Swiss Inn Hotels & Resorts plans to inaugurate three additional hotels in the Egyptian market over one year, the group’s Chairperson Anton Good told Daily News Egypt, adding that the group is already managing 10 hotels in Egypt right now.
Good added that first hotel is expected to be inaugurated in Sharm El-Sheikh within three or four months, while the two other hotels will be opened in Marsa Alam and south Hurghada in one year.
He noted that Sharm El-Sheikh is still facing challenges, over the missing Russian tourists, while most of the hotels’ occupancy is mostly by Egyptians, adding, “occupancy is good, but rates are very low.”
Following the Russian plane crash end of October 2015 in Sinai, Russia imposed a travel ban on Egypt, while the UK suspended all flights to Sharm El-Sheikh, amid concerns over the airport’s security practices, banning travel to Sinai.
Good mentioned that expansion in the neighbouring region is very complicated, which pushed the group to close its hotel in Adan, Yemen, because there were no rates, saying that the group is mulling inaugurating three hotels outside Egypt.
Moreover, he also mentioned that his group is expected to open two hotels in the Ethiopian capital Addis Ababa, noting that the plan includes opening one hotel in Amman, Jordan.
Swiss Inn Hotels & Resorts has evolved into a highly regarded niche hotel management company, since its founding in 1994 by Good. With over 10 hotels and resorts existing or under construction in the core markets of Egypt and Middle East, this group is clearly positioned in the niche segment.