Muscat National Development & Investment Company
Developing an Investment Strategy for the Creation of a National DMC
Destination: Muscat, Oman
Engagement: 2018
Oman’s leading investment company and infrastructure developer, the Muscat National Development and Investment Company (ASAAS), sought to launch a national destination management company (DMC) to augment inbound and intra-Oman tourism.
They retained Twenty31 to assess existing business activities of a target travel management company (TMC), identify improvement opportunities related to inbound operations, map initiatives to unlock greater value, and create a viable DMC with a defined exit strategy for investors. We evaluated the TMC's current operations (pre-money investment) and market potential (post-money investment) and provided an actionable roadmap.
Tourism brand, visitor experience, and product development planning
We conducted extensive quantitative and qualitative research to define the Oman and Muscat brand positioning relative to competitors in key outbound markets. We determined viable tourism products and activities and designed strategies to grow high-value tourism.
In-depth financial due diligence
We provided valuations of the DMC based on three accounting approaches: discounted cash flow (DCF), comparable transactions/multiples, and net assets, comparing fundamental multiples of commensurate entities for the basis of understanding market performance while considering existing investments.
Comprehensive market and organizational assessment
We reviewed the global, regional, and local tour operator sectors’ key features and business models, identifying trends, challenges, and opportunities. Our analysis included developing case studies and benchmarking against comparable regional and international tour operators to gain an in-depth understanding of the businesses, products, and services offered, market positioning, key customers and profiles, governance and organizational structure, and financial performance.
The strategy co-created by Twenty31 is now used to guide and enable sustainable tourism development and economic contribution in a manner that has advanced buy-in and cohesion among community stakeholders.
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