H2O Hospitality (H2O), a digital innovation company based in South Korea and operating in the accommodation and leisure industry, has partnered with the Abu Dhabi Investment Office (ADIO) to establish its regional headquarters in Abu Dhabi. According to the Emirates News Agency (WAM), this strategic move showcases the growing economic collaboration between South Korea and Abu Dhabi, with a particular emphasis on leveraging innovation and technology synergies.
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Located in the Abu Dhabi Global Market (ADGM), H2O’s new headquarters will serve as a catalyst for the company’s international expansion beyond Asia. By capitalizing on its previous success in Asia, H2O aims to seize opportunities in the Middle East and North Africa (MENA) hospitality market. Projections indicate a significant growth trajectory in the regional tourism market, with passenger volumes expected to fully recover in 2024, reaching approximately 400 million travelers.
Embracing innovation
Over the past decade, South Korea has consistently been recognized as the most innovative nation on six occasions according to the Bloomberg Innovation Index. Similarly, Abu Dhabi was named the smartest city in the MENA region for 2023 in the IMD Smart City Index released by the International Institute for Management Development (IMD).
ADIO has played a crucial role in supporting H2O’s growth by providing a comprehensive range of incentives, setup assistance, and connections to the Abu Dhabi ecosystem and international trade opportunities.
Furthermore, H2O’s presence in Abu Dhabi will enhance the guest experience by offering mobile-based booking, check-in, smart locks, in-room services, and contactless payment solutions.
Enhancing Abu Dhabi’s tourism sector
H2O’s innovative solutions will also make a significant contribution to Abu Dhabi’s tourism sector. With connections to over 85 online travel agencies, H2O effectively manages more than 190,000 units and 680 properties. Additionally, its solutions streamline hotel operations by digitizing processes, enabling paperless and contactless procedures that enhance efficiency and profitability for operators.
In the first quarter of 2023 alone, hotels in the UAE generated revenues exceeding AED12.2 billion ($3.32 billion), and the country welcomed over 7.2 million guests. Additionally, hotel room rates in Abu Dhabi are projected to increase by 7.1 percent in 2024.
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