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| Sovereign Hospitality
Holdings |
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Based in Geneva, with regional offices in Pretoria, South Africa
and Cairo, Egypt, Sovereign Hospitality Holdings a newly-created
company under the patronage of the MA Kharafi Group, a Fortune
500-listed company registered in Kuwait. The company was created
to seamlessly integrate the MA Kharafi’s various hospitality-related
interests into a single company.
The MA Kharafi Group is a large multi-national company principally
covering construction, manufacturing, IT, aviation, fast food
franchises, agriculture, real estate and hotels. It has an annual
turnover of over US$4bn.Sovereign Hospitality Holdings currently
owns and operates 21 hotels and resorts, amounting to over 4,000
rooms, with a further 11 developments underway, and has assets
in , Lebanon, Syria, Egypt, Senegal, South Africa and The Gambia. |
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Sovereign
either operates independently or in tandem with a partner to
manage the developments it has created. Sometimes it works with
partners from the outset in developing the assets it has acquired;
the choice of partner for each project is different and entirely
depends on the project in question.
“We work with local partners and with partners who have
a global presence such as InterContinental Hotels Group, Four
Seasons, Rotana Hotels and Resort, Hyatt and so forth,”
explains CEO, Mohamed Fahmy, “And we have very good working
relationships with these parties.”
A fact endorsed by Kirk Kinsell, President EMEA, InterContinental
Hotel Group, who comments: “Sovereign offers unrivalled
expertise in this highly specialised sector.” In fact,
Sovereign has recently awarded a management contract for its
Port Ghalib Resort in Egypt to IHG. |
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“The
group has a strong and successful reputation throughout the
world for providing guests with quality hotel accommodation,
making them the ideal choice,” Fahmy continues. “This
is a long-standing and successful relationship and we are partnered
with IHG on developments under progress in Damascus, Syria,
and in Dakar, Senegal.”
Located on the Red Sea at Marsa Alam in Egypt, Sovereign’s
flagship development, Port Ghalib, includes an airport, international
marina, four hotels, retail outlets, real estate and all other
infrastructure required to support this extensive development.
This US$1.2bn project, built entirely out of the desert, gives
an idea of the scale of project and quality of developments
that the company undertakes. |
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Sovereign
currently has a further 11 developments ongoing, which the company
will manage through to completion over the next few years. Of
course, the launch of Sovereign Hospitality Holdings has seen
many investment opportunities present themselves and Fahmy will
be pursuing investment proposals over the next year.
“It is our aim,” he says, “to have 32 hotels
and 5,826 rooms in ten countries by 2010, and 50 hotels by 2018.
For the full article please see the RLI
September 08 issue |
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Paramount
Publications Ltd Suite 15, Hardmans Business Centre, New
Hall Hey Road, Rawtenstall BB4 6HH UK
Tel: +44 (0) 1706 212200 Fax: +44 (0) 1706 211782 Email:
info@rli.uk.com
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