Lars Johannesen is the founder of lifestyle app Privilee. Courtesy Privilee
Lars Johannesen is the founder of lifestyle app Privilee. Courtesy Privilee
Lars Johannesen is the founder of lifestyle app Privilee. Courtesy Privilee
Lars Johannesen is the founder of lifestyle app Privilee. Courtesy Privilee

How Privilee founder Lars Johannesen went from handing out flyers to high-flying CEO


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Since Privilee launched four years ago, it’s helped thousands of people across the UAE get a taste of the five-star lifestyle for a fraction of the cost. All because the man behind it was once part of the group of Dubai residents who spend far too much money on single-day passes at hotel beach resorts.

Danish national and entrepreneur Lars Johannesen moved to Dubai from Denmark in 2009, having visited the region frequently for several years. One of his favourite activities was spending weekends at resorts with his wife and friends.

“Back then, we would regularly try out different properties. I never thought about buying a resort membership and would simply pay the day-pass rates required, as we loved the flexibility and freedom of trying out various places,” he says.

It was important for me to create something that my family could enjoy too

“Along with buying lunch, drinks by the pool, a massage and dinner, it would equate to a huge sum of money for a simple weekend in the sun.

"It was only when I spent a weekend with friends who had multiple discounts and free access to resorts that I realised there was a gap in the market to bring this benefit to residents in the wider region," he adds. "It was important for me to create something that my family could enjoy too, so we could spend endless weekends or even weekdays experiencing 'daycations' without having to spend a fortune and still being able to sleep in our own bed."

And so, Johannesen founded lifestyle brand Privilee in 2015. Today, the membership service offers access to 50 pools and beach clubs across the UAE, more than 56 five-star gyms and discounts at ­hundreds of affiliated restaurants ­everywhere from Atlantis, The Palm to the Address ­Montgomerie in Dubai, and Saadiyat Beach Club to the Park Hyatt in Abu Dhabi.

But fret not if you’re in Ras Al Khaimah, Fujairah or Ajman, there are hotels and gyms to access there, too. Most recently, it expanded its reach to more than 1,000 free fitness classes, and includes sports such as tennis and squash, and outdoor activities ­including water sports and golf. ­Membership packages start at Dh529 per month if you sign up for a year, which includes two free guest cards for one-time use. Guest cards offer the same deals and discounts, and are valid for five working days. The most expensive option, a one-month membership, costs Dh1,199.

Privilee launched to little fanfare with just eight listed hotels and four members of staff. Rapid expansion meant the company went from taking to the streets to hand out flyers and brochures about its offers, to going fully digital later this month. It now employs 22 people and has thousands of active members. The company also proved dynamic – listening to customer suggestions and being quick to take on new offers – from discounts across spas to restaurants.

It’s an impressive trajectory, but Johannesen isn’t one to laud Privilee’s success in ­public. Until now, he’s remained very much behind the scenes; in fact, after four years at the helm of the company, this is his first media interview.

These days, hotels and resorts wanting to partner approach Privilee, and not the other way around. The key it seems is to keep evolving. By the end of this month, Privilee has pledged to go card-free, with everything being available on an app. It’s also taken on a new focus on fitness, introducing 1,000 classes into its repertoire this month. This includes access to independent and boutique gyms, not just the large chains and in-­hotel facilities. Some standout offerings include Smart Fitness, TribeFit and FitRepublik in Dubai, and Let’s Go Gym in Abu Dhabi. Personal training is also offered at many of Privilee’s partners at a discounted rate. Think of it almost like an Entertainer and ClassPass membership in one.

“Interest in fitness and well-being has dramatically increased over the last couple of years in the region. We realised there was a demand for classes and independent gym access,” Johannesen says.

Families are also catered for. One membership also allows access for two to three kids, so it’s a good option if you’re a parent – you can safely head off to the Fairmont for a gym session and leave the children at the kid’s club for free. The whole family can then spend the rest of the day at the pool or beach club, with a discounted meal to round it all off.

In the coming months, the app will add leisure and entertainment venues to its array of offerings. “Fitness classes are just the start,” Johannesen says. “In future, we are going to be expanding our portfolio of resort partners and extending into other areas of the leisure market. I would love to see Privilee as the only membership you need.”

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Retirement funds heavily invested in equities at a risky time

Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.

Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.

The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.

The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.

Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.

The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.

• Bloomberg

Ziina users can donate to relief efforts in Beirut

Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”

While you're here
A cryptocurrency primer for beginners

Cryptocurrency Investing  for Dummies – by Kiana Danial 

There are several primers for investing in cryptocurrencies available online, including e-books written by people whose credentials fall apart on the second page of your preferred search engine. 

Ms Danial is a finance coach and former currency analyst who writes for Nasdaq. Her broad-strokes primer (2019) breaks down investing in cryptocurrency into baby steps, while explaining the terms and technologies involved.

Although cryptocurrencies are a fast evolving world, this  book offers a good insight into the game as well as providing some basic tips, strategies and warning signs.

Begin your cryptocurrency journey here. 

Available at Magrudy’s , Dh104 

The specs

Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder

Power: 220 and 280 horsepower

Torque: 350 and 360Nm

Transmission: eight-speed automatic

Price: from Dh136,521 VAT and Dh166,464 VAT 

On sale: now

Who is Mohammed Al Halbousi?

The new speaker of Iraq’s parliament Mohammed Al Halbousi is the youngest person ever to serve in the role.

The 37-year-old was born in Al Garmah in Anbar and studied civil engineering in Baghdad before going into business. His development company Al Hadeed undertook reconstruction contracts rebuilding parts of Fallujah’s infrastructure.

