Egypt presents significant hospitality opportunities: AHIC

A new property in Cairo
A new property in Cairo

Cairo recently welcomed a delegation from AHIC, as part of the regional briefing series being hosted in several countries across the region.

The briefing was held to discuss current status of the Egyptian hospitality market as well as look at upcoming opportunities and needs of the market.

The Egypt briefing was attended by Dr Sherif Oteifa advisor to the minister of investment of Egypt, Ben Martin Principal, head of economics, AECOM, Hesham Shoukri CEO and executive president, Rooya Group, Mohamed Kamel, chief executive officer of Egyptian Resorts Company, Alex Mavridis, chief investment officer of Al Dau Development, Hala El Khatib, secretary general of Egyptian Hotel Association, Islam Mahdy, chairman, Credence Holding, and Philip Wooller, Middle East and Africa area director of STR Global.

Philip Wooller shared insights on the hospitality market in Egypt saying: “The dark days of the Egyptian tourism industry look to be finally over after four years in the wilderness. If the political stability continues, 2015 should be a good year for Egypt. Demand for hotel rooms across Egypt in the second half of 2014 (July to December) increased by 58% resulting in an additional six million rooms being sold. In Cairo, demand for rooms increased by 91% in the same period resulting in an additional one million rooms sold. In Sharm El Sheikh demand increased by 45% resulting in an additional 372,000 rooms sold.”

The AHIC regional briefings have been held so far in Oman, Jeddah and Cairo. The 2015 series will also go to Riyadh and Qatar, ahead of the main conference in Dubai.

The event is slated to held from 5-7 May 2015 at Madinat Jumeirah in Dubai.

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