Asmallworld Ag Announces Its Appointment as Sole Sales Coordinator for A Major Wellness Resort Development in the Middle East
December 08, 2020 at 11:45 am EST
Share
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. 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. 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. 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.
Asmallworld AG is a Switzerland-based company, which offers a digital platform to connect people online. The Company operates through two operating segments: Subscriptions and Services. Segment Subscriptions offers two networks. The first one is online social network, which lets members to open their lives to each other, sharing experiences, and ensuring that fellow members can live like locals wherever they go. The second network provides with more than 200 nightlife venues around the world. Segment Services consist of travel and event services. The Company offers numerous events, including flagship events, charity events, as well as fashion events. Its travel services are based on the villa rentals, flights booking, private yacht charters and bespoke travel arrangements. It operates London, New York, Dubai, Paris, Geneva, Munich and Sydney, among others.