EQS-News: Orascom Development Holding AG: (deutsch)

Orascom Development Holding AG:

Orascom Development Holding AG / Schlagwort(e): Sonstiges/Sonstiges

Orascom Development Holding AG:

06.09.2023 / 16:23 CET/CEST

Orascom Development Welcomes Stuart Leven as

New Chief Executive Officer of Hotels Management Division

Appointment Reinforces Orascom Development's Commitment to Hospitality

Excellence

(Altdorf, Switzerland, 6 September 2023): Orascom Development announces the

appointment of Stuart Leven as Chief Executive Officer of Orascom Hotels

Management (OHM), the wholly owned subsidiary responsible for most hotel

operations of the leading international developer of vibrant, integrated

communities in Europe, the Middle East and North Africa.

In his new role, Stuart will lead the transformation and expansion of

Orascom Development's hotel business as it evolves to meet the future needs

of guests, trade partners, employees and the company's integrated towns in

Egypt, the UAE, Oman, Montenegro, and Switzerland. He will also be a vital

member of Orascom Development's global Executive Committee, reporting

directly to Group CEO Omar El Hamamsy and will be based in London.

Stuart will work closely with Joachim Schmitt, who retains operational

leadership of Orascom Development's portfolio of 33 hotels across three

continents, along with responsibility for future new openings. Joachim will

take on the newly created role of Chief Operating Officer at OHM.

Stuart brings a wealth of experience in the hospitality industry. His decade

of experience working with a wide variety of hotel brands culminated in the

role of Vice President of Commercial for UK and Ireland at InterContinental

Hotels Group (IHG). Notably, he also has extensive experience in the airline

and cruise industry, including Vice President EMEA for Royal Caribbean

Group.

Omar El Hamamsy, Group CEO of Orascom Development, said: "Welcoming Stuart

to our leadership during this period of exceptional performance is a

testament to our commitment to attracting top-tier talent. Stuart's proven

track record in Commercial, Sales and Marketing aligns well with our

strategic drive to further elevate our premium to luxury hospitality

offerings. Supported by Joachim's operational leadership, I'm confident that

our hotels business is well positioned to continue building on the

impressive growth achieved."

Stuart Leven, Chief Executive Officer of Orascom Hotels Management, said:

"The visionary scale and masterful complexity of Orascom Development's

integrated towns are remarkable. Our portfolio of 33 hotels, with more than

7,000 rooms, serves as a cornerstone in welcoming guests to these

extraordinary destinations. Whether at our distinct standalone properties or

renowned international brands including The Chedi, Movenpick, Radisson,

Rotana, Sheraton and Steigenberger, our focus is on delivering an

outstanding guest experience. I look forward to collaborating with our

leadership, team, and partners as we transform and expand OHM in line with

Orascom Development's journey to becoming a pre-eminent, multi-national

integrated developer."

In 2023, Orascom Development's Hotels segment has exhibited solid growth,

with revenues during 1H 2023 increasing by 32.5% to CHF 80.3 million and

gross operating profit (GOP) increasing by 86.2% to CHF 35.0 million. These

impressive results were primarily due to strong average daily rates,

enduring leisure demand, and increased occupancy rates. Throughout the

years, Orascom Development's premium and luxury hotels have garnered

accolades for outstanding guest experiences by Condé Nast Traveller, World

Travel Awards, TripAdvisor, BBC Travel and other prestigious entities in the

industry.

Orascom Hotels Management Portfolio:

* In Egypt, Orascom Development's hotels encompasses a wide array of

five-, four- and three-star hotels and boutique hotels in the seaside

towns of El Gouna by the Red Sea and Taba Heights set near the majestic

Sinai mountains.

* In Switzerland, Andermatt Swiss Alps offers guests a year-round,

five-star luxury experience at The Chedi Andermatt and Radisson Blu

Reussen as part of the development into a prime alpine destination. It

was recently announced that Jörg Arnold will become General Manager of

The Chedi Andermatt and Cluster Director of Hotels in Andermatt for OHM

on 1 October 2023.

* Lutica Bay in Montenegro is home to The Chedi Lutica Bay, a member of

The Leading Hotels of The World with 111 exceptionally elegant rooms and

suites, two restaurants, two bars, versatile meeting facilities, a

private beach, an Asian-inspired spa, and indoor and outdoor pools.

* In Oman, the company's collection includes three hotels in Hawana

Salalah (Fanar Hotel & Residence, the five-star beachfront resort

encompassing 577 rooms; Salalah Rotana, the five-star beachfront resort

with 422 rooms clustered around lagoons and man-made canals, and the

Juweira Boutique Hotel, offering 82 guestrooms at the Marina promenade)

and the Sifawy boutique hotel in Jebel Sifah.

* In the UAE, The Cova Rotana in Ras Al Khaimah offers 435 rooms, three

swimming pools, three water slides, a children's area, a fully equipped

Bodylines Fitness and Wellness Club, four exquisitely designed massage

rooms, three state-of-the-art meeting rooms, and six different

restaurants, bars, and lounges with breath-taking views of its pristine

beach and the Arabian Gulf.

About Orascom Development:

Orascom Development Holding is a leading international developer

specializing in vibrant, integrated communities in Europe, the Middle East,

and North Africa. For more than 30 years, Orascom Development has been a

pioneer in creating destinations where people are inspired to live, work,

and play with passion and purpose. ODH shares are listed on the SIX Swiss

Exchange.

From El Gouna's stunning Egyptian coastal town by the Red Sea to Andermatt

Swiss Alps' breath-taking, year-round mountain destination, each

master-planned community is a testament to Orascom Development's commitment

to place-making at its finest. The integrated towns harmoniously combine

residential areas with private villas and apartments, hotels, and

award-winning leisure and commercial amenities - including golf courses,

marinas, sports facilities, retail shops and restaurants.

Orascom Development owns a land bank of more than 100 million square meters

with nearly 40% under development or developed into thriving communities in

Egypt (El Gouna, Makadi Heights, O West, Taba Heights, and Byoum), in the

GCC (Jebel Sifah and Hawana Salalah in Oman and The Cove in the UAE), and in

Europe (Andermatt Swiss Alps in Switzerland, Lutica Bay in Montenegro and

West Carclaze Garden Village in the UK).

Orascom Development's hospitality portfolio includes 33 premium and luxury

hotels with more than 7,000 rooms across Europe, the Middle East, and North

Africa.

For more information, please visit orascomdevelopment.com

Ende der Medienmitteilungen

Sprache: Deutsch

Unternehmen: Orascom Development Holding AG

Gotthardstraße 12

6460 Altdorf

Schweiz

Telefon: +41 41 874 17 17

Fax: +41 41 874 17 07

E-Mail: ir@orascomdh.com

Internet: www.orascomdh.com

ISIN: CH0038285679

Valorennummer: A0NJ37

Börsen: SIX Swiss Exchange

EQS News ID: 1720475

Ende der Mitteilung EQS News-Service

1720475 06.09.2023 CET/CEST

 ISIN  CH0038285679

AXC0221 2023-09-06/16:24

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