Dr. Hussein Issa, Egypt's Deputy Prime Minister for Economic Affairs, recently held a comprehensive meeting with the executive presidents of companies affiliated with the Holding Company for Tourism and Hotels. The meeting was attended by Amr Attia, the Executive Managing Director of the Holding Company. The discussions focused on reviewing the financial and operational performance indicators of the Holding Company and its subsidiaries, as well as the executive status of ongoing projects and new hotel and tourism expansions.
The meeting covered the latest business results of the Holding Company and its subsidiaries in the tourism, hotel, and internal trade sectors. The attendees also reviewed the progress made on several projects and hotel expansions. Dr. Issa emphasized Egypt's exceptional and unique tourism capabilities, as well as the significant diversity in tourist destinations, products, and patterns. He highlighted the importance of investing in the growth of incoming tourist traffic and increasing the attractiveness of investment in the hotel sector.
Dr. Issa noted that the tourism and hotel sector is a key driver of economic growth, providing foreign exchange resources, creating job opportunities, and achieving multiple economic, developmental, and social returns. He stressed the importance of continuing to develop tourist and hotel facilities, reviving historical assets, improving operational efficiency, and expanding hotel capacities to meet growing tourist demand. Dr. Issa also emphasized the need to diversify products and services and continuously improve the quality of the tourist experience.
The Deputy Prime Minister highlighted the strength and diversity of the Holding Company's portfolio, which includes historic and modern hotel and tourism assets. He emphasized the importance of continuing to work on maximizing the returns on these assets, expanding into high-value-added projects, and enhancing partnerships with the private sector. Amr Attia, the Executive Managing Director of the Holding Company, confirmed that the company's work plan aims to enhance the competitiveness of the group and maximize the value and returns on its historical and modern assets.
The meeting reviewed the executive status of several tourism and hotel projects, including the development of the historic Shepherd Hotel on the Nile Corniche, the revival of the historic Continental Hotel, and the development of the Nile Ritz-Carlton Hotel in central Cairo. Other projects discussed included the Gaz Asila resort in Marsa Alam, the Four Seasons hotel in Luxor in partnership with the private sector, and several development and expansion projects for hotels such as Aura on the North Coast and Retak Konai in Dahab.
The company also reviewed plans to develop and operate new tourist facilities, including the renovation of the Nefertari Hotel in Abu Simbel and the Hotak Arkan Hotel in Ras El-Bar. Additionally, the company discussed updating its tourist transportation fleet and developing tourist services and products for Egypt Tourism. The meeting also covered plans to develop and exploit the Cotton Palace in Alexandria and the Egypt Tourism Tower for hotel, real estate, administrative, and commercial activities.
The Holding Company for Tourism and Hotels has a diverse portfolio of companies operating in tourism and hotel activities, including the Egyptian General Company for Tourism and Hotels (EGOTH), Egypt Hotels, and Egypt Tourism. The company aims to enhance its competitiveness, maximize the value of its assets, and achieve sustainable economic, social, and environmental returns. The company is also implementing an enterprise resource planning (ERP) system to improve management efficiency, financial and operational processes, and data quality.
Key points
- The Egyptian government is working to enhance the tourism sector by investing in hotel and tourism projects and improving the competitiveness of the sector.
