(MENAFN- Daily News Egypt) Officials at Hilton Group said that performance indicators are recovering as Egypt and Turkey revive their tourist market. They noted that occupancy grew by 20% since the beginning of the year.
Carlos Khneisser, Hilton's vice president of development for MENA and Turkey, said that the Egyptian economy is seeing the currency stabilise, along with the inauguration of the New Administrative Capital, the expansions in the North Coast and Alamein, and the developments in Ain Sokhna, all of which should attract investments to Egypt, in addition to stimulating tourism and hotel activities.
He added that the market in Egypt is seeing high demand from big investors on three and four star hotels.
He pointed out that Hilton has several areas to rely on, especially in Greater Cairo in areas such as the Airport, Heliopolis, and New Cairo, and has a number of good brands that were introduced to the local market.
"There are always good and bad times," he said commenting on the performance of the group during the Arab Spring and the turmoil that followed. "Hilton signs its contracts to manage hotels for five and ten years. Nobody can guarantee stable performance, where we adapt with the changes in the region."
He added that the group in Egypt did not seek working capital from the parent group to cover its operations in Cairo during and after the revolution, but rather managed to cope with the new circumstances.
Moreover, Khneisser explained that in tough times, the company puts plans to rationalise costs and working capital without shutting down or closing hotels. He added that the group has vast experience in crisis handling, noting that Iraq could be a promising region if security and politics stabilise there, along with Tunisia, Syria, and Libya.
"When Hilton manages any hotels; its main concern is always the safety of guests and employees – which is the most prominent element for success," he stressed.
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