In a statement to the Egyptian
Exchange, TMG Holding addressed recent media reports suggesting that the
company had signed a deal to double its dollar revenue to $856 million by 2028.
TMG Holding has significantly expanded its presence in the hotel sector and other recurring income activities through the acquisition of seven historic assets in Egypt, adding over 2,500 hotel rooms to its portfolio. This strategic move has resulted in a substantial 2.4-fold increase in revenue from these sectors, reaching 7.9 billion Egyptian pounds in the first half of 2024 compared to 3.3 billion Egyptian pounds during the same period last year.