Hisham Talaat added that the great success achieved in the inauguration of the Grand Egyptian Museum (GEM), coupled with comprehensive development of tourism infrastructure, has directly reflected on the performance of the hotel sector.
He noted that the price of a hotel night in Aswan had soared
to $1,050, and in Cairo to around $1,100, levels he described as unprecedented
in the history of Egyptian tourism over the past two decades.
He pointed out that this jump represents a three- to
four-fold increase compared to the revenue before the museum's opening, meaning
a multiplied growth in foreign exchange flows from tourism and strong support
for Egypt's balance of payments.
Speaking at a press conference for the Grand Egyptian
Museum's opening in the presence of Prime Minister Dr. Moustafa Madbouly and a
number of prominent investors, Talaat clarified that the development of roads,
infrastructure, and the area surrounding the Pyramids has created a qualitative
leap in Egypt's global image. He said this will directly impact the performance
of the tourism sector's various components.
He added that these developments will have a wide-ranging
economic impact, extending to industrial and service sectors linked to tourism,
noting that Egypt has already begun achieving unprecedented records in hotel
revenues and occupancy rates.
TMG chairman also touched upon the experience of Sharm El-Sheikh
following its hosting of the Peace Conference, asserting that the city saw a
strong recovery after a period of decline that lasted about three to four
years. He noted that tourist occupancy rates rose to 85 percent, while the
average price per hotel night increased fourfold, reflecting the direct
positive impact of major events and national projects on tourism activity in
Egypt.
He indicated that the opening of the Grand Egyptian Museum
will have a similar or greater effect on occupancy rates across various
Egyptian tourist destinations in the coming period.
He revealed that the group has commenced implementing a new
international hotel project on a 350,000-square-meter area, to be managed by
the famous Four Seasons hotel brand. The hotel will be linked to the Grand
Egyptian Museum via a private tunnel at the back of the museum, alongside a
fully integrated entertainment service area.
Hisham Talaat noted that construction began three months
ago, and the hotel is scheduled to open within three years, asserting that the
project will create a qualitative shift in the level of luxury tourism in
Egypt.
He also highlighted a comprehensive plan to develop the
historic Mena House hotel and restore its prestigious status, in addition to a
thorough development of the archaeological area surrounding the Pyramids and a
number of major historic hotels to meet modern tourism requirements and reflect
Egypt's civilizational image.
Hisham Talaat Moustafa offered congratulations to the Egyptian people, stressing that the opening of the Grand Egyptian Museum is an exceptional and historic event that marks a turning point in the trajectory of the modern Egyptian state, reinforcing its position as a global destination combining civilization and progress.