Hilton to add 8 hotels to its management portfolio in Egypt, reaching 24 hotels by 2024

Nehal Samir
1 Min Read

Hilton will add eight new hotels to its management portfolio to reach 24 hotels in Egypt by 2024, up from only 16 hotels now.

On the side-lines of Hilton’s celebration of 100 years since its establishment, Hilton Vice President of operations for Egypt and North Africa Mohab Ghali said the  average occupancy rate for the group`s hotels ranges between 70% and 75%, expecting the same ratio by next year.

Hilton group manages nearly 6,000 hotels worldwide under 17 brands.

Egypt’s tourism sector revenues achieved an unprecedented increase of 28.2% during the last Fiscal Year (FY) 2018/19, recording $12.570bn, compared to only $9.804bn, according to the Central Bank of Egypt (CBE).

Notably, the tourism sector is considered very important in the Egyptian economy, which represents more than 15% of Egypt’s gross domestic product, and contributes to the creation of jobs and positively affects the lives of local communities.

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