Latest news with #hotelportfolio
Zawya
19-05-2025
- Business
- Zawya
Egypt's Talaat Moustafa Group eyes expansion in North Coast, Gulf, North Africa
Egypt - Talaat Moustafa Group (TMG) is exploring new expansion opportunities on Egypt's North Coast, in the Gulf region, and across North Africa, the company has indicated, following a period of strong sales growth. The Egyptian property developer reported record sales exceeding EGP 504bn (approximately $10bn) in 2024, building on a compound annual growth rate (CAGR) of 70% in value since 2017. In the first quarter of 2025, TMG announced a 25% year-on-year sales increase to EGP 77bn, up from EGP 62bn in the same period of 2024. This growth was achieved despite no new real estate projects being launched during the first quarter of the current year. TMG Holding aims to sustain total sales for the 2025 fiscal year at levels similar to its 2024 performance. This target is expected to be supported by new project launches anticipated by year-end, including the mixed-use Sharm El Sheikh Bay development in the city of Sharm El Sheikh. Earlier, at the beginning of May 2025, the group launched the second phase of its South Med project. The initial launch in 2024 saw over EGP 70bn in reservations secured on the first business day. Consequently, TMG's total sales year-to-date have surpassed EGP 160bn, representing a growth rate of 125%. Talaat Moustafa Group said its acquisition of seven prominent historic hotels in Egypt, which added over 2,500 rooms to its hotel portfolio, has fortified a stable and predictable revenue stream in foreign currencies. TMG reported continued growth in revenues from recurring income activities during the first quarter of 2025, with total hotel revenues increasing by 50% to reach EGP 3.5bn in this period. Income from hotel operations and other recurring activities totalled EGP 5.6bn in the quarter, a 70% growth rate, and these revenues constituted approximately 60% of the group's total consolidated revenues during this period. In terms of land bank expansion, Talaat Moustafa Group stated it is in advanced negotiations for a large-scale, mixed-use project in Iraq, covering approximately 14 million square metres. This follows land bank and project expansions undertaken in 2024, which included the group's entry into the Saudi Arabian market through an agreement for the Banan project (10 million square metres), in addition to the South Med project on Egypt's North Coast (23 million square metres). Furthermore, the company is actively exploring expansion opportunities in Gulf Cooperation Council (GCC) countries and the broader Middle East and North Africa (MENA) region, with initiatives aimed at enhancing TMG's profitability and generating cash flows in hard currencies. Talaat Moustafa Group is also preparing for new growth opportunities on Egypt's North Coast. This strategy builds on the performance of its 'South Med' project and is supported by the opening of new destinations in the area, such as the recently inaugurated Ras El Hekma project. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
Hospitality Net
07-05-2025
- Business
- Hospitality Net
New Zealand Hotel Holdings Leading Hotel Portfolio Available for the First Time
New Zealand – Leading New Zealand hotel group NZ Hotel Holdings (NZHH) is divesting its nationwide portfolio of hotel assets. The opportunity is the largest hotel portfolio ever brought to market in New Zealand, presenting a once in-a-generation opportunity for investors to deploy capital into high-quality assets across a diversity of market segments. CBRE's Michael Simpson, Peter Hamilton and Nick Hill are managing the sale via an International Expressions of Interest Campaign. The sale is aligned with the investors' strategy to develop high quality assets and to re-invest the proceeds of those developments into further growth opportunities. NZ Hotel Holdings is a partnership between NZ Super Fund, Russell Property Group and the Lockwood Property Group, formed in 2019 to develop New Zealand hotel assets to support domestic and international tourism in New Zealand. The unparalleled combination of experience of the partners has meant that complexities of acquiring, structuring, seismically strengthening and delivering a unique portfolio of world-class investment grade hotels has been mitigated for the new owner. Its portfolio comprises market-leading Auckland hotels Four Points by Sheraton, QT Auckland, and Adina Apartment Hotel Britomart, as well as Rydges Rotorua and Rydges Wellington, Sofitel Queenstown Hotel and Spa, and BreakFree on Cashel in Christchurch. The New Zealand Government has demonstrated robust support for the growth of tourism, which was formerly the nation's largest export earner. New international tourism campaigns targeting high population and high-value markets, such as India, China, and the USA, along with increased sector funding, are anticipated to enhance international visitation and drive hotel demand. With tourism now back on a growth curve, strong market fundamentals with increased international interest, the opportunity is here to pass on the portfolio to an investor seeking scale, geographic diversity and holistic coverage of New Zealand's key tourism markets. NZHH Chief Executive Marcus Reinders Recent benchmarks such as the record-setting sale of the InterContinental Auckland Hotel supports this view. This is the largest and most comprehensive portfolio of investment grade hotels ever brought to market in New Zealand. New Zealand is an aspirational travel destination, world-renowned for its stunning natural landscapes, diverse wildlife, and rich cultural heritage. The portfolio offers expansive coverage of all of New Zealand's major markets, with the portfolio hotels appealing to business and leisure travelers across all market segments. Michael Simpson, Managing Director of CBRE Hotels Pacific The International Expressions of Interest Campaign closes on Thursday 26th June 2025 at 4pm NZST. About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world's largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at Katherine Yu Senior Manager, External Communications, Asia +852 2820 1512 CBRE Hotels
