyatt’s global distribution network and award-winning World of Hyatt loyalty program.
Hyatt has announced its intent to acquire the brands and the majority of affiliates from Standard International, the pioneering lifestyle company behind The Standard and Bunkhouse Hotels brands. This strategic move solidifies Hyatt’s leadership in the premier lifestyle sector, building on its organic growth and a series of acquisitions that have increased the number of lifestyle rooms in its global portfolio fivefold between 2017 and 2023. The acquisition is expected to close later this year, pending customary closing conditions.
As part of this acquisition, Hyatt will establish a new dedicated lifestyle group headquartered in New York City. This group will be led by Standard International’s Executive Chairman, Amar Lalvani, and will leverage Hyatt’s top-tier operational and loyalty infrastructure while maintaining distinct leadership in key areas such as experience creation, design, marketing, programming, public relations, restaurants, nightlife, and entertainment. The group will include both the talented team from Standard International and Hyatt colleagues, with further details to be announced after the transaction closes.
This acquisition marks another step in Hyatt’s transformation into a brand- and experience-driven company. The portfolio acquired will be entirely asset-light and includes management, franchise, and license agreements for 21 open hotels with approximately 2,000 rooms, including notable properties such as The Standard, London, The Standard, High Line in New York City, The Standard, Bangkok Mahanakhon, as well as boutique gems like Hotel Saint Cecilia in Austin, Texas, and Hotel San Cristóbal in Baja California, Mexico. Following the transaction’s closure, Hyatt plans to integrate these hotels into its World of Hyatt loyalty program, making these celebrated lifestyle properties accessible to its 48 million members.
The sale will conclude a successful investment for Sansiri PLC, which acquired a majority stake in Standard International in 2017 and supported the company’s international growth. Sansiri will retain ownership of several properties that will continue to be managed or franchised under the acquired brands.
“The team behind Standard International has created a unique and award-winning portfolio of brands and properties that turn the status quo on its head and have attracted a loyal following among the most discerning lifestyle guests for the past 25 years,” said Mark Hoplamazian, President and Chief Executive Officer, Hyatt. “These properties truly drive the zeitgeist, creating destinations unto themselves with celebrated and talked-about programming and events, such as the Met Gala afterparty. We are thrilled to welcome Standard International’s properties and team to the Hyatt family with the newly created lifestyle group and draw on their brilliance, creativity, culture and innovation.”
Upon closing, Lalvani will take on the role of President & Creative Director of the lifestyle group, overseeing the integration of the brands to be housed within the group while ensuring and enhancing the integrity, innovation, creativity and growth of each individual lifestyle brand.
Lalvani led the global development of W Hotels and then in 2010 partnered with André Balazs on The Standard brand. In 2013, Lalvani formed Standard International and acquired The Standard brand from Balazs and followed that with an acquisition of a majority stake in The Bunkhouse Group from its founder Liz Lambert and her partners. Thereafter, Lalvani spearheaded the transitions of both companies from founder-led start-ups to globally recognized brands through the development of landmark properties.
“We waited a long time to find the right company with whom to join forces,” said Lalvani. “In choosing Hyatt, we tap into a powerful global infrastructure and loyal guest base. I am very proud that our team has delivered on the potential we saw with The Standard and Bunkhouse Hotels and am honored that Hyatt appreciates how special our brands, properties, and – most importantly – our people are. We have a shared vision for the enormous potential that still lies ahead. I would be remiss not to express my gratitude to Hyatt for taking this bold step forward and to Sansiri who has been instrumental in supporting our efforts.”
In addition to The Standard and Bunkhouse Hotels brands, Standard International’s brand portfolio includes Peri Hotels and its two newest additions, The StandardX, which launched this month in Melbourne, Australia, and The Manner, which launches next month in Soho, New York in time for New York Fashion Week. Beyond its hotel brands, the portfolio includes world-class restaurant and nightlife concepts including The Boom Boom Room, The Standard Grill, The Standard Biergarten, Café Standard, Lido Bayside Grill, Jo’s Coffee as well as iconic rooftop venues including Le Bain, Decimo, Sweeties, UP, Ojo and Sky Beach.
