Services
The complex will extend its services to residents and guests of Mangistau region, as well as to tourists from neighbouring countries and even those from distant countries. At full design capacity by 2025, the complex will have a total of 96 rooms, categorised as follows: 2’ Apartments,' 11 'Junior Suites,' 82 'Standard' rooms and 1 room designed for individuals with disabilities.
Project
The project envisages the construction of a 4-star hotel complex, Wyndham Garden Aktau, on a 0.2433 ha land along the Caspian Sea coast in Aktau, Mangistau region. The site is well-connected to engineering and communication networks and is adjacent to a developed road, transport and logistics infrastructure. Current Project status:
- RSE Gosekspertiza has issued a positive state expertise conclusion for the working project in July 2019.
- TechnoDASK-Aktau LLP has developed a construction plan.
- The construction and installation works are 60% complete.
MK Corporation LLP is a company specializing in the construction and sale of residential and administrative buildings in Mangistau region.
Market
- In 2022, the volume of tourism industry in Kazakhstan increased by 17.9% and amounted to 11.2 billion USD, with a compounded annual growth rate of 20.6% during 2020-2022. According to Marketline forecasts, by 2027 the volume of the tourism market in Kazakhstan in value terms will be 16.7 billion USD, an increase of 49,1% compared to 2022. Compounded annual growth rate of the industry over the period 2022-2027 is projected to be 8.3%.
- According to Kazakh Tourism, in 2021, Kazakhstan ranked 66th out of 117 countries in the World Travel and Tourism Development Index, ahead of Montenegro (67), Morocco (71), Kyrgyzstan (90).
- The number of visitors is growing year-on-year. The cumulative annual growth rate of visitors for 2017-2022 was 29.5% for the country as a whole and 72% in Mangistau resort zone. The growth is due to the increasing popularity of domestic resorts.
- Unique Project location. The location of the Project on the Caspian Sea coast in Aktau (as of June 1, 2023, the population of Mangistau region – 776 thousand people) is attractive for year-round offer of tourist services, including hotel accommodation, SPA procedures, etc. Caspian Sea seawater contains mineral salts (sodium, potassium, magnesium, calcium) and trace elements (iodine and bromine), which have a favourable effect on the nervous system and human metabolism.
- Trademark Licensing Agreement: WYNDHAM HOTEL GROUP (UK) EAST Ltd. has granted the Initiator to use trademark until 30 August 2044, as per a license agreement dated 24 November 2021. Wyndham Garden is a brand of hotels within the Wyndham Hotels & Resorts group, focusing on providing travelers with comfortable and high-quality accommodation. The executed license agreement ensures access to the expertise needed for maintaining elevated service standards, implementing effective marketing strategies, and optimizing operational processes.
The Project requires investment of 1,968 thousand USD (at the rate of 449.2 tenge), of which:
- 50% (984 thousand USD) – debt financing subject to collateral;
- 50% (984 thousand USD) – investor participation.
