Prime Hospitality Management Group (PHMG) is to manage new serviced units owned by the Tredco El Sayad Company, affiliated to El Sayad Group, in the 10th of Ramadan City, Invest-Gate reports.
It follows as part of PHMG’s expansion plan into new markets and cities. PHMG specializes in managing branded and serviced units, as well as renting and managing apartments furnished in the same manner as a hotel system, known as “vacation houses”.
CEO of PHMG Moataz Amin confirms that the company is starting its expansion plan with hotel management for a new project in 10th of Ramadan; serviced studios with a total of six units is the first of its kind in 10th of Ramadan.
Amin adds that despite the city’s role as a significant industrial city, there is a growing demand from businesspeople and managers in various factories for serviced units. The new units are the first under the brand Prime Inn.
“The plan is for the trial operation of the units to take place after the Eid Al-Fitr holidays. This project will be the beginning of a series of serviced and branded apartment projects in 10th of Ramadan,” El Sayad states, adding “The management contract with Prime Group will expand into 50 new serviced units in the city, in addition to more than 30 serviced units in 6th of October City within two years.”
The total number of serviced and branded units currently managed by the group, covers 127 units distributed among four Branded Prime Residencies, Prime Holidays, Prime Inn, and Prime Select at several regions in Cairo, North Coast, Ain Sokhna, and soon in El Gouna. All units are available for short- and long-term leasing according to client’s demand. Units come with maintenance, security, cleaning, and other services necessary for a comfortable lifestyle, as well as a swimming pool.
Sherif El Sayad, Vice Chairperson of Tredco El Sayad highlights importance of meeting market and customer demands, to acquire a larger market share, increasing the company’s customer base. El Sayad notes, “A successful company is one that is operating in areas of big demand but in lack of supply.”