The acquisition includes more than 30 projects with a signed agreement or letter of intent, including new properties expected to open over the next 12 months: The Standard, Pattaya Na Jomtien, The StandardX, Bangkok Phra Arthit, as well as Bunkhouse Hotels Saint Augustine and Hotel Daphne. Standard International has also developed a robust residential business with Standard Residences under development in Miami, Lisbon, Phuket, Hua Hin and Mexico City as well as completed Bunkhouse Residences at the Hotel Saint Cecilia in Austin.
Upon closing, Hyatt will pay a base purchase price of $150 million, with up to an additional $185 million over time as additional properties enter the portfolio. Stabilized fees associated with the base purchase price are anticipated to be approximately $17 million and, to the extent the contingent purchase price is paid, additional stabilized fees are anticipated to be up to approximately $30 million.
In connection with the transaction, Moelis & Company LLC served as financial advisor to Hyatt and Venable LLP acted as its legal advisor.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Alexandre de Betak and his wife are focusing on their most personal project yet.
George Abou Kassm: “AI is reshaping business potentials, turning challenges into opportunities for growth”
The experienced software engineer and the innovative founder of Autobot, Mr. George Abou Kassm, has announced the launch of a groundbreaking AI service in the Gulf Cooperation Council (GCC) today. This cutting-edge AI solution aims to revolutionize business operations by improving customer service and boosting operational efficiency through advanced automation.
Autobot‘s customizable AI solutions are tailored to meet the specific needs of each business, ensuring enhanced customer engagement while simplifying routine tasks. “AI is reshaping business potentials, turning challenges into opportunities for growth,” said George Abou Kassm.
The launch marks a significant step in bringing cutting-edge technology to the GCC market, aligning with initiatives like the launch of the world’s first-ever specialist AI university in the UAE – the Mohamed bin Zayed University of Artificial Intelligence and Saudi Arabia’s Vision 2030. By addressing the unique evolving challenges faced by businesses in the GCC, Autobot is set to become a key player in the region’s digital transformation journey.
Strategic Benefits for GCC Businesses
For business owners, the imperative to embrace AI is clear: it amplifies profits while minimizing costs. Autobot stands out in this regard, offering a suite of services designed to enhance business operations seamlessly.
Ready to Integrate, Easy to Use
With an intuitive interface, Autobot is user-friendly and requires minimal training, allowing businesses of all sizes to benefit immediately. Its integration capabilities ensure seamless adaptation to existing tech stacks, enhancing operations without disrupting current workflows.
“Our goal is to democratize AI, making it accessible and beneficial for every business,” added Abou Kassm. Real-life use cases have shown businesses reporting annual savings ranging from $40,000 to over $130,000, depending on the application.
Join the Digital Transformation
The future of business operations is here, and it’s chatty, efficient, and powered by AI. To explore how Autobot can revolutionize your business, visit Autobot’s website. Embrace the future of business—it’s here and it’s powered by AI.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Sydney’s prestige market is looking up, here’s three of the best on the market right now.
Providing customers with an ideal fusion of advanced technology, luxury, and eco-friendly innovation.
Mercedes-Benz Oman introduced its highly anticipated all-electric range, available in showrooms September 1st, 2024. This launch represents a major advancement in sustainable mobility in Oman, bringing together cutting-edge technology, luxury, and environmental responsibility.
The new all-electric lineup in Oman features the EQA, EQB, EQE Sedan, EQE SUV, EQS Sedan, EQS SUV, and the all-new Mercedes-Benz G 580 with EQ Technology. Each model is designed to cater to diverse preferences and lifestyles, ensuring that every customer can find an electric vehicle (EV) that perfectly matches their needs. The EQA and EQB offer compact versatility, ideal for urban driving, while the EQE and EQS Sedans redefine business sophistication and luxury. For those desiring power and elegance in a commanding presence, the EQE and EQS SUVs deliver an unparalleled driving experience. The G 580 with EQ Technology sets a new benchmark in the EV market, offering rugged off-road capabilities combined with advanced electric technology.
