EQS Group-Ad-hoc: ASMALLWORLD AG / Key word(s): Contract
ASMALLWORLD AG (SWX:ASWN) named sole sales coordinator for luxury wellness resort development in the Middle East
Zurich, 08.12.2020 - Today, ASMALLWORLD AG announced its appointment as sole sales coordinator for a major wellness resort development in the Middle East. Under the agreement, ASMALLWORLD will manage all sales and marketing activities for the luxury resorts' apartments and villas. These units have an estimated market value of USD 600M, which would result in a sales commission of USD 10-15M for ASMALLWORLD. Details of the deal will be announced at a later stage due to confidentiality agreements between the parties.
Today, ASMALLWORLD AG announced that it has been appointed as sole sales coordinator for a major luxury wellness resort in the Middle East. Under the agreement, ASMALLWORLD will manage and coordinate all sales and marketing efforts for the development company. This appointment is the result of an ongoing collaboration between the two companies which started in 2019. ASMALLWORLD has already been supporting the developer with the selection and coordination of multiple hospitality partners for the development over the last months. Details of the deal will be announced at a later stage to due to confidentiality agreements between the parties.
An integrated 5-star wellness & health resort in the Middle East
Once completed, the new development will be the first fully integrated 5-star wellness and health resort in the Middle East. It is set to become one of the most prestigious wellness resorts in the region, offering first class access to health and wellbeing facilities.
The resort will feature luxurious apartments and villas, a hotel, a wellness centre, several high-end restaurants, and a variety of premium retail outlets.
Significant revenue potential for ASMALLWORLD
ASMALLWORLD has already played a pivotal role in identifying strategic partners for the resort over the last few months. In its role as project consultant, the company managed to secure over 30 LOIs from international luxury brands, interested in offering their services to future residents and guests.
Under this new agreement, ASMALLWORLD will now also act as the sole sales coordinator and will manage all sales and marketing activities for the resort's apartments and villas.
The resort's apartments and villas are expected to sell for a combined market value of USD 600M, which would generate USD 10-15M in sales commission for ASMALLWORLD over the coming years. The sale of the apartments and villas is expected to start early 2021.
"We are extremely excited that we will be coordinating the sales efforts for this world-class property. Our involvement in this project will contribute significantly to our revenues over the next few years and further strengthens ASMALLWORLD's standing in the hospitality industry," commented ASMALLWORLD CEO Jan Luescher.
This press release and further information can be found at www.asmallworldag.com.
ASMALLWORLD is the world's leading travel & lifestyle community, focusing on experiences, the modern-day definition of luxury.
Centred around the ASMALLWORLD social network, the company operates a digital travel & lifestyle ecosystem which inspires members to travel better, experience more and make new connections.
Members of the ASMALLWORLD social network connect through its app and website, where they can meet other members, book hotels, receive travel and lifestyle inspiration, and enjoy a wealth of travel privileges.
Members also meet in person at over 1'000 global ASMALLWORLD events every year, ranging from casual get-togethers in major cities around the world to flagship weekend experiences hosted in iconic destinations such as Saint-Tropez and Gstaad.
Other businesses of the ASMALLWORLD travel & lifestyle ecosystem include:
ASMALLWORLD Collection, an online hotel booking engine focused on the world's best hotels, offering customers the exclusive "ASMALLWORLD Preferred Rate" with extraordinary benefits at no additional cost
ASMALLWORLD Private, a high-end travel agency offering personalised travel curation service
ASW Hospitality, a hotel management company that operates and manages the iconic North Is-land resort in the Seychelles
First Class & More, a subscription-based smart luxury travel service that allows members to enjoy luxury travel at insider prices
The World's Finest Clubs, the world's leading nightlife concierge offers its members VIP access to the most exclusive nightlife venues around the world
For more information, please visit:
End of ad hoc announcement
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Stuttgart, Tradegate Exchange; SIX Swiss Exchange|
|EQS News ID:||1153737|
|End of Announcement||EQS Group News Service|
1153737 08-Dec-2020 CET/CEST