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.