Engineer Shimi emphasized the significant capabilities and distinguished potential of HOTAC and its subsidiaries in the tourism, hotels, and trade sectors, in addition to its valuable assets, which form a strong foundation for expansion, growth, and enhancing its role in supporting the national economy.
Accountant Amr Attia, HOTAC's Executive Managing Director,
presented the board of directors' report and the financial results for the
fiscal year 2024-2025. The holding company and its subsidiaries achieved total
consolidated revenues of EGP 11.3 billion, marking a 22% growth over the
previous year, while the realized net profit reached EGP 4.7 billion, an
increase of 14%.
The Minister noted that the ministry is implementing an
ambitious plan to increase hotel capacity across the Republic, both through the
development of existing establishments and the addition of new hotels and
expansions. This aims to raise the accommodation capacity and enhance the
readiness of the Egyptian tourist destination to receive more visitors.
He clarified that improving the level of services and
tourism products is a top priority for the Ministry, ensuring the provision of
an integrated tourism experience that meets global standards and reflects the
authentic Egyptian identity.
Shimi also stressed the importance of efficient utilization
and management of assets owned by HOTAC and its subsidiaries, confirming that
maximizing returns from these assets is one of the core pillars of the
Ministry's strategy. He added that partnership with the private sector remains
a primary path for increasing investments and raising management efficiency.
He further affirmed the importance of proceeding with
digital transformation plans and developing management, governance, and
internal audit systems to enhance transparency and improve institutional
performance.
The meeting reviewed the highlights of the holding company's
strategic plan, which aims to reinforce leadership in the tourism and hotels
sector, sustainable innovation, achieving economic, social, and environmental
sustainability, and geographical expansion and hotel investment. This includes
projects to develop existing assets and increase capacity in several tourist
cities and the Delta region.
The year also witnessed notable progress in several
projects, including the operation and development of the Nefertari Hotel in Abu
Simbel and the Arakan Ras El Bar Hotel in partnership with the private sector.
Furthermore, Sound and Light shows were launched at Qaitbay Citadel, along with
the first-of-its-kind Virtual Reality (VR) shows in the Pyramids area. Nearing
completion is the development of the Khan El Khalili Restaurant under the
management of Oberoi International. Other projects include the revival of the
historic Continental Hotel in downtown Cairo, the "Jaz Asila" Resort
project in Marsa Alam, the development of the Nile Ritz-Carlton Hotel in
downtown Cairo, the extension of the Steigenberger El Lisan Hotel in Ras El
Bar, and advanced work on the development of the historic Shepherd Hotel on the
Nile Corniche. There is also a push towards establishing new hotels in the
Delta cities like Mahalla, Tanta, and Mansoura, a new plastic wood factory, and
real estate and commercial projects, including the development of several
commercial branches such as the historic Pontremoli showroom for fine furniture
and the addition of a new branch in Alexandria, and the Abha Hayat compound
belonging to El Maamoura Company in partnership with the private sector.
In commitment to environmental standards, the report noted
that several hotels belonging to HOTAC and its subsidiaries received the Green
Star certification in appreciation of their implementation of sustainable
tourism standards and efficiency in energy and water consumption. This reflects
the company's direction towards promoting responsible environmental practices
and enhancing service quality, in addition to strengthening occupational safety
and health standards and human capital development through training programs
for employees.
In conclusion, the Minister affirmed the ministry's
continued support for development efforts and investment expansion in the
subsidiary companies. He indicated that the coming phase will witness advanced
steps in modernizing the hotel and tourism sector, raising competitiveness, and
maximizing the benefit from assets, in line with Egypt's Vision 2030 and reinforcing
the role of the Public Business Sector as an active economic force.
HOTAC holds a diversified portfolio of companies operating in tourism and hotel activities: (Misr Tourism, Misr Sound and Light, EGOTH, Misr Hotels, El Maamoura), and commercial activities: (Haute Couture Houses "Hano - Benzion," Sidnawy and Sale of Manufactures, Omar Effendi, Commercial Woods), in addition to joint ventures and contributions from HOTAC and its subsidiaries, reflecting the strength of its investment position and its ability to achieve increasing added value.