InterContinental Hotels Group (IHG), one of the world’s leading hotel companies, is planning to further expand its presence in Egypt and set foot into Tunisia as tourism in both North African countries recovers, The National reports.
In Egypt, the group eyes the addition of new properties in east Cairo’s New Administrative Capital (NAC) as well as the introduction of its Voco, Staybridge Suites, and Crowne Plaza brands at the Red Sea towns of Sharm El Sheikh and Hurghada, Matthew Tripolone, IHG vice-president of development in the Middle East and Africa, told the Abu Dhabi news agency on December 22.
“We are seeing heightened growth in Egypt, particularly in the Red Sea resorts, the market has stabilized quite significantly there and hotel rates have increased in the last two years by 50%, admittedly off a low base. We are seeing a lot of demand for new projects,” Tripolone was quoted as saying.
As for Tunisia, negotiations are underway to rebrand some of the North African country’s local hotels to its Indigo, Holiday Inn, and Intercontinental brands. However, no timeline is set for the company’s debut, the official further stated.
According to Tripolone, New York-listed IHG currently operates 91 hospitality developments in the Middle East and North Africa regions, with 48 others slated for opening in the next three to five years.
“We are in discussions on numerous projects in Lebanon, which have all been put on hold because of the political situation,” the vice president highlighted, noting, “There is a risk inherent in a lot of markets in this part of the world.”
Since its inception in 1970, IHG managed to behold a one-of-a-kind collection of modern hotels and resorts that rooted in extraordinary living and located in different countries around the world, with a legacy of luxury that endures to this day.