Marriott’s five-year expansion plan will add 32,000 new hotel rooms to the region, mostly in Egypt, the UAE, and Saudi Arabia, Middle East and Africa Director Alex Kyriakidis tells Gulf News. The new rooms come as part of the hotel brand’s plans to increase its portfolio in the region by 50%. On geopolitical concerns, Kyriakidis says that Marriott has remained profitable during its 38-year presence in Egypt although the country “has gone through the most incredible rollercoaster in terms of pure politics, change of presidents.”
More from Enterprise
Banque du Caire’s blockbuster IPO holds firm against EGX selloff
The IFC and the EBRD are in for USD 100…
Electricity Ministry studies changing how your electricity bill gets calculated
The plan is still under study, and neither of the…
Africa’s corporate debt market is just 0.3% of the world’s, with Egypt’s share more than halved since 2010
The OECD puts Africa’s market-based corporate debt at USD 211…
DPI closes Egypt-born fintech fund Nclude at USD 112 mn
The final close adds roughly USD 7 mn to a…