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

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.