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

Orascom Development Holding AG:

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

06.09.2023 / 16:23 CET/CEST

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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

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Ende der Medienmitteilungen

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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
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1720475 06.09.2023 CET/CEST

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Quelle: dpa-AFX