“We are thrilled to bring the future of mobility to Oman by introducing our all-electric range by Mercedes-Benz,” said Shaun Michael, Chief Executive Officer, Mercedes-Benz Oman. “This launch is a testament to our commitment to sustainability and innovation, aligning with global efforts to reduce carbon emissions and promote environmentally friendly transportation options. The electric range represents the pinnacle of EV technology, and we are confident that our customers will be as excited as we are to experience the future of driving.”
The all-electric range by Mercedes-Benz is powered by advanced electric motors paired with next-generation batteries. They deliver remarkable performance with horsepower ranging from 190 to 658, depending on the model. With class-leading aerodynamics and a driving range of up to over 700 kilometers on a single charge for the EQS, these vehicles set new standards for efficiency and convenience.
The all-new Mercedes-Benz G 580 with EQ Technology further enhances the lineup with its unique off-road capabilities. Built on a ladder-frame concept, the G 580 features a high-voltage lithium-ion battery integrated into the frame, ensuring a low center of gravity and an impressive range of up to 473 kilometers. With four individually controlled motors and innovative driving functions such as G-TURN and G-STEERING, the G 580 is designed to conquer any terrain while maintaining zero emissions. Its robust underbody protection and advanced off-road control systems make it a standout choice for adventure enthusiasts looking for a sustainable option.
As part of Mercedes-Benz’s global sustainable business strategy “Ambition 2039,” the company aims to achieve net carbon neutrality for its fleet of new vehicles over their entire lifecycle. Launching the all-electric range in Oman is a significant step towards this goal. Mercedes-Benz Oman is proud to lead the way in driving sustainable luxury forward in the region.
Customers are invited to visit the Mercedes-Benz Oman showroom from the 1st of September to experience the future of driving the all-electric range. Our expert team is ready to assist you in exploring these groundbreaking vehicles’ unique features and benefits.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Highlighting the hotel’s commitment to environmental responsibility and sustainable operations
Mandarin Oriental, Doha announced its distinction as the first hotel in Qatar to achieve the prestigious Global Sustainable Tourism Council (GSTC) certification. This recognition highlights the hotel’s deep commitment to environmental stewardship and sustainable operations.
This significant milestone was attained following an in-depth evaluation by United Certification Systems Limited (UCSL), a GSTC-Accredited Certification Body, reaffirming Mandarin Oriental, Doha’s leadership in sustainable luxury hospitality. The GSTC certification not only emphasizes the hotel’s dedication to sustainability but also positions it as a frontrunner in the global push towards responsible tourism.
Earning this certification is a powerful testament to Mandarin Oriental, Doha’s ongoing efforts to minimize its environmental impact while contributing to the social and economic welfare of the local community. The hotel’s compliance with the GSTC Criteria for Hotels—demonstrating effective sustainable management and maximizing benefits to the environment, cultural heritage, and community—establishes it as a regional benchmark for sustainable practices.
“We are honored to receive the GSTC certification, which underscores our commitment to responsible operations and managing our environmental and social impact,” said Thomas Kinsperger, General Manager of Mandarin Oriental, Doha. “This certification reflects our dedication to Mandarin Oriental Hotel Group’s Sustainability Goals and our principle to ‘Act with Responsibility,’ driving every decision with purpose. It solidifies our pursuit of sustainable practices, inspiring our guests and colleagues to contribute to a more sustainable future,” he added.
“Achieving accredited certification provides the highest level of assurance, credibility, and validation for hotels that take sustainability and verification of their claims seriously. We congratulate Mandarin Oriental, Doha on this achievement and for inspiring others in the region to prioritize sustainable operations,” said Randy Durband, GSTC CEO.
The GSTC certification reaffirms Mandarin Oriental, Doha’s leadership in sustainable luxury hospitality. As part of the Mandarin Oriental Hotel Group, the Doha property is committed to “Acting with Responsibility,” ensuring that every aspect of its operations supports the well-being of the planet, communities, and guests.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Self-tracking has moved beyond professional athletes and data geeks.