He entered parliament in 2014 and served as a member of the human rights and finance committees until 2017. In August last year he was appointed governor of Anbar, a role in which he has struggled to secure funding to provide services in the war-damaged province and to secure the withdrawal of Shia militias. He relinquished the post when he was sworn in as a member of parliament on September 3.

He is a member of the Al Hal Sunni-based political party and the Sunni-led Coalition of Iraqi Forces, which is Iraq’s largest Sunni alliance with 37 seats from the May 12 election.

He maintains good relations with former Prime Minister Nouri Al Maliki’s State of Law Coaliton, Hadi Al Amiri’s Badr Organisation and Iranian officials.

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

SERIE A FIXTURES

Saturday Benevento v Atalanta (2pm), Genoa v Bologna (5pm), AC Milan v Torino (7.45pm)

Sunday Roma v Inter Milan (3.30pm), Udinese v Napoli, Hellas Verona v Crotone, Parma v Lazio (2pm), Fiorentina v Cagliari (9pm), Juventus v Sassuolo (11.45pm)

Monday Spezia v Sampdoria (11.45pm)

APPLE IPAD MINI (A17 PRO)

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Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine

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Biometrics: Touch ID, Face ID

Colours: Blue, purple, space grey, starlight

In the box: iPad mini, USB-C cable, 20W USB-C power adapter

Price: From Dh2,099

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

UAE-based players

Goodlands Riders: Jamshaid Butt, Ali Abid, JD Mahesh, Vibhor Shahi, Faizan Asif, Nadeem Rahim

Rose Hill Warriors: Faraz Sheikh, Ashok Kumar, Thabreez Ali, Janaka Chathuranga, Muzammil Afridi, Ameer Hamza

The Penguin

Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz

Creator: Lauren LeFranc

Rating: 4/5

Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

Company Profile:

Name: The Protein Bakeshop

Date of start: 2013

Founders: Rashi Chowdhary and Saad Umerani

Based: Dubai

Size, number of employees: 12

Funding/investors:  $400,000 (2018) 

The candidates

Dr Ayham Ammora, scientist and business executive

Ali Azeem, business leader

Tony Booth, professor of education

Lord Browne, former BP chief executive

Dr Mohamed El-Erian, economist

Professor Wyn Evans, astrophysicist

Dr Mark Mann, scientist

Gina MIller, anti-Brexit campaigner

Lord Smith, former Cabinet minister

Sandi Toksvig, broadcaster

 

Pharaoh's curse

British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.

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Day 5, Abu Dhabi Test: At a glance

Moment of the day When Dilruwan Perera dismissed Yasir Shah to end Pakistan’s limp resistance, the Sri Lankans charged around the field with the fevered delirium of a side not used to winning. Trouble was, they had not. The delivery was deemed a no ball. Sri Lanka had a nervy wait, but it was merely a stay of execution for the beleaguered hosts.

Stat of the day – 5 Pakistan have lost all 10 wickets on the fifth day of a Test five times since the start of 2016. It is an alarming departure for a side who had apparently erased regular collapses from their resume. “The only thing I can say, it’s not a mitigating excuse at all, but that’s a young batting line up, obviously trying to find their way,” said Mickey Arthur, Pakistan’s coach.

The verdict Test matches in the UAE are known for speeding up on the last two days, but this was extreme. The first two innings of this Test took 11 sessions to complete. The remaining two were done in less than four. The nature of Pakistan’s capitulation at the end showed just how difficult the transition is going to be in the post Misbah-ul-Haq era.

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

About Krews

Founder: Ahmed Al Qubaisi

Based: Abu Dhabi

Founded: January 2019

Number of employees: 10

Sector: Technology/Social media 

Funding to date: Estimated $300,000 from Hub71 in-kind support

 

FFP EXPLAINED

What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.

What the rules dictate? 
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.

What are the penalties? 
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.

The biog

Name: Mohammed Imtiaz

From: Gujranwala, Pakistan

Arrived in the UAE: 1976

Favourite clothes to make: Suit

Cost of a hand-made suit: From Dh550

 

HOW TO WATCH

Facebook: TheNationalNews 

Twitter: @thenationalnews 

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TikTok: @thenationalnews   

The specs: 2018 Maserati Ghibli

Price, base / as tested: Dh269,000 / Dh369,000

Engine: 3.0-litre twin-turbocharged V6

Transmission: Eight-speed automatic

Power: 355hp @ 5,500rpm

Torque: 500Nm @ 4,500rpm

Fuel economy, combined: 8.9L / 100km

The specs: 2018 Maserati Levante S

Price, base / as tested: Dh409,000 / Dh467,000

Engine: 3.0-litre V6

Transmission: Eight-speed automatic

Power: 430hp @ 5,750rpm

Torque: 580Nm @ 4,500rpm

Fuel economy, combined: 10.9L / 100km

Sunday's games

Liverpool v West Ham United, 4.30pm (UAE)
Southampton v Burnley, 4.30pm
Arsenal v Manchester City, 7pm

Don't get fined

The UAE FTA requires following to be kept:

  • Records of all supplies and imports of goods and services
  • All tax invoices and tax credit notes
  • Alternative documents related to receiving goods or services
  • All tax invoices and tax credit notes
  • Alternative documents issued
  • Records of goods and services that have been disposed of or used for matters not related to business
MATCH INFO

Uefa Champioons League semi-final:

First leg: Liverpool 5 Roma 2

Second leg: Wednesday, May 2, Stadio Olimpico, Rome

TV: BeIN Sports, 10.45pm (UAE)

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