Hisham Talaat Moustafa's top ranking on the 2025 list is a significant achievement, as he is the first private sector businessman to lead the list. Previous leaders were typically affiliated with government entities or companies owned by sovereign wealth funds. This distinction highlights Moustafa's exceptional performance and success in a highly competitive industry.
This achievement positions TMG as a leader in the Egyptian
and Arab tourism sector, showcasing Egypt's ability to compete and lead
regionally.
These achievements are the result of a career spanning more
than 40 years at the helm of the TMG. The Group now manages over 5,000 hotel
rooms in 11 hotels, with another five currently under development. The
company's land portfolio also exceeds 125.9 million square meters across Egypt,
Saudi Arabia, Oman, and Iraq.
In the first quarter of 2025, the Group reported cumulative
sales of $6.9 billion. Additionally, revenues from its hotel sector saw a 50%
increase, reaching $69 million. This accounts for 37% of the Group's total
revenues of $186 million.
The Forbes Middle East list is compiled using specific
criteria, including business size, number of hotels and rooms, revenues, value
of investments and assets, geographic reach, economic impact, leadership strength,
and achievements from 2024 and 2025.
It is worth noting that Hisham Talaat Moustafa has played a
pivotal role in developing Egypt's tourism sector. This was achieved through
the acquisition by the Group's subsidiary, ICON, of a 51% stake in Legacy
Hotels and Tourism Projects. Legacy owns seven historic hotels. These include
the iconic Marriott Mena House in Cairo, the Sofitel Winter Palace in Luxor,
and the Old Cataract Hotel in Aswan. This strategic acquisition has boosted the
Group's foreign currency earnings and significantly raised the standard of
hospitality in Egypt.
Furthermore, partnerships with global hotel brands like Four Seasons and Kempinski have elevated the Group's service quality. This strategy has successfully attracted high-spending tourists and increased the average room rate, solidifying Egypt's reputation as a premier luxury tourist destination in the region.