Laure Morvan (Accor): "The New Capital offers a wealth of opportunities".

In what direction is the Accor group pursuing its development in Egypt?

Laure Morvan - Accor has been present for more than 35 years old at Egypt and is fortunate enough to be one of the market leaders. 33 properties are currently in operation, with over 9,000 keys. We also have 18 other hotel projects which are in the pipeline. This means an additional 7,000 rooms, which are being developed. Egypt is naturally a fairly important market for the Accor group. We also have an office in Cairo to be closer to our customers and hotel owners. In terms of our portfolio, the Mövenpick and Novotel are very strong in the country and have a good network. But we are also one of the leaders in the luxury with our brands Sofitel and Fairmont. In Cairo, we are fortunate to have two hotels with fantastic locations on the banks of the Nile, with the Sofitel on Gezira Island and the Fairmont Nile City, which also has breathtaking views of the Nile. These are naturally very well-known hotels, but we also have legendary hotels such as the Sofitel Legend Old Cataract in Aswan or the Sofitel Winter Palace in Luxor.

What are the development opportunities offered by both the new cities, which have been a major focus of Egypt's development for many years, and the new capital?

Laure Morvan - Indeed, the development of these new cities has been extremely important, including Cairo New Capital City where we have already four hotels under development including three luxury hotels. Last year, we announced the development of a Sofitel hotel in New Capital City, which will also include residences. And we had previously signed a project for a Movenpick hotel, Movenpick Living, developed in the form of an apartment hotel. These products are very popular with business travellersThere will also be families who may be interested in this type of concept. There will also be families who may be interested in this type of concept. We also have two luxury hotels under development, which should be announced soon. So the new city, Cairo New Capital City, does indeed offer many opportunities for us.

With development focused more on hotel residences?

Laure Morvan - If I take the example of the Sofitel in Cairo New Capital, the project will include Sofitel branded residences. These are a Sofitel-branded residence which is being designed at the same time as the hotel. So the tower where the hotel will be located will also have floors with flats for sale to private individuals. They will benefit from a number of facilities in this luxury residence: a swimming pool, a fitness centre, etc. There may be a cinema screening room, for example. What's more, these flats will benefit from certain services that can be provided by the hotel. It's a concept that's developing more and more, and we're seeing a lot of interest in this type of product, with several projects being developed in this format in Egypt.