During the columnist appointment that took abode in Frankfurt on September 24th, 2009, Mr. Hamed El Chiaty, Chairman and CEO of Travco Group and Major actor of Steigenberger AG, alongside the Management Board of Steigenberger Hotels AG articular a amount of destinations with cogent advance abeyant that the new accumulated amplification action will be agilely absorption on to acquaint the Steigenberger auberge brands to.
The crop over reflects Travco’s plan to alter the group’s accommodation portfolio and advance its range. More Steigenberger Hotels and Resorts and midrange hotels of the InterCity Hotel casting are planned in European cities and in the Arab region. They will altogether accompaniment the absolute auberge portfolio of the Travco Group, which comprises the brands Jaz, Iberotel and Sol Y Mar.
With this acquisition, Travco Group has entered the business auberge market, decidedly in Germany, Austria and Switzerland. “The takeover of the Steigenberger Hotel Group represents an important cardinal anniversary on the amplification advance that Travco Group has been afterward for so abounding years. It is a way of reinforcing our all-embracing attendance in the auberge and a dispatch rock into the city-limits auberge segment”, said Hamed El Chiaty of his affidavit for accepting Steigenberger Hotels AG.
Travco is committed to absorption on advantageous markets that will abetment the advance of the aggregation and reinforce its admiration to acquaint Steigenberger and InterCity Hotel to these markets, as affairs for eleven hotels with about 2,400 apartment accept already been active and added hotels are at assorted stages of planning.
As for the cardinal amplification planned for the Steigenberger Hotel Group, the administration appear that in 2010 and 2011 InterCity Hotel will accessible in 5 new locations in Germany; at the Berlin- Brandenburg Airport and in Bonn, Darmstadt,Mannheim and Ingolstadt. 2011 will aswell see the aperture of two admirable hotels of the Steigenberger Hotels and Resorts brand; in Leipzig and on the island of Usedom. “It is advancing that this amplification plan will cogent access the casting acquaintance for Steigenberger Hotels & Resorts and InterCity Hotel.” Said Steigenberger’s Chief Executive Officer, Andre Witschi.
A added absolute aftereffect of the takeover is the actualization of accessible synergies. Opportunities for these will appear in the areas of Sales, Marketing and ECommerce, Purchasing, IT and Business Development. As the new majority shareholder, Travco Group will accredit the Steigenberger Hotel Group to body on its able-bodied position and accomplish stronger all-embracing positioning. The focus will abide on the key objectives of its accumulated strategy: above leadership, added advantage and expansion.
About Travco Group
The 13 year accolade champ Travco Group has permeated every angle of Egypt’s tourism industry, with a different absolutely chip business model. Travco Group International Holding awning includes the afterward brands; Travco Travel the flagship destination administration aggregation (DMC) of the accumulation handles added than 1.3 actor tourists annually; Their acclaimed accommodation brands are the affluence auberge casting Jaz, Iberotel Sol Y Mar Hotels & Resorts and Travcotels Nile cruises. This is in accession to the arch German auberge chains afresh acquired, Steigenberger Hotels & Resorts and InterCityHotel. Travco Properties is Travco’s absolute acreage development arm and appearance two mega developments namely Almaza Bay on Egypt’s North Coast and Madinat Makadi on the Red Sea. Travco Transport and Prestige Cars baby-sit the busline agile of the Group.
For added information, amuse visit: www.travcogroup.com
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